The report on the Underwater Drone Market has been launched by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2022-2028. The report also offers insights into different market segments and other factors affecting the market.
Report Forecast:
The global underwater drone market size was estimated at US$ 4.9 Bn in 2021 and is growing at a CAGR of 10.2% during 2022-28 to reach US$ ~7.9 Bn in 2028.
The main element influencing the uptake of underwater drones is the rising demand for these drones among customers engaged in water-related activities like swimming and diving.
Due to the addition of these underwater drones to Navy security gear, the use of underwater drones for defence has expanded.
Energy-efficient drones are already available on the market as a consequence of ongoing research and development to improve the operability of underwater drones.
These underwater vehicles mostly rely on renewable energy sources or clever movement strategies, and they seldom utilize their on-board batteries. Products that employ renewable energy sources like wind, solar, and others have been introduced to the market.
The market's growth is influenced by a number of factors that have a significant or indirect impact on demand. An overview of such factors can be found in our report, which is derived utilizing SWOT analysis, industry life cycle, and supply chain analysis. Such key information can help market participants and investors identify the low-hanging fruits in the market and establish strategic initiatives to accelerate their growth.
COVID-19 IMPACT on the Market-
The COVID-19 pandemic has influenced almost all the industries, little or large, dealing in any sector.
The COVID-19 pandemic has compelled governments all around the world to prioritize healthcare. As a result, the nations are cutting back on their military spending to help pay for the pandemic response and recovery efforts. To put more money toward the pandemic response, countries like South Korea and Thailand have cut back on their military spending.
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The Cornerstones in the market-
Listed below are the top key players that dominate the Underwater Drone market –
- 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.
Underwater Drone Market Segmentation:
The report segments based upon demographics, geographics, benefits and volume etc, has different leading factors and identifies the most-attractive segments and sub-segments. The market segmentation will not only help marketers to be more efficient in terms of time, money and other resources but also allows companies to learn about their target audience so that they can tailor campaigns that leads a roadmap to success.
The Underwater Drone Market is segmented into the following categories.
By Type
The market is divided into three categories based on type: Remotely operated underwater vehicles (ROV), autonomous underwater vehicles (AUV), and hybrid vehicles. The Remotely operated vehicle segment holds the highest market share in 2021. The ROVs are mostly used for critical missions and work the best in challenging environments. During the forecast period, the autonomous underwater vehicle segment will experience significant growth.
By Propulsion System Type
The market is divided into three categories according to propulsion system: electric, mechanical, and hybrid. The electric systems segment will show significant growth in the market during 2022-2028.
By Application Type
The market is divided into four categories based on application: commercial exploration, scientific research, military security, and others. The military security segment holds the highest market share in 2021 and is expected to lead the market during the forecast period. The defence forces' increased use of underwater drones to fight maritime security threats, such as submarine warfare, seabed mines, anti-ship antisubmarine missiles, and others, is the cause of this expansion.
By Product Type
The underwater drone market is divided into four product categories: micro, small and medium, light work-class, and heavy work-class. Due to growing use in applications for observations of water column properties, monitoring, and benthic zones, the small vehicle segment will have considerable growth throughout the projection period. For deep-water surveys, high-capacity electric vehicles are used. A wide variety of sensors, communication systems, and navigation and positioning systems are included in the heavy work class vehicles.
Regional Analysis
The market is examined in terms of its impact on North America, Europe, Asia-Pacific, and LAMEA. North America has the largest market share in the world, and the United States is the world's largest producer, operator, and exporter of such vehicles. The increasing use of remotely operated vehicles (ROVs) in commercial and defence sectors is expected to drive growth in the North American ROVs market.
Asia Pacific underwater drone market is expected to grow significantly. The increase can be attributed to increased defence investments from countries such as India, China, Japan, South Korea, and others.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
- Company Profiling
- Detailed profiling of key market players (up to 3 players)
- SWOT analysis of key market players (up to 3 players)
To identify the key trends, or to get a customised report related to the study, connect with our sales team at:
Stratview Research |email: sales@stratviewresearch.com | Direct: +1-313-307-4176
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