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Observation Mini ROVs Market Size, Scope Analysis, Key Insights, Leading Key Players, And Forecast To 2033
Observation Mini ROVs Market Size
As per the report, the observation mini rovs market size has grown strongly in recent years. It will grow from $11.39 billion in 2023 to $12.07 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The observation mini rovs market size is expected to see strong growth in the next few years. It will grow to $14.92 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
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Rising Investments In Unmanned Aerial Vehicles Propel Growth Of Observation Mini Rovs Market
The increasing investments in unmanned aerial vehicles are expected to propel the growth of the observation mini ROVs market going forward. Unmanned Aerial Vehicles (UAVs), also known as drones, are aircraft that operate without an onboard human pilot and are controlled remotely by a human operator. Unmanned underwater drones provide visual underwater inspections, inspections of freshwater tanks, reservoir inspections, and pipeline inspections, which are crucial purposes to be served using observation mini ROVs. For instance, in March 2023, according to BC Gov News, a Canada-based British government news release, Open Sea Robotics, a UK-based marine robotics company, received $1.75 million to create unmanned, solar-powered surface vehicles with sensors, cameras, and communication equipment that can gather data from any location on the ocean. Furthermore, according to Drone Industry Insights, a Germany-based analytics firm, the global drone industry investment increased from $2.43 billion in 2021 to $7.91 billion in 2022. Therefore, the increasing investments in unmanned aerial vehicles are driving the growth of the observation mini ROVs market.
Pioneering Product Innovations In The Observation Mini Rov Market
Product innovations are a key trend gaining popularity in the observation mini ROV market. Major companies operating in the observation mini-ROV market are adopting new technologies to sustain their position in the market. For instance, in October 2021, ECA Group, a France-based aerospace and defense company, launched R7-based ROVs (remotely operated vehicles) for the Observation Mini ROV. The R7 combines the deployment ease of mini-ROVs and compactness with professional observation-class ROVs' speed, performance, and payload-carrying capacity. The R7 incorporates digital technology and facilitates navigation in difficult visibility conditions with a very high-sensitivity wide-angle video sensor equipped with the R7's navigation camera. This is developed for oceanographers, hydrographers, fish farmers, and managers of submerged structures for all underwater operations up to 300 meters, including inspection, observation, surveillance, maintenance, and object recovery.
The observation mini rovs market covered in this report is segmented -
1) By Type: Micro Observation ROV, Mini Observation ROV
2) By Payload: Light Payload, Heavy Payload
3) By Application: Oil and Gas Industry, Military and Defense, Scientific Research, Other Applications
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Major companies operating in the observation mini rovs market report are Teledyne SeaBotix Incorporated, VideoRay LLC, Saab Seaeye, International Submarine Engineering Ltd., Ocean Modules Sweden AB, 2G Robotics Inc., Blue Robotics Inc., Deep Trekker Inc., MarineNav Ltd., Outland Technology Inc., Blueye Robotics, Argus Remote Systems AS, SEAMOR Marine Ltd., Subsea Tech LLP, Shark Marine Technologies Inc., Aquabotix Corporation, AC-CESS, CISCREA SAS, JW Fishers Mfg, ROBOSEA, Boxfish Research Limited, Gnom ROV, OpenROV, Hydromea SA, Qysea
Contents of the report:
1. Executive Summary
2. Observation Mini ROVs Market Report Structure
3. Observation Mini ROVs Market Trends And Strategies
4. Observation Mini ROVs Market - Macro Economic Scenario
5. Observation Mini ROVs Market Size And Growth
…..
27. Observation Mini ROVs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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