Press release
Remotely Operated Vehicles (ROVs) market Demand, High Growth Rate to Reach US$ 2.41 Bn. by 2030., At a CAGR of 4.59% From 2024 to 2030
Remotely Operated Vehicles (ROVs) market
The global Remotely Operated Vehicles (ROVs) market, valued at USD 2.87 billion in 2024, is projected to reach USD 3.15 billion in 2025 and soar to USD 8.91 billion by 2035, registering a compelling CAGR of 11.2 % between 2025 and 2035. The market's growth is powered by accelerating demand in offshore oil & gas, deepwater exploration, defence, and scientific research applications.
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►Competitive Landscape
The global ROV market remains fairly consolidated, with key players like Kongsberg, Teledyne Technologies Inc., Exail Technologies, Saab AB, Atlas Maridan, L3Harris Technologies, International Submarine Engineering Ltd, Oceaneering International, Inc, Hydromea, DeepOcean, and Forum Energy Technologies, Inc vying for dominance.
►Regional Insights
♦ United States - Growth Surge & Trends
Growth: The U.S. leads the North American market, driven by substantial offshore oil & gas undertakings and expanded military budgets.
Opportunity: Work-class ROVs (91-907 kg) dominate, with trenching variants rapidly gaining traction.
Trends: Wired ROVs hold the current majority, while wireless systems are gaining ground. Adoption of advanced sensors, real-time video feeds, and AI-driven control systems is escalating.
Consolidation: Major U.S. players like Oceaneering International, Inc and Teledyne Technologies Inc. are strategically acquiring niche competitors to broaden service portfolios and deepen technological capabilities.
Updation:
In March 2024, Hydromea unveiled EXRAY, an inspection ROV featuring its revolutionary wireless LUMA comms at Oceanology International, London.
December 2022 saw DeepOcean and Akvaplan‐Niva teaming up in a collaboration to leverage ROV and USV use for environmental offshore assessments .
Asia Pacific - Opportunity Expansion & Consolidation
Growth: Asia Pacific holds the largest regional market share for ROVs .
Opportunity: Nations like China, India, Japan, South Korea, and Australia are boosting investment in ROVs for subsea research, offshore drilling, and naval use .
Trends: Rapid technological innovation-high-definition imaging, tethered/wireless hybrid systems, and modular payloads-are gaining momentum.
Consolidation:
In April 2023, Forum Energy Technologies secured a contract via Unique Group to deliver light work-class ROVs for a leading Asian navy .
Updation: Growth in wireless and lightweight inspection-class systems tailored to address rising maritime security and offshore drilling demands.
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Middle East & Africa - Opportunity & Trends
Growth: Middle East & African markets are expanding due to ongoing offshore oil & gas exploration .
Opportunity: Countries such as UAE, Saudi Arabia, and Israel are actively deploying ROVs for infrastructure inspection and maintenance.
Trends: Adoption of wireless inspection ROVs, integrated sonar, and high-resolution cameras for efficient long-distance offshore utility tasks.
Consolidation: Local service firms like Fugro, Rovco, and ROV Services Australia are ramping up presence via partnerships and infrastructure investments.
Updation: Enhanced cross-border collaboration leveraging ROV technology for offshore energy projects.
Europe - Opportunity & Consolidation
Growth: Europe's ROV market is propelled by deepwater oil & gas projects and offshore wind infrastructure.
Opportunity: Nations including the UK, Norway, France, and Germany are deploying trenching and heavy work-class ROVs for subsea cable laying and pipeline inspections.
Trends: Integration of AI and real-time analytics in ROV fleets is on the rise.
Consolidation: Partnerships between DeepOcean, Hydromea, and International Submarine Engineering Ltd are intensifying to co-develop next-generation ROV tech.
Updation: Belarusian-based Hydromea introduced EXRAY with wireless comms for streamlined asset inspection .
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► Market Segmentation: In-Depth Analysis:
by Industry
Oil & Gas Industry
Scientific Research
Military & Defense
Others
by System Component
Imaging System
Sensors and Automation Systems
Steering and Positioning
Navigation System
Energy and Propulsion
Others
by Vehicle Type
Observation Vehicle
Light Work Class Vehicle
Medium Work Class Vehicle
Heavy Work Class Vehicle
Towed and Bottom-Crawling Vehicle
by Propulsion System
Hydraulic system
Electric system
Others
by Application
Drilling Support
Construction Support
Inspection, Repair and Maintenance (IRM)
Others
For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/global-remotely-operated-vehicles-rovs-market/54280/
► Learn about the top players driving innovation in the Market :
1. Andrews Survey
2. C-Innovation
3. DOF Subsea AS
4. Forum Energy Technologies
5. Fugro Subsea Services Ltd
6. Hallin Marine Subsea International PLC
7. Helix Energy Solutions
8. I-Tech (Subsea 7)
9. Kystdesign AS
10. Oceaneering International, Inc.
11. Perry Slingsby Systems Limited
12. SAAB SEAEYE LTD.
13. Saipem (Sonsub)
14. Schilling Robotics, LLC
15. Soil Machine Dynamics Ltd (SMD)
16. IKM Gruppen AS
17. ECA GROUP
18. Sea Robotics
19. Innova
20. ROVCO
21. The Whale Inc.
22. Teledyne Technologies International Corp.
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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