Underwater Drones Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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Underwater Drones Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Status : October, 2020 | Technology & Media | PPT format

Report Digest


Global Underwater Drones Market: Snapshot

The technology that has enabled the development of drones—the remote, tiny, and highly innovative unmanned aerial vehicles—has advanced massively in the past few years, enabling the development of drones with futuristic features and capabilities. The technology continues to advance and new varieties of drones are being introduced relentlessly in the global market. Underwater drones, the unmanned underwater vehicles that have the capability of navigating underwater without the need for human intervention, are one such variety of drones that is capturing the attention of consumers from across a number of industries.

Presently in its early stages of development, the global market for underwater drones is steadily picking pace in terms of demand and adoption across a number of application areas. The demand is presently served majorly by applications such as aquaculture, marine inspection and research, offshore drilling, port security, pipeline inspection and maintenance, and potable water management. Owing to their high costs, underwater drones are presently witnessing demand majorly from regions such as Europe and North America owing to the presence of several developed economies in the regions.

Despite the presence of a vast set of growth opportunities in emerging economies from steadily expanding industries such as oil and gas, marine inspection and research, and aquaculture, the high cost of these products is hindering their adoption to a certain degree. However, as an increased number of companies enter the market for underwater drones, the costs are expected to go down in the near future.

Global Underwater Drones Market: Overview

Underwater drones are unmanned underwater vehicles (UUVs) that are gathering pace in the application areas of robotics engineering. Underwater drones have a wide range of applications in various sectors including defense, law enforcement and public safety, marine, and information and communication technologies (ICT). Sometimes known as remotely-operated underwater vehicles (ROVs), the technologies used in UUVs may include cameras, sensors, and lasers, and these are typically operated using mobile devices. Their use is getting popular in diverse areas such as marine inspection and research, port security, aquaculture, potable water management, offshore drilling, and pipeline inspection and maintenance. The growing use of consumer drones for underwater applications is opening up promising avenues in undersea cinematography and fishing.

Global Underwater Drones Market: Key Trends

The burgeoning application of consumer drones for a variety of underwater operation and inspection activities and the growing demand for unmanned underwater vehicles in marine research are some of the key trends boosting the underwater drones market. There is a growing demand for UUV among defense and law enforcement agencies for surveillance. This has stimulated substantial research and development funding in developed nations, thereby catalyzing the underwater drones market. The limited practical applications of underwater drones, primarily due to high cost and technological constraints with tethering, is a key factor likely to hinder the market growth to an extent. Constant improvements in the control systems of UUVs and recent advancements in the camera technology are expected to open up exciting opportunities in the market.

Global Underwater Drones Market: Market Potential

The rising popularity of ROVs to be equipped with virtual reality technologies for a better immersive experiences below ocean and sea has opened up lucrative growth avenues in the underwater drones market. Blueye Robotics, a Norwegian technology start-up, in June 2017, has launched a remotely-operated underwater vehicle, called the Blueye Pioneer drone. The Pioneer drone can made to go to a depth of 450 feet and take 1080p videos, record, and stream them at a pace of 30 frames/seconds. Equipped with LED lights, they can even work even in murky water.

The Pioneer drone is considered useful in various underwater application such as inspecting underwater sea cables and checking offshore wind farms. In addition, it can be remotely controlled using user-friendly navigation controls, such as videogame console controller, or through a smartphone. The high-technology drone, believes Blueye Robotics, is a significant technological advancement as it can be combined with virtual reality headsets. The company hopes to ship the device in 2018 for an estimated price of US$3550.

In another recent development, PowerVision Robot Corporation, a pioneer in developing underwater drones, has launched PowerEye in January 2017. It is a tethered drone fitted with a sonar system that can be descended to a depth of 30 meters to detect fish up to more 40 meters. The drone has gained popularity with fishing enthusiasts and serious hobbyists alike.

Global Underwater Drones Market: Regional Outlook

Geographically, North America is a prominent market for underwater drones. The growth of the regional market is driven by substantial spending by the defense in advanced nations and the burgeoning off-shore oil drilling activities across several parts of the region. Meanwhile, the Middle East and Africa and Asia Pacific are expected to offer lucrative growth avenues for players in the underwater drones market. The rising threat of terrorist activities is anticipated to boost these regional markets. In addition, recent advances in oil and gas exploration activities made in Nigeria is expected to accentuate the South African market for underwater drones.

Global Underwater Drones Market: Competitive Analysis

In recent years, the technology has garnered substantial interest among several robotics firms focused on developing underwater consumer drones. This has led several emerging players to generate funds using crowdsourcing in order to consolidate their distribution channels and explore new geographic markets. Leading players are also investing substantial amounts in research and development activities in order to gain a competitive edge over others. Key players vying for a significant share in the underwater drones market include Kongsberg Maritime, Oceaneering International Inc., Teledyne Technologies, Subsea 7 S.A, Blueye, and Aquabotix Technology Corporation.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?