Underwater Drone Industry Growth Outlook: 10.1% CAGR and $7.83 Billion by 2029

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What Is the Long-Term Growth Forecast for the Underwater Drone Market Size 2025?
The expansion of the underwater drone market has been robust over the past few years. It is projected to increase from $4.86 billion in 2024 to $5.33 billion in 2025, achieving a compound annual growth rate (CAGR) of 9.7%. The historical growth can be attributed to a variety of factors including oceanic research and exploration, defense and naval usage, inspections in the oil and gas industry, environmental oversight, search and rescue missions, aquaculture surveillance, film and media production, commercial fishing activities, and mapping and surveying tasks.

What CAGR is Forecasted for the Underwater Drone Market Through 2029?
In the coming years, the size of the underwater drone market is anticipated to surge substantially. The market is set to attain a valuation of $7.83 billion by 2029, growing at a compound annual growth rate (CAGR) of 10.1%. This forecasted growth can be credited to the extension of underwater mining operations, the surveillance and control of climate change effects, emergence of autonomous underwater vehicles (AUVs), response to emergencies and recovery from disasters, and drones as a service (DaaS) paradigms. The forecast period will also witness several major trends such as the integration of various sensors, the development of underwater drone swarms, combination of underwater-air systems, enhancements in underwater communication technologies, the monitoring of commercial fisheries, artificial intelligence (AI) incorporation, and downsizing of underwater drone technology.

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What Are the Critical Factors Driving Underwater Drone Market Development?
The worldwide drive to modernize military forces, marked by an increase in defense spending, is anticipated to boost the underwater drone market. When we talk about military forces, we're encompassing naval, military, and air forces, as well as every individual serving in the armed forces. To maintain their positions of power and to compete with adversaries, nations around the world are adopting more sophisticated and modern weaponry like underwater drones. For example, The Peter G. Peterson Foundation, a non-profit organization based in the U.S., reported in April 2023 that U.S. defense spending increased by $71 billion from 2021 to 2022. Hence, the upward trend in global defense costs is a key driver of growth in the underwater drone market.

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How Does the Underwater Drone Market Break Down Across 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

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

What Are the Major Trends Transforming the Underwater Drone Industry?
The underwater drone market is seeing a rise in popularity of the key trends associated with technological advancements. Major firms in the market are incorporating advanced technologies like artificial intelligence to maintain their viability in the underwater drone space. Representing a simulation of human intellect in machines, AI is designed to mimic human thoughts and actions, and can enable drones to conduct independent operations. For instance, QYSEA Technology, an underwater robot and drone specialist based in China, rolled out a vision platform in June 2022 equipped with AI. This platform enhances the precision of their FIFISH underwater robots' active visual locking capabilities in underwater conditions. The advanced AI Vision Lock technology facilitates visual locking onto selected targets with precision and ease in any underwater surroundings. After the user taps on the region of interest on the APP screen, the ROV autonomously adjusts and centers the target on the screen. With the activation of AI Vision Lock, both current resistance and operational efficiency of FIFISH users see a significant improvement.

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Which Players Are Driving Innovation 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.

Which Regions Are Driving Global Underwater Drone Market Expansion?
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.

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