NOV

What NOV does

NOV, Inc. (NYSE: NOV) is a global energy technology company that designs, manufactures, and services equipment and digital solutions for upstream oil and gas, offshore, and energy-transition applications. Headquartered in Houston, Texas, and tracing its origins to 1862, NOV operates through 16 business units and 60+ trusted brands across 57 countries with a workforce exceeding 24,000 employees. The company's offering spans drilling rigs and rig components, downhole tools, subsea production systems (including flexible pipe), and an aftermarket service network.

NOV's technology portfolio includes proprietary digital platforms such as the Max Industrial IoT Platform, Drilling Beliefs & Analytics, NOVOS Reflexive Drilling, and Max Maintenance, augmented by collaborations with AIQ (AI-powered drilling optimization), Armada (edge computing for industrial AI), and TerraFlow Energy (subsea and AI-scale power infrastructure). Manufacturing investments include the Açu, Brazil facility, where subsea flexible pipe capacity is being doubled to serve deepwater and offshore demand in South America and West Africa. The company also supplies offshore wind installation vessel packages to shipyards such as Hanwha Ocean, with named customers including Havfram and Cadeler.

The business model is project-based and enterprise-driven: revenue is generated through engineered equipment sales, multi-year aftermarket service agreements, and digital subscriptions layered onto the installed base. Customers are predominantly international oil companies (Equinor, ExxonMobil Guyana, Petrobras), national oil companies, and offshore contractors. In 2025, NOV reported $310 million in renewable/low-carbon solutions revenue, indicating an emerging but still secondary energy-transition book relative to the core oilfield and subsea franchise. ISO 27001:2022 certification of the Customer Data Services organization and the Petrobras Best Flexible Pipes Supplier 2025 award underline its operational and quality positioning.

Name

NOV

Legal name

NOV, Inc.

Website

https://nov.com

Company type

Public

Founded year

1862

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

NOV, Inc. is a Houston-based global energy technology company that manufactures drilling, subsea, and digital equipment for oil and gas operators, offshore wind contractors, and energy-transition customers across 57 countries.

Ownership category

akta.pro rank

Product category

Oilfield Equipment and Energy Technology

NAICS

Oil and Gas Field Machinery and Equipment Manufacturing (333132), Mining and Oil and Gas Field Machinery Manufacturing (33313)

SIC

Oil & Gas Field Machinery & Equipment (3533), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

OCTG, Line Pipe & Tubular Services (Supply, Inspection, Threading) (EUALABAN)

akta.pro secondary industry

Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals) (EUALABAH)

Keywords

• Oilfield equipment manufacturing
• Drilling technologies services
• Subsea production systems
• Composite fiberglass piping
• Offshore wind vessels

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Oilfield Equipment Sales: NOV generates revenue through the sale of drilling rigs, top drives, mud pumps, BOP systems, and comprehensive rig packages to oil and gas operators globally
2. Aftermarket Services and Parts: Fleet Care services including repair, re-certification, spare parts, and maintenance programs for installed equipment base
3. Renewable Energy Solutions: Revenue from offshore wind equipment including GustoMSC vessel designs, cable lay vessels, and fiberglass pipe systems for wind installations. Generated $310 million in low carbon solutions revenue in 2025
4. Digital Services and Software: NOV Digital Services providing real-time drilling instrumentation, visualization solutions, data communication and analytics including Drilling Beliefs & Analytics platform
5. Subsea Production Systems: Flexible pipe, subsea connectors, and production systems for offshore oil and gas development projects

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

NOV designs, manufactures, and services capital equipment, technologies, and digital solutions for the global oil and gas industry and energy transition markets. Its core offerings span drilling rigs and rig packages, top drives, mud pumps, blowout preventers, drill bits and tubulars, subsea flexible pipe and wellhead systems, composite fiberglass piping, artificial lift systems, and offshore wind installation vessels, complemented by the Max industrial IoT platform, NOVOS Reflexive Drilling System, and Drilling Beliefs & Analytics AI-driven optimization services.

Product overview

NOV is a diversified global energy technology company offering a comprehensive portfolio of products, services, and digital solutions across 16 business units. The company operates as a platform of interconnected offerings rather than a single product, organized around core segments including Rig Technologies (drilling rigs and equipment), Subsea Production Systems (flexible pipe and subsea systems), Fiber Glass Systems (composite piping), and ReedHycalog/Grant Prideco (drill bits and tubulars). Supporting these core units are specialized divisions covering artificial lift, intervention and stimulation, fluid motion solutions, marine and construction equipment, and wellsite services. The digital portfolio includes the Max industrial IoT platform, NOVOS Reflexive Drilling System for automated drilling, CAPstone Connected Automation Platform, and Drilling Beliefs & Analytics services. These products are delivered through a portfolio of over 60 trusted brands including Bowen, BRANDT, GustoMSC, and Mission, supported by global manufacturing, training services, and the MYNOV single sign-on portal.

Differentiator

Problem solved

Functional benefit

Brands

• AmClyde: Brand under NOV's marine and construction portfolio
• Anson
• BRANDT
• Bowen
• Chemineer
• Grant Prideco
• GustoMSC
• Mission
• Moyno
• ReedHycalog
• Tuboscope
• Varco
• XL Systems

Products and services

• Rig Technologies Complete land and offshore drilling rig packages for oil and gas operators, including top drive systems, drawworks, hoisting systems, pipe handling systems, pressure control equipment, iron roughnecks, and BOP systems.
• ReedHycalog Drill Bits and Downhole Motors Drill bits, PDC cutters, and downhole motor technologies that optimize drilling performance from bit to crown, including the ION+ Intrepid PDC cutter and Polaris Gauge ReedHycalog Evolve technology for extended laterals.
• Grant Prideco Drilling and Intervention Tubulars Drill pipe, heavy weight drill pipe, drill collars, and tubular running services supporting drilling, completion, and intervention operations for oil and gas operators.
• IntelliServ High-Speed Downhole Data Transmission High-speed data transmission network that transfers data instantaneously from downhole to surface, enabling real-time drilling optimization and monitoring for drilling operators.
• Subsea Production Systems

Quantifiable outcome

• Reduced planned maintenance costs by 70% using Max Maintenance usage-driven approach
• +3 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature8 records

Partnerships

Eight partnerships are on record, tiered core and major.

• TerraFlow EnergycoreStrategic or Co-development Partner · 28 May 2026Collaboration combines TerraFlow's long-duration energy storage technology with NOV's expertise in fiberglass systems, manufacturing, and field execution to support applications requiring durability, corrosion resistance, and long asset life for AI-scale power infrastructure.
• AIQcoreTechnology or Integration · 12 January 2026Combining NOV's drilling systems and Max industrial IoT platform with AIQ's industrial AI to accelerate AI-powered drilling optimization and support broader international adoption of AI-driven drilling solutions.
• ArmadacoreTechnology or Integration · 17 November 2025Ruggedized industrial edge computing platform enables real-time, AI-driven decision-making across energy, mining, manufacturing, and utilities sectors through collaborative solution development.
• EquinormajorTechnology or IntegrationNOV Subsea Production Systems selected to provide flexible pipe for three Equinor subsea projects supporting the first wave of subsea tiebacks offshore Norway.
• ExxonMobil GuyanamajorTechnology or IntegrationNOV selected to provide actively heated flexible pipe system for Hammerhead field development, supporting deepwater flow assurance in one of the most active basins globally.
• Hanwha OceanmajorStrategic or Co-development PartnerContract for next-generation NG-16000X wind turbine installation vessel featuring enhanced lifting and carrying capacities, with delivery expected in 2028.
• HavframmajorStrategic or Co-development PartnerNOV awarded equipment and design package for Havfram's second wind installation jack-up vessel, representing the 11th NG-series jack-up under construction at various shipyards worldwide.
• CadelermajorTechnology or IntegrationNOV to supply fiberglass pipe for Cadeler's wind turbine installation vessels with Bondstrand glass-reinforced epoxy piping systems designed to reduce total cost of ownership.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Subsea 7: Subsea engineering, construction, and SURF services provider that consumes and competes with NOV's flexible pipe, subsea connectors, and offshore installation equipment in offshore wind and oil & gas projects.
• Saipem: Broader energy services and engineering incumbent active in offshore drilling, subsea developments, and renewable energy infrastructure — overlapping with NOV's subsea, marine construction, and GustoMSC vessel design.

Direct peers

• Schlumberger (SLB): World's largest oilfield services and equipment provider, directly competing with NOV across drilling, completions, production, and subsea — including overlapping drilling automation, drill bits, and digital offerings.
• Baker Hughes: Major oilfield services and industrial energy technology company with competing portfolios in drilling, subsea production systems, artificial lift, and digital solutions for oil and gas operators.
• Halliburton: Global oilfield services competitor active in drilling, completion, intervention, and stimulation — overlapping NOV's Rig Technologies, ReedHycalog, and Intervention & Stimulation Equipment units.
• TechnipFMC: Direct competitor in subsea production systems and flexible pipe, supplying integrated subsea tree systems and SURF solutions to the same deepwater IOC customers (Equinor, ExxonMobil, Petrobras).
• Weatherford International: Oilfield services and equipment company competing in drilling, completions, intervention and wellsite services — overlapping with NOV's WellSite Services, Intervention & Stimulation Equipment, and Grant Prideco.
• Tenaris: Leading manufacturer of OCTG and line pipe products, directly competing with NOV's Tuboscope and Grant Prideco tubular businesses for oil and gas operator spend.
• Vallourec: Premium tubular solutions provider for the energy industry, competing with NOV in OCTG, line pipe, and subsea connector offerings across oil and gas markets.
• Aker Solutions: Subsea production systems and offshore engineering competitor serving similar North Sea, Brazilian, and West African deepwater customers as NOV Subsea Production Systems.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/NOVGlobal
• Facebookfacebook.com/novgoodenergy
• LinkedInlinkedin.com/showcase/nov-good-energy

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NOV