Underwater Robotics Market

Global Underwater Robotics Market is anticipated to reach at USD 5,872 Million, registering a CAGR of 12.6% during the forecast period (2020-2027), owing to the growing adoption of underwater robotics to perform functions like device repairing, cable laying, and critical analysis.

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Key Drivers

The global underwater robotics market is expected to witness a promising growth over the upcoming years, owing to the growing adoption of underwater robotics across the military and defense industries for security applications because of the ability of underwater robotics to perform several functions in challenging conditions within the water bodies like seas, rivers, and oceans. Thus, the growing demand for underwater robotics across the defense and military industry to monitor underwater activities, is fuelling the market growth.

Increasing investment of underwater robotics by leading technology for advanced military applications like investigation, communication, navigation, and intelligence is expected to offer enormous opportunities to the market. For instance, the U.S. Defence Advanced Research Projects Agency (DARPA) entered into a contract of USD 4.6 Million with BAE Systems to develop Unmanned Underwater Vehicles (UUV). Growing use of underwater robots, primarily in underwater surveillance and offshore oil and gas exploration, is fueling the way for the market. For example, increasing deployment of Remotely Operated Vehicles (ROVs) to carry drill, develop, and repair operations for offshore oil and gas exploration while overpowering the shortcomings of human subsea drivers has paved the way for market.

However, the huge initial capital required in underwater robotics is a major factor restricting the market during the forecast period. Moreover, high chances of failure during the functioning of underwater expeditions or surveys will restrict the market growth.

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Type – Segment Analysis

Remotely Operated Vehicle (ROV) segment is forecast to lead the market over the forecast period. Augmenting adoption of these vehicles in the offshore deep-sea oil drilling applications to carry out undersea operations like drilling, equipment assembling, underwater repair, and maintenance. AUV segment is estimated to witness a higher CAGR over the upcoming years, because of the growing adoption in defense applications like mine counter measurement, anti-warfare application, and surveillance.

Application – Segment Analysis

Commercial exploration application is estimated to witness a higher CAGR over the upcoming years, owing to the growing deployment in offshore oil and gas exploration and in undersea mineral exploration activities. The underwater robotics technology has bolstered the adoption of deep-sea to explore mineral wealth. For example, a leading Canadian company, Nautilus Minerals, has decided to use underwater robots to extract minerals such as gold, silver, and copper at a depth of 1,600 m near the Papua New Guinea waters.

The defense and security application is predicted to grow at a faster CAGR over the forecast period, owing to the surging demand for underwater surveying, intelligence, surveillance, and reconnaissance (ISR) activities, in submarines, naval mines, and other objects is forecast to strengthen the market growth.

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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. The market is driven by the growing investments in self-driven marine vehicles across nations like Australia, Japan, and South Korea and growing deployment in defense and Commercial Exploration exploration programs will augment the regional growth.

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 2021 – Fugro was provided a contract by Equinor to facilitate a deep-water sea site investigation in Canadian Flemish Pass using Echo Surveyor VIII, Fugro’s newest autonomous underwater vehicle.
  • In 2020 – ABB Limited entered into a partnership with Covariant to introduce AI-enabled robotics solutions to market, with a completely autonomous warehouse order fulfillment solution, and the collaboration intends to bring the two companies with a common vision for robotics enabled by AI, where intelligent robots work alongside humans in dynamic environments, collectively learning and improving with every task completed.
  • In 2020 – SoftBank Robotics Group and Bear Robotics, a robotics and artificial intelligence company, collaborated to develop a new robot named SERVI for use in the foodservice and hospitality industry. September 2021 – Fugro was awarded a contract by TotalEnergies to investigate Geohazard Site in Suriname, which encompasses geophysical data and geotechnical soil samples.
  • 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?

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.