Market Analysis: Global Underwater Robotics Market
Global Underwater Robotics Market is expected to rise from its initial estimated value of USD 2.79 billion in 2018 to an estimated value of USD 7.74 billion by 2026, registering a CAGR of 13.61% in the forecast period of 2019-2026. Increasing demand of underwater robotics from various end-user is major factor for the growth of this market.
Market Definition: Global Underwater Robotics Market
Underwater robotics is those robots which travel underwater. They are of two types remotely operated vehicles and autonomous under water vehicles. They are specially designed for the ocean supervision. They are widely used in defence and security, scientific research, commercial exploration etc. It plays very important role in maritime security, marine biology and underwater archaeology.
- Increasing demand of underwater robotics from various end-users is driving the growth of this market
- Technological advancement and development is another factor driving the market
- High investment cost is restraining the growth of this market
- Increasing chances of failure while performing underwater expeditions or surveys is another factor restraining the market growth
Segmentation: Global Underwater Robotics Market
- Remotely Operated Vehicle
- Autonomous Underwater Vehicles)
- Defense & Security
- Commercial Exploration
- Scientific Research
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Developments in the Market:
- In March 2019, Planys Technologies announced the launch of their new remote operated vehicles for underwater inspection- Mikros. This new robot have the ability to to go 200- meter deep and can stay underwater for unlimited hours. They are designed in such a way that they can collect data in difficult situations like tubit waters, high depth and inside long pipelines.
- In November 2016, Planys Technologies announced the launch of their second underwater robot ROV Beluga. This new vehicle has more thrust capacity and is designed to perform functions like spot bio-fouling cleaning, ultrasonic thickness measurements, cathodic potential (CP) measurements and many acoustic surveys. They are specially designed for gas and shipping sector but can be used in many different sectors.
Competitive Analysis: Global Underwater Robotics Market
Global underwater robotics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of underwater robotics market for global, Europe, North America, Asia-Pacific and South America.
Major Market Competitors/Players: Global Underwater Robotics Market
Few of the major competitors currently working in global underwater robotics market are Atlas Maridan ApS, Deep Ocean Engineering, Inc., General Dynamics Mission Systems, Inc., ECA GROUP, International Submarine Engineering Limited, Inuktun Services Ltd., Oceaneering International, Inc., Saab AB, Soil Machine Dynamics Ltd., Phoenix International, MacArtney A/S, Hydrovision.
Research Methodology: Global Underwater Robotics Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved