ROV support market to double

Hydro International - 

Strong growth in demand for ROV support of offshore operations is anticipated over the forecast period 2011-2015, driven by a significant rise in offshore exploration and subsea field development activity, a report of Douglas-Westwood (UK) shows.

Their research indicates that all of the market drivers of the work-class ROV business are in a period of growth.

The report forecasts that total annual expenditure on ROV support of underwater operations is expected to grow from USD891 million in 2010 to USD1,692 million in 2015.

Although ROVs are used in many sectors ranging from academic research to military applications and salvage, the largest commercial user is the offshore oil & gas industry, where they have become an essential tool for deepwater operations.

This was demonstrated recently in the subsea work to cap the Macondo blow-out in the US Gulf of Mexico.

Full story...

Posted via http://maritime-news.posterous.com Maritime-News posterous