Underwater Drone Market is valued approximately USD 3.59 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.7% over the forecast period 2020-2027.
The underwater drones are types of vehicles which can operate under water (oceans and sea) without human occupants. They are also known as unmanned underwater vehicles (UUV). These vehicles are normally divided into two categories: remotely operated underwater vehicles (ROVs) controlled by a distant human operator during their operations, and autonomous underwater vehicles (AUVs) capable of operating autonomously without any human interaction in real time. Further, increasing growth factors such as oceanographic research demand, Under-water drones can be used to observe and inspect oceans when run on a remote basis (ROV) or completely independent under-water vehicles (AUVs). To counter the declining health of oceans, scientists and experts have coordinated an upcoming campaign in the course of the years, which eventually led the General Assembly of the United Nations in 2017 to announce the Ocean Science Decade (2021-2030).
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This raises awareness of the rapid decrease in the health and wealth of the oceans among governments and scientists. In order to improve ocean management, science and technology supported mitigation policies are needed. It is expected that the rising use of underwater drones in oceanographic research would further the growth of the global market for underwater drones. Furthermore, operators are also exploring oil and gas deposits in deeper seas and are expected to make a leap in adoption of ROVs and AUVs in the years. Underwater drones improve operational protection, provide support for drilling and subsea construction, reduce the effect of inspection activities on the environment and decrease staff deployment.
Underwater drones are an alternative to routine inspection work for divers under the sea. Drones perform inspection works are safe, effective and minimize the effect on the environment from regular monitoring and inspection which leads to create more demand for Global Underwater Drone Market. However, AUVs-related contact issues impedes the growth of the market over the forecast period of 2020-2027. Also, technical developments in unmanned underwater vehicles, high-resolution cameras, superior manipulator weapons, and highly sensitive sonar have led to a decrease in the timelines needed for inspecting equipment and other submerged objects, thereby opening up an ocean of possibilities in underwater drones market.
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The regional analysis of global Underwater Drone market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to increasing activities for offshore oil and gas exploration in European countries, the region is expected to make a significant contribution to world share. For example, the Russian oil company Lukoil concluded in May 2018 the construction of the Caspian Sea third puits in the Russian region of Filanovsky. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increased usage in China, India, South Korea and Japan for underwater robotics in defense operations, oil and gas explorations would create lucrative growth prospects for the Underwater Drone market across Asia-Pacific region.
Major market player included in this report are:
The Boeing Company
Lockheed Martin Corporation
Saab Seaeye Ltd
Teledyne Marine Group
Oceaneering International, Inc.
Deep Ocean Engineering, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
Remotely Operated Vehicle (ROV)
Autonomous Underwater Vehicles (AUV)
Defense & Security
By Propulsion System:
By Product Type:
Small and Medium
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Underwater Drone Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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What is the aim of the report?
Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
The various parameters accelerating the growth of Market are incorporated in the research report.
The report analyses growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East and Africa region.
The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
The report offers detailed analysis of leading companies in the market across the globe.
It provides details of the major vendors involved in the Market including Key Players
A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
the manufactured products is incorporated in the report.
The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
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What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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