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Allied Market Research

Aquatic Robot Market by Type (Remotely Operated Vehicle (ROV) and Autonomous Underwater Vehicles (AUV))and Application (Defense & Security, Commercial Exploration, Scientific Research, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027

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Aug 2021 | 719 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Aquatic robots include robotics that sail, submerge, or crawl under water. They can be controlled either autonomously or remotely. Those robots have been widely used in recent years for seafloor explorations. This technology proved beneficial as it provides advanced data at a reduced cost. Continuous ocean surveillance is extended to underwater robots because they are designed to operate in demanding conditions where divers' health and accessibility are compromised. Aquatic robots are used in maritime safety, marine biology and underwater archaeology. In addition, they play an important role in offshore industry growth. Increasing use of advanced robotics technology in the oil & gas industry and increasing investments in defense sectors across various countries are two major factors affecting the market growth.

COVID-19 scenarioAnalysis:

  • Global aquatic robots market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for analog semiconductors.
  • Global factories have struggled to integrate new aquatic robots as workers have stayed in their homes, which disrupted the global supply chains.
  • The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for aquatic robots are gradually going to increase. 
  • This COVID-19 lockdown would help companies think about more advanced aquatic robots to enhance efficiency.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Aquatic robots are majorly utilized across the military & defense sector applications across the world, as it supports military operations in underwater surveillance. Furthermore, it also aids in patrolling and alarming in case of any incursion the enemy ships, and protecting the harbors and also the mine sweep for improving country's navel protection. Increased investments in R&D activities along with rise in awareness of the availability of advanced imaging systems is also expected to fuel the global aquatic robot market growth. However, need of high initial capital investment and requirement if highly skilled professional for maintenance can hamper the growth of the global aquatic robotics market. Furthermore, in situation of occurrence of underwater failures, expeditions or surveys along with problems of aquatic robotic systems demand extra cost inclusions is another factor that is expected to negatively impact the growth of the global aquatic robotics industry. However, with several well-established market players from the aquatic robots’ domain have increasingly come up with innovative ideas, is expected create lucrative opportunities.

The global aquatic robot market trends are as follows:

AUV segment shares a significant market share

The AUV segment is expected to witness a significant growth. It is attributed to the increasing demand and deployment in defense applications such as surveillance, measurement of mine counter, application of anti-warfare, and others. In addition, potential uses in ocean floor mapping, water sampling monitoring, polar ice analysis, and pipeline inspection are expected to drive further expansion.

Growth in adoption of automated technology in oil & gas industry

Development is due to increased usage in offshore oil & gas extraction as well as in underwater mineral mining activities. Underwater robotics is one of the main technologies miners use to exploit mineral deposits in deep sea. Mining companies use robotics technology to extract the rich mineral deposits beneath the seabed.The use of remotely operated vehicles for offshore oil and gas exploration development, drilling, maintenance, and repair operations to overcome restrictions for human divers contributes growth of the aquatic robotics market.

Adoption of aquatic robots in military & defense

The U.S. is making major investments to improve its defense sector overall. Investments were made to make advances in unmanned undersea variable payload vehicles to enhance their capabilities. The U.S. Navy has invested heavily in developing its overall operations such as monitoring and acoustic surveillance, rescue actions and setups of antisubmarine warfare, and marine countermeasure. Both of these factors contribute to the North American demand for aquatic robotics rising.

Due to presence of established as well as key players that offer different types of ROV and AUV products that holds a strong competition in the market. Development of innovative products are challenging other market players. Providers of aquatic robotics use approaches such as new product development and acquisitions to broaden their product range and improve their position in the industry.

Key segments covered:

Segments

Subsegments

  Type

  • Remotely Operated Vehicle (ROV)
  • Autonomous Underwater Vehicles (AUV)

  Application

  • Defense & Security
  • Commercial Exploration
  • Scientific Research
  • Others

Key benefits of the report:

  • This study presents the analytical depiction of the globalaquatic robotindustry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the globalaquatic roboticsmarket share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global aquatic robotmarket growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global aquatic robotmarket analysis based on competitive intensity and how the competition will take shape in coming years.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Type, Application, and Region

  Regions covered

North America (Canada, Mexico, and U.S.), Europe (France, Germany, UK, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia-Pacific), and LAMEA (Africa, Latin America, and Middle East)

  Companies covered

Major players analyzed 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

Questions answered in the aquatic robotmarket research report:

  • Which are the leading market players active in the aquatic robotmarket?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the aquatic robotmarket?
  • What are the projections for the future that would help in taking further strategic steps?
 
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