Global Remotely Operated Vehicle Industry was valued at USD 1911.83 Million in the year 2018. Global Remotely Operated Vehicle Industry is further estimated to grow at a CAGR of 10.6% from 2018 to 2025 to reach USD 3825.9 Million. Remotely operated vehicles are an excellent solution for exploring unknown lands. These vehicles have a connection with an operator that has a series of cables inside which transmit command and control signals. This allows for remote navigation. The vehicles are often used in military and defense for research purposes. Scientific researches are also a major factor, along with oil & gas exploration.
Global Remotely Operated Vehicle Industry Share by 2025 (USD Billion)
The report has its focus on factors such as increasing defense expenditure and growing investment in oil & gas exploration. The oil & gas industry is in the lookout for new sources as the industry is experiencing demand from several sectors. Exploration for new resources has led to underwater exploration where remotely operated vehicles are a plus as they are equipped with cameras and manipulators, and can bring in samples. In defense & military segment, these remotely operated vehicles are getting more traction for their ability to keep an eye on the developments underwater. At the same time, the increase in defense expenditure has allowed several countries to invest in remotely operated vehicles to upgrade monitoring system.
By industry, the remotely operated vehicles industry can be segmented into oil & gas application, military & defense, scientific research, others. Oil & gas segment can be segmented into drilling support, construction support, inspection, repair, and maintenance, and others. Military & defense can be segmented into explosive ordnance disposal, hull inspections, ballast tank inspections, and search & rescue operations. By system component, the remotely operated vehicles industry can be segmented into electronics & control systems, frame & propulsion, camera & lighting systems, and others. By vehicle type, the remotely operated vehicles industry can be segmented into observation vehicle, work class vehicle, and towed & bottom-crawling vehicle. Work class vehicle includes light work-class, medium work-class, and heavy work-class.
Geographic analysis of the remotely operated vehicles industry namely includes North America, Europe, Asia Pacific (APAC), Latin America, and Middle East & Africa (MEA). North America’s technological brilliance has kept it ahead of the rest for the time being. However, the report projection puts the APAC in charge by the end of the forecast period with the maximum CAGR.
Major Market Players in Remotely Operated Vehicles Industry are DOF Subsea AS, Andrews Survey, C-Innovation, Forum Energy Technologies, Fugro Subsea Services Ltd, Hallin Marine Subsea International PLC, Helix Energy Solutions, i-Tech (Subsea 7), Kystdesign AS, Oceaneering International, Inc., Perry Slingsby Systems Limited, SAAB SEAEYE LTD., Saipem (Sonsub), Schilling Robotics, LLC, Soil Machine Dynamics Ltd (SMD), and Other Companies detailed profile is provided as per client requirement.
Remotely Operated Vehicle Industry Segmentation:
Remotely Operated Vehicle Industry Overview, By Industry Vertical
Remotely Operated Vehicle Industry Overview, By propulsion system
Remotely Operated Vehicle Industry Overview, By Capex Source
Remotely Operated Vehicle Industry Overview, By Component
Remotely Operated Vehicle Industry Overview, By Application
Remotely Operated Vehicle Industry Overview, By Vehicle Type
Remotely Operated Vehicle Industry Overview, by Region