Underwater Robotics Market Analysis Report By Type, By Application, By Region And Segment Forecasts From 2018 To 2025

Industry Insights

The underwater robotics market across the globe generated a revenue of USD 2.52 billion in 2017. It is expected to witness growth with a 13.5% CAGR over the forecasted years, 2018 to 2025. This growth can be associated with their increasing demand for carrying out activities like offshore gas & oil exploration coupled with the rising need for underwater surveillance. For example, ROVs (Remotely Operated Vehicles) are largely being used for activities like development, drilling, maintenance, and repair operations which can enhance efficiency as compared to that of human divers.

The rising adoption of robotics technology for security and defense applications is also anticipated to gain momentum in the upcoming years. Rapid advances being carried out in the technology sector have resulted in the emergence of more reliable and sophisticated products that can be used for law enforcement and military applications.             

Previously, the submarine was largely used for underwater surveillance. But, the emergence of robotics technology has resulted in the usage of this technologically advanced equipment. Several statutory governing bodies have started investing in the development of such technologies for carrying out applications like investigation, surveillance, intelligence, communication/navigation, and oceanography. For example, the DARPA (Defense Advanced Research Projects Agency) had signed a USD 4.6 million contract with a player named BAE Systems for developing UUV (Unmanned Underwater Vehicle).

The major concerns arising in underwater robotics deployment are communication and navigation. The transmission of information for communication takes place through sound, FSO (free-space optical), and electromagnetic waves. The underwater communication through sound waves is getting affecting by temperature gradients and surface ambient noise.

Type Insights

The segment of ROV (Remotely Operated Vehicle) held the largest share of around 86.0% across the global market in 2017. This can be associated with the surging offshore deep-sea drilling and oil industry across the globe. But, these ROVs are anticipated to witness a loss in the market share owing to the emergence of AUV (Autonomous Underwater Vehicles).

The segment of AUV is anticipated to register the highest growth during the forecasted period, 2018 to 2025. This growth can be attributed to the rising adoption and demand across the defense sector for carrying out activities like anti-warfare applications; mine counter measurement, and surveillance. Further, activities like water sample testing, research on polar ice, mapping of the ocean floor are expected to drive market growth in the upcoming years.

Application Insights

The global underwater robotics market can be further segmented into defense & security, scientific research, commercial exploration, and others. In 2017, the commercial exploration segment held the largest share across the global market. It is anticipated to continue its dominance with a 14.8% CAGR during the forecasted years, 2018 to 2025.

This can be associated with the surging need for carrying out offshore gas, oil, and undersea mineral exploration activities. The majority of the players engaged in mining are using robotics technology for extracting mineral deposits beneath the sea bed. For example, Nautilus Minerals is expected to deploy several underwater robots for extracting minerals like copper, silver, and gold at 1,600m depth.

Regional Insights

In 2017, Europe held the largest share across the global market and generated a revenue of USD 855.6 Million.  It is also anticipated to register significant growth across the globe on account of surging offshore gas and oil exploration activities. For example, a Russian firm named Lukoil has constructed the third well across Filanovsky fiend near the Caspian sector.

The Asia Pacific is anticipated to register the highest growth during the forecasted years, 2018 to 2025. This can be associated with the surging usage of such underwater robotic products for carrying out oil exploration and defense activities across countries like India, China, and Japan.

Underwater Robotics Market Share Insights

The market is facing strong competition due to the surging number of major and small players offering various types of AUV and ROV products. The key players in this market are Schilling Robotics LLC, International Submarine Engineering, Oceaneering International, Bluefin Robotics Corp, Inuktun Services Ltd., ATLAS MARIAN Aps, ECA Group, Soil Machine Dynamics Ltd. and Saab AB.

Few major players dominated the global market. However, small companies developing innovative products are challenging the major players. Several players are engaged in product development and innovation to gain a competitive advantage over other players. For example, Oceaneering International, Inc. declared its AUV operations expansion across the region of West Africa.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2014 to 2025 in each of the sub-segments. For the purpose of this study, Million Insights has segmented the global underwater robotics market report based on type, application, and region:

• Type Outlook (Revenue, USD Million, 2014 - 2025)
    • Remotely Operated Vehicle (ROV)
    • Autonomous Underwater Vehicles (AUV)

• Application Outlook (Revenue, USD Million, 2014 - 2025)
    • Defense & Security
    • Commercial Exploration
    • Scientific Research
    • Others

• Regional Outlook (Revenue, USD Million 2014 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
        • France
        • Russia
    • the Asia Pacific
        • China
        • India
        • Japan
        • Australia
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa