Autonomous Ships Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027

Autonomous Ships Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027

The global autonomous ships market is anticipated to register an impressive CAGR in the forecast period, 2023-2027. Factors such as the rise in the seaborne trades and the growing demand for autonomous ships that can minimize human interaction are primarily driving the demand for the global autonomous ships market. Also, the surge in demand for cargo transportation through marines and the need to ensure operational safety during transportation activities are expected to influence the market demand in the forecast period.

Huge Number of Cargo Transportation Activities Drives the Market Growth

There is a rise in the demand for cargo transportation activities using the waterways. Marine transportation is considered a safe and secure process as a large number of cargoes can be efficiently transported to other ports without any problems. It uses less time to transport the cargo from one place to another than road and airways and is considered less expensive to ship the goods. According to United Nations Conference on Trade and Development, approximately 80% of the volume of international goods is transported by sea and is widely used by developing countries. The market players are working on the modernization of the commercial vessels and are actively integrating advanced technologies like navigation systems and advanced sensors, amongst others, in the ships, which is expected to create the path for autonomous ships. Autonomous ships reduce human effort and are considered beneficial to ensure high operational safety during transportation activities. The growing demand to ensure an efficient transportation process through waterways is expected to fuel the demand for the global autonomous ships market over the forecast period.

Growing focus on Operational Safety of Ships Fuels the Market Growth

Autonomous ships do not have any crew present to control the operations on the ship. The autonomous ships are equipped with advanced technologies, including artificial intelligence, cloud computing, the internet of things, and others, to control their operations. The other method to control the operations of autonomous ships is through the control station located on the land. Autonomous ships are able to control all the operations without any human interference, which ensures that the human error is less, and the accident rate is low. They are equipped with advanced sensors, developed radar and LIDAR modules, infrared cameras, and automatic identification systems to ensure the safe operation of ships. Also, cargo-hauling accidents, tugboat accidents, shipyard accidents, and other accidents can be significantly reduced to a greater extent by using autonomous ships. The need to improve the operational safety of ships during traveling and the growing popularity of connected technology is expected to propel the growth of the global autonomous ships market over the next five years.

Market Segmentation

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. Based on ship type, the market is divided into bulk carriers, tankers, passenger & cruises, cargo, containers, and others. Based on fuel type, the market is divided into carbon neutral fuels, liquefied natural gas, electric batteries, and heavy fuel oils (HFO). Based on end use, the market is divided into commercial, defense, passenger. The global autonomous ships market is studied in major regions, namely North America, Asia-pacific, Europe & CIS, South America, Middle East and Africa. In terms of country, the United States is anticipated to hold a significant market share due to the early adoption of advanced technologies and the presence of major market players in the country.

Market Players

Northrop Grumman, ABB Ltd., L3 ASV, Mitsui O.S.K. Lines, Wärtsilä, Marine Technologies LLC, Kongsberg Gruppen, Honeywell International, Ulstein Group ASA, Rolls Royce, are the major market players operating in the global autonomous ships market.

Report Scope:

In this report, global autonomous ships market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Autonomous Ships Market, By Level of Autonomy:
• Semi-Autonomous
• Fully Autonomous
• Autonomous Ships Market, By Ship Type:
• Bulk Carriers
• Tankers
• Passenger & Cruises
• Cargo
• Containers
• Others
• Autonomous Ships Market, By Fuel Type:
• Carbon Neutral Fuels
• Liquefied Natural Gas
• Electric Batteries
• Heavy Fuel Oils (HFO)
• Autonomous Ships Market, By End Use:
• Commercial
• Defense
• Passenger
• Autonomous Ships Market, By Region:
• North America
• United States
• Canada
• Mexico
• Asia-Pacific
• China
• India
• Japan
• Thailand
• Indonesia
• Australia
• South Korea
• Europe & CIS
• Germany
• France
• United Kingdom
• Spain
• Italy
• Netherlands
• Russia
• Poland
• South America
• Brazil
• Argentina
• Middle East & Africa
• Saudi Arabia
• Iran
• Israel
• UAE
• Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global autonomous ships market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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