Underwater Drone Market Set to Reach $7.98 Billion by 2029 with 10% Yearly Growth

What combination of drivers is leading to accelerated growth in the underwater drone market?
The escalation in defense spending to revolutionize military forces worldwide is anticipated to drive the underwater drone market. Military forces include naval, military and air forces, alongside every individual serving in the armed forces. Countries around the world are embracing advanced and modern weaponry like underwater drones in order to maintain their global dominion and provide competition to enemy nations. For example, The Peter G. Peterson Foundation, a non-profit organization based in the US, reported in April 2023 that the U.S. defense expenditure has increased by $71 billion from 2021 to 2022. Consequently, the boost in defense spending globally is fueling the expansion of the underwater drone market.

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What is the projected compound annual growth rate (CAGR) of the underwater drone market from 2025 to 2034, and what factors influence it?
The size of the underwater drone market has experienced robust growth in recent years. It is projected to increase from $4.86 billion in 2024 to $5.36 billion in 2025, with a compound annual growth rate (CAGR) of 10.3%. The expansion during the historical period can be tied to various factors including ocean exploration and research, defense and naval use, inspections in the oil and gas industry, environmental surveillance, search and rescue missions, aquaculture tracking, film and media production, commercial fishing ventures, and mapping and surveying.

In the coming years, the market size of underwater drones is anticipated to experience substantial expansion, growing to $7.98 billion in 2029 with a compound annual growth rate (CAGR) of 10.5%. The predicted growth during this period is credited to factors such as the widening of underwater mining activities, strategies for monitoring and mitigating the effects of climate change, the advancement of autonomous underwater vehicles (AUVs), initiatives for emergency response and disaster recovery, as well as drones as a service (DaaS) models. Foreseen trends within this timeframe encompass diverse sensor integration, swarms of underwater drones, hybrid systems combining underwater and air capabilities, revolutionary underwater communication technologies, commercial fishery monitoring, the incorporation of artificial intelligence (AI), and the reduction of underwater drone technology in size.

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How are the latest trends influencing the growth of the underwater drone market?
Advancements in technology play a crucial role in shaping the trends that are currently dominating the underwater drone market. Major players in this market leverage cutting-edge technologies like artificial intelligence to stay competitive. Artificial Intelligence (AI) mimics human thinking and actions in devices, enabling drones to carry out autonomous operations. An example from June 2022 involves QYSEA Technology, a company from China that focuses on underwater robots and drones, introducing an AI-powered vision platform that equips its FIFISH underwater robots with accurate underwater active visual locking capabilities. AI Vision Lock technology can quickly and accurately lock on to any selected targets underwater. Upon pressing the region of interest on the APP screen, the ROV automatically adjusts its position and locks the target at the centre of the screen. When the AI Vision Lock is activated, it improves both operational efficiency and current resistance for the FIFISH users.

What are the major segments of the underwater drone market and their role in driving growth?
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

Subsegments:
1) By Remotely Operated Vehicles (ROVs): Work-Class ROVs, Observation ROVs, Light ROVs
2) By Autonomous Underwater Vehicles (AUVs): Survey AUVs, Research AUVs, Military AUVs
3) By Hybrid Vehicles: Hybrid ROV Or AUV Systems, Modular Hybrid Underwater Drones

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Which regions are key players in the growth of the underwater drone market?
Asia-Pacific was the largest region in the underwater drone market in 2024. The regions covered in the underwater drone 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 drone market?
Major companies operating in the underwater drone market 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., Thales Group, General Dynamics Corporation, Terradepth Inc., ecoSUB Robotics Ltd., Eelume AS, Nido Robotics, Neptune Robotics 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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What Is Covered In The Underwater Drone Global Market Report?

• Market Size Forecast: Examine the underwater drone market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the underwater drone market for a structured understanding.
• Key Players Overview: Analyze major players in the underwater drone market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the underwater drone market.
• Segment Contributions: Evaluate how different segments drive overall growth in the underwater drone market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the underwater drone market.
• Industry Challenges: Identify potential risks and obstacles affecting the underwater drone market.
• Competitive Landscape: Review strategic developments in the underwater drone market, including expansions, agreements, and new product launches.

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