Underwater robots are also called as autonomous underwater vehicles, and these can be remotely operated. Underwater robots can be beneficial in many aspects such as exploration for oil & gas, mineral exploration, underwater data collection, search and rescue, monitoring sea life and underwater environmental changes, and also in military and defense applications. Advanced underwater robots can perform high-resolution acoustic, optical, and physical oceanographic surveys in deep oceans that previously were considered impractical or infeasible. The optical link allows the robot to operate in cluttered environments without the need for a tether.
Increasing adoption of underwater robots by the defense sector in developed economies is expected to boost growth of the global underwater robotics market over the next five years
Technological advancements in sensors used in underwater robots, vast application in various industrial sectors, and rising demand for underwater robots in defense are key factors driving growth of the global underwater robotics market. In addition, increasing research and development activities, and growing 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 over the forecast period.
However, high cost of R&D for development of underwater robots is a key factor restraining growth of the global underwater robotics market. Additionally, malfunctions that may occur while performing underwater expeditions or surveys is another factor anticipated to hamper growth of the global underwater robotics market over the forecast period.
The global underwater robotics market is segmented on the basis of product, end users, and region. On the basis of region, the global underwater robotics market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in North America is anticipated to account for highest revenue share in the global underwater robotics market, followed by the market in Asia Pacific. This can be attributed to increasing use of underwater robots in the defense sector in countries in the region. The market in Asia Pacific accounted for second-highest revenue share in the global underwater robotics market, owing to high adoption of underwater robots in emerging economies in the region. Also, the underwater robotics market in Europe is also expected to witness significant growth over the forecast period.
Prominent players in the global underwater robotics market include Deep Ocean Engineering, Inc., General Dynamics Mission Systems, Inc., ECA Group, International Submarine Engineering Limited, Soil Machine Dynamics Ltd., Inuktun Services Ltd., MacArtney A/S, Atlas Maridan, Phoenix International, and Schilling Robotics.