Developments in maritime innovation software and technological advancements in sensors are expected to drive the demand for global autonomous ships market in the forecast period, 2023-2027.
According to TechSci Research report, “Autonomous Ships Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global autonomous ships market is anticipated to witness impressive growth in the forecast period, 2023-2027. Autonomous ships or maritime autonomous surface ships, or autonomous container ships are crewless vessels that are used to transport either bulk cargo or containers over water with minimal or no human interaction. By using advanced technologies like machine learning and artificial intelligence or by a nearby manned ship, remote monitoring and controlling of the autonomous ship is achieved. Various components such as GPS system, propulsion, and auxiliary system, sensors, automated system are integrated into the autonomous ship to help it make informed decisions during the sail. The global autonomous ships market is driven by the development of next-generation autonomous vessels and increased demand for situational awareness vessels.
However, increased complexity in the network systems and concerns regarding data security and privacy may restrain the growth of the global autonomous ships market in the forecast period.
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The global autonomous ships market is segmented into level of autonomy, ship type, fuel type, end use, regional distribution, and competitive landscape.
Based on the level of autonomy, the market is bifurcated into semi-autonomous and fully autonomous. The fully autonomous segment is expected to witness the fastest incremental growth over the forecast period due to the increased investments in the development of autonomous ships, especially in European countries.
Based on ship type, the market is divided into bulk carriers, tankers, passenger & cruises, cargo, containers, and others. Cargo is expected to account for a significant market share in the forecast period. It is the safe and secure nature of the sea transportation method which allows the cargo to move effectively around the sea. Also, the cargo ships are less expensive to deliver products and transport the products in a shorter amount of time.
Based on end use, the market is divided into commercial, defense, and passenger. The commercial segment is expected to capture the highest market share over the next five years owing to the rise in tourism and international seaborne trades. Also, the development of autonomous naval vessels and integration of sensor systems in commercial vehicles such as passenger ferries and cargo vehicles are driving the demand for autonomous technology in the commercial segment.
On the basis of regional analysis, the Asia-pacific region is expected to hold the largest market share in the forecast period. The Asia-pacific region has been witnessing rapid economic growth over the past few years, including maritime trade activities. The surge in the sea trade activities has accelerated the demand for ships to transport goods to different places around the globe.
Major market players operating in the global autonomous ships market are:
- Northrop Grumman
- ABB Ltd.
- L3 ASV
- Mitsui O.S.K. Lines
- Marine Technologies LLC
- Kongsberg Gruppen
- Honeywell International
- Ulstein Group ASA
- Rolls Royce
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“Governments around the world have implemented strict regulations and safety norms to ensure passenger and cargo safety while sailing through the ship. There are many safety laws associated with traveling, which are termed Safety of Life at Sea (SOLAS). They provide various norms ensuring autonomous maritime safety, and it covers ship system equipment, pollution prevention, and response, navigation communications search and rescue (NCSR), and ship design and construction. Strict implementation of marine safety norms and the growing focus of manufacturers on the safety of ships are expected to create lucrative growth opportunities for the global autonomous ships market till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Autonomous Ships Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Level of Autonomy (Semi-Autonomous, Fully Autonomous), By Ship Type (Bulk Carriers, Tankers, Passenger & Cruises, Cargo, Containers, Others), By Fuel Type (Carbon Neutral Fuels, Liquefied Natural Gas, Electric Batteries, Heavy Fuel Oils (HFO)), By End Use (Commercial, Defense, Passenger), and By Region”, has evaluated the future growth potential of global autonomous ships market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global autonomous ships market.
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