Remotely Operated Vehicle (ROV)Industry 2019
Description:-
Remotely operated vehicles (ROVs) are underwater robots that are connected to an operator through a series of cables that transmit command and control signals to and from the underwater vehicle and the operator, allowing for the remote navigation of the vehicle. The evolution of ROV technology has resulted in the ever-growing application in military and defense, scientific research, oil and gas operations. ROVs are equipped cameras, high-frequency image sonar, and lights, which allow the operator to drive the equipment. Additionally, a manipulator, cutting arm, water sampler, and other instruments that measure water temperature and clarity may also be used.
Factors such as the increasing demand for ROVs in the oil & gas industry and rising military spending on enhancing maritime security have led to a growing demand for ROVs. However, the high cost of ROVs as compared to divers in shallow water applications and lack of trained ROV pilots could restrain market growth to a certain extent. The growing need for situational awareness in naval warfare and the advent of 3D printing technology offer promising growth opportunities to market players.
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Regional Analysis
North America was the largest market for ROVs in 2017. The US is the largest developer, operator, consumer, and exporter of ROVs, globally, which is expected to support the growth of the market in North America. Moreover, significant investments in scientific research and naval forces will lead to an increased demand for ROVs in the US in the coming years. Therefore, it is estimated that the market for ROVs in North America will be the largest, registering a CAGR of 9.21% during the forecast period. In Europe, Russia, the UK, and Norway have vast oil & gas reserves, especially in offshore areas. Moreover, the security risks of offshore activities create a need for ROVs, specifically in search and rescue operations. These countries are spending heavily on underwater vehicles to strengthen their security and for oil and rig activities. Therefore, the European market for ROVs is expected to exhibit a CAGR of 8.23% during the forecast period.
Key Players
DeepOcean AS (Netherlands), DOF ASA (Norway), Sapura Energy Berhad (Malaysia), Teledyne Technologies Inc. (US), Helix Energy Solutions Group (US), Oceaneering International, Inc. (US), Saab AB (Sweden), Fugro (Netherlands), Subsea 7 (UK), and TechnipFMC PLC (UK). Oceaneering International, Inc. (US), Subsea 7 (UK), Fugro (Netherlands), DOF ASA (Norway), and Helix Energy Solutions Group (US).
Objective of the Global Remotely Operated Vehicles Market Report – Forecast to 2023
• To provide insights into factors influencing the market growth
• To provide historical and forecast revenue of the market segments and sub-segments with respect to regional markets and their key countries
• To provide historical and forecast revenue of the market segments based on platform, application, material type, technology, and region
• To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market
Target Audience
UUV Manufacturers
UUV Dealers
Sub-component Manufacturers
Technology Support Providers
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Table Of Contents – Major Key Points
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics
4.1 Introduction
4.2 Drivers
4.2.1 Growing demand for ROVs in the oil & gas industry
4.2.2 Increase in military spending
4.3 Restraints
4.3.1 High costs of ROVs
4.3.2 Lack of trained ROV pilots
4.4 Opportunities
4.4.1 Growing need for situational awareness in naval warfare
4.4.2 Advent of 3D printing
5 Market Factor Analysis
5.1 Porter’s Five Forces Model
5.1.1 Threat of New Entrants
5.1.2 Bargaining Power of Suppliers
5.1.3 Bargaining Power of Buyers
5.1.4 Threat of Substitutes
5.1.5 Intensity of Rivalry
5.2 Supply Chain
5.3 Patent Analysis
5.3.1 List of Patents
6 Global Remotely Operated Vehicle Market, by Industry
6.1 Overview
6.1.1 Oil and Gas Application
6.1.1.1 Drilling Support
6.1.1.2 Construction Support
6.1.1.3 Inspection, Repair and Maintenance (IRM)
6.1.1.4 Others
6.1.2 Military and Defense
6.1.2.1 Explosive Ordnance Disposal (EOD)
6.1.2.2 Hull Inspections
6.1.2.3 Ballast Tank Inspections
6.1.2.4 Search and Rescue Operations
6.1.3 Scientific Research
6.1.4 Others
7 Global Remotely Operated Vehicle Market, by System Component
7.1 Overview
7.1.1 Electronics and Control Systems
7.1.2 Frame & Propulsion
7.1.3 Camera and Lighting systems
7.1.4 Others
Continued……
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