Market Research Future (MRFR) has published a cooked research report on the “Global Underwater Drone Market” that contains information from 2018 to 2032. The underwater drone market is estimated to register a CAGR of 16.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global underwater drone market— ECA Group, The Boeing Company, Deep Ocean Engineering, Inc., TechnipFMC plc, Saab Seaeye Ltd, Oceaneering International, Inc., kongsberg maritime, Bluefin Robotics Corporation, teledyne marine, Lockheed Martin Corporation, and others
The global underwater drone market is accounted to register a CAGR of 16.50% during the forecast period and is estimated to reach USD 15.0 Billion by 2032.
The underwater drone market offers remotely operated vehicles for exploration, surveillance, and data collection in aquatic environments. Applications range from marine research to underwater inspections, with growing interest in submersible technology for both commercial and recreational purposes.
The global underwater drone market has been segmented based application, type, propulsion system and product type.
On the basis of application, the market is segmented into defense and security, scientific research, commercial exploration, others. With 35.45% of market revenue coming from the defense and security segment, this sector led the market. For all fleets, finding and disarming underwater mines is a top concern.
Based on type, the global underwater drone market has been segmented into remotely operated vehicle (ROV), autonomous underwater vehicle (AUV), hybrid vehicles. The category for remotely operated vehicles (ROV) brought in the highest money. The offshore oil and gas industry heavily utilizes ROVs for a variety of operations, including pipeline inspection, wellhead maintenance, and the installation and retrieval of subsea equipment.
Based on propulsion system, the global underwater drone market has been segmented into electric system, mechanical system, and hybrid system. The category of electric systems brought in the most money. Comparing electric propulsion systems to conventional internal combustion engines, the former are renowned for their superior energy efficiency.
Based on product type, the global underwater drone market has been segmented into micro, small and medium, light work-class, heavy work-class. The category of light work-class produced the maximum revenue. Light work-class underwater drones are made to do a range of jobs, from monitoring the environment to inspecting and maintaining underwater infrastructure.
The global underwater drone market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe underwater drone market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The underwater drone market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World underwater drone market comprises of Middle East, Africa, and Latin America.
The North America underwater drone market dominated this market in 2022 (45.80%). The United States and other countries in North America have large budgets for defense and security. Due to this, there is a high demand for underwater drones for use in military surveillance, reconnaissance, and mine detection.
Moreover, the second-largest market share belongs to the underwater drone market in Europe. Europe has a robust marine trade sector, with a wide variety of ports and shipping lanes. Drones submerged in water are used to monitor undersea infrastructure, check ships, and ensure port security.
Additionally, the Asia-Pacific underwater drone market is expected to grow at the fastest CAGR from 2023 to 2032. The defense budgets of several Asia-Pacific nations are rising, which is raising the need for underwater drones for use in naval and maritime security applications.
Furthermore, the rest of the world's underwater drone market is divided into the Middle East, Africa, and Latin America. The underwater drone market in Latin America is developing across various sectors, including marine research, underwater exploration, and inspection services. The region's diverse aquatic environments and increasing interest in ocean exploration contribute to the growth of this market, with applications ranging from scientific research to industrial use.
Key Findings of the Study