Underwater Robot Market

Underwater Robot Market Outlook (2024 to 2034)

The global underwater robot market size is valued at US$ 1.54 billion in 2024, as studied in the updated research report released by Fact.MR. Revenue from the sales of underwater robots is projected to increase at a CAGR of 13.7% and reach US$ 5.57 billion by the end of 2034. Rising demand for underwater robots in offshore oil & gas industries is attributed to the requirements for scientific research and sea exploration.

The growing use of underwater robots for rescue, salvage, and repair operations is contributing to the global market growth in the coming 10 years. The increasing utilization of underwater vehicles in the navy, police forces, and military for various operations, including surveillance and reconnaissance, intelligence gathering, inspection and identification, miner countermeasures, oceanography, payload delivery, etc., is forecasted to generate prospects for market players going forward.

In recent years, underwater robots have been gaining prominence, especially because of growing requirements for searching and exploring more offshore oil & gas reserves. Furthermore, constant technological advancements in these automated machines are also anticipated to drive global market growth. Various types of underwater robots are operating in multiple offshore industries. They also find applications in academic and applied oceanographic sciences.

Underwater robots are available with lights and cameras, which are anticipated to assist end users with a vision in the dark ocean. Further, they are expected to assist end users in establishing communication with respective operators and thus result in improved efficiency of the research and exploration activities. Underwater archeology, defense, marine biology, infrastructure inspection, and maritime security are some of the key application areas of underwater robots.

• Worldwide demand for remote-operated vehicles is forecasted to increase at a CAGR of 13.5% and reach a worth of US$ 3.02 billion by the end of 2034.
• East Asia is approximated to account for 23.7% share of the global market by 2034.
• Sales of underwater robots in South Korea are evaluated to rise at 14% CAGR from 2024 to 2034.

Report Attribute	Detail
Underwater Robot Market Size (2024E)	US$ 1.54 Billion
Forecasted Market Value (2034F)	US$ 5.57 Billion
Global Market Growth Rate (2024 to 2034)	13.7% CAGR
Market Share of Commercial Segment (2034F)	38.9%
North America Market Share (2034F)	26.8%
Japan Market Growth Rate (2024 to 2034)	14% CAGR
Key Companies Profiled	Eddyfi Technologies; General Dynamics Mission Systems Inc.; ECA Group; Oceaneering International; Atlas Elektronik; Saab AB; Deep Ocean Engineering Inc.; Soil Machine Dynamics Ltd.; Bluefin Robotics Corp; International Submarine Engineering; TechnipFMC Plc.; Schilling Robotics LLC; VideoRay LLC.

What is Responsible for Expanding Underwater Robot Market Size?

“Underwater Infrastructure Inspection Igniting Sales of Robots for Remote Use”

More people now are willing to invest to experience life underwater. They are investing in underwater hotels or related infrastructure. In addition, scarcity of water resources, increasing consumption of electricity, etc., are leading to the construction of giant dams to match requirements. Dams are used as a barricade controlling or confining gush of subsurface brooks or surface water. Moreover, an increase in investment in dam maintenance is also forecasted to generate demand for underwater robots.

For the construction of a dam, inspection, and analysis of the site is pivotal. Therefore, underwater robots are employed significantly for effective conduction of research and assistance in construction activities. After dam construction, constant inspection is required to prevent any disaster due to which an increase in the employment of underwater robots is witnessed, particularly in huge dams. Therefore, underwater infrastructure development is set to create remunerative opportunities for manufacturers of underwater robots.

Which Drawbacks are Restraining Underwater Robot Market Growth?

“High Product Cost and Dearth of Skilled Personnel”

Underwater robots are utilized in various industries however, the high cost of production, maintenance, and operation is projected to limit their demand. In addition, skilled professionals are required to avoid any sort of mishap. Moreover, semiconductors are used as elementary components required for the manufacturing of robots. Differences between the demand and supply of semiconductors with constant fluctuations in their prices are set to hamper market growth. Cyberattacks and misuse of these automated devices are also adversely impacting their demand.

How are Startups Establishing a Strong Foothold in This Business Space?

“Technological Advancements in Imaging Systems and Sensors”

Various aspiring market players are taking an interest in the use of modern electronic oceanographic instruments. Startups are investing in the designing and integration of extremely sophisticated imaging systems and sensor modules into their products. Some of these advancements include the use of acoustics for identifying vehicle position and vision systems, which help in picture mosaicking, visual serving, station keeping, and pipeline visual tracking.

Country-wise Insights

North America is evaluated to account for 26.8% of the underwater robot market share by the end of 2034, as opined in the recently updated report by Fact.MR, a market research and competitive intelligence provider. The dominance of the region is owing to the growing number of offshore energy activities. In addition, intensive underwater research initiatives are also driving demand for respective robots.

Which Underwater Robot Market Trends are Pushing the United States Market Forward?

“High Expenditure in Defense”

Attribute	United States
Market Value (2024E)	US$ 337.1 Million
Growth Rate (2024 to 2034)	13.8% CAGR
Projected Value (2034F)	US$ 1.23 Million

The United States is forecasted to occupy 82.3% share of the market in North America by the end of 2034. Increasing expenditure by the government in the United States in the defense sector has a positive impact on the demand for underwater robots. They are used in the industry for protecting the harbor and hunting down enemy ships, which is forecasted to positively impact demand for underwater robots in the coming 10 years.

What Makes China a Goldmine for Underwater Robot Manufacturers?

“Expanding Oil & Gas Industry Stimulating Use of Underwater Robots for Exploration Purposes”

Attribute	China
Market Value (2024E)	US$ 186 Million
Growth Rate (2024 to 2034)	14.1% CAGR
Projected Value (2034F)	US$ 697.6 Million

China is projected to account for a revenue share of 52.8% of the East Asian market by 2034. As one of the prominent producers of oil, China is estimated to experience an expansion in the oil & gas industry going forward. This is anticipated to create remunerative opportunities for manufacturers of underwater robots. These automated machines are utilized for maintaining offshore oil & gas plants. In addition, they are also employed to discover new oil & gas reserves in the ocean.

Category-wise Insights

Fact.MR, in its updated report, asserts that underwater robots are estimated to find increased use in the commercial sector. Industrial infrastructure inspection, oil & gas exploration, shipwreck recovery, etc., are some of the popular uses of underwater robots, which are generating market prospects in the coming 10 years.

Which Type of Underwater Robot is Set to Generate Higher Revenue?

“Growing Application of Remote-operated Vehicles to Minimize Chances of Human Errors”

Attribute	Remote-Operated Vehicles
Segment Value (2024E)	US$ 855.3 Million
Growth Rate (2024 to 2034)	13.5% CAGR
Projected Value (2034F)	US$ 3.02 Billion

Remote-operated vehicles are calculated to capture 54.2% share of global market revenue by the end of 2034. These robots are utilized for inspection, sampling, and surveying, which was previously completed by humans. With increasing chances of human errors, an inclination to remote-operated vehicles is also experienced.

There are some other popular applications of remote-operated vehicles, including seafloor experiments, which are expected to generate requirements for challenging operations, including delicate placement, drilling instrumentation, etc. Thus, an increase in the demand for remote-operated vehicles is experienced across more regions.

Which Application of Underwater Robots is More Rewarding for Market Players?

“Commercial Application of Underwater Robots Accounts for High Revenue Streams”

Attribute	Commercial
Segment Value (2024E)	US$ 595.9 Million
Growth Rate (2024 to 2034)	13.8% CAGR
Projected Value (2034F)	US$ 2.17 Billion

Commercial application of underwater robots is projected to hold 38.9% of the global market share by 2034. Inshore and offshore surveys, industrial infrastructure inspection, shipwreck recovery, and oil & gas exploration are some of the popular applications of underwater robots. An expansion of the oil & gas industry is anticipated to contribute to the growing demand for underwater robots. These robots are utilized in the oil & gas industry for deep-sea exploration.

Competitive Landscape

Key players in the underwater robot market are making efforts to minimize the cost of robots to attract small and medium-scale users from different potentially high-growth countries and increase profit share. In addition, their active involvement in the supply of quality products, efficient management of supply chain systems, and new product development are forecasted to aid in securing a position for themselves.

For instance :

• Deep Ocean Engineering, Inc., in April 2023, started the operation of its first AID (autonomous inspection drone) for checking offshore wind farms and oil & gas assets. This is estimated to participate significantly in the conduction of offshore trails in the coming months.

Fact.MR provides detailed information about the price points of key manufacturers of underwater robots positioned across the world, sales growth, production capacity, and speculative technological expansion, in the recently updated market report.

Segmentation of Underwater Robot Market Research

• By Type :

  • Remote-Operated Vehicles
  • Autonomous Underwater Vehicles

• By Application :

  • Commercial
  • Defense & Security
  • Research

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • MEA