Global Underwater Drones Market Size To Exceed USD 9.8 Billion By 2033 | CAGR of 9.65%
The Global Underwater Drones Market Size was Valued at USD 3.9 Billion in 2023 and the Worldwide Underwater Drones Market Size is Expected to Reach USD 9.8 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies Covered: Aeromedevac, SHM Shipcare, Falck A/S, Air Methods Corporation, Harmonie Ambulance, BVG India Limited, Babcock Scandinavian Air Ambulance, Acadian Ambulance Service and Other Key Vendors.
New York, United States, Feb. 19, 2024 (GLOBE NEWSWIRE) -- The Global Underwater Drones Market Size is Expected to Grow from USD 3.9 Billion in 2023 to USD 9.8 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 9.65% during the projected period.
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Underwater drones, also known as unmanned underwater vehicles (UUV), are vehicles that can operate under water (ocean and sea) without a human occupant. These vehicles are broadly classified into two types, first remotely operated underwater vehicles (ROVs), which are controlled throughout their operations by a remote human operator, and second autonomous underwater vehicles (AUVs), which can function autonomously without any real-time human inputs. Technological advancements in unmanned underwater vehicles, such as high-resolution cameras, superior manipulator arms, and highly sensitive sonar, have resulted in a reduction in the time required to inspect equipment and other submerged items, opening up a plethora of opportunities in the underwater drone market. Underwater drones are increasingly being used in the offshore oil and gas industry for infrastructure inspection, maintenance, and repair, which is driving market growth. The high demand for underwater drones in the marine industry is driving market expansion, particularly for underwater survey missions. However, the limited remote-control range of underwater drones limits their market growth. This limitation stems from the use of radio waves, which do not propagate well through water, and direct-beam optical communication systems, which rely on line of sight and water turbidity for range.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the* "Global Underwater Drones Market Size, Share, and COVID-19 Impact Analysis, By Type (Remotely Operated Vehicle (ROV), Autonomous Underwater Vehicles (AUV), Hybrid Vehicles), By Product Type (Micro, Small & Medium, Light Work-Class, Heavy Work-Class, Others), By Propulsion System (Electric System, Mechanical System, Hybrid System), By Application (Defense & Security, Scientific Research, Commercial Exploration, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."*
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*The autonomous underwater vehicles (AUV) segment is expected to hold the largest share of the global underwater drones market during the forecast period*.
Based on the type, the global underwater drones market is categorized into remotely operated vehicle (ROV), autonomous underwater vehicles (AUV), and hybrid vehicles. Among these, the autonomous underwater vehicles (AUV) segment is expected to hold the largest share of the global underwater drones market during the forecast period. Autonomous underwater vehicles (AUVs) are essential components of oceanographic research because they can collect data, conduct exploration, and generate 3D maps or reconstructions. Because of their ability to inspect and maintain submerged facilities, AUVs are expected to be in high demand from the oil and gas sector over the forecast period.
*The light work-class segment is expected to hold the largest share of the global underwater drones’ market during the forecast period*.
Based on the product type, the global underwater drones market is categorized into micro, small & medium, light work-class, heavy work-class and others. Among these, the light work-class segment is expected to hold the largest share of the global underwater drones’ market during the forecast period. Maintenance and inspections can be carried out using underwater drones classified as light work. The underwater vehicle can be equipped with laser scanners, as well as specific inspection devices and sensors. These drones can be used for commercial, defense and security, or research purposes.
*The electric system segment is expected to hold the largest share of the global underwater drones’ market during the forecast period*.
Based on the propulsion system, the global underwater drones’ market is divided into electric system, mechanical system, and hybrid system. Among these, the electric system segment is expected to grow at fastest pace in the underwater drones market during the forecast period. Electric propulsion systems are known for being more energy efficient than traditional internal combustion engines. They can convert a larger portion of the energy from the power source into thrust, resulting in longer mission durations and lower operational costs.
*The defense & security segment is expected to hold the largest share of the global underwater drones’ market during the forecast period.*
Based on the application, the global underwater drones market is divided into defense & security, scientific research, commercial exploration, and others. Among these,s the defense & security segment is expected to grow at fastest pace in the Underwater Drones market during the forecast period. Organizations in charge of port security and maritime rescue are increasingly using underwater drones. ROVS/AUVS are ideal for scanning and observation purposes. Underwater drones are useful for a wide range of defense and security applications, including port security, criminal investigations, search and recovery, training, and more.
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*North America is anticipated to hold the largest share of the global underwater drones market over the predicted timeframe.*
North America is projected to hold the largest share of the global underwater drones market over the forecast period. North America is projected to hold the largest share of the global underwater drones’ market over the forecast period. North America is expected to witness an increase in demand for underwater drones, driven primarily by increased procurement of ROVs and AUVs for military modernization. For instance, beginning in November 2022, the United States nuclear attack submarine fleet will be able to launch and recover underwater drones via torpedo tubes, allowing any submarine in the fleet to operate them while on patrol.
Asia Pacific is expected to grow the fastest in the global underwater drones market during the forecast period. Several Asia-Pacific countries are increasing their defense spending, which is driving up demand for underwater drones in naval and maritime security applications. Furthermore, China's underwater drone market had the highest market share, while India's underwater drone market was the fastest growing in the Asia-Pacific region.
*Competitive Analysis:*
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global underwater drones market are Aeromedevac, SHM Shipcare, Falck A/S, Air Methods Corporation, Harmonie Ambulance, BVG India Limited, Babcock Scandinavian Air Ambulance, Acadian Ambulance Service and others.
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*Recent Development*
· *In September 2021, *TotalEnergies awarded Fugro a contract to investigate the Geohazard Site in Suriname, including geophysical data and geotechnical soil samples.
*Market Segment*
This study forecasts revenue at global, regional, and country levels from 2022 to 2033. Spherical Insights has segmented the Global Underwater Drones Market based on the below-mentioned segments:
*Global Underwater Drones Market, By Type*
· Remotely Operated Vehicle (ROV)
· Autonomous Underwater Vehicles (AUV)
· Hybrid Vehicles
*Global Underwater Drones Market, By Product Type*
· Micro
· Small & Medium
· Light Work-Class
· Heavy Work-Class
· Others
*Global Underwater Drones Market, By Propulsion System*
· Electric System
· Mechanical System
· Hybrid System
*Global Underwater Drones Market, By Application*
· Defense & Security
· Scientific Research
· Commercial Exploration
· Others
*Global Underwater Drones Market, By Region*
· North America
· US
· Canada
· Mexico
· Europe
· Germany
· Uk
· France
· Italy
· Spain
· Russia
· Rest of Europe
· Asia Pacific
· China
· Japan
· India
· South Korea
· Australia
· Rest of Asia Pacific
· South America
· Brazil
· Argentina
· Rest of South America
· Middle East & Africa
· UAE
· Saudi Arabia
· Qatar
· South Africa
· Rest of the Middle East & Africa
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