IMARC Group has recently released a new research study “Underwater Drone Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the Underwater Drone Industry?
The global underwater drone market sizereached US$ 3.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 6.0 Billion by 2028, exhibiting a growth rate (CAGR) of 12.37% during 2023-2028.
What is a Underwater Drone?
Underwater drone represents unmanned underwater vehicles that are capable of carrying out underwater oceanographic activities without a human occupant. They are available in numerous types, including remotely operated vehicles (ROV) autonomous underwater vehicles (AUV), hybrid vehicles, etc. Underwater drone variants are typically equipped with high-resolution cameras, superior manipulators, state-of-the-art propulsion systems, and highly sensitive sound, navigation, and ranging (SONAR) modules, making them an ideal option for bathymetric measurements and ocean exploration.They significantly reduce the time required to inspect equipment and other submerged items in the sea and prove highly effective in mapping the sea floor, predicting water-borne accidents, analyzing wave currents and visual dead zones, etc. Consequently, underwater drone models find extensive utilization in defense and security, scientific research, and commercial exploration activities.
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What Are The Key Factors Driving In The Underwater Drone Market?
The growing adoption of UUVs in deep-water offshore oil and gas exploration projects is primarily driving the underwater drone market. In addition to this, the inflating defense expenses to modernize military forces and the increasing product uptake for security applications are also positively influencing the global market. Furthermore, the escalating use of AUVs and ROVs for search, recognition, and localization activities is acting as another significant growth-inducing factor. Apart from this, the development of new products integrated with artificial intelligence (AI) and machine learning (ML) and the launch of energy-efficient underwater drones are further catalyzing the market growth.Moreover, the introduction of comprehensive research and development (R&D) activities, the expanding digitization, and the rising commercial aquaculture ventures for underwater farms are expected to bolster the underwater drone market over the forecasted period.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
Breakup by Product Type:
Breakup by Propulsion System:
Breakup by Application:
Regional Insights:
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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