Underwater Robotics Market is anticipated to reach at USD 5,872 Million at a CAGR of 12.6% during the forecast period.

Introduction of the Underwater Robotics Market Report

Underwater robot, also known as autonomous underwater vehicle (AUV), refers to a robot that travels underwater without the need of input from an operator. The navigation and sensing techniques in the underwater robotics has allowed its applications in visual imaging of sea beds, detection of geological samples, and seismic monitoring of underwater oil fields. The underwater robots have a crucial role in the offshore oil and gas sector, maritime search and rescue, defence sector, and environmental monitoring. 

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Market Dynamic

Key Drivers and Emerging Trends

The global underwater robotics market is predicted to grow at a significant rate over the forecast period. The increasing utilization of these robots, particularly in underwater surveillance and offshore oil and gas exploration, is one of the major factors that is surging the demand of the market in the coming years. For example, the Remotely Operated Vehicles (ROVs) are being increasingly used for drilling, development, repair, and maintenance operations for offshore oil and gas exploration. Additionally, the increasing adoption of robotics in the defense and security application is another factor that is creating numerous growth opportunities for the market. Robotics has been used in the manufacturing sector over the past few years. The constant development and innovation for a more sophisticated and reliable application of underwater robotics, especially in the military and law enforcement sector, is further driving the growth of the market.

The government of the major economies is heavily investing in this technology for advanced military applications such as in intelligence, surveillance, investigation, communication, navigation, and various other uses. For example, the U.S. Defence Advanced Research Projects Agency (DARPA) signed a contract of USD 4.6 Million with BAE Systems for the development of Unmanned Underwater Vehicles (UUV). In addition to this, the government of China has deployed underwater drones, known as the Sea Wing Gliders, in the Indian Ocean, which are used for monitoring the activities of the naval forces of neighbor countries. Thus, the rising emphasis on underwater robotics will open new doors for the growth of the market during the forecast period. The underwater robotics technology has assisted in performing several tasks such as working in a challenging environment within the water bodies such as oceans, seas, and rivers, where the safety and accessibility of divers are compromised.

Restraint in the Underwater Robotics Market

However, on the other edge, the high initial capital investment required by underwater robotics is a major factor that is hampering the growth of the market during the forecast period. Moreover, the failures that might occur during the performing of underwater expeditions or surveys are further restraining the market growth.

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Type – Segment Analysis

Based on the Type, the Remotely Operated Vehicle (ROV) segment is anticipated to dominate the market during the forecast period. The continuous expansion of the offshore deep-sea oil and drilling sector is one of the biggest factors that is contributing to the growth of the segment in the market. The ROVs are increasingly used to perform various undersea operations such as drilling, underwater repairing, equipment assembling, and maintenance.

Application – Segment Analysis

On the basis of application, the commercial exploration segment is predicted to grow at a higher CAGR during the forecast period. This is mainly due to the increasing usage in offshore oil and gas exploration and in undersea mineral exploration activities. The underwater robotics technology is one of the important technologies miners use for exploring the deep sea mineral wealth. For example, a Canadian company, Nautilus Minerals, is planning to deploy underwater robots for the extraction of minerals such as gold, silver, and copper at a depth of 1,600 m near the Papua New Guinea waters.

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Regional – Segment Analysis

Based on the region, North America is expected to dominate the global underwater robotics market during the forecast period. This is attributed to the increasing number of offshore oil and gas exploration activities, particularly in European countries such as the United Kingdom, Spain, France, and other economies. On the other hand, the Asia Pacific region is projected to grow at a higher CAGR over the forecast period. The rising usage of underwater robotics in the defense and oil and gas exploration activities in countries such as China, India, South Korea, and Japan is one of the biggest factors that is responsible for the market growth in this region.

Top Market Players

Various notable players operating in the market include ATLAS MARIDAN Aps, Deep Ocean Engineering, Inc., Bluefin Robotics, ECA Group, International Submarine Engineering Limited, Inuktun Services Ltd., Oceaneering International, Inc., Saab Seaeye Ltd., Schilling Robotics, LLC, and Soil Machine Dynamics Ltd., among others. 

Key Developments:

• • In 2020, ECA Group signed a licensing agreement with SOACSY, a company specialized in the development of innovative acoustic systems and survey service, to provide a precise and efficient solution for buried mines detection and classification. The ECA Group will industrialize the seaCHIRP technology and ECA Robotics Belgium is help responsible for the development and industrialization of the seaCHIRP technology as a part of IES commitment of Belgium Naval & Robotics contract for the supple of 12 MCM ships for the Belgium and Netherlands navies.

Segments covered in the Report:

The global Underwater Robotics market has been segmented on the basis of Type, Application, and key regions. Based on Type, the market is segmented into ROV and AUV. Based on Application, the market is segmented into Commercial Exploration, Defense & Security and Scientific Research. 

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Key questions answered in this research report:

• • At what pace is global Underwater Robotics market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Underwater Robotics market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Underwater Robotics market?
  • Which Type generated maximum revenues in 2019 and identify the most promising Type during the forecast period?
  • What are the various Application areas of global Underwater Robotics market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD 5,872 Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	ATLAS MARIDAN Aps, Deep Ocean Engineering, Inc., Bluefin Robotics, ECA Group, International Submarine Engineering Limited, Inuktun Services Ltd., Oceaneering International, Inc., Saab Seaeye Ltd., Schilling Robotics, LLC, and Soil Machine Dynamics Ltd.,, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Underwater Robotics Market by Type

• • Remotely Operated Vehicle (ROV)
  • Autonomous Underwater Vehicles (AUV)

Global Underwater Robotics Market by Application

• • Defense & Security
  • Commercial Exploration
  • Scientific Research
  • Others

Global Underwater Robotics Market by Region

• • North America Underwater Robotics Market (Option 1: As a part of the free 25% customization)
    • North America Market by Type
    • North America Market by Application
    • US Underwater Market All-Up
    • Canada Market All-Up
  • Europe Underwater Robotics Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Type
    • Europe Market by Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Underwater Robotics Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Type
    • Asia-Pacific Market by Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Underwater Robotics Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Type
    • RoW Market by Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Underwater Robotics (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ATLAS MARIDAN Aps
  • Deep Ocean Engineering, Inc.
  • Bluefin Robotics
  • ECA Group
  • International Submarine Engineering Limited
  • Inuktun Services Ltd.
  • Oceaneering International, Inc.
  • Saab Seaeye Ltd.
  • Schilling Robotics, LLC
  • Soil Machine Dynamics Ltd.