Global Manned Submersible Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Manned Submersible Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Manned submersible is a diving device that can conduct underwater observation and operations. It plays a vital role in ocean exploration, underwater survey, ocean development, and life-saving tasks. It can also be used as a diving device for divers to engage in underwater activities base. Engineers, technicians and scientists can quickly and accurately reach various complex marine environments. They can observe, analyze and evaluate on the seabed site, and can also achieve efficient operations through manipulators. Thus it becomes one of the indispensable equipment for human beings to carry out marine development activities.

Market Overview:

The latest research study on the global Manned Submersible market finds that the global Manned Submersible market reached a value of USD 185.97 million in 2022. It’s expected that the market will achieve USD 249.26 million by 2028, exhibiting a CAGR of 5.0% during the forecast period.

Influence of COVID-19 Outbreak on Manned Submersible Industry Development

The sudden outbreak of the COVID-19 pandemic has led to the implementation of strict lockdown regulations in many countries/regions, resulting in the interruption of the import and export activities of manned submersibles. COVID-19 can affect the global economy in three main ways: directly affecting production and demand, causing supply chain and market disruptions, and financial impact on companies and financial markets. The outbreak of the COVID-19 pandemic has severely affected the manned submersible product industry. Due to the national blockade, the supply chain of raw materials has been interrupted, putting pressure on the supply of products in the industry. Submersibles have high requirements for raw materials and core parts. The current era of globalization relies on global procurement. However, the epidemic has dealt a heavy blow to logistics and severely affected the speed of turnover. Factors such as labor shortages and increased raw material costs will increase production costs and risks. At the same time, downstream demand is also affected. Whether it is petroleum operations, maintenance, scientific research, etc., activities are restricted, and the demand for submersibles is suppressed. At the same time, due to the impact on the capital market, investor confidence has been frustrated, and corporate financing has become more difficult.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

U-Boat Worx is one of the major players operating in the Manned Submersible market, holding a share of 8.93% in 2021.

U-Boat Worx is dedicated to continuous support and growth within the global market for manned submersibles, whether it be for individuals, commercial/research/scientific survey or underwater film makers. U-Boat Worx has grown year on year and evolved to become the largest builder of private submarines.

Triton Submarines is a Florida-based company that designs and manufactures private submersibles for research, filming, deep-ocean exploration, and the luxury yachting and tourism sector.

Segmentation Overview:

Among different product types, Shallow Water Level segment is anticipated to contribute the largest market share in 2027.

Key Companies in the global Manned Submersible market covered in Chapter 3:

Triton Submarines
Silvercrest
U-Boat Worx
Lockheed Martin
DOER Marine
MSubs Ltd
DeepFlight
China Shipbuilding Industry
OceanGate
SEAmagine

In Chapter 4 and Chapter 14.2, on the basis of types, the Manned Submersible market from 2018 to 2029 is primarily split into:

Shallow Water Level
Deep Water Level

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Manned Submersible market from 2018 to 2029 covers:

Undersea Detection
Business Travel
Life Saving
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)