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Remotely Operated Vehicle (ROV) Market, by industry (Oil and Gas, Military and defence, Scientific Research, Others), By End Use (Electronics and Control System, Frame and Propulsion, Camera and Lighting Systems and Others) opportunities and forecast 2020-2026

  • DLR1888
  • 29 May, 2020
  • Aerospace & Defense
  • Pages: 120
  • Global
Market Overview

Remotely operated vehicles are excellent solution for discovering unknown lands. The vehicles have connection with operator that has series of cables inside which transmit the command and control signals. This allows for the remote navigation. Vehicles are often used in the defense and military for the research purposes. Scientific researchers are major factor, along with the oil & gas exploration.

However, the vehicles come with heavy price tag which can be remotely functioned vehicles market deterrent. In addition, the lack of trained remotely functioned vehicles operators can forbid market from having expected growth. But the remotely operated vehicles market can look for benefits from the 3D printing which can bring down product price. Moreover, technology is slowly becoming integral part of the naval warfare. Avenues such as these can steer operated remotely vehicles market in right direction in future.

Segment Overview

The oil & gas industry is in lookout for new sources as industry is facing demand from several sectors. Investigation for new resources has led to the underwater exploration where the remotely functioned vehicles are plus as they are armed with the cameras and manipulators, and can also bring in samples. In defens and & military segment, these remotely functioned vehicles are getting more adhesion for their ability to keep eye on developments underwater. At same time, increase in defense spending has allowed numerous countries to invest in the remotely operated vehicles to advancement monitoring system.

Regional Overview

Regionally, the market is segmented into the Asia Pacific, North America, Europe and the Middle East & Africa. North America held the highest shares of market in 2019. The increasing demand for applications in oil and gas industries to complete task in very less time with the high accuracy is driving the growth of market in the region. Followed by North America, Asia Pacific accounted for the second highest shares of market with rise in the support from government through investments and to increase the economy.

Europe is continued to have tremendous growth rate throughout the forecast period. With rise in the demand for the subsea construction services with the remote devices is enabling demand of the market to extent in Europe. The Middle East & Africa are projected to have fastest growth rate in near future.

Competitor overview

In addition, increasing research & development institutes are also fuelling the demand of market. Emerging of the advanced technologies is impacting the market growth of the market. The rise in adoption of the new technologies by end-user industries in order to rise the productivity and to enable the best output is cost-effectively setting up demand of the market. Remotely functioned vehicles can be functional according to need as they are available in diverse sizes which increases efficiency of the work making tasks ease and growing the shares of market. Growing prevalence for exploration of outer space is expected to motivate demand of the remotely functioned vehicles market.

Key Players
  1. Fugro
  2. Saab AB
  3. DeepOcean Group, Inc.
  4. TechnipFMC PLC
  5. Subsea 7
  6. Teledyne Technologies Incorporation
  7. Oceaneering International Inc.
  8. DOF ASA
  9. Sapura Energy Berhad
  10. Helix ESG

Market Segmentation

By Industry
  • Oil & Gas Application
    • Drilling Support
    • Construction Support
    • Inspection, Repair, and Maintenance (IRM)
    • Others
  • Military & Defense
    • Explosive Ordnance Disposal (EOD)
    • Hull Inspections
    • Ballast Tank Inspections
    • Search and Rescue Operations
    • Scientific Research
    • Others
By Component
  • Electronics & Control Systems
  • Camera & Lighting Systems
  • Frame & Propulsion
  • Others
By Geography
  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
    • Brazil
    • Saudi Arabia
    • UAE
    • Rest of LAMEA

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