Global Underwater Exploration Robots Market 2017-2021
About Underwater Exploration Robots
Underwater exploration robots consist of unmanned underwater vehicles, such as ROVs (remotely operated vehicles) and AUVs (autonomous underwater vehicles), which are employed by various industries for exploration tasks. USVs are also known as autonomous surface vehicles (ASVs). They can be operated through remote control, or are autonomous or semi-autonomous. These vehicles are pre-programmed to perform certain tasks. Vendors that traditionally deal with unmanned underwater vehicles, unmanned ground vehicles, and unmanned aerial vehicles are expanding their scope to provide unmanned surface vehicles.
Technavio’s analysts forecast the global underwater exploration robots market to grow at a CAGR of 13.92 % during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global underwater exploration robots market for 2017-2021. To calculate the market size, the report considers the revenue generated from sales of underwater exploration robots and the operational spending of vendors operating them. For market sizing, the period 2017-2021 has been considered, keeping 2016 as the base year.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Underwater Exploration Robots Market 2017-2021
Technavio recognizes the following companies as the key players in the global underwater exploration robots market: ATLAS MARIDAN, Forum Energy Technologies, Kongsberg Maritime, Oceaneering, and Subsea 7.
Other Prominent Vendors in the market are: Boston Engineering, C-Innovation, DeepOcean, DOF Subsea, FMC Technologies, Fugro, General Dynamics Mission Systems, Hallin Marine Subsea International, Helix Energy Solutions, Kystdesign, Ocean Aero, Palmarii Dynamics, Raytheon Company, Saab Seaeye, Saipem, Soil Machine Dynamics (SMD), TechnipFMC, Teledyne Technologies, and Boeing.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is emergence of swarm intelligence. Vendors in the market are working on innovations that can allow collaboration between different types of unmanned vehicles, to attain efficiency in transportation, deployment, support, and recovery of unmanned underwater vehicles (UUVs).”
According to the report, one of the major drivers for this market is increasing offshore E&P programs. There is an increasing need for exploring petroleum-based energy sources by the oil and gas industry, which has propelled the demand for technologies suitable for hostile offshore and subsea environments. The demand for underwater exploration robots for such environments is high, as they are hard to reach and require advanced hardware and software to operate. Another major reason for their demand is the several serious challenges to health, safety, and environment (HSE), which are involved in E&P activities.
Further, the report states that one of the major factors hindering the growth of this market is regulations and legislations. With the recent global oil crisis that ensued due to the decline in oil prices, there has been an increase in environmental concerns regarding the operations and practices of the oil and gas industry. The past few years have seen governing bodies enact legislations that limit offshore drilling in certain regions. If more laws and regulations are implemented, vendors and operators in the market will see a considerable slump in demand for underwater exploration robots.
ATLAS MARIDAN, Forum Energy Technologies, Kongsberg Maritime, Oceaneering, Subsea 7, Boston Engineering, C-Innovation, DeepOcean, DOF Subsea, FMC Technologies, Fugro, General Dynamics Mission Systems, Hallin Marine Subsea International, Helix Energy Solutions, Kystdesign, Ocean Aero, Palmarii Dynamics, Raytheon Company, Saab Seaeye, Saipem, Soil Machine Dynamics (SMD), TechnipFMC, Teledyne Technologies, and Boeing.