The submersible en route to the Titanic, which went missing on Sunday with five individuals on board, experienced a devastating implosion, resulting in the loss of all lives, according to US Coast Guard Rear Adm. John Mauger on Thursday.

The wreckage of the missing submersible, known as the "Titan," including the tail cone and other debris, was discovered approximately 1,600 feet from the Titanic's bow, resting at a depth of around 13,000 feet in the North Atlantic Ocean.

Adm. Mauger stated during a press conference, "The sea floor is an incredibly harsh environment, and the debris recovered is indicative of a catastrophic implosion of the vessel."

Paul Hankins, the US Navy Director of Salvage Operations and Ocean Engineering, reported that five significant pieces of debris from the submersible were found in the area, with each end of the pressure hull located separately.

The families of those on board were promptly informed of the tragic discovery. Adm. Mauger expressed his condolences, saying, "I can only imagine the pain they are enduring, and I hope this finding brings some solace during this difficult time."

Just moments before the press conference, OceanGate Expeditions, the company operating the deep-sea submersible, issued a statement mourning the loss of the five men on board.

OceanGate's statement read, "We now believe that our CEO Stockton Rush, Shahzada Dawood and his son Suleman Dawood, Hamish Harding, and Paul-Henri Nargeolet, have sadly perished. These individuals were true explorers who possessed a unique spirit of adventure and a profound passion for exploring and safeguarding our oceans. Our hearts go out to these five souls and their families as they endure this tragic time. We mourn the loss of their lives and the joy they brought to everyone who knew them."

A spokesperson for Pelagic Research Services confirmed to CNN that their remotely operated vehicle, which was the first to search for the submersible on the sea floor, discovered the debris field.

This development concludes a saga that commenced on Sunday when the Titan descended to explore the Titanic wreckage. The expedition promised participants "a chance to step outside of everyday life and discover something truly extraordinary" and carried a price tag of $250,000 per person, as per OceanGate's archived website.

However, the cramped vessel lost contact with its mother ship approximately one hour and forty-five minutes into its dive and failed to resurface as expected, triggering an extensive search and rescue operation in a remote area hundreds of miles southeast of Newfoundland.

The Titanic continues to captivate the public's imagination over a century after its tragic collision with an iceberg and subsequent sinking, claiming over 1,500 lives. This expedition also sheds light on the burgeoning industry of adventure tourism for the wealthy, similar to Blue Origin's space flights or guided tours to Mount Everest.

The focus on this vessel has prompted renewed scrutiny of OceanGate's safety measures from both employees and industry leaders. The 23,000-pound deep-sea vessel, constructed from an experimental combination of carbon fiber and titanium, relied on low-tech components, including a video game controller.

The submersible was equipped with an estimated 96 hours of life support, making Thursday morning a crucial moment in the search, according to Guillermo Söhnlein, co-founder of OceanGate.

Adm. Mauger announced that medical personnel and the nine vessels involved in the search would begin demobilizing over the next 24 hours. However, remote operations on the sea floor will continue for an indefinite period.

Coast Guard commends extensive search and rescue efforts

International search and rescue efforts were intensified in recent days.

The last communication between the submersible and its mother ship, the Polar Prince, occurred at 11:47 a.m. on Sunday. With no underwater GPS, the submersible relied solely on text messages from the surface ship for guidance.

A remotely operated vehicle was deployed to search the sea floor, as announced by the US Coast Guard's Northeast District on Thursday morning. A French vessel also deployed an ROV, while equipment from Magellan, the team that mapped the Titanic wreckage site last year, was en route to provide assistance.

Aircraft scoured the vast search zone, and specialized medical personnel and a hyperbaric recompression chamber arrived at the scene on Thursday, according to officials.

Adm. Mauger praised the interagency and international search efforts during the press conference, expressing gratitude for the appropriate equipment utilized. He stated, "The support we received was immense, and we had the right equipment on the seabed to locate the wreckage."

Earlier this week, there were moments that offered hope to the families and friends of those on board.

Sonar devices detected banging noises underwater on Tuesday and Wednesday within the extensive search area, although the source remained unclear. According to an internal US government memo, underwater sounds were first detected on Tuesday at 30-minute intervals, followed by a recurrence four hours later.

"The Coast Guard has done an excellent job assembling the right team with the right tools in the right location. So, the chances of success are as good as they can be," said Gallo, senior adviser for strategic initiatives at RMS Titanic Inc., in an interview with CNN on Thursday morning.

OceanGate faces questions regarding vessel safety

The implosion of the Titan and the loss of lives have raised concerns about the safety procedures of its operator.

In 2021, OceanGate Expeditions' CEO Stockton Rush told a Mexican travel blogger that he aspired to be recognized as an innovator willing to break the rules.

"I think it was (US Army) Gen. (Douglas) MacArthur who said, 'You're remembered for the rules you break,'" Rush told Alan Estrada, who documented his trip to the Titanic, including an unsuccessful attempt in July 2021 before a successful visit in 2022.

"And you know," Rush added, "I've broken some rules to make this happen."

At least two former OceanGate employees raised safety concerns about the thickness of the vessel's hull and testing procedures several years ago, according to CNN sources.

OceanGate Expeditions deviated from industry norms by declining a voluntary and rigorous safety review of the vessel, as stated by industry expert Will Kohnen of the Marine Technology Society. Kohnen told CNN on Wednesday that pursuing a certification review "could have potentially prevented some of these issues."

Court records indicate that the company faced a series of mechanical problems and adverse weather conditions, leading to trip cancellations or delays in recent years. Some high-paying customers filed lawsuits seeking reimbursement for trips they claimed never took place, alleging that the company had exaggerated its ability to reach the Titanic wreckage.

OceanGate did not respond to the court claims and could not be reached for comment.

Several reporters who boarded the Titan previously noted these issues.

During a test dive of the Titan for Discovery Channel's "Expedition Unknown" in 2021, host Josh Gates and his team decided against filming a segment on the vessel. Gates explained, "It became clear to us at that time that there was a lot that needed to be worked out with the sub. A lot of the systems worked, but many didn't. We experienced issues with thrusters and computer control. Ultimately, it was a challenging dive."