Underwater Robotic Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Underwater Robotic Market Trends and Forecast

The future of the global underwater robotic market looks promising with opportunities in the defense & security, commercial exploration, and scientific research applications. The global underwater robotic market is expected to reach an estimated $2.38 billion by 2028 with a CAGR of 12.5% from 2023 to 2028. The major drivers for this market are rising number of offshore oil and gas exploration activities, increasing need for AUVs (autonomous underwater vehicle) for scientific research projects and underwater exploration, and growing adoption of underwater bots.

Underwater Robotic Market

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Underwater Robotic Market by Segment

The study includes trends and forecast for the global underwater robotic market by product type, application, and region, as follows:

Underwater Robotic Market by Product Type [Shipment Analysis by Value from 2017 to 2028]:

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

Underwater Robotic Market by Application [Shipment Analysis by Value from 2017 to 2028]:

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

Underwater Robotic Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Underwater Robotic Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, underwater robotic companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the underwater robotic companies profiled in this report include:

• Atlas Maridan
• Deep Ocean Engineering
• General Dynamics Mission Systems
• International Submarine Engineering
• ECA SA
• Eddyfi
• Oceaneering International

Underwater Robotic Market Insights

• Lucintel forecasts that autonomous underwater vehicles is expected to witness a higher growth over the forecast period due to the substantial utilization of such vehicles in the defense industry for surveillance, mine countermeasures, and anti-warfare applications.
• Commercial exploration segment will remain the largest segment due to the rising number of undersea mineral exploration activities and increasing usage of underwater robotic technology for discovering alternate oil as well as gas resources.
• North America will remain the largest region over the forecast period due to growing number of exploration operations in oceans and the existence of huge number of offshore reserves in the region.

Features of the Underwater Robotic Market

• Market Size Estimates: Underwater robotic market size estimation in terms of value ($B)
• Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Underwater robotic market size by various segments, such as by product type, application, and region
• Regional Analysis: Underwater robotic market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different by product type, application, and regions for the underwater robotic market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the underwater robotic market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

• Q1. What is the underwater robotic market size?
• Answer: The global underwater robotic market is expected to reach an estimated $2.38 billion by 2028.
• Q2. What is the growth forecast for underwater robotic market?
• Answer: The global underwater robotic market is expected to grow with a CAGR of 12.5% from 2023 to 2028.
• Q3. What are the major drivers influencing the growth of the underwater robotic market?
• Answer: The major drivers for this market are rising number of offshore oil and gas exploration activities, increasing need for AUVs (autonomous underwater vehicle) for scientific research projects and underwater exploration, and growing adoption of underwater bots.
• Q4. What are the major segments for underwater robotic market?
• Answer: The future of the global underwater robotic market looks promising with opportunities in the defense & security, commercial exploration, and scientific research applications.
• Q5. Who are the key underwater robotic companies?
• Answer: Some of the key underwater robotic companies are as follows:
  • Atlas Maridan
  • Deep Ocean Engineering
  • General Dynamics Mission Systems
  • International Submarine Engineering
  • ECA SA
  • Eddyfi
  • Oceaneering International
• Q6. Which underwater robotic segment will be the largest in future?
• Answer:Lucintel forecasts that autonomous underwater vehicles is expected to witness a higher growth over the forecast period due to the substantial utilization of such vehicles in the defense industry for surveillance, mine countermeasures, and anti-warfare applications.
• Q7. In underwater robotic market, which region is expected to be the largest in next 5 years?
• Answer: North America will remain the largest region over the forecast period due to growing number of exploration operations in oceans and the existence of huge number of offshore reserves in the region.
• Q8. Do we receive customization in this report?
• Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the global underwater robotic market by product type (remotely operated vehicle and autonomous underwater vehicles), application (defense & security, commercial exploration, scientific research, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?