GLOBAL INERTIAL SYSTEMS IN SUBSEA APPLICATIONS 2014 - 2019 Market Shares, Forecasts & Trends
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TABLE OF CONTENTS 1. INTRODUCTION 1.1 Research Methodology
1 2
1.1.1 Definition of the Market
3
1.1.2 Report Description
4
1.1.3 Executive Summary
5
2. KEYFINDINGS OF THE STUDY
6
3. MARKET OVERVIEW
7
3.1 Market Segmentation
8
3.2 Overview
9
3.3 Industry Value Chain Analysis
10
3.4 Industry Attractiveness – Porter’s 5 Force Analysis
11
4. MARKET DYNAMICS
14
4.1 Introduction
15
4.2 Drivers
16
4.3 Constraints
23
5. Technology Overview
30
5.1 Technology Snapshot
31
5.2 Industry Applications
32
6. Different types of inertial sensors
33
6.1 Gyroscopes
34
6.2 Accelerometers
34
6.3 Inertial Measurement Units
34
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6.4 GPS/INS
35
6.5 Multi Axis Sensors
36
7. MARKET ANALYSIS AND FORECAST
37
7.1 Inertial Systems in Subsea Oil and Gas Operations
38
7.2 Role of Remotely Operated Vehicles and Autonomous Underwater Vehicles in Subsea Oil and Gas Production 7.3 Exploration
39 40
7.3.1 Overview
41
7.3.2 Drivers
42
7.3.2.1 Development in the Technology of Sensors
42
7.3.2.2 Increasing Oil and Gas Demand
44
7.3.3 Market Size and Forecast
45
7.3.4 Analyst View
47
7.4 Well Construction
48
7.5 Monitoring/Surveillance
56
7.6 Production and Operation
63
7.7 Repair and Maintenance
70
7.8 Other Services
77
7.9 Global Market Segmented by Equipment
78
7.9.1 Gyroscopes
79
7.9.2 Accelerometers
80
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7.9.3 Inertial Measurement Units
81
7.9.4 GPS/INS
82
7.9.5 Multi Axis Sensors
83
7.10 Global Market Segmented by Grade
84
7.10.1 Navigational
85
7.10.2 Tactical
86
7.10.3 Industrial
87
7.10.4 Automotive
88
7.11 Global Market - Segmented By Region
89
7.11.1 North America
90
7.11.1.1 USA
90
7.11.1.2 Canada
92
7.11.1.3 Others
94
7.11.2 Europe
96
7.11.2.1 Germany
98
7.11.2.2 United Kingdom
100
7.11.2.3 Spain
102
7.11.2.4 Others
104
7.11.3 APAC
106
7.11.3.1 Japan
108
7.11.3.2 China
110
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7.11.3.3 South Korea
112
7.11.3.4 Others
114
7.11.4 ROW
8. Competitive Landscape
116
118
8.1 Mergers & Acquisitions
120
8.2 Joint Ventures
121
8.3 New Product Launches
122
8.4 5 Biggest Companies by Revenue
123
8.5 2 Most active companies in the past three years
124
9. Company Profiles 9.1 Aeron
125 126
9.1.1 Overview 9.1.2 Major Products and Services 9.1.3 Financials 9.1.4 Recent Developments 9.2 MEMSIC
128
9.2.1 Overview 9.2.2 Major Products and Services 9.2.3 Financials 9.2.4 Recent Developments 9.3 Systron Donner 9.3.1 Overview 9.3.2 Major Products and Services 9.3.3 Financials 9.3.4 Recent Developments
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9.4 Trimble Navigation
132
9.4.1 Overview 9.4.2 Major Products and Services 9.4.3 Financials 9.4.4 Recent Developments 9.5 Lord Microstain
134
9.5.1 Overview 9.5.2 Major Products and Services 9.5.3 Financials 9.5.4 Recent Developments 9.6 Vectornav Technologies
136
9.6.1 Overview 9.6.2 Major Products and Services 9.6.3 Financials 9.6.4 Recent Developments 9.7 Systron Donner Inertial
138
9.7.1 Overview 9.7.2 Major Products and Services 9.7.3 Financials 9.7.4 Recent Developments 9.8 L3 Communications
140
9.8.1 Overview 9.8.2 Major Products and Services 9.8.3 Financials 9.8.4 Recent Developments 9.9 Ixblue 9.9.1 Overview 9.9.2 Major Products and Services 9.9.3 Financials
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9.9.4 Recent Developments 9.10 Honeywell
144
9.10.1 Overview 9.10.2 Major Products and Services 9.10.3 Financials 9.10.4 Recent Developments 9.11 SBG Systems
146
9.11.1 Overview 9.11.2 Major Products and Services 9.11.3 Financials 9.11.4 Recent Developments 9.12 Tyndall
148
9.12.1 Overview 9.12.2 Major Products and Services 9.12.3 Financials 9.12.4 Recent Developments 9.13 Moog
150
9.13.1 Overview 9.13.2 Major Products and Services 9.13.3 Financials 9.13.4 Recent Developments 9.14 Xsens
152
9.14.1 Overview 9.14.2 Major Products and Services 9.14.3 Financials 9.14.4 Recent Developments 9.15 Sagem 9.15.1 Overview 9.15.2 Major Products and Services
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9.15.3 Financials 9.15.4 Recent Developments
10. Appendix
156
10.1 Abbrevations
156
10.2 Sources
157
10.3 Bibliography
159
10.4 Disclaimer
159
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RESEARCH METHODOLOGY The research methodology can be put into the following sequence: 1) Secondary Research: Information was collected from a number of public and paid data sources. Public databases, company annual reports, white papers and research publications by recognized industry experts were utilized. Paid data sources include authentic industry databases. 2) Primary Research: After collecting data from secondary sources, primary interviews were conducted with stakeholders at different points of the value chain like manufacturers, oil and gas explorers, Robotics manufacturers and key opinion leaders of the industry. Primary research was used both to validate the data points obtained from secondary research and to fill the data gaps after secondary research. 3) Market Engineering: The market engineering phase involves analysing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates. 4) Expert Validation: The market engineered data is verified and validated by a number of experts, both in-house and external. 5) Report Writing: After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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MARKET OVERVIEW – INERTIAL SYSTEMS IN SUBSEA APPLICATIONS
The use of Inertial systems in subsea applications to reduce human intervention in Inertial Navigation and motion Sensing is on the rise. The compatibility with advanced technologies like MEMS has enabled the application of inertial systems to create underwater navigation solutions cost effective methods. The market for Navigation systems in subsea applications alone is 14.73 Million USD and is expected to reach 19.14 Million USD by the end of 2019. This growth is driven by the increasing underwater exploration in regions like the Gulf of Mexico and the North Sea. The Aquatic exploration market is estimated to be around 350 Million USD and is expected to rise rapidly. The Deepwater Horizon incident has made the industry aware of the utility of ROV's in the containment of leaks and ability to repair deep-sea oil and gas wells.
Market Value of Inertial Systems in Subsea Applications – By Type (2014-19) In Million USD
Type
2014
2015
2016
2017
2018
2019
Gyroscopes
xx
xx
xx
xx
xx
xx
Accelerometers
xx
xx
xx
xx
xx
xx
Inertial Measurement Units
xx
xx
xx
xx
xx
xx
GPS/INS
xx
xx
xx
xx
xx
xx
Multi Axis Sensors
xx
xx
xx
xx
xx
xx
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DRIVERS The key driver for the Inertial systems market in Subsea applications is their employability in Remotely Operated Vehicles (ROV) and Autonomous Underwater Vehicles. The advancements in technology have enabled the seamless integration of inertial sensors into applications such as AUV control and SONAR data geo - referencing. The advantages offered by inertial systems over alternatives like acoustic positioning like considerably low power consumption are critical during underwater exploration. The rise of underwater exploration in regions like the South China Sea and South East Asia is expected to create a massive demand for ROV's as mundane exploratory tasks are better suited to be done by automated vehicles rather than a crewed ship. The long term financial benefits also contribute to the employment of drones.
Market Value of Inertial Systems in Subsea Applications – By Grade (2014-19) In Million USD
Type
2014
2015
2016
2017
2018
2019
Navigational
xx
xx
xx
xx
xx
xx
Tactical
xx
xx
xx
xx
xx
xx
Industrial
xx
xx
xx
xx
xx
xx
Automotive
xx
xx
xx
xx
xx
xx
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ROLE OF REMOTELY OPERATED VEHICLES AND AUTONOMOUS UNDERWATER VEHICLES IN SUBSEA OIL PRODUCTION Subsea oil production includes the exploration, drilling and development of oil and gas fields in underwater locations. The rise in number of Deepwater wells has marked a remarkable increase in the need for the employment of remotely operated vehicles. At depths greater the 600 feet where manned diving is impractical these vehicles are used to collect mineral samples from prospective mine sites. Using drills and other cutting tools, the ROVs obtain samples to be analyzed for desired minerals. Exploration is a mundane and tedious task which requires intense concentration with unwavering accuracy. This makes it a perfect sweet spot for the ROV and AUV market. ROVs being unoccupied, highly maneuverable and operated by a crew aboard a vessel prevent the vessel and the crew from being exposed to the hazardous conditions in the deep sea. The ability to place various sensors like Sonars, magnetometers, a still camera, a manipulator or cutting arm, water samplers, and instruments that measure water clarity, water temperature, water density, sound velocity, light penetration, and temperature makes ROVs a versatile utility tool in the process of Subsea Oil and Gas production.
No. of ROVs
Rise in use of ROVs in Subsea Oil and Gas Production
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EXPLORATION The oil and gas industry uses AUVs to make detailed maps of the seafloor before they start building subsea infrastructure; pipelines and subsea completions can be installed in the most cost effective manner with minimum disruption to the environment. The AUV allows survey companies to conduct precise surveys of areas where traditional bathymetric surveys would be less effective or too costly. Also, post-lay pipe surveys are now possible with increasing advancements in technology. Radio waves cannot penetrate water very far, so as soon as an AUV dives it loses its GPS signal. Therefore, a standard way for AUVs to navigate underwater is through dead reckoning. Navigation can however be improved by using an underwater acoustic positioning system. This is where the inertial sensing systems come into play. Sensors like gyrometers and accelerometers are incorporated to improve estimation of its position, and reduce errors in dead reckoning (which grow over time), the AUV can also surface and take its own GPS fix. Between position fixes and for precise maneuvering, an Inertial Navigation System on board the AUV calculates through dead reckoning the AUV position, acceleration, and velocity. The market is in a booming phase with increasing reliance on technology and miniaturization of sensors. This has resulted in the reduction of power requirement and thereby enabling longer underwater missions. The ever increasing energy requirements and declining reserves in existing wells are driving subsea exploration ahead. Decreasing costs in operation have made the employment of drones economically feasible and profitable in the long term. The Gulf of Mexico, Africa and Latin America will be the major areas of exploration.
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Increase in Exploration Activity - By Region
DEVELOPMENT IN THE TECHNOLOGY OF SENSORS Doing more with less is the mantra of our era and nowhere is this more apparent than in the drive towards miniaturization in next-gen electronic components and systems where new manufacturing techniques are pushing the limits of smaller, faster, and cheaper. The push for smaller parts is coming from both the need for lighter assemblies of machines and the need to reduce material costs via smaller parts that work as well as larger ones. Inertial systems have come a long way from the Floated Rate Integrating Gyro (RIG) and 'torque to balance accelerometers ' developed in the 1950's. Although very few 'highaccuracy gimballed Inertial Navigation systems' have been developed since the 1990's, they have been the turning point in ushering in an accurate inertial navigation system. The advancement in microcomputer technology and development of gyros with high dynamic range heralded in the era of strapdown technology. The systems became more reliable, rugged and remarkably smaller.
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BLOCKED FROM THE VIEW
Refinements in technology have led to the development of economically profitable technologies like the Optical Gyro, Coriolis vibrating gyros, quartz resonant accelerometers and then finally the MEMS inertial sensors. The global market for just MEMS based accelerometers is over 2.3 billion USD and is expected to grow rapidly with increasing applications across various fields. The development GPS systems although initially threatened to supplant Inertial Navigation could not do the job on its own and became seamless partners providing excellent synergy. The complimentary development in the computational power has made it possible to compensate errors by software. This has enabled the employment of sensors in new and advanced applications with greater ease.
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INCREASING OIL AND GAS DEMAND: The demand for oil and gas is rapidly increasing. The emergence of the Asia Pacific region as a global force has driven the consumption to unprecedented levels. Forecasts suggest that the global consumption of petroleum and other fuels will reach 93.08 million barrels per day by 2015, up from 89.17 million barrels per day in 2012. With the majority of the fuel demand expected to come from China and India, companies are looking to develop new fields to increase their life expectancy and their resource bank. Increasing industrialization, especially in emerging markets, is also a key factor behind the energy demand. Businesses, factories in particular, require significant amounts of energy in the form of both electricity and petroleum-based fuels in order to operate. As economies industrialize at an escalating pace, the energy demand is increasing as well.
Oil Consumption 32000
30000
No. of Barrels
28000
26000
24000
22000
20000 2003
2004
2005
Subsea Applications in Inertial Systems | Sample
2006
2007
2008
2009
2010
2011
2012
2013
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INCREASING DEEP SEA DRILLING ACTIVITIES: According to EIA, around 10% of the world’s remaining recoverable conventional oil and gas resources lie below the ocean surface in deep waters. It is expected that deep water drilling and production activities are set to increase in the coming future. Often the resource areas in the region are confined to large finds, containing the equivalent of a million barrels of oil some times, which is attracting the operators, because it is easier and more economical to drill in such areas. This has resulted in the need for more sophisticated equipment with capabilities of performing advanced tasks in deepwater conditions.
SUBSEA MONITORING/SURVEILLANCE Even minor leaks of oil into the ocean result in a severe environmental catastrophe and damage the ecology surrounding the well. These incidences need to be capped and repaired as soon as possible. Unmanned Surveillance vehicles enable us to monitor the depths of the ocean and empower us with a view of hazardous and humanly unreachable parts of the well. Autonomous monitoring systems are used for a wide number of low-cost, long endurance subsea monitoring applications. Monitoring long-term trends in pipeline movement or seabed settlement are essential to the underwater production and transportation of oil. The autonomous functionality of the system enables it to operate for several years without human or system intervention. This removes the requirement and cost overhead associated with the presence of a surface vessel or subsea ROV throughout the monitoring period.
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Autonomous Monitoring Transponders require very precise sensors to measure the changes in pitch and roll of the pipeline and the surface on which the transponder is placed. The market is in a booming phase with increasing reliance on technology and miniaturization of sensors. This has resulted in the reduction of power requirement and thereby enabling longer underwater missions. The ever increasing energy requirements and declining reserves in existing wells are driving subsea exploration ahead. Decreasing costs in operation have made the employment of drones economically feasible and profitable in the long term. The Gulf of Mexico, Africa and Latin America will be the major areas of exploration.
No. of Major Accidents
Major Accidents And Oil Spills - By Region
North America
Europe
Middle East and Africa
Latin America
Asia Pacific
2008-2014
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COMPETITION ANALYSIS SBG SYSTEMS SBG Systems is a fast growing supplier of miniature, high performance and innovative motion sensing solutions. SBG Systems is headquartered in Rueil Malmaison, France and operates in North America from its subsidiary in Chicago, IL.
SBG Systems offers a complete line of inertial sensors, such as Attitude and Heading Reference System (AHRS) or Inertial Measurement Unit (IMU), based on the state of the art MEMS technology. The manoeuvring of ROV's and AUV's requires the roll, pitch, heading, velocity and position data from Inertial systems. SBG offers the following products:
Ellipse-A: Cost Effective Inertial Sensors for ROV Orientation
Ekinox-E: High Accuracy ROV Navigation and Orientation
Ekinox-U: Inertial Navigation System with Subsea Enclosure
Ellipse-E: Miniature Inertial Navigation Sensor for Small AUVs
ANALYST VIEW Apart from Subsea Applications, SBG also offers high-accuracy inertial sensors, miniature inertial sensors, compass & inclinometers for application in Aerospace, Land based navigation, Marine and Virtual Reality industries.
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Subsea science is the second most important market for SBG as new technologies enable new research projects. The ratio between the cost, the accuracy, the size and the power consumption is a very important factor for this market. The marine defense industry is also a promising market for SBG System as the need to offer smaller and lower cost solutions such as diver's navigation is more and more important. The company believes that the next evolution in MEMS inertial sensors will certainly open up new opportunities with decreased size, power consumption and price over they FOGs counterpart. Research and Development is a major area of focus for the company with more than 40% of the turnover being invested in product development or to research new technologies. In 2009 SBG Systems has introduced its first miniature motion sensor after three years of R&D. Since then, each year new products or technologies have been introduced. In 2013, the Ekinox series was a milestone for the company with a subsea enclosure launched in 2014. In only four years, the accuracy has been improved by a factor of 10 with all famous features needed by the subsea and marine markets such as delayed / real-time heave DVL, Ethernet, web page configuration, sonar compatibility. The company is eager to strengthen their position in the subsea and marine markets in 2014 with the introduction of new exciting products and technologies.
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