Underwater Robotics Market

Market Overview:

The global underwater robotics market size reached US$ 3.81 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.67 Billion by 2028, exhibiting a growth rate (CAGR) of 12.3% during 2023-2028. The rising demand from the oil and gas industries, the increasing product utilization for scientific research purposes, the bolstering growth of the aquaculture sector, and ongoing technological advancements in the industry represent some of the key factors driving the market.

Underwater robotics is a specialized field that focuses on developing and applying robotic systems designed to operate underwater. It integrates engineering, computer science, and marine sciences to create autonomous or remotely operated vehicles (ROVs) capable of maneuvering and functioning in underwater environments. These robots are equipped with sensors, cameras, manipulators, and propulsion systems to navigate underwater and perform various tasks and operations, including scientific exploration, data collection, and industrial inspections and maintenance. As a result, they find large-scale applications in marine research to explore and study the ocean's depths, gathering data on marine life, geological formations, and underwater ecosystems. In addition to this, they are extensively utilized across offshore industries, such as oil and gas exploration, underwater construction, and pipeline inspections, to access hazardous or hard-to-reach areas.

Underwater Robotics Market Trends:

The increasing demand for underwater robots across the oil and gas industries for subsea inspections, maintenance, and repair purposes represents one of the prime factors driving the market growth. In confluence with this, extensive investments in underwater technology to enhance the efficiency and productivity of offshore exploration operations are propelling the market forward. Moreover, the rising use of underwater robots in the military and defense sectors for mine countermeasures, intelligence, surveillance, and reconnaissance applications is positively impacting the market growth. In line with this, the large-scale product usage to reach previously inaccessible areas for sea exploration, scientific research, and environmental monitoring is acting as another significant growth-inducing factor. Additionally, the bolstering growth of the aquaculture sector is propelling the need for underwater robots for monitoring fish farms, inspecting underwater infrastructure, and managing aquatic environments. Concurrent with this, the expanding development of underwater infrastructures, such as pipelines, dams, bridges, and offshore wind farms, is presenting remunerative growth opportunities for the market. Furthermore, ongoing advancements in sensors, cameras, batteries, and propulsion systems have enabled the development of innovative underwater robots capable of performing complex tasks with greater accuracy and efficiency, which, in turn, is aiding in market expansion. Besides this, the surging product adoption in search and rescue operations, the growing demand for underwater photography, documentaries, and tourism, and the increasing number of deep-sea archaeological expeditions are creating a favorable outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global underwater robotics market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on type and application.

Type Insights:

• Remotely Operated Vehicle (ROV)
• Autonomous Underwater Vehicles (AUV)
   

The report has provided a detailed breakup and analysis of the underwater robotics market based on the type. This includes remotely operated vehicle (ROV) and autonomous underwater vehicles (AUV). According to the report, remotely operated vehicle (ROV) represented the largest segment.

Application Insights:

• Defense and Security
• Commercial Exploration
• Scientific Research
• Others
   

A detailed breakup and analysis of the underwater robotics market based on the application has also been provided in the report. This includes defense and security, commercial exploration, scientific research, and others. According to the report, commercial exploration accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for underwater robotics. Some of the factors driving the North America underwater robotics market included the increasing offshore exploration activities, the expanding underwater infrastructural development, and ongoing product innovations.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global underwater robotics market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Atlas Elektronik (ThyssenKrupp Marine Systems), Deep Ocean Engineering Inc., ECA Group (Groupe Gorgé), Eddyfi Technologies, General Dynamics Mission Systems Inc (General Dynamics Corporation), International Submarine Engineering, Oceaneering International Inc., Saab Ab, TechnipFMC plc, Soil Machine Dynamics Ltd., VideoRay LLC, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global underwater robotics market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global underwater robotics market?
• What is the impact of each driver, restraint, and opportunity on the global underwater robotics market?
• What are the key regional markets?
• Which countries represent the most attractive underwater robotics market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the underwater robotics market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the underwater robotics market?
• What is the competitive structure of the global underwater robotics market?
• Who are the key players/companies in the global underwater robotics market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the underwater robotics market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global underwater robotics market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the underwater robotics industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.