Underwater Robotics Market Research Report - Global Forecast till 2027

Underwater Robotics Market Research Report: by Type (Remotely Operated Vehicles [ROV] and Autonomous Underwater Vehicles [AUV]), By Application (Commercial Exploration, Defense & Security and Scientific Research) and by Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast till 2027

ID: MRFR/SEM/6136-CR | July 2020 | Region: Global | 106 pages

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Underwater Robotics Market Snapshot

The underwater robots are also known as underwater vehicles which are utilized for critical operations that can’t be carried out by manpower. The invention of underwater robotics is considered to be highly beneficial for the end-user industries such as Oil and gas industries, mineral exploration, underwater researches, patrolling, defense, and other crucial industries. The robust and rigid design of underwater robots enables them to work under harsh conditions. However, the costs incurred for the manufacturing of such underwater robots are hindering the overall growth of the underwater robotics market. Underwater Robotics Market is projected to record a CAGR of 12.5%, witnessing substantial growth during the forecast period. The market was valued at USD 2,473.79 Million in 2019; it is expected to reach USD 4,914.29 Million by 2025.

The advancements in technologies and the utilization of sensors are impacting the overall growth of the Underwater Robotics industry. Moreover, several organizations are inclined to acquire the resources that are present underwater. They are increasingly utilizing these systems to ensure the safety of their workers and gather accurate data for further analysis automatically.

COVID 19 Analysis:

COVID 19 has significantly impacted the growth of several industry verticals, the long–term impacts made on several industrial units continued to present throughout the pandemic. Moreover, the new projects were dropped by the major end-users of underwater robotics, as the primary focus was upon combating the crisis. The oil and gas industry is the major end-user of the Underwater Robotics industry which is also picking up the pace in recent years. Therefore the Underwater Robotics market value is expected to rise during the forecast period. Additionally, the demand for analog- semiconductors was declining owing to the sudden outbreak of COVID 19. Recently, industrial activities are gaining back momentum and pace. Productivity is also increasing in recent times. 

Market Dynamics:

  • Market Drivers:

The increasing demand in the defense and security sectors and other applications are impacting the Underwater Robotics market growth. The underwater robotics are integrated with more or less 100 sensors which enable them to perform the desired operation without any human intervention. Moreover, the utilization of Underwater Robotics in a wide range of applications such as marine biology, underwater researches, marine-related studies is fuelling the Underwater Robotics market growth.

The increasing investments in the R&D of the Underwater Robotics Market by governmental organizations have helped the overall growth of the Underwater Robotics industry. On the other hand, the oil and gas industries are increasing their explorations in recent times, owing to the increasing demand for oil and gas across the globe. Such factors are increasing the Underwater Robotics market growth.

  • Market Opportunities:

The technical advancements in recent years concerning sensors and imaging systems are fuelling the overall growth of the Underwater Robotics Market. Moreover, the demand for Oil and Gas has been increasing in recent years, which has increased the necessity of Oil and Gas explorations. The majority of the Oil and Gas explorations are carried out under the seas, which are presenting a lucrative opportunity for the Underwater Robotics market growth.

The rigid and robust design of the underwater machines is capable of withstanding the harsh environments and is still capable of performing the desired operations without human intervention. Such potential benefits have drawn several industrial sectors including, underwater archaeology, marine biology, and marine-related engineering, researches, and studies. Such factors are presenting lucrative growth for the Underwater Robotics Market.

  • Market Restraints:

The higher cost is incurred for the development and manufacturing process of underwater robotics. Moreover, the repair costs and the occurrences of malfunctions while carrying out the underwater explorations and surveys lead to huge financial distress. Such factors are affecting the overall growth of the Underwater Robotics Market

An increasing number of cyber threats in the industry, as robotics utilize huge data shared via the internet. On the other hand, on failing the explorations, the technologies are outsourced. Such factors are also affecting the Underwater Robotics market growth.

  • Market Challenges: 

The complex technologies are utilized in designing Underwater Robotics; advancements in the existing technologies are required for deploying underwater robotics for the job. The absence of such advancements and the cost of the technologies are considered as the major challenge for the Underwater Robotics market growth.

Navigation and communication are considered as the primary challenges for the overall growth of Underwater Robotics, as they are deployed in the deep oceans and lakes where the ocean currents are generally severe. Autonomous vehicles are highly preferred by major end-user applications, however, the navigation is found to be difficult comparatively.

Cumulative Growth Analysis:

Underwater Robotics is gaining momentum in recent years owing to the technical advancements in the sensors utilized in these underwater vehicles. Additionally, the growing number of end-user industries which include defense and scientific research purposes, and growing demand in those end-user industries are driving the overall growth of the Underwater Robotics Market.

Additionally, the development activities are carried out by the leading market players due to the increasing government investments in the market. For instance, in the year 2016, the Defence department of the United States has agreed to invest about USD 600 million by the year 2025, then the governmental incentives for the industry have been growing with the demand for underwater robots. Therefore the Underwater Robotics market value is expected to rise from USD 2,473.79 Million in 2019 to a market value of over USD 4,914.29 Million by 2025 while registering a CAGR of 12.5%.

Value Chain Analysis: 

The Underwater Robotics market value is rising because of the increasing adoption in commercial explorations such as Intelligence, surveillance, inspection, and other critical operations which cannot be performed by manpower, the other end-user industries include military, navigation, communication, and oil and gas explorations. The primary types of Underwater Robotics are remotely operated vehicles and Autonomous Underwater vehicles, out of which the demand for autonomous vehicles is expected to grow with a healthy CAGR in the forecast period.

Since the underwater robots are built with rigid, yet flexible bodies that are capable of withstanding harsh conditions like the strong force of oceanic currents, they glide, drift through the oceans without the human operators. The China government has deployed over 12 underwater vehicles to monitor the naval forces of the other countries, therefore the increasing investments from the developed countries are presenting lucrative opportunities for the overall growth of the Underwater Robotics industry.

Segment Overview:

Based on Type:

  • Remotely Operated Vehicles

  • Autonomous Underwater Vehicles

Based on Application:

  • Commercial exploration

  • Defense and security

  • Scientific research

  • Underwater construction 

Based on Control Type:

  • Cable remote control type

  • No cable remote control type 

Regional Analysis:

North America is currently dominating the global Underwater Robotics industry, as the American government has announced to invest over USD 600 million by the year 2025 in the industry and the market value is expected to grow with a healthy CAGR of 12.7% during the forecast period. 

Secondly, Asia-pacific is following North America in the Underwater Robotics market share, as the countries like China are also increasing their investments in the Underwater Robotics industry. The increasing number of Oil and Gas explorations is also increasing the Underwater Robotics market value in the Asia-pacific region.

Competitive Landscape:

  • Atlas Maridan ApS. (Germany)

  • Deep Ocean Engineering, Inc. (US)

  • General Dynamics Mission Systems, Inc. (US)

  • International Submarine Engineering Ltd. (Canada)

  • ECA SA (France)

  • Eddyfi (Canada)

  • Oceaneering International, Inc. (US)

  • Saab AB (Sweden)

  • TechnipFMC plc (UK)

  • Soil Machine Dynamics Ltd. (UK) 

Recent Developments:

One of the recent developments in the industry, named Bluefin-12 which was announced in the year 2020 is considered as the light-weight and medium-class underwater vehicle which can be operated without the help of a human. Some of the features of this vehicle include supreme real-time navigation accuracy with the range <0.1 D.T CEP 50; and the optional target recognition and it possesses Wi-Fi and iridium communications. 

Trident is considered the fastest and remote-controlled underwater machine which is capable of recording 50.77 seconds in 100m travel. This underwater machine is also capable of acquiring the data with precision and is capable of moving efficiently in tight spaces also with the aid of a controller.

Report Overview:

This report has covered:

  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Cumulative Growth Analysis

  • Value Chain Analysis

  • Segment Overview

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments

Report Scope:
Report Attribute/Metric Details
  Market Size   USD 4,914.29 Million
  CAGR   12.5%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Atlas Maridan ApS. (Germany), Deep Ocean Engineering, Inc. (US), General Dynamics Mission Systems, Inc. (US), International Submarine Engineering Ltd. (Canada), ECA SA (France), Eddyfi (Canada), Oceaneering International, Inc. (US), Saab AB (Sweden), TechnipFMC plc (UK), and Soil Machine Dynamics Ltd. (UK)
  Key Market Opportunities   Technical advancements in sensors and imaging systems have created opportunities for robot manufacturers to incorporate state-of-the-art technology in their products.
  Key Market Drivers   The increasing demand for underwater robots for defense and security applications from various countries.

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Frequently Asked Questions (FAQ) :

The global underwater robotics market is poised to record a market value of USD 4.2 Billion by 2023.

The global underwater robotics market is maturing at a whopping 13.06% CAGR over the review period of 2017 to 2023.

A few significant players of the global underwater robotics market are Saab AB (Sweden), Schilling Robotics, LLC (US), and Soil Machine Dynamics Ltd (UK).

The autonomous underwater vehicle (AUV) segment is expected to drive market growth over the review period.

The power distribution unit segment is likely to witness the highest demand in the underwater robotics market.