Underwater Robotics
What combination of drivers is leading to accelerated growth in the underwater robotics market?
The escalation in offshore operations is anticipated to fuel the expansion of the underwater robotics market. These offshore operations, which primarily involve oil and gas extraction, the generation of renewable energy, or marine research conducted often outside a country’s territorial waters, are on the rise. Factors such as economic effectiveness, demand for energy, accessibility of resources, and geopolitical stability are driving this growth. Underwater robotics plays an essential role in improving offshore operations by facilitating accurate, efficient investigation and upkeep of underwater environments, thereby diminishing the potential risks and expenses linked to deep-sea tasks. For example, the Bureau of Economic Analysis stated in June 2024 that tourism, coastal and offshore recreation in the UK, surged by 8.1% or $16.5 billion, reaching a total of $219.7 billion. This marked it as the prime contributor to the growth in the 2022 marine economy’s real gross output. Hence, the rising number of offshore activities is bolstering the growth of the underwater robotics market.
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What is the projected compound annual growth rate (CAGR) of the underwater robotics market from 2025 to 2034, and what factors influence it?
The market size of underwater robotics has seen a significant growth recently. It is projected to increase from $4.04 billion in 2024 to $4.53 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 12.3%. The historical growth is largely due to the demand for deep-sea exploration and extraction. Other contributing factors include the necessity to safeguard and observe marine ecosystems, increased usage in search and rescue missions, the booming aquaculture industry, and the establishment of offshore wind farms.
Anticipated to see a swift expansion in the forthcoming years, the underwater robotics industry’s market size is projected to reach $7.14 billion by 2029, growing at a compound annual growth rate (CAGR) of 12.0%. Factors contributing to this growth during the predicted time frame include the reduction in costs of underwater robotic technology, heightened funding from government entities and research organizations, uptick in commercial ventures, the necessity for examinations and upkeep of aging underwater infrastructure, and rising curiosity from the public. Key trends for this time frame include technological advancements, the incorporation of artificial intelligence (AI) and machine learning, the creation of self-sufficient underwater vehicles, progress in sensors and communication, as well as cooperative and swarm robotics.
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How are the latest trends influencing the growth of the underwater robotics market?
Key players in the underwater robotics market are prioritizing the creation of superior imaging solutions to boost operational productivity and refine image quality during underwater ventures. The term “advanced imaging” in the context of underwater robotics refers to the employment of high-tech imaging tools and methods for acquiring, processing, and interpreting visual data in aquatic settings. For example, in April 2024, VideoRay, an American firm that manufactures portable underwater robots, introduced a novice-level underwater robot named Ally, to aid the maritime expeditionary standoff response (MESR) program. Thoughtfully designed to provide advanced functions in a condensed and easy-to-handle form, Ally is a suitable option for various kinds of underwater operations. Equipped with a cutting-edge 4K Ultra Smart camera that uses AI, it optimizes operational speed and data gathering. It features a strong, modular structure that can carry weighty payloads and diverse sensors, allowing operators to modify it to suit distinct tasks effortlessly.
What are the major segments of the underwater robotics market and their role in driving growth?
The underwater robotics market covered in this report is segmented –
1) By Type: Remotely Operated Vehicles (ROVs), Autonomous Underwater Vehicles (AUVs), Hybrid Remotely Operated Vehicles (ROVs) Or Autonomous Underwater Vehicles (AUVs), Unmanned Underwater Vehicles (UUVs), Surface-Supported Underwater Robotics
2) By Component: Light, Camera, Frame, Thrusters, Tethers, Pilot Controls, Other Components
3) By Task Type: Observation, Survey, Inspection, Construction, Intervention, Burial And Trenching, Other Task Types
4) By Application: Defense And Security, Oil And Gas Exploration, Marine Research And Exploration, Environmental Monitoring, Underwater Construction And Inspection, Search And Rescue Operations, Scientific Research
Subsegments:
1) By Remotely Operated Vehicles (ROVs): Observation ROVs, Work-Class ROVs, Lightweight ROVs, Tethered ROVs
2) By Autonomous Underwater Vehicles (AUVs): Survey AUVs, Exploration AUVs, Research AUVs, Military AUVs
3) By Hybrid Remotely Operated Vehicles (ROVs) or Autonomous Underwater Vehicles (AUVs): Dual-Mode Hybrid Vehicles, Intelligent Hybrid Systems, Multi-Functional Hybrid Robots
4) By Unmanned Underwater Vehicles (UUVs): UUVs for Defense Applications, UUVs for Commercial Use, Research UUVs
5) By Surface-Supported Underwater Robotics: Surface-Powered ROVs, Surface Vehicle-Integrated Systems, Buoyancy-Driven Underwater Robots
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Which regions are key players in the growth of the underwater robotics market?
North America was the largest region in the underwater robotics market in 2024. The regions covered in the underwater robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the underwater robotics market?
Major companies operating in the underwater robotics market are Lockheed Martin Corporation, BAE Systems plc, General Dynamics Mission Systems Inc., Huntington Ingalls Industries, TechnipFMC plc, Subsea 7 S.A., Kongsberg Maritime AS, Fugro N.V., Oceaneering International Inc., Forum Energy Technologies Inc., DOF Group ASA, Atlas Elektronik GmbH, BIRNS Inc., Eddyfi Technologies Inc., ECA Group, Saab Seaeye Ltd., Bluefin Robotics Corporation, Teledyne Marine Technologies Incorporated., International Submarine Engineering (ISE) Ltd., VideoRay LLC, Schilling Robotics LLC, Deep Ocean Engineering Inc.
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What Is Covered In The Underwater Robotics Global Market Report?
•Market Size Forecast: Examine the underwater robotics market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the underwater robotics market for a structured understanding.
•Key Players Overview: Analyze major players in the underwater robotics market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the underwater robotics market.
•Segment Contributions: Evaluate how different segments drive overall growth in the underwater robotics market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the underwater robotics market.
•Industry Challenges: Identify potential risks and obstacles affecting the underwater robotics market.
•Competitive Landscape: Review strategic developments in the underwater robotics market, including expansions, agreements, and new product launches.
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