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Increased defence spending to modernise military forces around the world is expected to drive innovation in underwater drone manufacturing, driving the market during the forecast period.

The global underwater drone market is expected to grow from $4.06 billion in 2022 to $4.53 billion in 2023 at a compound annual growth rate (CAGR) of 11.58%. The underwater drone market is expected to reach $6.54 billion in 2027 at a CAGR of 9.65%.

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Global Underwater Drone Market Segments Include:

• By Type: Remotely Operated Vehicle, Autonomous Underwater Vehicles, Hybrid Vehicles
• By Product Type: Micro, Small And Medium, Light Work-Class, Heavy Work-Class
• By Propulsion: Electric System, Mechanical System, Hybrid System
• By Application: Defense And Security, Scientific Research, Commercial Exploration, Others Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global underwater drone market in 2021.

Major Market Players in the underwater drone market include Saab Seaeye Ltd., Teledyne Marine Group, The Boeing Company, Lockheed Martin Corporation, Bluefin Robotics, Kongsberg Maritime, ECA Group.

The key trends gaining traction in the underwater drone market are technological advancements. Major market players are utilising advanced technologies such as artificial intelligence to maintain their market position in the underwater drone market. The emulation of human intelligence in devices designed to act and think like humans is known as artificial intelligence (AI). Drones can be guided by AI to perform autonomous operations. For example, in June 2022, QYSEA Technology, a China-based company specialising in underwater robots and drones, launched an AI-powered vision platform that provides precision underwater active visual locking capabilities to its FIFISH underwater robots. The AI Vision Lock technology can visually lock onto selected targets in any underwater environment with ease and precision. After the user simply presses on the region of interest on the APP screen, the ROV will change its position and lock the target in the middle of the screen. When the AI Vision Lock is enabled, the FIFISH user’s operational efficiency and current resistance improve.

The Underwater Drone Global Market Report 2023  provides a underwater drone market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The underwater drone market forecast analyzes underwater drone market size, underwater drone market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Underwater drones are submerged robotic devices that can be used by divers or operators on land to explore the depths of vast bodies of water. Organizations, agencies, and subsea industries use underwater drones to remotely examine, assess, and monitor their assets while lowering operating costs and human risks.

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