Offshore AUV & ROV Market Size, Share and Global Trend By Product(Autonomous Underwater Vehicle (AUV) & Remotely Operated Vehicle), By Propulsion(Electric System, Mechanical System, Hybrid System), By Application(Drilling and Well Completion Support, Construction Support, and others), and Regional Forecast, 2024-2032

Humanity’s dependence on fossil fuel and oil-based products continue to grow despite the developing green energy technologies and their implementation in our daily life. Therefore, to meet the demand of hydrocarbons geologist turned to offshore activities. Autonomous underwater vehicle (AUV) is untethered underwater robotic vehicle primarily used to survey seafloors before subsea infrastructures are built. The autonomous underwater vehicle has a computer on board that works with intelligent distributed control technology to steer the AUV and collect the oceanographic data.

In remotely operated vehicle a network of cables is used to establish the connection between operator and ROV i.e. it is tethered through cables. An underwater ROV is well equipped with modern technology and a lighting system with a video camera to conduct regular pipeline inspection and contribute to geology education and sea life learning.

To gain extensive insights into the market, Request for Customization

The offshore AUV and ROV market for oil and gas is classified on the basis of Product & Propulsion. ROV and AUV can be propelled by an electric system in which a battery is used to supply power whereas in mechanical system traditional internal combustion (IC) engine is used. When an electric system is coupled with a mechanical system then it is termed as a hybrid system and is used where there are strict pollution norms. According to the purpose of a wide array of application different product of AUV and ROV is employed.

AUV and ROV are equipped with modern technology to monitor the seabed, inspect oil pipeline, observe oceanography for sea learning which is expected to grow the market of AUV and ROV. It finds a broad application in defense, offshore activities, research, and airplanes crash investigation which drives the market for offshore AUV and ROV. The deepwater monitoring of seabed requires highly autonomous and advanced sensors which increase the surveillance cost which in turn restraint the growth of the offshore AUV and ROV market.

KEY PLAYERS COVERED

The leading companies in offshore ROV and AUV are Subsea 7, Fugro NV, Bluefin Robotics, Atlas Elektonik, Kongsberg Maritime, Teledyne Technologies, Birns Inc, International Submarine Engineering Ltd., DOF ASA, Stapem Offshore, Oceaneering International, Technip FMC, Deep Ocean Group, and Saipem S.p.A.

SEGMENTATION

REGIONAL ANALYSIS

The global offshore AUV and ROV market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In North America, USA is dominating the AUV and ROV market as it was first invented in the University of Washington. Countries are allocating heavy budgets for national security and developing merchant ships and submarines for monitoring subsea areas. Also, companies are heavily investing in offshore drilling activities for the exploration of hydrocarbon increasing the growth of AUV and ROV in North America. The presence of developed countries such as the UK, Russia, Italy, France, etc. in Europe along with enormous offshore exploration will increase the market of AUV and ROV in the region. The Asia Pacific has a high potential of the market due to heavy investment and strong presence among economies like India and China. China is considered as one the top manufacturer of hydrocarbon in the world and companies are extensively investing in offshore drilling to meet the market demand. India and China having the strongest defense budget allocation for securing their respective sea region which is expected the growth of the AUV and ROV market in the Asia Pacific.

KEY INDUSTRY DEVELOPMENTS

• In February 2019, Stapem offshore announced the acquisition of the Film Ocean which operates a fleet of ROV utilized in the oil and gas. The company said acquisition of Film Ocean will support the company’s long term plans for growth in the new and existing market.  


• In February 2019, Petrobras has awarded a long term contract for three ROV Support Vessels (RS) to DOF ASA.


• In January 2019, Ocean Power Technology and Saab Seaeye have made a joint agreement for development and marketing of AUV & ROV in terms of providing cost-effective power and communication solution.