The global ROV market is estimated to be $1.2 billion in 2014 and is expected to register a CAGR of 20.11% in 2019.

Amanda Coulas | May 1st, 2014

Research and Markets has announced the addition of the Global Unmanned Underwater Vehicles Market 2014-2019: ROV and AUV Vehicles for Defense, Oil and Gas & Scientific Research report to their offerings.

The market is estimated to be $457 million in 2014 and is expected to register a CAGR of 31.95% in 2019.

The global unmanned underwater vehicles (UUV) market research report includes the remotely operated vehicles (ROV) and autonomous underwater vehicles (AUV) market. This report provides the market analysis of the global UUV market over the next five years. It discusses the industry, market, and technology trends that are currently prevailing in the UUV market. The UUV categorizes the global market on the basis of type (ROV and AUV), geography, country, and application. The ROV and AUV have applications in the defense; oil and gas, and scientific research areas.

The global UUV market will exhibit a robust growth over the next five years. The global ROV market is estimated to be $1.2 billion in 2014 and is expected to register a CAGR of 20.11% in 2019.

The ROV and AUV markets are driven by the increasing need of ROV and AUV in areas such as offshore drilling; oceanographic studies; underwater inspection and maintenance; and inspection and security. With the evolution of technology, better endurance, miniaturization, and enhanced payloads, ROV and AUV are efficiently used for undersea activities. The commercialization of ROV and AUV and its increased capabilities have revolutionized their growth over the years. Offshore drilling will remain the prime sector for ROV. Defense and oceanographic studies will remain a major sector for AUV.

The Asia-Pacific, Latin American, and African regions will prove to be emerging markets for the Unmanned Underwater Vehicles. SAAB (Sweden), Fugro (The Netherlands), Oceaneering (U.S.), will be the market leaders that occupy a significant market share for ROV. Kongsberg (Norway), Teledyne (U.S.), Bluefin Robotics (U.S.), and Atlas Elekronik (Germany), will be the leaders in the AUV market.

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