ROVs (Remotely Operated Vehicles) are used in exploring oceans and underwaters without going in the water. These robots are controlled by people on the surface vessel through joysticks. Electric signals are set back and forth through cables or tethers from the operator to the vehicle and vice versa. These robots are equipped with lights, cameras to transmit photos and videos back to the vessel. Few advanced ROVs have water samplers, cutting arms, manipulators that help in getting samples from the field. Initially what was used for industrial purposes are now mainly used for scientific purposes. They are increasingly resourceful in ocean exploratory drives and also in aquariums as educational programs by linking them to scientific expeditions. Earlier, when many exploratory programs were conducted by humans, they often posed threat to safety which is now eliminated by these robots. These operations are much simpler and safer than other type of occupied – submersible operations.
The market is expected to witness high growth due to increase in defense expenditure and investment in oil and gas exploration. This has led to new underwater exploration which are equipped to bring samples for further investigation. In defense, these robots give higher visibility underwater and thus countries are investing in upgrading monitoring systems. However, these robots are cost – efficient and is the major market deterrent. Despite this, since technology is slowly stepping into defense forces, the market for ROVs are steered in the right direction.
Ken Research’s Global Remotely Operated Vehicle (ROV) Market 2017-2025 by Industry Vertical, Application, Hardware Component, Vehicle Type, Propulsion System and Region gives a detailed analysis on the global market for remotely operated vehicles. The report also covers current competitive scenario and the predicted manufacture trend; and profiles global ROV vendors including market leaders and important emerging players. Specifically, potential risks associated with investing in global ROVs market are assayed quantitatively and qualitatively through GMD’s Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions. The top market players are Andrews Survey, C-Innovation, DOF Subsea AS, 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 and Soil Machine Dynamics Ltd (SMD).
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Ankur Gupta, Head Marketing & Communications