Global Autopilot System on the Water Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Autopilot System on the Water Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

An autopilot is a mechanical, electrical or hydraulic system which can maintain a vessel on a predetermined course or bearing without the need for human intervention. Using a direct or indirect connection with a vessel’s steering mechanism, the autopilot relieves the crew from the task of manually steering the ship. The vessel's course is automatically maintained by the water autopilot system, computer-controlled equipment. In order to maintain the desired course, it is designed to automatically control the vessel's heading using the input from a magnetic compass sensor or by using GPS waypoints. The technology is used to automate the steering of the ship, freeing the skipper from the tiresome responsibility of keeping a precise course. The water autopilot system is used to provide the ship's skipper with a more precise heading, which may be combined with the GPS system to maintain the ship's path without human intervention.

Market Overview:

The latest research study on the global Autopilot System on the Water market finds that the global Autopilot System on the Water market reached a value of USD 597.71 million in 2023. It’s expected that the market will achieve USD 899.04 million by 2029, exhibiting a CAGR of 7.04% during the forecast period.

The autopilot system on the water market in the US is the biggest in the world. Due to the rising demand for autopilot systems in the commercial shipping industry, the autopilot system on the water market in the US saw substantial development. As the world's largest manufacturer of commercial shipping vessels, the US represents a sizable market for autopilot systems. The maritime business is one that is quickly increasing in the US. In recent years, the marine sector has benefited greatly from technological improvements. As a result, there is now more of a need for autopilot system on the water in this area. The need for autopilot system on the water in this area is projected to increase as commercial vessels, yachts, and other recreational boats become more popular and is likely to fuel the autopilot system on the water market share.

Technological autonomous automation operations to drive the market growth

The autopilot system on a water is capable of working in dangerous situations, such as when the water is moving violently. The autopilot system on the water provides a hassle-free experience for both passengers and personnel by determining the route and direction. It effectively controls the route deviation while using less energy. One of the factors pushing the implementation of autopilot systems on the water and, thus, favorably influencing autopilot system on a water market growth is the rise in the usage of container and cargo ships for the delivery of packages.

High Initial Investments and Maintenance Cost to Hamper market Growth

The market for autopilot system on the water is anticipated to face challenges due to high maintenance costs over the forecast period. Compared to other navigational aids, the cost of upkeep for autopilot systems is predicted to be greater. During the projection period, a high initial investment is expected to provide a hindrance to the market's expansion for autopilot system on the water. Compared to other navigating aids, installing autopilot systems is expensive. The use of autopilot systems in small fishing vessels is anticipated to be constrained by the expensive initial expenditure.

Region Overview:

In 2022, the market share of North America region will be 49.54%.

Company Overview:

Garmin Ltd.
Garmin Ltd. (shortened to Garmin, stylized as GARMIN, and formerly known as ProNav) is an American, Swiss-domiciled multinational technology company founded in 1989 by Gary Burrell and Min Kao in Lenexa, Kansas, United States, with headquarters in Olathe, Kansas. Since 2010, the company is legally incorporated in Schaffhausen, Switzerland. The company specializes in GPS technology for automotive, aviation, marine, outdoor, and sport activities. Due to their development in wearable technology, they have also been competing with activity tracker and smartwatch consumer developers such as Fitbit and Apple.

Furuno Electric Co., Ltd

Furuno Electric Co., Ltd. is a Japanese electronics company whose main products are marine electronics, including marine radar systems, fish finders, and navigational instruments. Since its inception in 1948, when the world's first fish finder was commercialized, FURUNO has been responding to the needs of the maritime industry through developing various types of navigation and communications equipment. The company also manufactures global positioning systems and medical equipment, and entered the weather radar market in 2013.

Garmin Ltd. is one of the major players operating in the Autopilot System on the Water market, holding a share of 17.22% in 2023.

Segmentation Overview:

Among different product types, Electrical segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Commercial Ships segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Autopilot System on the Water market covered in Chapter 3:

Nanjing Toslon
JRC
Furuno Electric Co., Ltd
Brunswick Corporation
Tokyo Keiki Inc.
Garmin Ltd.
ONWA Marine Electronics
Anschütz GmbH
NKE Marine Electronics
AMI-TMQ
Coursemaster Autopilots Pty Ltd
Teledyne FLIR LLC
ComNav
Navitron Systems Ltd.

In Chapter 4 and Chapter 14.2, on the basis of types, the Autopilot System on the Water market from 2019 to 2030 is primarily split into:

Mechanical
Electrical
Hydraulic

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Autopilot System on the Water market from 2019 to 2030 covers:

Leisure Ships
Commercial Ships
Military Ships

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)