Global Tethered Manned Submersible Market: Introduction

  • Tethered manned submersibles are underwater vehicles which are used to understand and explore the deep sea for various purposes such as understating of sea life, oil and gas exploration, military, and tourism
  • Sea is a major source of oil and gas, minerals, and metals. In the recent times, companies are trying to explore deep sea waters for valuable resources. For this, they are developing underwater mining and research laboratories. Manned submersibles can be employed in various stages of installation of underwater mining and research laboratories, such as underwater land exploration, transportation, and observation and maintenance of facilities.
  • Players are investing heavily in the development of advance manned submersibles that can carry more number of individuals at an increased diving capacity, due to the rising demand for tethered manned submersible from various industries

Key Drivers and Restraints of Global Tethered Manned Submersible Market

  • Rising demand for use in the deep-sea mining of metals and minerals is a key driver of the global tethered manned submersible market. Decreasing resources of metals and minerals on land have compelled companies to explore the deep sea. These manned submersibles can be useful in various stages of underwater mining such as location feasibility, transportation of goods and workforce, and observation of facilities. Hence, rise in the deep-sea mining of metals and minerals is a key driver of the global tethered manned submersible market.
  • Rising demand from marine life exploration and research is another key driver of the global tethered manned submersible market. With the rise in global warming, pollution, and threat of extinction of marine life, scientists are studying the deep sea to understand its history as well as the current condition and its chemical, physical, and biological features. For this activity, tethered manned submersibles can be useful. Thus, rising demand from marine life exploration and research can be a key driver of the global tethered manned submersible market.
  • High research and development costs is a major restraint of the global tethered manned submersible market. Deep sea has extreme environmental conditions such as high pressure, low temperature, and zero visibility. These manned submersibles also carry some passengers. For safety of these passengers, companies are investing more time and money in order to develop a vessel which can withstand extreme environmental conditions and protect passengers. Hence, costs incurred for research and development of tethered manned submersibles is a major restraint of the global tethered manned submersible market.

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Global Tethered Manned Submersible Market: Segmentation

  • The global tethered manned submersible market can be segmented based on depth, type, and application
  • In terms of depth, the global tethered manned submersible market can be segmented into below 1,000 meters to 3,000 meters, 3,001 meters to 5,000 meters, and above 5,000 meters. In 2018, the below 1,000 meters to 3,000 meters segment dominated the global market. However, due to advancements in technology, the above 5,000 meters segment is anticipated to expand at a significant CAGR during the forecast period.
  • Based on type, the global tethered manned submersible market can be divided into non-autonomous, autonomous, and independent. The non-autonomous segment dominated the global market in 2018. This trend is anticipated to continue during the forecast period also.
  • In terms of application, the global tethered manned submersible market can be segmented into oil & gas exploration, marine life exploration, military, tourism, and others. Oil & gas exploration and marine life exploration are key segments of the global market.

Global Tethered Manned Submersible Market: Regional Segmentation

  • Based on region, the global tethered manned submersible market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • North America dominated the global tethered manned submersible market in 2018. The market in the region is expected to expand at a significant pace during the forecast period, as the demand for tethered manned submersibles is high in the U.S. and Canada, due to extensive oil and gas exploration activity in these countries.
  • The market in Europe is projected to expand at a significant CAGR during the forecast period. Russia, the Netherlands, and Germany are likely to lead the tethered manned submersible market in Europe during the forecast period.
  • The market in Asia Pacific is expected to expand at a steady CAGR during the forecast period. Countries such as China, Japan, and India are investing in the development of advanced tethered manned submersibles.

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Key Developments

  • In October 2019, Chinese Academy of Sciences, a government-owned organization, launched a new manned submersible with the diving capacity of 11,000 meters. The cabin is made of titanium alloy, which allows the submersible to dive more than 10,000 meters deep in the sea.
  • In September 2019, Triton Submarines LLC sold its first manned submersible to EV Ocean Nina Jensen, which is a not-for-profit foundation. This submarine has capacity to dive more than 2,000 meters deep and it can carry three persons aboard.

Key Players Operating in Global Market

  • Battelle Memorial Institute
  • Chinese Academy of Sciences
  • Triton Submarines LLC
  • Blue Marble Exploration LLC
  • Aquatica Submarines Inc.
  • Atlantis Adventures LLC
  • Global Sub Dive
  • DNV GL AS
  • EYOS Expeditions Ltd.
  • GEOMAR Helmholtz

Global Tethered Manned Submersible Market: Research Scope

Global Tethered Manned Submersible Market, by Depth

  • 1,000 meters to 3,000 meters
  • 3,001 meters to 5,000 meters
  • Above 5,000 meters

Global Tethered Manned Submersible Market, by Type

  • Non-autonomous
  • Autonomous
  • Independent

Global Tethered Manned Submersible Market, by Type

  • Oil & Gas Exploration
  • Marine Life Exploration
  • Military
  • Tourism
  • Others

Global Tethered Manned Submersible Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • South Korea
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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