Underwater Drone Global Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Underwater Drone Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $7.41 billion In 2028 At A CAGR Of 10.6% :

The underwater drone market size has grown rapidly in recent years. It will grow from $4.48 billion in 2023 to $4.96 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to ocean exploration and research, defense and naval applications, oil and gas industry inspections, environmental monitoring, search and rescue operations, aquaculture monitoring, film and media production, commercial fishing operations, mapping and surveying.

The underwater drone market size is expected to see rapid growth in the next few years. It will grow to $7.41 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to expansion of underwater mining activities, monitoring and mitigation of climate change impact, development of autonomous underwater vehicles (auvs), emergency response and disaster recovery, drones as a service (daas) models. Major trends in the forecast period include diverse sensor integration, underwater drone swarms, hybrid underwater-air systems, underwater communication technologies, commercial fisheries monitoring, integration of artificial intelligence (ai), miniaturization of underwater drone technology.

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Underwater Drone Market Major Segments
The underwater drone market covered in this report is segmented -

1) By Type: Remotely Operated Vehicle, Autonomous Underwater Vehicles, Hybrid Vehicles
2) By Product Type: Micro, Small And Medium, Light Work-Class, Heavy Work-Class
3) By Propulsion : Electric System, Mechanical System, Hybrid System
4) By Application: Defense And Security, Scientific Research, Commercial Exploration, Others Applications

Key Driver - Global Defense Modernization Initiatives Drive Growth In Underwater Drone Market

A rise in defence expenses to modernize military forces across the globe is expected to propel the underwater drone market. 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, in April 2023, according to The Peter G. Peterson Foundation, a US-based non-profit organization, U.S. defense expenditure rose by $71 billion between 2021 and 2022. Therefore, a rise in defence expenses around the globe is driving the growth of the underwater drone market.

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Prominent Trend - Technological Advancements Driving Innovation In Underwater Drone Market

Technological advancements are the key trends gaining popularity in the underwater drone market. 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.

Underwater Drone Market Players
Major companies operating in the underwater drone market report are Saab Seaeye Ltd., Teledyne Marine Group, The Boeing Company, Lockheed Martin Corporation, Bluefin Robotics Inc., Kongsberg Maritime AS, ECA Group SA, Oceaneering International Inc., TechnipFMC PLC, Deep Ocean Engineering Inc., Atlas Elektronik GmbH, Power Vision Technology Group Co. Ltd., Boeing Company, Thales Group, General Dynamics Corporation, Terradepth Inc., ecoSUB Robotics Ltd., Eelume AS, Nido Robotics, Neptune Robotics Corporation, Aquabotix Technology Corporation, OpenROV Inc., SeaDrone Inc., Aquatic Drones, Ocean Infinity Ltd., Ocean Aero Inc., OceanAlpha Inc., Ocean Power Technologies Inc., SeaRobotics Corporation, SeaView Systems Inc., Shark Marine Technologies Inc., Subsea Tech AS, VideoRay LLC, International Submarine Engineering Ltd.

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the underwater drone market in 2023. The regions covered in the underwater drone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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

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