Market Overview:

The market for Underwater Robotics was valued at approximately USD 5.07 Billion in 2023. Over the course of the forecast period (2024–2031), the market is expected to develop at a compound annual growth rate (CAGR) of 14.5%, reaching a value of USD 14.15 Billion by 2031.

The potential uses for underwater surveillance & offshore oil and gas development are expected to propel market growth throughout the estimated timeframe. By drilling, developing, repairing, and sustaining activities for offshore oil and gas exploration, remotely operated vehicles (ROVs), for instance, are frequently used to overcome the limitations of human underwater drivers.

Furthermore, over the coming years, it is anticipated that the market would rise due to the increasing use of robotics in military and security applications. In the last few years, robotics has been applied in the manufacturing sector. They have advanced significantly throughout time, becoming more dependable and sophisticated for use in military and police enforcement purposes.

Underwater surveillance has historically relied heavily on submarines alone. On the other hand, new technology for underwater surveillance has been made possible by developments in underwater robotics. For advanced military uses such intelligence, surveillance, investigation, mine preventative measures, marine biology, communication/navigation, anti-submarine warfare, among others, governments from several nations are investing in this technology. An example of this is the USD 4.6 million contract that the U.S. Defense Advanced Research Projects Agency (DARPA) signed with BAE Systems in July 2017 to build an Unmanned Underwater Vehicle (UUV) to support manned submarines by helping them discover targets by delivering sonar pulses.

Underwater robotics deployment presents several challenges, including those related to navigation and communication. Solving these problems is not always easy. Sound, free-space optical (FSO), or electromagnetic (EM) waves are the transmission media used in underwater communication. Variations in temperature and surface ambient noise can have a significant impact on the usage of sound waves for communication below the water's surface.

Due to their conducting nature, electromagnetic waves are not very effective in an underwater atmosphere, especially in seawater. Wireless communication underwater uses the FSO waves as a carrier. It is limited to extremely short distances, though. Furthermore, underwater communication necessitates significant power due to additional sophisticated signal processing. Therefore, it is anticipated that over the projection period, the use of underwater robots will be constrained by challenges with communication and navigation in deep water.

Market Dynamics:

Market Drivers:

Growth of the Offshore Sector

• The growth of offshore businesses including deep-sea mining, exploration for oil and gas, and maritime renewable energy is largely driving the underwater robotics industry. For jobs involving underwater exploration, inspection, maintenance, & intervention in difficult underwater conditions, these sectors need cutting-edge technologies. Underwater robotic systems provide an affordable and secure way to carry out various tasks in distant and deep offshore settings, such as pipeline inspection, environmental monitoring, and upkeep of submerged infrastructure. Underwater robotic systems are predicted to become much more in demand as offshore operations continue to expand due to the growing need for energy worldwide and the discovery of new marine resources.

Research and Exploration Activities

• Underwater robotics is becoming more and more popular as a tool for scientific study, ocean exploration, & environmental monitoring in academic institutions, government departments, and commercial businesses. Researchers may gather data, map underwater geography, examine marine life, and look into underwater phenomena in manners that are not achievable with conventional approaches thanks to underwater robotic systems. The technical developments are critical to deepening our understanding of the oceans, addressing environmental problems including ocean pollution and climate change, and also maximizing the potential of marine resources. The need for sophisticated underwater robotic systems with improved capabilities for study and investigation is being driven by the global emphasis on ocean exploration & conservation efforts.

Market Trends:

Growing need in ocean science and exploration

• The growing need for ocean research and exploration is driving considerable growth in the underwater robot’s market. Underwater robots are becoming more and more important tools for organizations, researchers, and scientists to explore the mysteries of the deep sea. Researchers may now collect important data on marine life, undersea ecosystems, or geological formations thanks to these robots. They are also essential to the research of climate change since they can gather data in harsh and isolated locations. Furthermore, more money is being invested in underwater robotics due to the necessity to monitor and protect underwater ecosystems, especially in delicate settings like coral reefs. The market is expanding because of these robots' capacity to gather data without the need for human interaction in difficult-to-reach regions. The need for sophisticated underwater robotics is rising as knowledge of our planet and its resources depends more and more on ocean exploration. Continuous technological developments are supporting this trend by increasing the capability and accessibility of underwater robots for a variety of uses.

Rising demand in the offshore gas and oil sector

• The growing use of underwater robotics in the global offshore oil and gas sector is propelling the market. The need for effective and economical maintenance of underwater infrastructure, including as drilling platforms, pipelines, and subsea systems, is rising in tandem with the expansion of offshore energy exploration and production activities. In these difficult conditions, underwater robots—including remotely operated vehicles, or ROVs—are being used more and more for inspection, maintenance, and repair duties. They can perform accurate procedures and navigate deep-sea conditions, lowering operating hazards and downtime. Underwater robots is being used to drastically lower operating expenses for oil and gas firms while simultaneously improving worker safety. Furthermore, the need for enhanced underwater robotics with better capabilities—like increased working depths and autonomous decision-making—is growing as offshore development pushes into farther-reaching and more secluded regions. In order to address the unique requirements of offshore energy, this trend is also propelling continued research and investment in underwater robotics applications.

Market Restraining Factors:​

High Development and Maintenance Costs

• The high creation and upkeep expenses involved in planning, constructing, and running underwater robotic systems are driving the underwater robotics market. Robotics technology development that can survive the extremes of underwater environments—high pressure, caustic saltwater, and low visibility—needs significant study, funding for specialist materials, and engineering know-how. Furthermore, because underwater robotic systems frequently require remote or underwater operations, specialized equipment, and experienced staff, maintaining and repairing them can be expensive. These expensive prices may prevent smaller businesses or academic institutions from entering the market and may restrict the use of underwater robotics products in specific fields.

Key Industry Developments:

• In May 2023, At ICRA 2023 in London, Advanced Navigation, a pioneer in AI robotics and navigation technologies, debuted the mini autonomous underwater vehicle's underwater docking capability. With the help of this preview, Advanced Navigation was able to introduce two ground-breaking technologies to the UK market.
• In April 2023, First of three second-generation Aquanauts, dubbed "Mark 2" (MK2), was unveiled by Nauticus Robotics, a business that specializes in autonomous robots with artificial intelligence for the ocean industries' data collecting and intervention services. Soon, commissioning exercises for the Aquanauts will start. Nauticus intends to send the Aquanaut MK2 units to the North Sea and the Gulf of Mexico in the coming months after the commissioning phase is finished.

Report Coverage:

The report will cover the qualitative and quantitative data on the global Underwater Robotics Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations:

Market Players Analysis:

• ATLAS MARIDAN Aps
• Deep Ocean Engineering, Inc.
• General Dynamics Mission Systems, Inc.
• ECA GROUP
• International Submarine Engineering Limited
• Eddyfi Technologies
• Oceaneering International, Inc.
• Saab AB
• TechnipFMC plc
• Soil Machine Dynamics Ltd. 

Underwater Robotics Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2024-2031 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Market Segmentation Analysis:

The market is divided into segments based on By Type, By Application.

By Type

• Remotely Operated Vehicle (ROV)
• Autonomous Underwater Vehicles (AUV)

In 2022, the Remotely Operated Vehicles (ROV) sector had the biggest revenue share, accounting for 79.8% of total revenue. The ROV segment is said to have expanded due to the growing offshore deep-sea oil and drilling industry because of its ability to do operations underwater such equipment installation, drilling, & underwater repair and maintenance.

The Autonomous Underwater Vehicle (AUV) category is expected to grow at the fastest pace of 17.9% during the course of the projected period. It is driven by the expanding acceptance and need for defense uses, such as monitoring, mine countermeasures, and anti-warfare. Moreover, potential uses in pipe inspection, polar ice research, water sample testing, & ocean floor mapping are expected to spur growth even more during the projected period.

By Application

• Defense & Security
• Commercial Exploration
• Scientific Research
• Others 

The commercial exploration category is expected to expand at the fastest compound annual growth rate (CAGR) during the forecast period, with a revenue share of 39.6% in 2022. Growing interest in both offshore and underwater mineral prospecting is attributed to the growth in use. Underwater robotics is one of the main technologies that miners employ to explore the richest minerals of the deep sea. Mining companies are using robotics technology to reach abundant mineral riches located beneath the ocean floor. For instance, a Canadian company called Nautilus Minerals plans to mine for minerals, such as gold, silver, and copper, near the waters of Papua New Guinea, using underwater robots at a depth of 1,600 meters.

The scientific research category is expected to grow at a significant CAGR of 14.4% throughout the predicted period. It is related to the increasing need for affordable, safe, and state-of-the-art technological solutions that can help understand the planet and solve global problems.

Regional Snapshots:

By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. North America held the biggest market share because of its substantial investments in defense and security, thriving marine sector, wide-ranging offshore oil and gas activities, and strong concentration of undersea robotics manufacturers and technology providers. Underwater robot uses include military operations, offshore exploration, and research. The United States and Canada are leading the way in this regard. Furthermore, the government of North America provides significant support for marine research and the advancement of sophisticated underwater robotic equipment.

In 2022, Europe held the greatest revenue share of 32.1%, dominating the market. Because of the increasing amount of offshore oil and gas exploration taking place in European countries, it is expected that the region will contribute significantly to the worldwide share. For example, the building of a third well in the Russian sector of the Caspian Sea's Filanovsky field was finished in May 2018 by the Russian oil company Lukoil.

Asia Pacific is expected to grow at the fastest CAGR of 16.0% throughout the projection period. The increasing use of underwater robotics in military and oil and gas exploration operations in nations like China, India, South Korea, and Japan may be the reason behind the rise of the underwater robotics market in the area.

Underwater Robotics Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report:

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Reasons to Purchase:

• To gain insightful analyses of the Underwater Robotics market and have comprehensive understanding of the global market and its commercial landscape.
• Assess the production processes, major issues, and solutions to mitigate the development risk.
• To understand the most affecting driving and restraining forces in the market and its impact in the global market.
• Learn about the Underwater Robotics market strategies that are being adopted by leading respective organizations.
• To understand the future outlook and prospects for the Underwater Robotics market. Besides the standard structure reports, we also provide custom research according to specific requirements.

Research Scope of Underwater Robotics Market:

• Historic year: 2019-2022
• Base year: 2023
• Forecast: 2024 to 2031
• Representation of Market revenue in USD Million