Underwater Drone Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Underwater Drone Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global underwater drone market size reached US$ 3.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.0 Billion by 2028, exhibiting a growth rate (CAGR) of 9.89% during 2023-2028.

An underwater drone refers to an unmanned underwater vehicle (UUV), that is capable of carrying out oceanographic activities underwater without a human occupant or operator. These vehicles are either controlled throughout their operations by a distant human operator or are operated autonomously without any real-time human inputs. They are typically equipped with high-resolution cameras, superior manipulators, sophisticated propulsion systems, and highly sensitive SONAR, making them an ideal option for ocean exploration and bathymetric measurements. Additionally, they significantly reduce the timelines required to inspect equipment and other submerged items in the sea. This results in the extensive usage of these drones for underwater surveys, which include detecting obstructions, wrecks and rocks submerged in the sea, mapping the sea floor, analyzing wave currents and visual dead zones, and predicting waterborne accidents, such as tsunamis.

Underwater Drone Market Trends:
The market is majorly driven by the augmenting adoption of UUVs in deep-water offshore oil and gas exploration activities. This can be attributed to the augmenting demand for energy across the globe. In line with this, a considerable rise in defense expenses to modernize military forces is resulting in a higher product uptake for defense and security applications. Moreover, the expanding applications of automated unmanned vehicles (AUVs) and remotely operated vehicles (ROVs) in search, recognition, and localization applications are providing an impetus to the market growth. Besides this, the rapid utilization of underwater drones in oceanographic research activities is creating lucrative growth opportunities. The market is further driven by continual product innovations, such as the incorporation of artificial intelligence (AI) and machine learning (ML), and the advent of energy-efficient underwater drones. Some of the other factors creating a positive outlook for the market include rapid digitization, commercial aquaculture ventures for underwater farms, inflating disposable income levels, and extensive research and development (R&D) activities conducted by key players.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global underwater drone market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, product type, propulsion system and application.

Breakup by Type:

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

Breakup by Product Type:

Micro
Small and Medium
Light Work-Class
Heavy Work-Class

Breakup by Propulsion System:

Electric System
Mechanical System
Hybrid System

Breakup by Application:

Defence and Security
Scientific Research
Commercial Exploration
Others

Breakup by Region:

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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ATLAS ELEKTRONIK GmbH (thyssenkrupp AG), Blueye Robotics, Deep Ocean Engineering Inc., Deep Trekker Inc. (Halma plc), General Dynamics Corporation, iBubble, Kongsberg Gruppen ASA, Lockheed Martin Corporation, Oceaneering International Inc., Saab Seaeye Limited (Saab AB), Teledyne Marine (Teledyne Technologies Incorporated) and The Boeing Company.

Key Questions Answered in This Report

1. What was the size of the global underwater drone market in 2022?
2. What is the expected growth rate of the global underwater drone market during 2023-2028?
3. What are the key factors driving the global underwater drone market?
4. What has been the impact of COVID-19 on the global underwater drone market?
5. What is the breakup of the global underwater drone market based on the type?
6. What is the breakup of the global underwater drone market based on the propulsion system?
7. What is the breakup of the global underwater drone market based on the application?
8. What are the key regions in the global underwater drone market?
9. Who are the key players/companies in the global underwater drone market?