Global Underwater Robotics Market- Market Overview:

The global underwater robotics market is expected to grow from USD 2.5 billion in 2022 to USD 6.4 billion by 2030, at a CAGR of 12.5% during the Projection period 2023-2030. The rising use of ROVs mainly drives the growth of the underwater robotics market.

Technological advancement has resulted in the fast usage of robotics in various human life applications. Robotics has various uses not only in everyday life, but also in businesses such as automobiles, steel plants, defense equipment manufacturing, and so on. Bots are utilized within water for ground surveys, mineral discoveries, and, most critically, underwater surveillance. These machines are intended to serve several functions. These gadgets are designed to function even in adverse conditions such as storms, spinning, and so on. They are utilized in regions where divers' safety is at risk, such as deep inside oceans and seas. Underwater robots are employed for a variety of reasons, including underwater archaeology, maritime security, marine biology, and so on. Because of increased global demand for oil and gas, countries were compelled to import more oil from OPEC members. Its import has steadily increased throughout the years. India and China are the world's two largest oil importers. Nonetheless, this import is costing governments a lot of money. Countries are attempting to lower this expense by meeting demand from alternative sources. As a result, countries are scrambling to find alternative reservoirs. For example, India is working tirelessly to locate its reserve facility within the country. According to a story in the Economic Times, ONGC has accumulated locations capable of supplying 280 million tonnes.

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Market Dynamics:

Drivers:                          

• Rising Usage of Underwater Robotics

Underwater vehicles are increasingly being used by the military, naval, and police forces for tasks like intelligence collection, mine countermeasures, surveillance and reconnaissance (ISR), inspection and identification, oceanography, and payload delivery. The growing use of ROVs and AUVs is predicted to fuel the global underwater robotics market. The expanding functionalities of ROVs over the years, owing mostly to technical improvement and the necessity to search for and explore more offshore oil and gas reserves, are likely to propel the worldwide underwater robotics market forward.

Restraints:                                             

• Expensive

Underwater vehicles are increasingly being used and required in a variety of industries. Despite this, many firms are unable to obtain the underwater vehicle for needed operations and activities due to the expensive cost. The high purchase and maintenance costs of underwater vehicles may act as a limitation on the global underwater robotics market.

Opportunities:

• Continuous Development

Many vehicles are effectively working in the offshore sectors and applied and academic oceanographic sciences, but the availability of these AUVs at a reasonable cost for the service they provide is a critical aspect. The continuous development of underwater vehicles to meet the needs of activities such as search and rescue and underwater repair in remote places and dangerous environments is increasing demand for ROVs, which is projected to drive the worldwide underwater robotics market.

Challenges:

• Privacy Concern

The communication system used to control these AUVs and collect data at the operation centre is vulnerable to hacking. It is a security risk and a source of concern for AUV operators, and it concerns industries such as the military, marine biology, oil and gas, and offshore energy. These dangers and worries about cyber security and operational security for underwater vehicles limit the global underwater robotics market's growth.

Segmentation Analysis:

The global underwater robotics market has been segmented based on type, application, and region.

By Type

The type segment is remotely operated vehicles and autonomous vehicles. The remotely operated vehicles segment led the largest share of the underwater robotics market with a market share of around 61.23% in 2022. Because of the increased need for such vehicles in the deep-sea oil drilling business. It is used to perform jobs that were previously performed by humans and were prone to human error, such as surveying, inspection, and sampling. Furthermore, remotely operated vehicles are used for seafloor experiments, which may necessitate challenging operations such as drilling and precise instrument location. As a result, sales of underwater robots are projected to rise.

By Application

The application segment is defense, commercial exploration, and scientific purposes. The commercial exploration segment led the largest share of the underwater robotics market with a market share of around 49.78 in 2022. The rise can be ascribed to increased use in offshore oil and gas exploration as well as subsurface mineral prospecting. Underwater robots are one of the major technologies miners employ to discover deep-sea mineral richness. Mining corporations are utilizing robotics technology to retrieve rich mineral resources beneath the seafloor. For example, the Canadian business Nautilus Minerals intends to use underwater robots to recover minerals such as gold, silver, and copper at a depth of 1,600 meters near the waters of Papua New Guinea.

Global Underwater Robotics Market- Sales Analysis.

The sale of the underwater robotics market expanded at a CAGR of 11% from 2016 to 2022.

Over the Projection period, the potential usage in underwater surveillance and offshore oil and gas development is likely to drive market expansion. Remotely Operated Vehicles (ROVs), for example, are widely utilized for offshore oil and gas exploration drilling, development, repair, and maintenance operations, overcoming the limits of human subsea divers. Furthermore, the increasing use of robotics in military and security applications is likely to boost market expansion in the coming years. In recent years, robotics has been used in manufacturing. Over the years, tremendous advancement has made them more complex and trustworthy for military and law enforcement uses.

Historically, a submarine was an important system for underwater surveillance. Underwater robotics improvements, on the other hand, have supplied more devices for underwater surveillance. Governments throughout the world are investing in this technology for advanced military applications like intelligence, surveillance, investigation, mine countermeasure, oceanography, communication/navigation, anti-submarine warfare, and so on. For example, in July 2017, the US Defense Advanced Research Projects Agency (DARPA) announced a USD 4.6 million contract with BAE Systems to build an Unmanned Underwater Vehicle (UUV) to assist manned submarines by emitting sonar pulses.

Thus, owing to the aforementioned factors, the global underwater robotics market is expected to grow at a CAGR of 12.5% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the underwater robotics market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the underwater robotics market and held a 37.9% share of the market revenue in 2022.

• The North America region witnessed a major share. Because of the huge concentration of top manufacturers. Furthermore, the region has witnessed significant expenditures in search and rescue, enjoyment and exploration, military, aquaculture, marine biology, shipping, oil, gas, offshore energy, submerged infrastructure, and other fields.
• Asia-Pacific is anticipated to experience significant growth during the Projection period. Because of the increased usage of underwater robotics in defence and oil and gas exploration activities in countries such as China, India, South Korea, and Japan.

Global Underwater Robotics Market - Country Analysis:

• Germany

Germany's underwater robotics market size was valued at USD 0.17 billion in 2022 and is expected to reach USD 0.43 billion by 2030, at a CAGR of 12.6% from 2023 to 2030. Because of expanding offshore oil and gas exploration activity in Germany, the region is expected to contribute significantly to the worldwide share.

• China

China’s underwater robotics market size was valued at USD 0.19 billion in 2022 and is expected to reach USD 0.49 billion by 2030, at a CAGR of 12.8% from 2023 to 2030. China import the most oil internationally. Unfortunately, nations are paying a high price for this import. Nations strive to reduce this expense by meeting demand from alternative sources. As a result, countries are aggressively seeking alternative reservoirs.

• India

India's underwater robotics market size was valued at USD 0.15 billion in 2022 and is expected to reach USD 0.39 billion by 2030, at a CAGR of 12.7% from 2023 to 2030. Because of the increase in global demand for oil and gas, countries were forced to import more oil from OPEC countries. As a result, this import has increased over time. India, for example, is looking for a reserve facility within the country. According to an Economic Times report, ONGC has so far amassed locations capable of producing 280 million tonnes.

Key Industry Players Analysis:

To increase their market position in the global underwater robotics market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.   

• Oceaneering International
• Saab AB
• Bluefin Robotics Corp
• Schilling Robotics LLC
• International Submarine Engineering
• Inuktun Services Ltd.

Latest Development:

• In January 2020, Ocean Infinity, a prominent provider of data and subsea technology, announced an extension of its Joint Research and Development Agreement . (CRADA).

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	12.5%
Market Size	2.5 billion in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Type, By Application, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Oceaneering International, Saab AB, Bluefin Robotics Corp, Schilling Robotics LLC, International Submarine Engineering, and Inuktun Services Ltd.
By Type	Remotely Operated Vehicles Autonomous Vehicles
By Application	Defense Commercial Exploration Scientific Purposes
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Underwater Robotics Market By Type:

• Remotely Operated Vehicles
• Autonomous Vehicles

Global Underwater Robotics Market By Application:

• Defense
• Commercial Exploration
• Scientific Purposes

Global Underwater Robotics Market By Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- The country's recent political stability influenced the underwater robots business. Furthermore, because of the politicians' honesty and inclination to commit corruption charges, high-ranking government officials may be compelled to retire or be impeached. the regulations that the government imposes, particularly those concerning business, like as contract law, because they define what is and isn't acceptable. Some countries, for example, outlaw alcohol or have strict restrictions that must be followed, whilst others have bloated bureaucracies that stifle business.

Economic Factors- Whether the market is now organised as a monopoly, an oligopoly, or anything more resembling a totally competitive system. Depending on the rate of growth of the country's economy, will likely expand at different rates in the near future. The country's interest rates impact how much people are willing to invest and borrow. Higher interest rates would encourage greater investment, hence increasing GDP. The country's exchange rate would have an impact on profitability, especially if it engaged in international trade.

Social Factors- The population's age and gender distribution have a significant impact on whether or not a product may be marketed to them. Because makeup is largely sold to women, reaching out to guys would result in fewer people being reached than reaching out to women. If the majority of people were from a lower socioeconomic class, it would be easy to promote a premium product to the general public; instead, they would have to focus on extremely specialised niche markets. As a result, the distribution of classes throughout the population is crucial. Due to educational background differences between marketers and the target market, it may be difficult to properly relate to and attract the target market.

Technological Factors- The research and development trend in the selected industry/region illustrates firms' proactivity in offering innovative solutions to fulfil consumer needs. Underwater robotics, on the other hand, must increase its understanding of how upcoming technological innovations might benefit the organisation in addition to providing value to customers. Significant investment in research and development activities would be required in markets defined by disruptive technologies. Underwater robotics, on the other hand, must have a long-term perspective and should not expect a quick return on its research and development operations.

Environmental Factors-At this time, the weather may have a significant impact on the ability to move materials and finished goods. If there is an unexpected monsoon, it will delay the delivery of the finished product. As a result of climate change, some goods would lose all of their worth. Warm winter clothing has a much smaller market in countries where winter has become quite mild as a result of global warming. Companies that produce a lot of rubbish may face legal restrictions on their environmental activities.

Legal Factors- As previously stated, the goal of intellectual property laws and other data protection measures is to safeguard the ideas and patents of enterprises that rely only on information. If data theft is possible, the system will lose its competitive advantage and will very likely collapse. Anti-discrimination rules in the government are intended to protect employees and ensure that everyone is treated fairly and given equal opportunity, regardless of gender, age, handicap, race, religion, or sexual orientation. Health and safety regulations was enacted in response to the horrendous working conditions faced by workers during and shortly after the industrial revolution.

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis by Type
     • 3.2. Market Attractiveness Analysis by Application
     • 3.3. Market Attractiveness Analysis by Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Rising Usage of Underwater Robotics
   • 3. Restraints
     • 3.1. Expensive
   • 4. Opportunities
     • 4.1. Continuous Development
   • 5. Challenges
     • 5.1. Privacy Concern

6. Global Underwater Robotics Market Analysis and Projection, By Type
   • 1. Segment Overview
   • 2. Remotely Operated Vehicles
   • 3. Autonomous Vehicles
7. Global Underwater Robotics Market Analysis and Projection, By Application
   • 1. Segment Overview
   • 2. Defense
   • 3. Commercial Exploration
   • 4. Scientific Purposes
8. Global Underwater Robotics Market Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

9. Global Underwater Robotics Market-Competitive Landscape
   • 1. Overview
   • 2. Market Share of Key Players in the Underwater Robotics Market
     • 2.1. Global Company Market Share
     • 2.2. North America Company Market Share
     • 2.3. Europe Company Market Share
     • 2.4. APAC Company Market Share
   • 3. Competitive Situations and Trends
     • 3.1. Technology Launches and Developments
     • 3.2. Partnerships, Collaborations, and Agreements
     • 3.3. Mergers & Acquisitions
     • 3.4. Expansions

10. Company Profiles
    • Oceaneering International
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Technology Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • Saab AB
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Technology Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • Bluefin Robotics Corp
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Technology Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • Schilling Robotics LLC
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Technology Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • International Submarine Engineering
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Technology Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Inuktun Services Ltd.
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Technology Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis

List of Table

1. Global Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
2. Global Remotely Operated Vehicles, Underwater Robotics Market, By Region, 2023–2030 (USD Billion)
3. Global Autonomous Vehicles, Underwater Robotics Market, By Region, 2023–2030 (USD Billion)
4. Global Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
5. Global Defense, Underwater Robotics Market, By Region, 2023–2030 (USD Billion)
6. Global Commercial Exploration, Underwater Robotics Market, By Region, 2023–2030 (USD Billion)
7. Global Scientific Purposes, Underwater Robotics Market, By Region, 2023–2030 (USD Billion)
8. Global Underwater Robotics Market, By Region, 2023–2030 (USD Billion)
9. North America Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
10. North America Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
11. USA Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
12. USA Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
13. Canada Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
14. Canada Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
15. Mexico Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
16. Mexico Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
17. Europe Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
18. Europe Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
19. Germany Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
20. Germany Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
21. France Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
22. France Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
23. UK Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
24. UK Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
25. Italy Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
26. Italy Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
27. Spain Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
28. Spain Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
29. Asia Pacific Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
30. Asia Pacific Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
31. Japan Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
32. Japan Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
33. China Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
34. China Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
35. India Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
36. India Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
37. South America Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
38. South America Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
39. Brazil Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
40. Brazil Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
41. Middle East and Africa Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
42. Middle East and Africa Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
43. UAE Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
44. UAE Underwater Robotics Market, By Application, 2023–2030 (USD Billion)
45. South Africa Underwater Robotics Market, By Type, 2023–2030 (USD Billion)
46. South Africa Underwater Robotics Market, By Application, 2023–2030 (USD Billion)

List of Figures 

1. Global Underwater Robotics Market Segmentation
2. Underwater Robotics Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Underwater Robotics Market Attractiveness Analysis by Type
9. Global Underwater Robotics Market Attractiveness Analysis by Application
10. Global Underwater Robotics Market Attractiveness Analysis by Region
11. Global Underwater Robotics Market: Dynamics
12. Global Underwater Robotics Market Share by Type (2023 & 2030)
13. Global Underwater Robotics Market Share by Application (2023 & 2030)
14. Global Underwater Robotics Market Share by Regions (2023 & 2030)
15. Global Underwater Robotics Market Share by Company (2021)