Underwater Robotics Market Analysis | 2023-2029

Market Insights

The underwater robotics market was estimated at USD 3.25 billion in 2022 and is likely to grow at a CAGR of 8.8% during 2023-2029 to reach USD 5.85 billion in 2029.

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Market Dynamics

Introduction

Underwater robotics is the field of robotics that deals with the design, development, and deployment of robotic systems in underwater environments. These systems are designed to perform a variety of tasks such as exploration, mapping, surveillance, and maintenance in underwater locations that are difficult or impossible for humans to access.

Underwater robotics typically involves the use of remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs). These vehicles are equipped with a variety of sensors, cameras, and other equipment that allow them to navigate through the water, collect data, and perform tasks such as inspecting underwater structures and pipelines, searching for lost objects, and studying marine life.

The use of underwater robotics has numerous benefits, including reduced risk to human divers, increased efficiency and accuracy in data collection, and improved safety and reliability in underwater operations. These systems are used in a variety of industries, including oil and gas exploration, marine biology, oceanography, and underwater archaeology.

As technology continues to advance, the capabilities of underwater robotics are also increasing, with new developments such as soft robotics and advanced sensor technologies enabling more sophisticated and precise underwater operations.

Market Drivers

The underwater robotics market is being driven by several factors, including increase in offshore oil and gas activities, growing demand for oceanography research, growth in the aquaculture industry, increase in maritime security concerns, and technological advancements.

The demand for underwater robotics is increasing due to the growth of offshore oil and gas activities, which require underwater robots for exploration, drilling, and maintenance. The increasing demand for oceanography research and exploration is driving the growth of underwater robotics.

These robots can be used to collect data and samples from the ocean floor, providing researchers with valuable insights into marine life, underwater geology, and climate change. The aquaculture industry is expanding rapidly, and underwater robots are being used to monitor fish populations, feed fish, and inspect underwater cages and nets.

The use of underwater robotics is increasing in the area of maritime security, with unmanned underwater vehicles (UUVs) being used for tasks such as mine detection and neutralization, underwater surveillance, and port security. Advances in technology are making underwater robotics more capable and affordable, with robots becoming smaller, lighter, and more efficient. This is driving the growth of the underwater robotics market as more applications become possible.

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Market Restraints

While there are several drivers that are fueling the growth of the underwater robotics market, there are also some restraints that are limiting its growth. Some of these restraints include high cost, technological challenges, limited operating range, safety concerns, and environmental impact.

The cost of developing and deploying underwater robots can be high, which can limit the adoption of these technologies, particularly in developing countries. Underwater environments present a host of technological challenges, such as low visibility, harsh conditions, and communication difficulties. This can make it difficult to develop and operate underwater robots effectively.

Underwater robots typically have limited operating ranges due to power and communication limitations. This can restrict the scope of their applications and limit their usefulness. Underwater robots can pose safety risks to humans and marine life, particularly in the case of larger robots or those used for industrial applications.

This can lead to regulatory challenges and public concerns that may limit their deployment. The use of underwater robots can have environmental impacts, particularly if they are used for oil and gas exploration or other industrial applications. This can lead to regulatory challenges and public concerns that may limit their adoption.

Segment Analysis

By Type

The underwater robotics market can be segmented by type into remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs). Currently, the remotely operated vehicles (ROVs) segment is dominating the global underwater robotics market.

ROVs are controlled by human operators and are connected to the surface via cables, which provide power and communication. They are widely used for underwater inspections, maintenance, and repair of offshore oil and gas installations, as well as for scientific research and exploration. The ability to control ROVs remotely makes them ideal for operations in deep or dangerous waters, as well as for applications that require precise movements and manipulations.

The AUV segment of the underwater robotics market is also growing, but it currently accounts for a smaller share of the market. AUVs are unmanned vehicles that operate independently and do not require human intervention once they are deployed. They are typically used for scientific research, oceanographic surveys, and environmental monitoring.

By Application Type

The underwater robotics market can be segmented by application into commercial exploration, scientific research, defense and security, and others. Currently, the commercial exploration segment is dominating the global underwater robotics market.

The commercial exploration segment includes applications such as offshore oil and gas exploration, underwater mining, and maritime archaeology. These applications require underwater robots to perform tasks such as surveying, inspection, and maintenance of underwater infrastructure. The demand for underwater robots in these industries is driven by the need for more efficient and cost-effective exploration and production methods, as well as increasing concerns about safety and environmental impacts.

The scientific research segment is also a significant contributor to the underwater robotics market, particularly in areas such as oceanography, marine biology, and geology. Underwater robots are used for tasks such as mapping the seafloor, collecting samples, and monitoring marine life.

The defense and security segment is another important application area for underwater robots. Unmanned underwater vehicles (UUVs) are used for tasks such as mine detection and neutralization, underwater surveillance, and port security.

Regional Insights

The global underwater robotics market is a highly competitive and dynamic market with several players operating in the market. In terms of regional dominance, North America is currently the largest market for underwater robotics. North America dominates the market due to the presence of several key players in the region and the high demand for underwater robotics in industries such as offshore oil and gas exploration, scientific research, and defense and security. Additionally, the region has well-established infrastructure and government initiatives for the development and deployment of underwater robotics.

Europe is the second-largest market for underwater robotics, driven by the growth of offshore wind energy and underwater mining industries. The Asia Pacific region is also expected to grow in the coming years due to the increasing demand for underwater robots in the oil and gas industry and the growth of the aquaculture industry in the region.

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Key Players

The major players operating in the underwater robotics market are:

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

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s underwater robotics market realities and future market possibilities for the forecast period of 2023 to 2029. After a continuous interest in our underwater robotics market report from the industry stakeholders, we have tried to further accentuate our research scope to the underwater robotics market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The underwater robotics market is segmented into the following categories:

By Type

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

By Application Type

• Defense & Security
• Commercial Exploration
• Scientific Research

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]

Recent Developments

• In January 2023, US-based Nauticus Robotics’ new subsea robots, Aquanauts and Hydronauts, will head into the wild and closer to full commercialization this year, with testing planned in Norway and in the Gulf of Mexico.
• In December 2022, Exail's A18D underwater drone was chosen by DGA, the French defense procurement agency, for seabed operations.