January 29, 2020

Buoyancy Repair & Service Market :Competitive Dynamics and the Growth Prospects with Forecast 2026

Buoyancy Repair & Service Market: Overview

With advances in the technology, the man’s desire for offshore exploration of valuable resources or for studying marine life forms has grown. This desire has made the man explore deep and ultra-deep water areas of oceans to uncover the hidden mysteries and resources. Currently, a specific type of material known as buoyancy foam is used in several marine applications across the globe. These synthetic, closed-cell buoyancy foams are tightly covered by tough aramid- and fiberglass-integrated skin to form a buoyancy system. These systems are utilized for mooring and marine installation purposes. These systems is an essential part of marine operations and hence, their repair is essential for proper running of marine operations.

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Buoyancy systems need to function in harsh operating environments, which usually leads to abrasion or fracture of these systems. Continuous usage of damaged buoyancy systems could lead to a safety hazard, endangering both the equipment and the personnel. Hence, buoyancy repair is essential. For buoyancy repair services, the repair company usually sends its engineers for inspection in order to estimate the extent of damage. Then, the company sends its skilled technicians for repair work at the client site. If the client wants, it can ship the components to the repair company premises for repair. Repair services can range from minor skin damage to the large-scale laser repair of circumferential or longitudinal full breaks and reconstruction of lost portions.

Buoyancy Repair & Service Market: Key Segments

Based on end-user, the buoyancy repair & service market can be segregated into remotely operated vehicles & autonomous underwater vehicles (ROVs & AUVs), mooring, drill risers, and others. The growing requirement for remote intervention as a part of field installations in deep and ultra-deep waters has led to the rising use of ROVs and AUVs in marine applications. These vehicles require high-performance buoyancy systems for their operation and repair of these buoyancy systems is highly crucial for these vehicles. Hence, the ROVs & AUVs segment is likely to expand at a rapid pace during the forecast period. Drill risers is likely to be the largest end-user segment of the global buoyancy repair & service market during the forecast period.

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Buoyancy Repair & Service Market: Key Players

Key players operating in the global buoyancy repair & service market are Sub Sea Services, Balmoral Group Holdings Ltd, PartnerPlast AS, Trelleborg, Oil States Industries, Inc., MEDSERV, AFGlobal Corporation, Geoplex, Profloat, and Ram Designs.