Underwater Drone Market Trends, Top Companies, Share, Growth And Forecast 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Underwater Drone Global Market Report 2023 identifies a rise in defence expenses to modernize military forces
as the major driver for the underwater Drone market's growth in the forecast period. Military forces refer to the naval, military, and air forces, as well as every soldier who is a part of the armed forces. Every nation is adopting modernized and advanced weapons, such as underwater drones, to maintain its position of dominance and compete with rival nations. For instance, according to the International Institute for Strategic Studies, a recognized expert on international security, political risk, and armed conflict, in 2020, global defence spending climbed by 3.9% yearly to $1.83 trillion. Therefore, a rise in defence expenses around the globe is driving the growth of the underwater drone market.

The global underwater drone market size is expected to grow from $4.06 billion in 2022 to $4.53 billion in 2023 at a compound annual growth rate (CAGR) of 11.58%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The underwater drone market is expected to reach $6.54 billion in 2027 at a CAGR of 9.65%.

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Major competitors in the underwater Drone market are Saab Seaeye Ltd., Teledyne Marine Group, The Boeing Company, Lockheed Martin Corporation, Bluefin Robotics, Kongsberg Maritime, ECA Group, Oceaneering International Inc., TechnipFMC PLC., Deep Ocean Engineering Inc., Atlas Elektronik GmbH, Power Vision Inc and Boeing Company.

A key trend in the underwater Drone market includes technological advancement. Major companies operating in the market are using advanced technologies, such as artificial intelligence to sustain their position in the underwater drone market. Artificial intelligence (AI) is the emulation of human intelligence in devices that have been designed to act and think like humans. AI can guide drones to perform autonomous operations. For instance, in June 2022, QYSEA Technology, a China-based company specializing in underwater robots and drones launched a vision platform powered by AI that gives its FIFISH underwater robots precision underwater active visual locking capabilities. The AI Vision Lock technology can easily and precisely visually lock onto chosen targets in any underwater environment. The ROV will automatically change its position and lock the target in the middle of the screen after the user just presses on the region of interest on the APP screen. The FIFISH user's operational efficiency and current resistance are improved when the AI Vision Lock is activated.

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The underwater Drone market is segmented -
• By Type: Remotely Operated Vehicle, Autonomous Underwater Vehicles, Hybrid Vehicles

• By Product Type: Micro, Small And Medium, Light Work-Class, Heavy Work-Class

• By Propulsion : Electric System, Mechanical System, Hybrid System

• By Application: Defense And Security, Scientific Research, Commercial Exploration, Others Applications

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the underwater Drone market.

The Business Research Company's "Global Underwater Drone Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Underwater Drone Market Include:
1. Executive Summary
2. Underwater Drone Market Characteristics
3. Underwater Drone Market Trends And Strategies
4. Underwater Drone Market - Macro Economic Scenario
5. Underwater Drone Market Size And Growth
……
26. Africa Underwater Drone Market
27. Underwater Drone Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Underwater Drone Market
29. Underwater Drone Market Future Outlook and Potential Analysis
30. Appendix

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