Global Underwater Drone Market By Type (Remotely Operated Vehicle (ROV), Autonomous Underwater Vehicles (AUV), and Hybrid Vehicles), By Product Type, By Propulsion System, By Application, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2023, the Global Underwater Drone Market was valued at USD 4.4 Billion, this market is estimated to register the highest CAGR of 12.4% and is expected to reach USD 12.2 Billion during the forecast period of 2023 to 2032.

Underwater drones, also known as unmanned underwater vehicles, can function underwater without any human occupants. These underwater drones are divided into two categories: ROVs, also called remotely operated vehicles, and AUVs, also called autonomous underwater vehicles. A distant human operator operates these ROVs drones. And the AUVs do not need real-time human input and can operate automatically.

The market’s growth is driven by the continuous integration of advanced technologies in underwater drones, such as superior manipulator arms, high-resolution cameras, etc., which have created many opportunities in the market. In addition, the rise in the demand for underwater drones for defense and security, exploration of deep water offshore oil and gas, and the demand for the product to modernize military forces by the government are the factors driving the market growth. However, problems such as communication problems associated with the AUVs are the main factor restraining the growth of the market.

Key Takeaway

• Market Statistics: By 2032, the global underwater drone market is projected to reach USD 12.2 billion at an average compound annual growth rate of 12.4% from 2022-2033.
• Demand: Demand for underwater drones is being driven by several factors, such as: increasing interest in exploration and inspection activities under water and an upswing in oceanographic research activities.
• Type Analysis: Remotely Operated Underwater Vehicles (ROVs) represent the fastest-growing segment in the market.
• Product Type Analysis: The Heavy work class segment dominates the growth of the market.
• Propulsion System Analysis: The electric system segment dominates the growth of the market.
• Application Analysis: The Defense Security Sector has seen unprecedented expansion.
• Drivers: An increase in demand for underwater exploration and inspection activities
• Restraints: The high cost of underwater drones presents as one of the major barriers.
• Opportunities: Exploration of underwater drone rental and leasing services provides an exciting prospect.
• Challenges: To develop underwater drones with extended battery lives.
• Regional Analysis: North America Has Been Responsible For Most Market Growth Over Time.
• Top Key Players: ATLAS ELEKTRONIK GmbH, Blueye Robotics, Deep Ocean Engineering Inc., Deep Trekker Inc., General Dynamics Corporation, iBubble, Kongsberg Gruppen ASA, Lockheed Martin Corporation, Oceaneering International Inc., Saab Seaeye Limited, Teledyne Marine, The Boeing Company, Other Key Players

Type Analysis

The Remotely Operated Underwater Vehicle Segment Dominates The Growth Of The Market.

The (ROV) remotely operated underwater vehicles segment dominates the growth of the market. The ROVs are the most common segment which is used in critical missions and are the best for unpredictable and rough terrains.

The autonomous underwater vehicle (AUV) segment will grow at a significant rate during the forecasted period. The major players in the market are focusing on the development of AUVs, which can increase the efficiency of the vehicle and decrease human interference.

Product Type Analysis

The Heavy Work Class Segment Dominates the Market

The Heavy work class segment dominates the growth of the market. The high capacity underwater drones are used for deepwater surveys. The heavy work class vehicles are featured with advanced technologies like communication systems, navigation & positioning system, and a wide range of systems. These heavy work class vehicles are used for deep water surveys, with improved efficiency and decreased downtime.

It can also be used for extreme lifting. The market can see significant growth with greener technologies and by meeting pollution norms in the heavy work class. The small vehicle segment will grow significantly during the forecasted period. The small vehicle segment will grow due to its increased uses in applications such as monitoring, observations of water columns, and benthic zones.

Propulsion System Analysis

The Electric System Segment Dominates the Market.

The electric system segment dominates the growth of the market. Autonomous underwater vehicles do not need any complex support system to operate. Autonomous underwater vehicles don’t need any external power. They carry their own energy source. The mechanical segment can see significant growth during the forecasted period. The manufacturing of various AUV components, their designing, and prototyping are the factors responsible for the segment’s growth

Application Analysis

The Defence Security Segment Dominates the Market

The defense security segment dominates the growth of the market. The segment’s growth can be seen due to the rise in the use of unmanned underwater drones in the defense forces for detecting maritime security threats such as seabed mines, submarine warfare, anti-submarine missiles, etc.

Some of the major key players in the market focus on developing advanced vehicles for critical missions. These vehicles are integrated with advanced technologies capable of doing naval operations. The commercial exploration segment will see significant growth during the forecasted period. The increase in the use of underwater drones for commercial applications is driving the segment’s growth.

Key Market Segments

Based on Type

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

Based on Product Type

• Micro
• Small & Medium
• Light Work-Class
• Heavy Work-Class

Based on the Propulsion System

• Electric System
• Mechanical System
• Hybrid System

Based on Application

• Defence & Security
• Scientific Research
• Commercial Exploration
• Other Applications

Driving Factors

Rise in the Demand for the Underwater Drones in the Defence and Security Applications

The rise in the demand for deepwater oil and gas production will drive the market’s growth. Some key players in oil and gas production, such as Shell, have succeeded in the deep water well exploration projects, which discovered oil wells that were 400 feet deep.

The growth in the demand for deepwater exploration will drive the growth of the underwater drone market. Underwater drones have also increased in many commercial applications such as seabed imaging, seafloor mapping, etc. The use of underwater drones in defense and security applications is also driving the market’s growth.

The underwater drone can be used for underwater investigations, monitoring, and gathering information in defense and security applications. These drones are beneficial for performing risky tasks under the water without any human interference. These are the factor driving the growth of the market.

Restraining Factors

High-Cost of Laser Communication Systems and the Lack of Effective Communication

Communication and signal transmission is the major factor restraining the market’s growth. Due to the distortion of the information under the water, communication, and signal transmission is the major problem in the underwater drone market.

The uses and the communication establishment are based on acoustic wave transmission, which delays up to two seconds, and can cause slow movement. The solution to the problem is the laser communication system, but the adoption rate of this system has decreased due to the high cost of the product. There are the main factors that are restraining the growth of the market.

Growth Opportunity

The Increase in the Use of Underwater Drones for Anti-Submarine Warfare and Mine Disposal

The rise in the demand for underwater drones for mine disposal and the use of anti-submarine warfare operations is a major opportunity for the growth of the market. Previously the militaries used to use underwater drones for various applications such as seabed mapping, inspection, and security.

But due to technological advancement, underwater drones are used for dangerous missions such as anti-submarine warfare and mine disposal. These are the main opportunities that will fuel the growth of the market.

Latest Trends

The Rise in the Adoption of the Underwater Drones for the Defence and Navy Departments

The rise in the adoption of underwater drones for deepwater exploration is driving the growth of the market. The rise in the application of the AUVs and ROVs is also a factor in driving the market’s growth. The growth is also fueled by the continuous innovation in products and the integration of Artificial intelligence and machine learning in underwater drones.

The defense and the navy departments are investing in the use of underwater drones for various missions and applications. Due to the maritime security threats experienced by the primary defense forces across the world, such as underwater mines, torpedo threats, short-range anti-ship missiles, etc. is, driving the growth of the market.

Regional Analysis

North America Dominates The Growth Of The Market.

North America dominates the growth of the market and holds the largest market share during the forecasted period. The rise in the demand for ROVs in the commercial and defense sectors is the major factor driving the market growth in the region.

The development is also anticipated with the rise in the use of AUVs for deep water exploration for oil and gas production. The APAC region is anticipated to witness significant growth during the forecasted period. The rise in investments in the defense sector from several countries, such as India, China, Japan, etc., is driving market growth in the region. The countries have increased their budgets for defense and the adoption of underwater drones for naval operations.

Note: Actual Numbers Might Vary In Final Report

Key Regions and Countries Covered in this Report:

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
  • APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Share and Key Players Analysis

The major key players in the market are focusing on the expansion of their business through contracts with the defense forces of several countries. Companies are heavily investing in research and development activities for the development of the underwater drone market. And companies are also focusing on solving the problem of lack of effective communication, which will eventually drive the growth of the market.

Top Key Players in Underwater Drone Market:

• ATLAS ELEKTRONIK GmbH
• Blueye Robotics
• Deep Ocean Engineering Inc.
• Deep Trekker Inc.
• General Dynamics Corporation
• iBubble
• Kongsberg Gruppen ASA
• Lockheed Martin Corporation
• Oceaneering International Inc.
• Saab Seaeye Limited
• Teledyne Marine
• The Boeing Company
• Other Key Players

Recent Developments

• The Norwegian Defence material industry collaborated with Kongsberg Defense and Aerospace in June 2022. This collaboration was done to improve the combat system of the Skjold class ship as a part of a lifetime extension.
• Aker Arctic, which is a design, engineering, development, and consulting company, signed a contract with Kongsberg Maritime in June 2022. In this collaboration, the KM will be supplying shafts and propellers for the newly built corvette ships.

Report Scope