Underwater Drone Market Size, Share, Growth Analysis, By Type(Autonomous Underwater Vehicles (AUV), Remotely Operated Vehicles (ROV).), By Application(Defense and Security, Scientific Research, Commercial Exploration, and Others), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Underwater Drone Market?

Global Underwater Drone Market size was valued at USD 4.17 billion in 2022 and is poised to grow from USD 4.83 billion in 2023 to USD 15.74 billion by 2031, growing at a CAGR of 15.9% in the forecast period (2024-2031).

Report ID: SQMIG20D2204 | Region: Global | Published Date: April, 2024
Pages: 202 | Tables: 63 | Figures: 75

Underwater Drone Market News

In April 2024, Northrop Grumman unveiled its prototype unmanned underwater vehicle—the Manta Ray. The drone, which looks like a real manta ray, is an example of biomimicry.
In March 2024, Huntington Ingalls Industries, Inc. (HII), the largest military shipbuilding company in the United States, won a contract to build a REMUS 620 uncrewed underwater vehicle (UUV) for a client in the Indo-Pacific Region, set for delivery later this year, that will be used for monitoring and data collection missions.
In February 2024, Kongsberg Discovery was awarded a significant contract by the Defense Innovation Unit (DIU) to improve the U.S. Navy’s undersea operations capabilities. The 24-month contract intends to accelerate the use of state-of-the-art HUGIN Autonomous Underwater Vehicle (AUV) technology for vital navy operations.

Underwater Drone Market Report Snapshots

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Underwater Drone Market size was valued at USD 4.17 billion in 2022 and is poised to grow from USD 4.83 billion in 2023 to USD 15.74 billion by 2031, growing at a CAGR of 15.9% in the forecast period (2024-2031).

The aggressive panorama of the underwater drone marketplace is characterized by means of a combination of set up industry players, generation companies, and area of interest specialists. Several key elements impact the aggressive dynamics within this marketplace. Established corporations with a record in marine technology, defense, and underwater exploration, together with Lockheed Martin Corporation, Teledyne Technologies Incorporated, and Saab Group, keep a good sized market percentage because of their knowledge, longstanding presence, and complete product portfolios. 'Saab AB', 'Teledyne Technologies Inc.', 'Oceaneering International Inc.', 'Fugro N.V.', 'Subsea 7 S.A.', 'Ocean Infinity Ltd.', 'Bluefin Robotics (now part of Huntington Ingalls Industries)', 'ECA Group', 'DOF Subsea AS', 'Deep Ocean Engineering Inc.', 'Forum Energy Technologies', 'HitecVision AS (Owner of Kongsberg Maritime)', 'Ocean Aero Inc.', 'Shark Robotics', 'Saipem S.p.A.', 'VideoRay LLC', 'Kystdesign AS', 'Blue Robotics', 'Deep Trekker Inc.', 'Aquabotix Technology Corporation'

Increasing hobbies in marine exploration, oceanography, and marine biology has pushed the demand for underwater drones in scientific studies. These drones provide scientists with a fee-effective and green method of analyzing and tracking marine ecosystems, species, and underwater environments.

Autonomous Navigation: The development of advanced self reliant navigation systems for underwater drones changed into a significant fashion. These systems allow drones to carry out complex responsibilities with minimum human intervention, making underwater exploration and data collection extra efficient and cost-effective.

In the underwater drone marketplace, North America stands as the biggest and most influential location, with America at the vanguard. The United States boasts a strong maritime industry, a sizable defense and protection sector, and a thriving environment of era corporations focusing on underwater drones. Its shoreline and considerable territorial waters provide enough opportunities for packages ranging from offshore oil and gasoline exploration to defense and medical research. The presence of key industry players and widespread investments in marine robotics and self reliant systems further solidify the region's management within the underwater drone market.

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Underwater Drone Market Size, Share, Growth Analysis, By Type(Autonomous Underwater Vehicles (AUV), Remotely Operated Vehicles (ROV).), By Application(Defense and Security, Scientific Research, Commercial Exploration, and Others), By Region - Industry Forecast 2024-2031

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