The global underwater robotics market is expected to experience significant growth in the next five years. With a forecasted Compound Annual Growth Rate (CAGR) of a percentage during the period of 2023-2030, the market shows strong potential for expansion. A recent comprehensive report provides insights into the market’s size, share, and industry trends.
According to the study, the global underwater robotics market was estimated at USD million in 2022 and is anticipated to reach USD million by 2030. This growth can be attributed to increasing global demand for various applications such as scientific exploration, military operations, underwater construction, salvage, rescue and repair, and more.
The market is segmented based on applications, types, and regional outlook. In terms of applications, scientific exploration accounted for a significant percentage of the global market in 2021 and is projected to grow at a percent CAGR in the next six years.
The types of underwater robotics available in the market include autonomous vehicles, remotely operated vehicles, crawlers, and others. These advanced technologies play a crucial role in underwater operations, providing capabilities for data collection, exploration, surveillance, maintenance, and more.
Several key players dominate the global underwater robotics market, including ACSA, Deep Ocean Engineering, Bluefin Robotics, ECA Group, and International Submarine Engineering. These companies hold a significant share of the market’s revenue, driving industry growth through strategic initiatives.
The underwater robotics market encountered challenges during the COVID-19 pandemic and the Russia-Ukraine conflict. However, the report explores the effects of these events and strategies for recovery.
With ongoing advancements in technology and increasing applications, the underwater robotics market is poised for further expansion. Market value insights, major industry players, and recent trends are analyzed, providing a comprehensive understanding of the market’s growth trajectory.
Sources: Market Growth Reports