Autonomous Ships Market

Autonomous Ships Market Size

             2020                         2024-2032      

Report	Details
Market Size Value	USD 4.1 billion in 2022
Market Size Value	USD 8.4 billion by 2030
CAGR	9.6%
Forecast Period	2024-2032
Base Year	2023
Historic Data	2020
Segments Covered	By Ship Type, Autonomy, End User, Solution, Fuel Type, Propulsion, and Region
Geographics Covered	North America, Latin America, Europe, Asia-Pacific, Rest of the World

Major players Autonomous Ships Market include: ABB (Switzerland), Wärtsilä (Finland), Honeywell International Inc. (US), Siemens (Germany), General Electric (US), Samsung Heavy Industries Co., Ltd (South Korea), KONGSBERG (Norway), Marine Technologies, LLC (US), Hyundai Heavy Industries Co., Ltd. (South Korea), Praxis Automation Technology B.V. (Netherlands), DNV GL (Norway), Northrop Grumman. (US), Fugro (Netherlands), Vigor Industrial LLC. (US), SELSAN A. (Turkey) & others.

An autonomous ship refers to a vessel that operates without human input from passengers, utilizing sensing equipment like LIDAR, environmentally responsive control systems, and navigation gear.

Autonomy in the autonomous ship sector is categorized into three levels: full autonomy, remote operations, and partial autonomy. Partially autonomous ships are safer alternatives operated by artificial intelligence to prevent ship accidents. These advancements are aimed at mitigating human errors that have led to significant financial losses due to maritime accidents. The rise in such accidents has underscored the need for autonomous technology. In 2020, 49 large ships were lost, a statistic that remained largely unchanged from 2019, as reported by the Insurance Information Institute. This underscores the potential of autonomous ships to reduce accidents stemming from human errors and financial repercussions, thereby driving their demand in the years ahead.

However, the growth of the autonomous ship market is anticipated to be hindered by the escalating cybersecurity and privacy concerns during the projected period. The rapid technological progress, encompassing artificial intelligence, mobility systems, and the internet of things, brings forth heightened risks of cybersecurity breaches and data vulnerabilities. This poses a significant challenge for the autonomous ship sector. The Association for Computing Machinery (ACM) has highlighted the critical issue of cybersecurity for autonomous ships, regardless of their form or level of autonomy. The dependence on information and communication technology (ICT) for ship control, accessibility to the internet, and enhanced connectivity between onboard systems and onshore monitoring raise serious cybersecurity implications. Consequently, the escalating threats to cybersecurity and privacy are poised to restrain the growth of the autonomous ship market in the foreseeable future.

The commercial segment is poised to achieve the most significant growth throughout the forecast period.

Based on Ship Type, The Commercial Ships hold the major market share during the forecast period, which is due to the increasing advancements in technology are driving the creation of novel autonomous naval vessels, alongside the integration of sensor systems into commercial maritime platforms such as cargo vehicles, passenger ferries, and more. This infusion of technology is set to foster the expansion of autonomy within the commercial sector. However, the maritime industry's slower pace of technology adoption compared to other transportation sectors makes the integration of autonomy a gradual and costly process. As a result, commercial operators are initially embracing remote-controlled vessels and devising long-term strategies to eventually replace conventional ships with autonomous counterparts.

Leading liner shipping companies like Maersk, CMA CGM, and Hapag-Lloyd, as well as cruise operators, have been establishing remote operating centers (ROCs) for their fleets over the past few years. These centers facilitate real-time data monitoring from the bridge and provide onboard crew assistance in vessel operations. A significant example is the Yara Birkeland, a 120 TEU container ship operating autonomously, currently in construction. Yara International's plan is to introduce manned vessels initially in 2020, with a gradual implementation of autonomous functions. This is anticipated to lead to fully autonomous, unmanned operations for the vessel by 2022.

To expedite the development of new autonomous ships, several companies are collaborating with technology providers. For instance in December 2018, a notable case is Rolls Royce, a trailblazer in autonomous technology. In partnership with Finferries, the Finnish state-owned ferry operator, Rolls Royce successfully demonstrated Falco, the world's inaugural fully autonomous ferry.

The Growth of the Autonomous Ships Market in North America.

North America is projected to hold a major market share of the global autonomous ships market, which is driven by the expansion of international trade and cargo activities. The region's advanced technological landscape, well-established infrastructure, thriving marine tourism, and high per capita income collectively contribute to the anticipated growth in the autonomous ships market.

Although Asia Pacific had previously dominated the global autonomous ships market, this trend is anticipated to shift in the forecast period. This change can be attributed to factors like the rising demand for commercial ships, increased participation in global trade through exports, a higher concentration of harbors, and the progressive growth of emerging economies, especially in India and China. These elements are expected to play a pivotal role in driving the growth of the autonomous ships market across the forecast period.

The Autonomous Ships Market research report provides an in-depth overview of the industry including market segmentation by product type, system, industry, application and region. Analysis of the global market with a special focus on high-growth applications in each vertical and fast-growing market segment. It includes a detailed competitive landscape with identification of the key players with respect to each type of market, in-depth market share analysis with individual revenue, market shares, and top player’s rankings. Impact analysis of the market dynamics with factors currently driving and restraining the growth of the market, along with their impact in the short, medium, and long-term landscapes. Competitive intelligence from the company profiles, key player strategies, and game-changing developments such as new product launches, collaborations, expansions, investment analysis, mergers, and acquisitions.

Autonomous Ships Market is segmented by region and further by countries, product type, system, industry, and application. Players, stakeholders, and other participants in the global Autonomous Ships Market will be able to gain a strong position as this report will surely benefit their marketing strategies. The market analysis focuses on revenue and forecast by region/countries and by application in terms of revenue forecast for the period 2023-2030.

The report further studies the market strategies of key players, recent development status, future plans, and Autonomous Ships Market trends across the world. Also, it splits Autonomous Ships Market Segmentation by product type, system, industry, application and region to deep dive research and reveals company profile and prospects.

Major Classifications are as follows:

• Autonomous Ships Market, By Ship Type
  • Commercial ships
    • Bulk Carriers
    • Tankers
    • Dry Cargo
    • Containers
    • Others
  • Defense ships
  • Passenger ship
• Autonomous Ships Market, By Autonomy
  • Fully Autonomous
  • Remotely Operated
  • Partially Autonomous
• Autonomous Ships Market, By End User
  • Line-fit & Newbuild
  • Retrofit
• Autonomous Ships Market, By Solution
  • Systems
  • Software
  • Structures
• Autonomous Ships Market, By Fuel Type
  • Carbon Neutral Fuels
  • Liquefied natural gas
  • Electric batteries
  • Heavy fuel oils (HFO)
• Autonomous Ships Market, By Propulsion
  • Fully Electric
  • Hybrid
  • Conventional
• Autonomous Ships Market, By Geography
  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Rest of the World
    • Middle East
    • UAE
    • Saudi Arabia
    • Israel
  • Africa
    • South Africa
    • Rest of Africa      

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