The Preterist view: They see the dragon in this passage as an invading power looking for allies in its evil quest. That power is Rome as it invades Israel. Some in this camp see this as the looming judgment against Rome for its slaughter of the righteous and invasion of Jerusalem. Others see this as Satan’s role influencing Rome. The sea is seen as the Gentile world or the pagan empires of Daniel. Most see this as the characteristics of an individual antichrist figure such as Nero or Rome. The healed wound is seen as the Nero resurrection myth being mocked, or the various emperors; others see this as the results of Rome’s violent wars and insurrections, and attempts of civil war. Some even speculate that Rome was wounded by the spread of Christianity and its assault on evil and its oppressive ways and/or the victory of Christ on the cross (Phil. 4:22). The worship of the beast and dragon is seen as Satanism, emperor worship, and the false gods of Rome.
The Futurist view: They see this passage as a parallel to Daniel chapter seven, and an amalgamation of Daniel’s four beasts, meaning the Gentile nations and their collaboration and future attack on Israel. The sea is seen as confusion and/or the great masses of humanity. Others see this as a European or Mediterranean power. The beast is the antichrist and he revives the Roman Empire. The characteristics are seen as the false charm and charisma of the antichrist as he deceives the masses. In addition the lion, bear, etc. describe the various empires coming together and their influence and hedonism. Most see these events as happening after the Tribulation.
The Idealist view: They see this passage as a collection of the succession of political and social evils coming together for evil purposes in various times and places. The characteristics, such as the lion and bear, are seen as the activity of Satan and legislative actions of evil, persecutions, oppressions, or the rise of Satan against the world and the Church; some see this as corruption in the Church, or false religions, or both. The sea is seen as the Gentile world, corruption and paganism versus faithfulness and God (Is. 17:12; 60:5). The wound is seen as Rome and other evils recovering from the backlash of faithfulness and the rise of the Church, and/or the death of Nero. “Who is able to make war with him” is seen as the recovery and resilience of evil in Rome by the rise of Domitian.
The Historicist view: They see this passage as an allegory involving the four beasts of Daniel, chapter seven, who blaspheme holiness and those who are faithful. The beast is seen as Roman paganism and the priests who propagated it. Others have seen this as the Catholic Papacy and/or oppressive ecclesiastical power, or perhaps the emperors of Rome. The sea is seen as the Gothic invasions; others as the various kingdoms of Rome. The seven heads are seen as the saying that Rome was built on seven hills. The wound is seen as the hurts from paganism or the wounds to the Church because of apostasy, and the death of the beast, seen later, is the last of these pagan emperors, Julian, when he was killed.