Autonomous Ship Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Autonomous Ship Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Autonomous Ship Market

The autonomous ships market size was valued at USD 5.61 billion in 2023, and the market is now projected to grow from USD 6.11 billion in 2024 to USD 12.25 billion by 2032, exhibiting a CAGR of 9.1% during the forecast period of 2024-2032.

The sector of maritime shipping was hit by the unexpected and widespread problems in connection with the Covid pandemic crisis worldwide. Shutdowns or slowdowns in the production process and in the supply chain, mandatory quarantines for crews and staff, and various other operational restrictions, are all which affect the development of the market. The local government put under a ban all the passenger and cargo vessels that attempted to enter the port as a response of the novel virus which was labeled as COVID-19 then. Thus, some crewmen were trapped on-board and the ship owners were additionally burdened as the ships remained anchored in the waters off the shore. This led to the decline in the autonomous ships market growth.

Vessels that operate without crew are a game-changer for the maritime industry through introducing a number of novel tech-enabled means, processes, and business models with the ability to utterly reform the way vessels tend to run. Three advantages of automated shipping are; more work efficiency, safety of the ship, data-driven operating principles as well as capabilities of the vessel. This factor are anticipated to boost the autonomous ships market share.

Many market agencies have observed the problem of maritime security and they have worked out solutions for this issue. The predicted market expansion is resulted from the rise of the advanced technologies implementations like Artificial Intelligence, Augmented Reality, and Navigational Systems. For example, on the December 2023 contract was awarded by Serco Inc., an expert in provision of professional, engineering, test & evaluation, and management services, to enable the Naval Surface Warfare Center Carderock Division’s (NSWCCD) Naval Architecture and Engineering Department to provide the Autonomy and Vehicle Control Systems contract.

Comprehensive Analysis of Autonomous Ship Market

The autonomous ships market and aerospace & defense industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the aerospace & defense industry. These segmentations are methodically segregated By Autonomy Analysis, By Solution Analysis, By Ship Type Analysis and By End User Analysis. Autonomy classifies the market into the one with a partial automation, the remotely operated, and the fully autonomous. In 2023, the share of the division where employees worked remotely accounted for the greater percentage. According to the solution, the market is divided into the hardware and the software. Hardware businesses will still lead the market in 2023 and be the main force between 2024 and 2032. Based on the ship category, the market is divided into two segments, namely, merchant and defense. The trade segment can be classified into Comprises dry and liquid cargo, container and bulk vessels. According to this classification, the segment is the end-user including line fit and retrofit. In this segment, it is the line fit that enjoys the highest market share in 2023.

Asia Pacific dominated the market share in 2023. The factor contributing significantly to the market growth is the high speed of the region economic development and the big movement of shipping. While UNCTAD report has shown that in 2021 the Asia-Pacific region yet again took the leading position of the world’s cargo handling hub with 64% share of the world’s imports and 42% of the world’s exports, that is 1. 71 trillion USD comes to this.

The top players in the market play a crucial role in the aerospace & defense industry assuring industrial prospectus growth and setting market standards. These players include, ABB (Switzerland), ASELSAN A.Ş. (Turkey), BAE Systems (U.K.), Fugro (Netherlands), GE (U.S.), Honeywell International Inc. (U.S.), Kongsberg Gruppen Maritime (Norway), L3 ASV (U.S.), Northrop Grumman (U.S.), Rolls Royce plc (U.K.), Siemens Energy (Germany), Wärtsilä (Finland), Marine Technologies LLC (U.S.), Ulstein Group ASA (Norway), Mitsui (Japan), Sea Machines Robotics Inc. (U.S.), Neptec Technologies Corp. (Canada).

In May 2023, L3Harris has associated with BigBear.ai to supply modern autonomous surface vessels (ASVs) and AI for the present and future maritime defense systems. As per the contract, L3Harris' ASView system would be incorporated in BigBear by the company. using the ai's predictive computer vision technology to pick up better and taping vessels, providing a higher level of situational awareness and cooperating with maned and unprecedented groups.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 9.1% over 2024 to 2032

Unit Value (USD Billion)

Segmentation

By Autonomy

Partial Automation

Fully Autonomous

Remotely Operated

By Solution

Hardware

Software

By Ship Type

Commercial

Bulk Carriers

Tankers

Dry Cargo

Containers

Others

Defense

By End-User

Line Fit

Retrofit

By Geography

North America (By Autonomy, Ship Type, Solution, End-User, and Country)

U.S. (By End User)

Canada (By End User)

Europe (By Autonomy, Ship Type, Solution, End-User, and Country)

U.K. (By End User)

Germany (By End User)

France (By End User)

Russia (By End User)

Rest of Europe (By End User)

Asia Pacific (By Autonomy, Ship Type, Solution, End-User, and Country)

Japan (By End User)

China (By End User)

India (By End User)

Australia (By End User)

South Korea (By End User)

Rest of Asia Pacific (By End User)

Rest of the World (By Autonomy, Ship Type, Solution, End-User, and Sub-Region)

South America (By End User)

The Middle East & Africa (ByEnd User)


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