Global Remotely Operated Vehicle (ROV) Market Overview
The Remotely Operated Vehicle (ROV) Market size was valued at USD 2,872.3 Million in 2024. The Remotely Operated Vehicle (ROV) Market industry is projected to grow from USD 3,151,5 Million in 2025 to USD 8,910.2 Million by 2035, exhibiting a compound annual growth rate (CAGR) of 11.2 % during the forecast period (2025-2035).
The increase in demand for ROVS for oil and gas industry and increase in demand for deepwater exploration and development projects and increasing military spending are driving the growth of the Remotely Operated Vehicle (ROV) Market.
As per the Analyst at MRFR, the need for driving demand in the oil and gas industry for Remotely Operated Vehicles has become mature. Most of the remaining oil and gas are in complex environments, requiring access at deep underwater or offshore locations that cannot easily be accessed by traditional means through human divers. The depth of ROVs enables them to reach depths and conditions inaccessibly practicable by humans.
Exploration and production activities are experiencing a rebound in the oil and gas industry. High global energy consumption increases on the heels increases with incentives from the increased prices of oil as an opportunity to invest in offshore drilling with new fields. In this regard, ROVs play a crucial role, supporting everything from drilling support to installation, inspection, maintenance, and repair (IMR) of subsea infrastructure. They add to operational efficiency, making it possible to perform complex operations remotely and thus significantly lowering the risk and cost elements associated with manned operations.
The advancement in ROV Vehicle Class has expanded their use and capabilities, and now they can be used to perform intricate tasks such as underwater repairs and installations. The latest ROVs are provided with advanced sensors and tools, allowing real-time data transmission and high-definition video feeds. This is what has made ROVs an essential tool for maintaining the integrity and safety of subsea operations, especially in harsh environments where visibility is poor and conditions are unpredictable.
FIGURE 1: REMOTELY OPERATED VEHICLE (ROV) MARKET VALUE (2019-2035) USD MILLION
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Remotely Operated Vehicle (ROV) Market Opportunity
TECHNICAL ADVANCEMENTS IN SENSORS AND IMAGING SYSTEMS
Because of the abundance of minerals and other critical resources, underwater research has acquired great traction in recent years. Modern electronic oceanography tools have enabled researchers to explore deep into the ocean and see the deepest depths. Electronic devices with low-power, precise, and delicate sensors collect essential data, allowing researchers to measure and record the deep-sea environment and tidal data. At present underwater robots can dive and navigate up to 6,000 meters in depth from the seabed.
However, to conduct deep-sea research explorations, highly advanced sensors and imaging systems are required. This has created opportunities for the manufacturers of underwater robots to develop and incorporate highly advanced sensor modules and imaging systems in their devices. The common types of sensors used in underwater robotics are as follows:
- A compass (gyrocompass or magnetic) estimates magnetic north.
- The inertial measurement unit (IMU) measures the vehicle's linear acceleration and angular velocity.
- Water pressure and depth are measured via the depth sensor.
- Forward-looking sonar identifies the existence of obstructions as well as the distance from the seafloor.
- Estimates of vehicle velocity are relative to the seafloor and relative water motion from Doppler velocity logs (DVLs).
- A global positioning system (GPS) is a navigation system that uses satellites to determine the location of a vehicle.
- Acoustic positioning - uses acoustics to establish the vehicle's position.
- Vision systems (cameras) perform activities such as pipeline visual tracking, station keeping, visual serving, and picture mosaicking.
Several considerations need to be considered while building these sensors and modules, including the corrosive nature of seawater, biofouling, limited energy resource module, pressure-resistant enclosure, data transfer reliability, and dynamic nature of the ocean. Furthermore, MEMS-based sensors are being substituted with current sensor modules to reduce the cost of underwater robots and the energy necessary to operate them. To build and integrate such sensors, however, additional quality checks and certifications from local and international certifying bodies would be required. As a result, advances in sensors and imaging systems are projected to generate many chances for the worldwide underwater robots’ market to grow soon.
Remotely Operated Vehicle (ROV) Market Segment Insights
Remotely Operated Vehicle (ROV) System by Vehicle Class Insights
Based on by Product Type, this segment includes Class I - Observation ROVS, Class II- Observation ROVS with Payload Option, Class III-Work-Class Vehicles (General Work-Class ROVs, Trenching ROVs, Others), Class IV-Towed and Bottom-Crawling Vehicles and Class V-Prototype or Development Vehicles. The Class III—Work-Class Vehicles segment dominated the global market in 2024, while the Class III—Work-Class Vehicles (Trenching ROVs) is projected to be the fastest–growing segment during the forecast period. Class II Observation ROVs add functionality to Class I vehicles as they include options for payloads, which increases the available tools and instrumentation.
The core function remains within visual inspection but allows an operator the ability to provide basic manipulative tasks of sample collection and environmental monitoring, among other duties. The enhanced cameras and sensors in these systems take in more detailed data than those previously available, making them better for marine research, underwater archaeology, and infrastructure inspection. Payload options are made flexible, which allows customization of the ROV based on specific missions, improving its utility in various underwater scenarios.
Remotely Operated Vehicle (ROV) System by Type Insights
Based on Type, this segment includes Wired ROV, Wireless ROV. The Wired ROV segment dominated the global market in 2024, while the Wireless ROV is projected to be the fastest–growing segment during the forecast period. Wired Remotely Operated Vehicles are tethered systems that have a connection to a surface control unit through a cable. It provides a sure source of communication and power supply. The connection will enable real-time control and data transmission, making it suitable for deep-sea exploration and industrial applications where consistency in performance is very important.
The tether usually has multiple conductors for video, data, and power to ensure uninterrupted operation. However, reliance on a cable is restrictive in terms of mobility and accessibility in the deep seafloor environment. Despite this, piped ROVs are preferred for their stability and high-bandwidth support across great depths.
Remotely Operated Vehicle (ROV) System by Weight Insights
Based on Weight, this segment includes Up to 90 Kg, 91-907 Kg and above 907 Kg. The 91-907 Kg segment dominated the global market in 2024, while it is projected to be the fastest–growing segment during the forecast period. The 91 to 907 kg ROVs are multi-purpose and heavy-duty for use in more demanding subsea operations. These units fall into the medium depth, such as underwater inspection, maintenance of offshore structure, and marine surveys, as they can accommodate added Vehicle Class such as high-definition cameras, sonar system, and manipulator capabilities to execute complex operations.
This balance between portability and capability allows ROVs to find a home in various commercial industries, such as oil and gas, marine research, and underwater construction where reliability and performance are most crucial.
FIGURE 2: REMOTELY OPERATED VEHICLE (ROV) MARKET SHARE BY WEIGHT 2024 AND 2035 (USD MILLION)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Remotely Operated Vehicle (ROV) System by Depth Capacity Insights
Based on Depth Capacity, this segment includes Less than 1000 Mts, 1000 Mts to 5000 Mts and more than 5000 Mts. The 1000 Mts to 5000 Mts segment dominated the global market in 2024, while it is projected to be the fastest–growing segment during the forecast period. ROVs capable of operating between 1000 and 5000 meters are increasingly in demand due to their suitability for deeper offshore activities.
These vehicles are equipped with advanced Vehicle Class, including enhanced navigation systems and high-resolution cameras, making them essential for tasks such as subsea inspections, pipeline monitoring, and scientific research. Their robust construction ensures reliability in challenging conditions, and they often feature specialized tools for complex interventions. As industries expand their exploration efforts into deeper waters, the need for ROVs in this depth range is expected to grow, driving technological innovations and operational efficiencies.
Remotely Operated Vehicle (ROV) System by Application Insights
Based on Application, this segment includes Oil & Gas (Drilling Support, Construction Support, Inspection, Repair and Maintenance (IRM), Others), Defense & Security (Explosive Ordnance Disposal (EOD), Hull Inspections, Ballast Tank Inspections, Search and Rescue Operations), Scientific & Academic Research, Others. The Oil & Gas segment dominated the global market in 2024, while Defense & Security (Hull Inspections) is projected to be the fastest–growing segment during the forecast period. The importance of ROVs to the oil and gas industry can never be understated because, without them, improvement of drilling operations to more efficient safety would be almost impossible.
Drilling Support is able to facilitate ROV operations with support from drilling equipment with live feeds for enhanced efficiency during actual drilling processes. Construction Support ROV helps lay down pipelines and establish subsea structures or performs the necessary surveys on how complex underwater construction jobs should be simplified. Subsea infrastructure integrity would depend on Inspection, Repair, and Maintenance, while ROVs would inspect pipelines and platforms regularly and carry out repairs. Some of the other applications within this segment are environmental monitoring and emergency response, and both are examples of the way ROVs can help in keeping operations safe and compliant.
Remotely Operated Vehicle (ROV) System Regional Insights
Based on the Region, the global Remotely Operated Vehicle (ROV) are segmented into North America, Europe, Asia-Pacific, Middle East & Africa, South and Central America. Major demand factors driving the North American market are the increase in demand for ROVS for oil and gas industry and increase in demand for deepwater exploration and development projects and increasing military spending. The Asia-Pacific region offers a growth opportunity market for unmanned underwater vehicles. With increasing defense budgets, heightened maritime security concerns, and reduced costs by the development of underwater Vehicle Class, prospects for the ROV market in the Asia-Pacific region are looking bright across the forecast period.
Countries such as China, Japan, South Korea, and Australia are making huge investments in developing and inducting ROVs for a variety of applications including oceanic exploration, marine research, and naval operations. The market comprises a wide range of platforms in ROVs, from small man-portable systems to large, long-endurance vehicles. As regional powers work towards increasing their maritime capabilities, demand for advanced ROV solutions will only continue to increase—hence, the Asia-Pacific will turn into a strategic battleground between ROV manufacturers and Vehicle Class providers.
FIGURE 3: REMOTELY OPERATED VEHICLE (ROV) MARKET VALUE BY REGION 2024 AND 2035 (USD MILLION)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Further, the countries considered in the scope of the Application Tracking System Market are the US, Canada, Mexico, Germany, France, the UK, Russia, Norway, China, Japan, India, South Korea, Australia, Indonesia, UAE, South Arabia, Israel, Brazil, Argentina, Chile, Colombia and others.
Global Remotely Operated Vehicle (ROV) Key Market Players & Competitive Insights
Many global, regional, and local vendors characterize the Remotely Operated Vehicle (ROV) Market. The market is highly competitive, with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and government regulations. Vendors must provide cost-efficient, high-quality products to survive and succeed in an intensely competitive market.
The major players in the market include Kongsberg, Teledyne Technologies Incorporated, Exail Technologies, Saab Ab, Atlas Maridan, L3Harris Technologies, International Submarine Engineering Limited, Oceaneering International, Inc, Hydromea, Advanced Navigation, DeepOcean, Forum Energy Technologies, Inc, Total Marine Vehicle Class Pty Ltd, Soil Machine Dynamics Ltd, Shandong Future Robot Co. Ltd are among others. The Remotely Operated Vehicle (ROV) Market is a consolidated market due to increasing competition, acquisitions, mergers and other strategic market developments and decisions to improve operational effectiveness.
Key Companies in the Remotely Operated Vehicle (ROV) Market include
- Teledyne Technologies Incorporated
- International Submarine Engineering Limited
- Oceaneering International, Inc
- Forum Energy Technologies, Inc
- Total Marine Vehicle Class Pty Ltd
- Soil Machine Dynamics Ltd
- Shandong Future Robot Co. Ltd
Remotely Operated Vehicle (ROV) Market Industry Developments
March 2024: Hydromea, an industry leader in high-speed subsea communications and portable underwater inspection robotics, introduced EXRAY - an advanced underwater inspection ROV with proprietary LUMA wireless Vehicle Class - at Oceanology International in London. The LUMA system enhances efficiency and speed for inspection and monitoring of submerged assets, transforming the landscape of underwater operations.
December 2022: DeepOcean and Akvaplan-Niva have signed a collaboration agreement addressing the prospective use of remotely operated vehicles (ROVs) and unmanned glider vehicles (USVs) to conduct environmental studies for offshore wind and oil and gas developments.
April 2023: Unique Group has contracted Forum Energy Technologies (FET) to provide two light work-class remotely operated vehicles (ROVs) to support its contract with a significant Asian Navy.
January 2021: International Submarine Engineering Ltd. Announced that they have completed the second stage of the autonomous dock prototype project. This project is a joint project between Dalhousie University and International Submarine Engineering Ltd.
Remotely Operated Vehicle (ROV) Market Segmentation
Remotely Operated Vehicle (ROV) by Product Outlook
- Class I - Observation ROVS
- Class II- Observation ROVS with Payload Option
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Class III-Work-Class Vehicles
- Class IV-Towed and Bottom-Crawling Vehicles
Remotely Operated Vehicle (ROV) by Type Outlook
Remotely Operated Vehicle (ROV) by Weight Outlook
Remotely Operated Vehicle (ROV) by Depth Capacity Outlook
Remotely Operated Vehicle (ROV) by Application Outlook
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Oil & Gas
- Repair and Maintenance (IRM)
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Defense & Security
- Explosive Ordnance Disposal (EOD)
- Search and Rescue Operations
- Scientific & Academic Research
Remotely Operated Vehicle (ROV) Regional Outlook
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South and Central America
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Report Attribute/Metric
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Details
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Market Size 2024
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USD 2,872.3million
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Market Size 2025
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USD 3,151.5 million
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Market Size 2035
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USD 8,910.2 million
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Compound Annual Growth Rate (CAGR)
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11.2% (2025-2035)
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Base Year
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2024
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Forecast Period
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2025-2035
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Historical Data
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2019-2023
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Forecast Units
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Value (USD Million)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Segments Covered
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By Vehicle, By Type, By Weight, By Depth Capacity, By Application
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Geographies Covered
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North America, Europe, Asia Pacific, Middle East and Africa, South and Central America
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Countries Covered
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US, Canada, Mexico, Germany, France, the UK, Russia, Norway, China, Japan, India, South Korea, Australia, Indonesia, UAE, South Arabia, Israel, Brazil, Argentina, Chile, Colombia
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Key Companies Profiled
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Kongsberg, Teledyne Technologies Incorporated, Exail Technologies, Saab Ab, Atlas Maridan, L3Harris Technologies, International Submarine Engineering Limited, Oceaneering International, Inc, Hydromea, Advanced Navigation, DeepOcean, Forum Energy Technologies, Inc, Total Marine Vehicle Class Pty Ltd, Soil Machine Dynamics Ltd, Shandong Future Robot Co. Ltd
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Key Market Opportunities
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· Technical advancements in sensors and imaging systems
· Increasing demand from commercial sectors
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Key Market Dynamics
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· Increase in demand for ROVS for oil and gas industry
· Increase in demand for deepwater exploration and development projects
· Increasing military spending
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Frequently Asked Questions (FAQ) :
USD 2,872.3 million is the Remotely Operated Vehicle (ROV) Market in 2024
The Class III—Work-Class Vehicles (Trenching ROVs) segment by material holds the largest market share and grows at a CAGR of 11.8 % during the forecast period.
Asia Pacific holds the largest market share in the Global Remotely Operated Vehicle (ROV) Market.
Kongsberg, Teledyne Technologies Incorporated, Exail Technologies, Saab Ab, Atlas Maridan, L3Harris Technologies, International Submarine Engineering Limited, Oceaneering International, Inc, Hydromea, Advanced Navigation, DeepOcean, Forum Energy Technologies, Inc, Total Marine Vehicle Class Pty Ltd, Soil Machine Dynamics Ltd, Shandong Future Robot Co. Ltd are the prominent players in the Global Remotely Operated Vehicle (ROV) Market.
Wired ROV type dominated the market in 2024.
