ROV operations expenditures to grow to $1.5 billion by 2017

by Frank Tobe

24 March 2014

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Douglas-Westwood, an energy research group, says (in their $5,000 World ROV Operations Market Forecast 2013-2017 report), that ROV operations expenditures will grow 80% over the next 5 years.

75% of the ROV vehicles are used as work-class vehicles; the remainder are for inspection.
The combined purchase and operations expenditures over those years will be $9.7 billion.
Insight into those numbers provided by Unmanned Vehicle Systems Consulting said that global ROV sales in 2010 were $850 million of which 50% were for energy use; 25% for defense and security and 25% for scientific research.
Further, roughly 20% of the vehicles were autonomous underwater vehicles (AUVs); the rest were ROVs (remotely operated vehicles).

tags: AUV, c-Business-Finance, cx-Industrial-Automation, cx-Mapping-Surveillance, cx-Military-Defense, ROV

Frank Tobe is the owner and publisher of The Robot Report, and is also a panel member for Robohub's Robotics by Invitation series.

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