Underwater Robotics Market Overview
The global underwater
robotics market is expected to reach USD 4,914.29 million by 2025 at a CAGR
of 12.5% during the forecast period. Market Research Future (MRFR), in its
report, envelops segmentation and drivers to provide a better glimpse of the
market in the coming years. Underwater robotics or underwater vehicles are
specialized to either be operated by a remote or programmed to operate automatically
without the need for a pilot or an operator. These systems are used for a
variety of applications within water bodies such as R&D, commercial
projects, oil & gas industry, marine life science, and others.
Additionally, one of the major uses of underwater robotics is the need for
continuous surveillance in submerged ocean areas. There are two types of
underwater robots, namely remotely operated vehicles (ROV) and autonomous
underwater vehicles (AUV).
The increasing
demand for underwater robotics products is the key factor that aids market
growth. The underwater robotics manufacturers must provide products as per
industry and customer needs while offering advanced technologies to maintain
their market positions and gain a competitive advantage. Vendors in the global
underwater robotics market are focused on improving their technologies and
upgrading products as well as expanding into the underdeveloped and developing
economies.
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Competitive
Analysis
The key players
of the global underwater robotics market are Atlas Maridan ApS. (Germany), Deep
Ocean Engineering, Inc. (US), General Dynamics Mission Systems, Inc. (US),
International Submarine Engineering Ltd. (Canada), ECA SA (France), Eddyfi
(Canada), Oceaneering International, Inc. (US), Saab AB (Sweden), TechnipFMC
plc (UK), and Soil Machine Dynamics Ltd. (UK), among others.
In December 2019,
ECA SA signed an agreement with the Oceanographic Institute to provide the H300
MK2 ROV system to the institute for carrying out underwater research projects
on living marine resources, biotechnologies, and aquaculture.
In September
2019, General Dynamics Mission Systems, Inc. introduced a new autonomous
unmanned underwater vehicle, the Bluefin-12. This system uses shared Bluefin
Robotics’ core capabilities, increased mission modularity, and embedded
intelligence to complete the users’ long-endurance, high-consequence, and
changing missions.
In May 2018, Eddyfi
acquired M2M, a renowned developer and manufacturer of phased array ultrasonic
testing (PAUT) instruments for NDT. This acquisition offers Eddyfi Technologies
a unique chance to enter the PAUT market with the most advanced technologies.
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Segmental Analysis
The global underwater
robotics market has been segmented based on type, application, and region.
Based on type, the market has been bifurcated
into remotely operated vehicles (ROV) and autonomous underwater vehicles (AUV). The AUV segment is projected to exhibit
significant growth over the forecast period due to its increasing demand and
adoption in defense applications, including surveillance, anti-warfare
applications, mine counter measurement, and others. Companies such as Atlas
Maridan ApS, International Submarine Engineering, and Bluefin Robotics are the
major manufacturers of AUVs.
An
autonomous underwater vehicle (AUV) is an unmanned underwater vehicle that works
underwater without requiring commands or any inputs from the operator. AUVs are
usually used as survey platforms to map the seafloor or characterize the
physical, chemical, or biological properties of water. After completing the mission,
these AUVs return to a pre-programmed location where data can be downloaded and
processed. These vehicles are costlier as compared to ROVs. One of the
significant features of an AUV is the ability to carry a wide range of payloads
or sensors. These sensors conduct both spatial and time-series measurements
such as seabed mapping and oceanographic measurement due to which AUVs can
provide high quality, high-resolution data as compared to ROVs.
Based on the application, the underwater robotics market has been segmented
into defense and security, commercial exploration, and scientific research. The
commercial exploration segment was the dominant segment in 2019 and is expected
to register a CAGR of 10.4% over the forecast period. ROVs
are mostly used in commercial exploration as ROV technologies and capabilities
have improved the offshore oil & gas industry. This industry has relied on
ROVs for drilling support and subsea construction services to enable deepwater
exploration and development projects worldwide. These machines have accurate
and intelligent inspection mechanisms, faster, more responsive systems in cases
of unfortunate incidents, and efficient damage control systems for safer
results. Oil & gas companies invest heavily in R & D, and companies
such as TechnipFMC plc, Eddyfi Technologies, and Oceaneering International, Inc.
are the key players in the manufacturing of underwater robots for such
companies.
The global underwater robotics market, by
region, has been segmented into North America, Europe, Asia-Pacific,
and the rest of the world. North America dominated the global market,
valued at USD 903.69 million in 2019; the market is projected to register a
CAGR of 12.7% during the forecast period. The market in Asia-Pacific is
expected to register the highest CAGR of 15.8% during the forecast period.
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