Global Remotely Operated Vehicle (ROV) Market Research Report Forecast to 2023

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Description

Introduction
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.

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

Key Findings
• The global remotely operated vehicle market in this report has been segmented by platform into industry, system component, and vehicle type.
•The remotely operated vehicle market in this report has been segmented on the basis of industry into oil and gas application, military and defense, scientific research, and others. The military and defense segment market is projected to register the highest CAGR of 20.43% during the forecast period.
• The remotely operated vehicle market in this report has been segmented on the basis of system component into electronics and control systems, frame & propulsion, camera and lighting systems, and others. The electronics and control systems segment market is projected to register the highest CAGR of 11.57% during the forecast period.
•The remotely operated vehicle market in this report has been segmented on the basis of vehicle type into observation vehicle, work class vehicle, and towed and bottom-crawling vehicle. The work class vehicle segment market is projected to register the highest CAGR of 11.53% during the forecast period.
• North America would dominate the remotely operated vehicle market by 2023. It is expected to register a CAGR of 9.21% during the forecast period. It is expected to reach a market size of USD 898.5 million by 2023.

The regional analysis also includes:
• North America
o US
o Canada
• Europe
Russia
UK
Norway
Rest of Europe
Asia-Pacific
o India
o Japan
o Australia
o Rest of Asia-Pacific
• Middle East & Africa
o Israel
o UAE
o Saudi Arabia
o Rest of Middle East & Africa
• Latin America
o Brazil
o Mexico
o Rest of Latin America

Table of Contents

Table of Contents:

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
8 Global Remotely Operated Vehicle Market, by Vehicle Type
8.1 Overview
8.1.1 Observation Vehicle
8.1.2 Work Class Vehicle
8.1.2.1 Light Work-Class Vehicle
8.1.2.2 Medium Work-Class Vehicle
8.1.2.3 Heavy Work-Class Vehicle
8.1.3 Towed and Bottom-Crawling Vehicle
9 Global Remotely Operated Vehicle Market, by Region
9.1 Overview
9.2 North America
9.2.1 US
9.2.1.1 US by Industry
9.2.1.1.1 US by Oil and Gas Application
9.2.1.2 US by System Component
9.2.1.3 US by Vehicle Type
9.2.2 Canada 59
9.2.2.1 Canada by Oil and Gas Application
9.2.2.1.1 Canada by Oil and Gas Application
9.2.2.2 Canada by System Component
9.2.2.3 Canada by Vehicle Type
9.3 Europe
9.3.1 Russia
9.3.1.1 Russia by Industry
9.3.1.1.1 Russia by Oil and Gas Application
9.3.1.2 Russia by System Component
9.3.1.3 Russia by Vehicle Type
9.3.2 UK
9.3.2.1 UK by Industry
9.3.2.1.1 UK by Oil and Gas Application
9.3.2.2 UK by System Component
9.3.2.3 UK by Vehicle Type
9.3.3 Norway
9.3.3.1 Norway by Industry
9.3.3.1.1 Norway by Oil and Gas Application
9.3.3.2 Norway by System Component
9.3.3.3 Norway by Vehicle Type
9.3.4 Rest of Europe
9.3.4.1 Rest of Europe by Industry
9.3.4.1.1 Rest of Europe by Oil and Gas Application
9.3.4.2 Rest of Europe by System Component
9.3.4.3 Rest of Europe by Vehicle Type
9.4 Asia-Pacific
9.4.1 China
9.4.1.1 China by Industry
9.4.1.1.1 China by Oil and Gas Application
9.4.1.2 China by System Component
9.4.1.3 China by Vehicle Type
9.4.2 India
9.4.2.1 India by Industry
9.4.2.1.1 India by Oil and Gas Application
9.4.2.2 India by System Component
9.4.2.3 India by Vehicle Type
9.4.3 Australia
9.4.3.1 Australia by Industry
9.4.3.1.1 Australia by Oil and Gas Application
9.4.3.2 Australia by System Component
9.4.3.3 Australia by Vehicle Type
9.4.4 Indonesia
9.4.4.1 Indonesia by Industry
9.4.4.1.1 Indonesia by Oil and Gas Application
9.4.4.2 Indonesia by System Component
9.4.4.3 Indonesia by Vehicle Type
9.4.5 Rest of Asia-Pacific
9.4.5.1 Rest of Asia-Pacific by Industry
9.4.5.1.1 Rest of Asia-Pacific by Oil and Gas Application
9.4.5.2 Rest of Asia-Pacific by System Component
9.4.5.3 Rest of Asia-Pacific by Vehicle Type
9.5 Latin America
9.5.1 Brazil
9.5.1.1 Brazil by Industry
9.5.1.1.1 Brazil by Oil and Gas Application
9.5.1.2 Brazil by System Component
9.5.1.3 Brazil by Vehicle Type
9.5.2 Mexico
9.5.2.1 Mexico by Industry
9.5.2.2 Mexico by Oil and Gas Application
9.5.2.3 Mexico by System Component
9.5.2.4 Mexico by Vehicle Type
9.5.3 Rest of Latin America
9.5.3.1 Rest of Latin America by Industry
9.5.3.1.1 Rest of Latin America by Oil and Gas Application
9.5.3.2 Rest of Latin America by System Component
9.5.3.3 Rest of Latin America by Vehicle Type
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.1.1 Saudi Arabia America by Industry
9.6.1.1.1 Saudi Arabia America by Oil and Gas Application
9.6.1.2 Saudi Arabia America by System Component
9.6.1.3 Saudi Arabia America by Vehicle Type
9.6.2 UAE
9.6.2.1 UAE by Industry
9.6.2.1.1 UAE by Oil and Gas Application
9.6.2.2 UAE by System Component
9.6.2.3 UAE by Vehicle Type
9.6.3 Israel
9.6.3.1 Israel by Industry
9.6.3.1.1 Israel by Oil and Gas Application
9.6.3.2 Israel by System Component
9.6.3.3 Israel by Vehicle Type
9.6.4 Rest of Middle East and Africa
9.6.4.1 Rest of Middle East and Africa by Industry
9.6.4.1.1 Rest of Middle East and Africa by Oil and Gas Application
9.6.4.2 Rest of Middle East and Africa by System Component
9.6.4.3 Rest of Middle East and Africa by Vehicle Type
10 Competitive Landscape
10.1 Competitive Scenario
10.2 Market Share Analysis
10.3 Mergers & Acquisitions
10.4 Competitive Benchmarking
11 Company Profiles
11.1 Fugro
11.1.1 Company Overview
11.1.2 Financial Overview
11.1.3 Products/Services Offered
11.1.4 Key Developments
11.1.5 SWOT Analysis
11.1.6 Key Strategies
11.2 Saab AB
11.2.1 Company Overview
11.2.2 Financial Overview
11.2.3 Products/Services Offered
11.2.4 Key Developments
11.2.5 SWOT Analysis
11.2.6 Key Strategies
11.3 DeepOcean Group, Inc.
11.3.1 Company Overview
11.3.2 Financial Overview
11.3.3 Products/Services Offered
11.3.4 Key Developments
11.3.5 SWOT Analysis
11.3.6 Key Strategies
11.4 TechnipFMC PLC
11.4.1 Company Overview
11.4.2 Financial Overview
11.4.3 Products/Services Offered
11.4.4 Key Developments
11.4.5 SWOT Analysis
11.4.6 Key Strategies
11.5 Subsea 7
11.5.1 Company Overview
11.5.2 Financial Overview
11.5.3 Products/Services Offered
11.5.4 Key Developments
11.5.5 SWOT Analysis
11.5.6 Key Strategies
11.6 Teledyne Technologies Incorporated
11.6.1 Company Overview
11.6.2 Financial Overview
11.6.3 Products/Services Offered
11.6.4 Key Developments
11.6.5 SWOT Analysis
11.6.6 Key Strategies
11.7 Oceaneering International, Inc.
11.7.1 Company Overview
11.7.2 Financial Overview
11.7.3 Products/Services Offered
11.7.4 Key Developments
11.7.5 SWOT Analysis
11.7.6 Key Strategies
11.8 DOF ASA
11.8.1 Company Overview
11.8.2 Financial Overview
11.8.3 Products/Services Offered
11.8.4 Key Developments
11.8.5 SWOT Analysis
11.8.6 Key Strategies
11.9 Sapura Energy Berhad
11.9.1 Company Overview
11.9.2 Financial Overview
11.9.3 Products/Services Offered
11.9.4 Key Developments
11.9.5 SWOT Analysis
11.9.6 Key Strategies
11.10 Helix ESG
11.10.1 Company Overview
11.10.2 Financial Overview
11.10.3 Products/Services Offered
11.10.4 Key Developments
11.10.5 SWOT Analysis
11.10.6 Key Strategies
12 Appendix
12.1 List of References

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