Underwater Robotics Market - Opportunities & Forecast, 2018-2025

Posted September 21, 2020 by shaqibakram

Technological advancements in the field of sensors used in underwater robots, broader range of application in various industries, and growing demand for underwater robots in defence are key factors driving growth....

Underwater Robots are those which work underwater with or without human intervention. These are autonomous or remotely operated devices which perform multiple functions and have gradually evolved with the advancements in technology, providing additional equipment for underwater surveillance. Governments across different countries have been investing in this technology for advanced military, commercial and scientific requirements such as intelligence, surveillance, investigation, mine countermeasure, oceanography, communication/navigation, anti-submarine warfare, and others. Advanced underwater robots can generate high-resolution sound waves, optical, and oceanographic surveys in deep oceans all over the world that previously were considered impractical and infeasible. The optical link allows the robot to operate in complex environments without the need of human intervention.

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Technological advancements in the field of sensors used in underwater robots, broader range of application in various industries, and growing demand for underwater robots in defence are key factors driving growth of the Global Underwater Robotics Market. Moreover, increasing research and development activities, and graowing awareness about availability of advanced imaging systems that can be used in low depths are other factors expected to fuel growth of the global underwater robotics market. However, the restraining factors hampering the growth in this market are high cost of R&D for development of underwater robots. Apart from that, malfunctions may occur while performing underwater expeditions or surveys is another factor which can hamper growth of the global underwater robotics market.

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The major factor for the growth in this market is due to increasing use in offshore oil and gas exploration as well as in undersea mineral exploration. Underwater robots are one of the important tool miners use to explore deep sea mineral wealth. Mining companies have been leveraging robotics technology to extract the rich mineral deposits under seabed. Major environmental impacts on the ocean can also be observed by the research organisations.

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The main players in this market are Bluefin Robotics Corp, International Submarine Engineering, Schilling Robotics, LLC, Saab AB, Inuktun Services Ltd, Oceaneering International, Inc., Hydro vision Ltd., Atlas Maridan, and Deep Ocean Engineering.

Key questions answered in this research report:

At what pace is Global Underwater Robotics market growing? What will be growth trend in future?
What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in Underwater Robotics market?
What are the various application areas and how they are poised to grow?

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Last Updated September 21, 2020