North America AUV and ROV Market Size (2024 - 2029)

The North America AUV and ROV market is experiencing growth, driven by factors such as increased offshore oil and gas discoveries, expanding offshore wind energy installations, and rising oil and gas decommissioning activities. Despite challenges posed by environmental concerns leading to bans on offshore exploration in the region, technological advancements in the AUV and ROV sectors are anticipated to offer significant opportunities. The United States is expected to lead the market due to its substantial investments in defense and research and development related to AUVs and ROVs, as well as other offshore industries like oil and gas and shipping.

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Market Size of North America AUV and ROV Industry

North America AUV and ROV Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 7.13 %
Market Concentration Low

Major Players

North America AUV and ROV Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America AUV & ROV Market Analysis

The North America AUV and ROV Market size was estimated at about USD 482.61 million by the end of this year and is projected to register at a CAGR of about 7.13% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Presently, the market has now reached pre-pandemic levels.

  • Over the long term, the major driving factors of the market are increasing offshore oil and gas discoveries, growing offshore wind energy installations, and rising oil and gas decommissioning activities.
  • On the flip side, increasing environmental damage due to increasing use of fossil fuels has let to ban of offshore exploration of oil and gas in North American region is expected to slow down the market during the forecast period.
  • Nevertheless, technological advancements in the AUV and ROV market are expected to create huge opportunities for the North America region soon.
  • United States is expected to dominate the AUV and ROV market in North America as the country heavily invested in defence sector and in the R&D of AUVs and ROVs, other related offshore sectors such oil and gas, shipping, etc.

North America AUV & ROV Industry Segmentation

Remotely-operated underwater vehicles (ROVs) are robots that complete functions underwater on behalf of a crew located on the surface, with whom the ROV is tethered. An automated underwater vehicle (AUV) is a self-propelled, unmanned underwater vehicle capable of carrying out simple activities with little or no human supervision. AUVs are robotic vehicles that are pre-programmed with operation parameters and then deployed into the ocean or seafloor. An AUV operates individually without any cable connections, whereas a Remotely operated Vehicle (ROV) is connected to an operator, usually in the ship from which the ROVs are deployed. The North America AUV and ROV market is segmented by vehicle type, vehicle class, application, activity, and geography. By vehicle type, the market is segmented into AUV and ROV. By vehicle class, the market is segmented into work-class vehicle and observatory-class vehicle. By application, the market is segmented into oil and gas, defense, and other applications. By activity, the market is segmented into drilling and development, construction, inspection, repair, and maintenance, decommissioning, and other activities. The report also covers the market size and forecasts for the AUV and ROV market across major countries in North Amercian region. For each segment, the market sizing and forecasts have been done based on revenue (USD Million).

Vehicle Type
ROV
AUV
Vehicle Class
Work-class Vehicle
Observatory-class Vehicle
Application
Oil and Gas
Defense
Other Applications
Activity
Drilling and Development
Construction
Inspection, Repair, and Maintenance
Decommissioning
Other Activities
Geography
United States
Canada
Rest of North America
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North America AUV and ROV Market Size Summary

The North America AUV and ROV market is experiencing a resurgence, having recovered to pre-pandemic levels after the setbacks caused by COVID-19. The market is driven by factors such as increased offshore oil and gas discoveries, the expansion of offshore wind energy installations, and the rising need for oil and gas decommissioning activities. However, environmental concerns and bans on offshore exploration due to fossil fuel usage pose challenges to market growth. Technological advancements in AUV and ROV systems are expected to offer significant opportunities, with the United States leading the charge due to its substantial investments in defense and related offshore sectors. The market is characterized by a fragmented landscape with key players like Subsea 7 SA, TechnipFMC PLC, and others playing pivotal roles.

The inspection, repair, and maintenance (IRM) segment is poised for significant growth, driven by the need to monitor and maintain aging offshore infrastructure, particularly in the United States and the Gulf of Mexico. Despite past declines in ROV utilization rates, the IRM segment remains resilient due to its necessity regardless of oil price volatility. The Gulf of Mexico, a hotspot for AUV and ROV demand, benefits from the high density of offshore rig deployments and extensive oil and gas infrastructure. The affordability of ROV and AUV technology has encouraged oil and gas producers to invest in these services for efficient data collection and maintenance, leading to numerous contracts being awarded by major companies. This trend underscores the United States' dominance in the North American AUV and ROV market, supported by ongoing technological innovations and strategic investments.

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North America AUV and ROV Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD million, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Vehicle Type

      1. 2.1.1 ROV

      2. 2.1.2 AUV

    2. 2.2 Vehicle Class

      1. 2.2.1 Work-class Vehicle

      2. 2.2.2 Observatory-class Vehicle

    3. 2.3 Application

      1. 2.3.1 Oil and Gas

      2. 2.3.2 Defense

      3. 2.3.3 Other Applications

    4. 2.4 Activity

      1. 2.4.1 Drilling and Development

      2. 2.4.2 Construction

      3. 2.4.3 Inspection, Repair, and Maintenance

      4. 2.4.4 Decommissioning

      5. 2.4.5 Other Activities

    5. 2.5 Geography

      1. 2.5.1 United States

      2. 2.5.2 Canada

      3. 2.5.3 Rest of North America

North America AUV and ROV Market Size FAQs

The North America AUV and ROV Market is projected to register a CAGR of 7.13% during the forecast period (2024-2029)

Fugro NV, TechnipFMC PLC, Subsea 7 SA, Helix Energy Solutions Group and DeepOcean AS are the major companies operating in the North America AUV and ROV Market.

North America AUV and ROV Report Snapshots

North America AUV and ROV Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)