Underwater Drone Market to Garner $7.39 Billion by 2027: Says Allied Market Research
Growth in demand for underwater drones for defense and security applications, increase in deep-water offshore oil and gas exploration, and surge in demand for oceanographic research fuel the growth of the global underwater drone market. By type, the Remotely Operated Vehicle (ROV) segment dominated the market with major share in 2019. However, the market across Asia-Pacific would portray the fastest CAGR throughout the forecast period.
Portland, OR, Jan. 14, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global underwater drone market was estimated at $3.59 billion in 2019 and is expected to hit $7.39 billion by 2027, registering a CAGR of 11.7% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Download Report Sample (302 Pages PDF with Insights, Charts, Tables, Figures) at https://www.alliedmarketresearch.com/request-sample/9047
Increase in deep-water offshore oil and gas exploration, surge in demand for underwater drones for defense and security applications, and growth in demand for oceanographic research drive the growth of the global underwater drone market. On the other hand, communication problems associated with AUVs impede the growth to certain extent. Nevertheless, advent of energy-efficient underwater drones and rise in adoption of underwater drones in emerging economies pave the way for lucrative opportunities in the coming years.
Covid-19 Scenario-
- The outbreak of the pandemic led to a sharp decline in military budgets to contribute to the pandemic response and recovery measures. Also, the demand from other end using sectors such as oil and gas has also decreased to a significant extent.
- Nevertheless, the government bodies in various regions are coming up with relaxations in order to maintain economic stability, due to which, the industry is expected to retrieve soon.
Get detailed COVID-19 impact analysis on the Underwater Drone Market Request Here!
The global underwater drone market is analyzed across type, application, propulsion system, product type, and region. Based on type, the Remotely Operated Vehicle (ROV) segment contributed to the highest share in 2019, holding nearly three-fifths of the global underwater drone market. The Autonomous Underwater Vehicles (AUV) segment, on the other hand, is projected to manifest the fastest CAGR of 15.0% from 2020 to 2027.
Based on application, the defense and security segment accounted for two-fifths of the total market share in 2019, and is expected to rule the roost throughout the forecast period. Simultaneously, the commercial exploration segment is anticipated to showcase the fastest CAGR of 12.3% by the end of 2027.
Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/9047
Based on geography, North America accounted for more than one-third of the total market share in 2019, and is projected to retain its dominance from 2020 to 2027. Simultaneously, the market across Asia-Pacific region would showcase CAGR of 12.8% by 2027. The other two regions studied through the report include Europe and LAMEA.
The key market players analyzed in the global underwater drone market report include The Boeing Company, Lockheed Martin Corporation, Bluefin Robotics, Saab Seaeye Ltd, Teledyne Marine Group, Kongsberg Maritime, Oceaneering International, Inc., TechnipFMC plc, ECA Group, and Deep Ocean Engineering, Inc. These market players have taken recourse to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their stand in the industry.
Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business at https://www.alliedmarketresearch.com/connect-to-analyst/9047
Similar Reports We Have on Drone Technology Industry:
Small Drones Market by Size (Mini and Micro), Type (Fixed Wing and Rotary Wing), and Application (Commercial and Defense): Global Opportunity Analysis and Industry Forecast, 2017-2030.
Drone Payload Market by Type (Cameras and sensors, Radar and communication, Weaponry), Users (Defense, Agriculture and environment, Media and entertainment, Energy, Government, Construction and archaeology, transportation, insurance, tourism) – Opportunity Analysis and Industry Forecast, 2014 – 2030.
Commercial Drones Market by Type (Fixed wing drones, Rotary bade drones, Hybrid drones segment), Application (Agriculture and Environment, Media and Entertainment, Energy, Government, Construction & Archaeology) – Global Opportunity Analysis and Industry Forecast, 2014-2030.
Firefighting Drone Market By Type (Fixed-Wing Drones, Multi-Rotor Drones, And Single Rotor Helicopter Drones) and Industry (Corporates, Hospitality, Education, Military & Defense, Government, And Energy & Utilities): Global Opportunity Analysis and Industry Forecast, 2020–2027.
Military Drones Market by Type (Fixed Wing, Rotary Wing and Hybrid), Range (Visual Line of Sight (VLOS), Extended Visual Line of Sight (EVLOS) and Beyond Line of Sight (BLOS)), Application (Intelligence, Surveillance, Reconnaissance, and Target Acquisition (ISRT), Delivery and Transportation, Combat Operations and Battle Damage Management), Propulsion (Battery Powered, Fuel Cell and Hybrid Cell), Endurance (Up to 2 Hours, 2 to 6 Hours and More than 6 Hours), Maximum Take-off Weight ( Less than 25 Kilograms, Between 25 to 150 Kilograms and More than 150 Kilograms), and Launching Mode (Vertical Take-off, Automatic Take-off and Landing, Catapult Launcher and Hand Launched): Global Opportunity Analysis and Industry Forecast, 2020–2027.
Drone Service Market by Type (Drone Platform Services, Drone Maintenance, Repair, and Overhaul (MRO) Services, Drone Training & Education Services), Duration of Service (Short Duration Services and Long Duration Services), Application (Aerial Photography & Remote Sensing, Data Acquisition & Analytics, Mapping & Surveying, Modelling, Disaster Risk Management & Mitigation, Inspection & Environmental Monitoring, and Others), Industry (Infrastructure, Agriculture, Logistics, Media & Entertainment, Oil & Gas, Utility & Power, Security, Search & Rescue, Mining, Scientific Research, Insurance, and Others), Solution (Enterprise and Point): Global Opportunity Analysis and Industry Forecast, 2020–2027.
About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, and researchers and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn |