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Global Underwater Drones Market to Reach USD 7.18 Billion by 2026, Driven by the Rising Underwater Exploration and Research

According to a new report by EMR titled, 'Global Underwater Drones Market Report and Forecast 2021-2026', the global market for underwater drones reached a value of USD 3.45 billion in 2020. The market is further expected to grow at a CAGR of 13% in the forecast period of 2021-2026 to reach a value of around USD 7.18 billion by 2026.

The market for underwater drones is driven by the rising use of the product for observation, data collection, and intelligence. The product comes in two types, such as remotely operated vehicles and autonomous underwater vehicles. The growing demand for both, the autonomous variant for underwater surveys and remote variant for robotic control, are aiding the market growth of the product. The latter one is used for vessel hull inspections, object identification, and site exploration. The rising underwater activities and requirement to observe and detect such activities have catalysed the market growth for underwater drones. The market is expected to expand over the forecast period.

The market is led by the industry key players like Oceaneering International, Inc. (NYSE: OII), and Robosea. In May 2017, Robosea, an underwater drone company, introduced its new product robot fish with 4K camera in the market, which is an underwater drone named as BIKI. It primarily allows users to see beyond the normal vision in the sea, which makes for an interesting view, along with BIKI’s built-in 4K lens, which has a stabilizer and 32 GB internal memory to record anything and everything its robotic eyes sees. Such innovations are expected to aid the market growth for underwater drones in the forecast period.

Market Analysis by Type, Technology, Product Type, Application, and Region:

  • The underwater drones industry, on the basis of type, is divided into autonomous and remotely operated.
  • On the basis of technology, the industry is segmented into electric, mechanical, and hybrid.
  • By product type, the industry is categorised into small vehicles, high-capacity electric vehicles, work class vehicles, and heavy work class vehicles.
  • On the basis of application, the industry is divided into oil and gas, commercial diving, defence, scientific research, search and rescue, and underwater discovery, among others.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global underwater drones industry is driven by the rising demand for the product during swimming and underwater diving, among other water-related activities.
  • The market is also aided by the rising demand for the product as a Navy security equipment. Thereby increasing the demand for the product for defence purposes during the forecast period.
  • In addition, the special design of the product for the research purposes in the oil and gas industry is consequently enhancing the implementation rates of underwater drones, as a result, invigorating the market growth.
  • Moreover, the product is highly demanded by the organisations in ocean exploration for mapping ocean floor and other purposes, thus, aiding the market growth further.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for underwater drones for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the types, technologies, product types, applications, and regional markets of underwater drones. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

Deep Trekker Inc., ECA Group, PowerVision Inc., Atlas Elektronik GmbH, Kongsberg Gruppen ASA, and Oceaneering International, Inc., among others, are the key players in the global underwater drones market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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