Global Offshore AUV And ROV Market Size By Product (AUV, ROV), By Propulsion System (Hybrid System, Electric System), By Application (Defense, Scientific Research), By Geographic Scope And Forecast

Offshore AUV And ROV Market Size And Forecast

Offshore AUV And ROV Market size was valued at USD 2.71 Billion in 2024 and is projected to reach USD 3.75 Billion by 2031, growing at a CAGR of 5.7% during the forecast period 2024-2031.

Offshore oil and gas discoveries in various countries, navigation applications such as performing underwater surveys, as well as the increase in the demand for oil & gas, are positively affecting the Offshore AUV And ROV Market globally. The Global Offshore AUV And ROV Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Offshore AUV And ROV Market Definition

An autonomous underwater vehicle (AUV) is an unmanned, self-propelled, untethered underwater vehicle that is used to carry out simple activities with little or no human supervision. AUVs are often used as survey platforms to map out the seafloor or characterize the physical, chemical, or biological properties of the water being tested. AUVs are designed to travel underwater and can be equipped with different kinds of payloads such as cameras, sonar, bottom profilers, multibeam echo sounders, and more. AUVs are mostly used for survey operations by ocean scientists, the marine industry, and the military. On the other hand, remotely operated vehicles (ROVs) are underwater robots utilized in science, offshore oil industries, entertainment, and the military.

Their primary role is to interact with the environment to operate under the water in several ways. They are easy to operate through the water and are connected to the ship by a cluster of cables that carry electrical signs back and forth between the ROV and the operator. Most ROVs are installed with a camera and lights. In addition to this, they are equipped with additional equipment to increase their capabilities, for instance, additional equipment may include magnetometers, sonars, a still camera, water samplers, instruments, and a manipulator that helps in measuring light penetration, water clarity, temperature, and depth.

Global Offshore AUV And ROV Market Overview

Underwater vehicles have become a standard tool for data gathering for Maritime applications. have a wide range of applications in marine geoscience and as a result, they are being increasingly used in the military, scientific, commercial, and policy sectors. The ability of underwater vehicles to be able to operate autonomously makes them well-suited to the exploration of extreme environments.

As the offshore oil & gas sector has come to rely on remotely operated vehicles (ROVs) for subsea construction services and drilling support to enable deepwater exploration and expansion projects worldwide. ROVs are extensively utilized in the offshore sector from exploration drilling to decommissioning. They are required for all life of field levels in the global offshore oil & gas sector, the Offshore AUV And ROV Market, and the subsea cables industry. The underwater construction in offshore wind farms needs regular inspection, and operational costs can be decreased by the deployment of ROVs instead of human divers, and an upsurge in demand for renewable energy sources is expected to benefit the market.

AUVs require two power requirements, such as power for board instrumentation, computers, communication devices, and guidance, and power for forwarding propulsion. The power for forwarding propulsion is mostly generated from the power stored in onboard batteries. This restricts the mission life of AUVs because of physical limitations on the size and number of batteries carried onboard exist. The challenges related to the weight of used in underwater vehicles might affect the market. Also, the communication protocol of such vehicles presents a huge challenge to the market.

Global Offshore AUV And ROV MarketSegmentation Analysis

The Global Offshore AUV And ROV Market is Segmented on the basis of Product, Application, Propulsion System, and Geography.

Offshore AUV And ROV Market, By Product

• AUV
• ROV

Based on Product, the market is bifurcated into AUV and ROV. ROV accounted for the largest market share in 2019. Increasing usage of ROVs in various industries, such as search & rescue, military, marine biology, oil & gas, submerge infrastructure, and aquaculture sector along with the advancement in ROVs technologies are the factors that are expected to propel the growth of the market.

Offshore AUV And ROV Market, By Propulsion System

• Hybrid System
• Electric System
• Mechanical System

Based on Propulsion System, the market is bifurcated into Hybrid System, Electric System, and Mechanical System. The electric system accounted for the largest market share in 2019. High thrust-to-weight ratio, excellent reliability in operations, ability to fit a battery for tether-less operations, and environment friendly are some of the benefits of an electric propulsion system. Technological advancement in the AUV & ROV propulsion system, ongoing research activities on marine science, and the launch of efficient electric propulsion systems are the factors that have boosted the adoption of electric propulsion.

Offshore AUV And ROV Market, By Application

• Defense
• Scientific Research
• Oil & Gas
• Commercial
• Others

Based on Application, the market is bifurcated into Defense, Scientific Research, Oil & Gas, Commercial, and Others. Oil & Gas accounted for the largest market share in 2019. AUVs and ROVs are a fantastic choice for the oil and gas sector to explore the seabed. In oil and gas excavations, the AUVs help industries develop a detailed project plan to determine whether extraction facilities are possible in certain locations or not. In addition to this, offshore AUVs/ROVs are also frequently used in pipeline surveys to determine pipe defects, corrosion, and buckling.

Offshore AUV And ROV Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of The World

On the basis of Regional Analysis, the Global Offshore AUV And ROV Market are classified into North America, Europe, Asia Pacific, and the Rest of the world. The rest of the world dominated the Global Offshore AUV And ROV Market in 2019, followed by North America. The rest of the world includes Latin America, the Middle East, and Africa. Latin America and Middle East regions are home to a large number of oils producing countries and the increasing adoption of AUV & ROV in different oil and gas industries is a key growth driver for Offshore AUV And ROV Market in the region. Also, the rising demand for oil & gas-based products across the globe is another factor driving the market in the region.

Key Players

The “Global Offshore AUV And ROV Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as General Dynamics (Bluefin Robotics), SAAB AB, Teledyne Technologies Incorporated, Kongsberg Gruppen ASA, Oceaneering International, Inc., Fugro, Atlas Electronik GmbH.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• The company launched an autonomous unmanned underwater vehicle, Bluefin-21.
• Teledyne launched an AUV named SeaRaptor for 6000m depth.
• Kongsberg Maritime signed with Norwegian Defense Materiel Agency (NDMA).
• The agreement was meant to deliver 4 HUGIN AUV systems to NDMA.
• Fugro has announced a strategic partnership with SEA KIT International, a global provider of hi-tech solutions to maritime and research industries.
• The aim of this partnership is to develop a new range of agile and compact uncrewed surface vessels (USVs) that can deploy remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs) for marine asset inspections.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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