Overview and Scope
Underwater drones are robotic devices that may be submerged and utilized by divers or operators on land to explore the depths of enormous bodies of water. Underwater drones are used by organizations, agencies, and subsea industries to examine, assess, and monitor their assets remotely while lowering operating costs and human dangers.
Sizing and Forecast
The underwater drone market size has grown rapidly in recent years. It will grow from $4.48 billion in 2023 to $4.96 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to ocean exploration and research, defense and naval applications, oil and gas industry inspections, environmental monitoring, search and rescue operations, aquaculture monitoring, film and media production, commercial fishing operations, mapping and surveying..
The underwater drone market size is expected to see rapid growth in the next few years. It will grow to $7.41 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to expansion of underwater mining activities, monitoring and mitigation of climate change impact, development of autonomous underwater vehicles (auvs), emergency response and disaster recovery, drones as a service (daas) models.. Major trends in the forecast period include diverse sensor integration, underwater drone swarms, hybrid underwater-air systems, underwater communication technologies, commercial fisheries monitoring, integration of artificial intelligence (ai), miniaturization of underwater drone technology..
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The underwater drone market covered in this report is segmented –
1) By Type: Remotely Operated Vehicle, Autonomous Underwater Vehicles, Hybrid Vehicles
2) By Product Type: Micro, Small And Medium, Light Work-Class, Heavy Work-Class
3) By Propulsion : Electric System, Mechanical System, Hybrid System
4) By Application: Defense And Security, Scientific Research, Commercial Exploration, Others Applications
Asia-Pacific was the largest region in the underwater drone market in 2023. The regions covered in the underwater drone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
A rise in defence expenses to modernize military forces across the globe is expected to propel the underwater drone market. Military forces refer to the naval, military, and air forces, as well as every soldier who is a part of the armed forces. Every nation is adopting modernized and advanced weapons, such as underwater drones, to maintain its position of dominance and compete with rival nations. For instance, in April 2023, according to The Peter G. Peterson Foundation, a US-based non-profit organization, U.S. defense expenditure rose by $71 billion between 2021 and 2022. Therefore, a rise in defence expenses around the globe is driving the growth of the underwater drone market.
Key Industry Players
\Major companies operating in the underwater drone market report are Saab Seaeye Ltd., Teledyne Marine Group, The Boeing Company, Lockheed Martin Corporation, Bluefin Robotics Inc., Kongsberg Maritime AS, ECA Group SA, Oceaneering International Inc., TechnipFMC PLC, Deep Ocean Engineering Inc., Atlas Elektronik GmbH, Power Vision Technology Group Co. Ltd., Boeing Company, Thales Group, General Dynamics Corporation, Terradepth Inc., ecoSUB Robotics Ltd., Eelume AS, Nido Robotics, Neptune Robotics Corporation, Aquabotix Technology Corporation, OpenROV Inc., SeaDrone Inc., Aquatic Drones, Ocean Infinity Ltd., Ocean Aero Inc., OceanAlpha Inc., Ocean Power Technologies Inc., SeaRobotics Corporation, SeaView Systems Inc., Shark Marine Technologies Inc., Subsea Tech AS, VideoRay LLC, International Submarine Engineering Ltd.
The underwater drone market report table of contents includes:
1. Executive Summary
2. Underwater Drone Market Characteristics
3. Underwater Drone Market Trends And Strategies
4. Underwater Drone Market – Macro Economic Scenario
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31. Global Underwater Drone Market Competitive Benchmarking
32. Global Underwater Drone Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Underwater Drone Market
34. Underwater Drone Market Future Outlook and Potential Analysis
