ALBANY, New York, October 23, 2017 /PRNewswire/ --
"The ever-increasing demand for oil and gas has led to the
continual rise in offshore oil and gas activities in recent years,
says a TMR analyst. Due to the nearing exhaustion of near-shore and
onshore reserves, the exploration of deep water reserves has become
a necessity. This, however, requires employing high technology to
explore oil and gas reserves that are buried thousands of meters
deep on the ocean floor. This is increasingly leading to employing
remotely operated vehicles (ROV), wherein operations of unoccupied
underwater robots are controlled by an operator via a series of
cables," adds the analyst. Regarding the physical component, ROV
system comprises vehicle, deck unit, tether management system,
handbox controller, laptop computer, and video display. Video
camera, lights, sonar system, and an articulating arm are the
components that define the technical configuration of an ROV.
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According to a report by TMR, the global AUV and ROV market is
estimated to expand at an impressive 18.2% CAGR vis-à-vis for the
forecast period between 2017 and 2025. At this pace, the market
will reach a valuation of US$9117.01
mn by the end of 2025 increasing from US$2065.56 mn in 2016. On the basis of product,
ROV segment holds the leading market share over the AUV product
segment. Geography-wise, the Middle
East and Africa holds
dominance accounting for the leading revenue contribution to the
overall market.
Safety Alerts for Navigation Systems of Marine Vehicles Boost
Deployment of AUVs
The rising threat of marine attacks and incidence of marine
infiltration has encouraged the defense forces to gather
intelligence and enhance security measures to combat these
situations. This has led to the increasing deployment of autonomous
underwater vehicles (AUV) that can send signals remotely to alert
defense personnel in the event of suspicious activities. AOVs are
programmable, robotic vehicles that can drive, drift, or glide
through the ocean and can perform predetermined tasks without the
control of human controllers.
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Apart from this, AUVs also find extensive application in
navigation applications. AUVs are capable of performing underwater
surveys such as detecting and mapping submerged rocks, wrecks, and
obstructions to alert the navigation systems of commercial,
recreational, and defense vessels. Sans operator intervention, AUV
returns to the point of origin on completion of a mission following
which collected data can be downloaded and processed in the same
manner as data collected by shipboard systems.
The need to study the impact of environmental factors such as
global warming on marine resources and marine life is also driving
the offshore AUV and ROV market. AUVs and ROVs have the capability
to collect data from the ocean floor for environmental scientists
to conduct marine research.
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However, the technologically advanced nature of AUVs over ROVs
account for the high-reliability factor of the former. This
accounts for their high development and maintenance costs over
ROVs.
In a largely consolidated and competitive global offshore AUV
and ROV market dominated by well-entrenched players, technological
innovation is what key vendors are vying for to steal a march on
their competitors, says Transparency Market Research (TMR) in a new
report.
Global Offshore AUV & ROV Market Report is available @
US$ 5795
Key participants in the global offshore AUV and ROV market
include Subsea 7 Inc., SAAB AB, Fugro NV, Ocean Engineering Ltd.,
Bluefin Robotics, Atlas Electronik GmbH, Kongsberg Maritime,
Teledyne Technologies LLC, BIRNS INC., International Submarine
Engineering Ltd., Schilling Robotics LLC, and Oceaneering
International Inc.
About TMR
Transparency Market Research (TMR) is a global market
intelligence company providing business information reports and
services. The company's exclusive blend of quantitative forecasting
and trend analysis provides forward-looking insight for thousands
of decision makers. TMR's experienced team of analysts,
researchers, and consultants use proprietary data sources and
various tools and techniques to gather and analyze information.
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