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Insights on the Underwater Drone Global Market to 2027 - Augmenting Adoption of UUVs in Deep-Water Offshore Oil and Gas Exploration Activities

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Global Underwater Drone Market

Global Underwater Drone Market
Global Underwater Drone Market

Dublin, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The "Underwater Drone Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global underwater drone market size reached US$ 3.24 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 6.77 Billion by 2027, exhibiting a CAGR of 13.07% during 2021-2027.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

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.

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:

  • How has the global underwater drone market performed so far and how will it perform in the coming years?

  • What has been the impact of COVID-19 on the global underwater drone market?

  • What are the key regional markets?

  • What is the breakup of the market based on the type?

  • What is the breakup of the market based on the product type?

  • What is the breakup of the market based on the propulsion system?

  • What is the breakup of the market based on the application?

  • What are the various stages in the value chain of the industry?

  • What are the key driving factors and challenges in the industry?

  • What is the structure of the global underwater drone market and who are the key players?

  • What is the degree of competition in the industry?

Report Attribute

Details

No. of Pages

144

Forecast Period

2021 - 2027

Estimated Market Value (USD) in 2021

$3.24 Billion

Forecasted Market Value (USD) by 2027

$6.77 Billion

Compound Annual Growth Rate

13.0%

Regions Covered

Global

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Underwater Drone Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 Market Breakup by Type
6.1 Remotely Operated Vehicle (ROV)
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Autonomous Underwater Vehicles (AUV)
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Hybrid Vehicles
6.3.1 Market Trends
6.3.2 Market Forecast

7 Market Breakup by Product Type
7.1 Micro
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Small and Medium
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Light Work-Class
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Heavy Work-Class
7.4.1 Market Trends
7.4.2 Market Forecast

8 Market Breakup by Propulsion System
8.1 Electric System
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Mechanical System
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Hybrid System
8.3.1 Market Trends
8.3.2 Market Forecast

9 Market Breakup by Application
9.1 Defence and Security
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Scientific Research
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Commercial Exploration
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Others
9.4.1 Market Trends
9.4.2 Market Forecast

10 Market Breakup by Region

11 SWOT Analysis

12 Value Chain Analysis

13 Porters Five Forces Analysis

14 Price Analysis

15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 ATLAS ELEKTRONIK GmbH (thyssenkrupp AG)
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.2 Blueye Robotics
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.3 Deep Ocean Engineering Inc.
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.4 Deep Trekker Inc. (Halma plc)
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.5 General Dynamics Corporation
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.6 iBubble
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.7 Kongsberg Gruppen ASA
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.8 Lockheed Martin Corporation
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.9 Oceaneering International Inc.
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.10 Saab Seaeye Limited (Saab AB)
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.11 Teledyne Marine (Teledyne Technologies Incorporated)
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.12 The Boeing Company
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio

For more information about this report visit https://www.researchandmarkets.com/r/iwa51d

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