Underwater Robotics Market Size Predicted to reach USD 5.003 Billion at 12.50% CAGR by 2030- Report by Market Research Future (MRFR)

According to MRFR analysis, the global Underwater Robotics Market is expected to register a CAGR of  12.50% from 2022 to 2030 and hold a value of over USD 5.003 Billion by 2030.

Underwater robots, also known as underwater vehicles, are used for critical operations that can’t be carried out by manpower. The invention of underwater robotics is highly beneficial for industries such as oil and gas, mineral exploration, underwater research, patrolling, defense, and other crucial industries. COVID-19 has had a significant impact on the growth of several industry verticals; the long–term impacts made on several industrial units continued to present themselves throughout the pandemic. The oil and gas industry is the major end-user of this industry and it is also picking up the pace in recent years.

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Underwater Robotics Market Key Players

Some of the key market players 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)
• Soil Machine Dynamics Ltd. (UK).

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Underwater Robotics Market Regional Analysis

North America is in the lead when it comes to exploration activities in the oceans and on foreign soils. The Asia-pacific region is growing due to Countries like China are also increasing their investments in the Underwater Robotics industry, and the increasing number of oil and gas explorations is also increasing the Underwater Robotics market value in the Asia-pacific region.

Underwater Robotics Market Segmentation

The global Underwater Robotics market has been segmented into product type, application, and end user.

Based on type, the market has been segmented into Remotely Operated Vehicles [ROV] and Autonomous Underwater Vehicles [AUV]. Remotely Operated Vehicles have the highest market share at present, but this is likely to change in the future as the demand for underwater drilling, gas, and mineral exploration increases.

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Based on application, the market has been segmented into Commercial Exploration, Defense & Security, and Scientific Research. The use of underwater robotics is highest in commercial exploration. This is because countries are trying to find alternative resources for oil and gas to suffice their needs. This is causing them to explore water bodies in their regions. Thus, the need to explore is driving the market for underwater robotics.

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