23 October 2019
Visiongain has launched a new Transportation Report Underwater Robotics Market Report 2019-2029 Forecasts by Product Type (Remotely Operated Vehicle (ROV), Autonomous Underwater Vehicles (AUV)), Application (Defense & Security, Commercial Exploration, Scientific Research, Others) PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.
Underwater robots are autonomous vehicle operating remotely underwater. They are primarily used for underwater surveillance across various industry verticals including oil fields, energy sector, security & defence and maritime security. Underwater robotics is also widely adopted in across archaeology and oceanology undersea to discover new species of aquatic vehicles and exploration of sunken ships. Technological advancements in sensors used in underwater vehicles and an increasing number of application across various industry vehicles are expected to drive the growth of the global underwater robotics market.
Companies are constantly developing their products with the integration of additional equipment to expand underwater capabilities. This equipment includes sonar, magnetometers, camera systems, light penetration devices, a manipulator, cutting & shearing tools, water samplers, and water density measurement instrument among others. One major application of underwater robotics is in maritime security where it is used for stalking enemy ships, protecting harbours and mine sweeping for improving the country’s naval security.
By Region, North America is expected to account for the largest market share in the global Underwater Robotics market, following by Europe. In North America, the US is leading the market whereas in Europe the UK is identified as one of the major contributions of the revenue growth in the global Underwater Robotics market. Asia Pacific region is projected to expand with the highest CAGR over the forecast period. Rising offshore oil & gas exploration activities in the Europe region is driving the revenue growth of the global underwater robotics in the European region.
Some of the major players operating in the global Underwater Robotics market are ATLAS MARIDAN Aps, Deep Ocean Engineering, Inc., Bluefin Robotics Corporation, ECA Group, International Submarine Engineering, Inuktun Services Ltd., Oceaneering International, Inc., Saab AB, Schilling Robotics, LLC, and Soil Machine Dynamics Ltd. These players are focusing on new product launches, promotions, and strategic alliances in order to expand their portfolio and strengthen their position in the market. The Underwater Robotics market is a highly competitive market with only a few dominant players.
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