PUNE, India, June 21, 2019 (GLOBE NEWSWIRE) -- Global Remotely Operated Vehicle Industry Analysis By Industry Vertical (Oil & Gas Industry, Scientific Research, Military & Defense), By propulsion system (Hydraulic system, Electric system), By Capex Source (ROV New Builds, ROV Operation & Service), By Component, By Application, By Vehicle Type, and By Region - Global Market Opportunity and Current Growth Analysis 2019-2025
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.
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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.
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.
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