Categories under the type segment of the underwater robotics market include autonomous underwater vehicle (AUV) and remotely operated vehicle (ROV). Of these, the ROV category is expected to exhibit the faster growth during the forecast period, due to the burgeoning demand for ROVs in the deep-sea oil drilling industry.
Further, the AUV category will also register considerable growth in the forecast years, primarily on account of the surging deployment of such robots for detecting submerged wrecks and obstructions in the defense sector. The application segment of the underwater robotics market is classified into scientific research, defense and security, and commercial exploration.
Further, the AUV category will also register considerable growth in the forecast years, primarily on account of the surging deployment of such robots for detecting submerged wrecks and obstructions in the defense sector. The application segment of the underwater robotics market is classified into scientific research, defense and security, and commercial exploration.
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Among these, the defense and security category holds a substantial market share, due to the surging deployment of AUVs in the defense and security sector. For example, in 2019, General Dynamics Mission Systems launched Bluefin-12, an autonomous unmanned underwater vehicle, at Defense and Security Equipment International. Bluefin-12 is equipped with Bluefin autonomy and embedded intelligence.
According to P&S Intelligence, North America will account for the largest share in the underwater robotics market during the forecast period. Whereas, the Asia-Pacific (APAC) market is expected to register the fastest growth in the coming years, due to the mounting investments being made in the development of autonomous marine vehicles in China, Australia, India, South Korea, and Japan.
Furthermore, the European region will also showcase notable growth over the forecast period, owing to the increasing oil and gas exploration activities in the region. Thus, the rising production from offshore oil and gas reserves and increasing usage of underwater robots in the military and defense sector will augment the market growth in the foreseeable future.
According to P&S Intelligence, North America will account for the largest share in the underwater robotics market during the forecast period. Whereas, the Asia-Pacific (APAC) market is expected to register the fastest growth in the coming years, due to the mounting investments being made in the development of autonomous marine vehicles in China, Australia, India, South Korea, and Japan.
Furthermore, the European region will also showcase notable growth over the forecast period, owing to the increasing oil and gas exploration activities in the region. Thus, the rising production from offshore oil and gas reserves and increasing usage of underwater robots in the military and defense sector will augment the market growth in the foreseeable future.
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