Global Autonomous Ships Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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Global Autonomous Ships Market: Overview
“The global Autonomous ships Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Autonomous ships can be described as crewless self-sailing vessels provided with various degrees of autonomy.
It includes ships such as remote ships, automated ships, and fully automated ships. The remote ship is designed to control by an ashore operator.
Automated ship functions on pre-programmed software and operates with the provided algorithm. The fully automated ship is able to make decisions on the basis of calculated risk and consequences. Initial applications of autonomous ships include passenger or RORO ships, and bulk carrier ships.
Global Autonomous Ships Market: Dynamics
Increasing adoption of automation technology in order to reduce or avoid accidents caused by human error and increase safety is a major factor driving the growth of the global autonomous ships market. In addition, autonomous ship helps to reduce crewing cost is another factor supporting the growth of the global market.
The autonomous ship also provides fuel and design efficiency of vessel, which is a factor expected to fuel the growth of the target market over the forecast period. Furthermore, growing maritime tourism, coupled with the growth installation of automation technology in passenger ships is a factor expected to propel the growth of the global autonomous ships market during the forecast period.
However, concerns regarding cyber security are a factor that could hamper demand for autonomous ships and restrain the target market during the forecast period.
additionally, the lack of a standard regulatory framework regarding autonomous ships may also affect the growth of the global market. Nevertheless, the growing adoption of automation technology on ships to improve the safety of the passengers can create high revenue opportunities for players in the target market.
Global Autonomous Ships Market: Segment Analysis
As per sensor type, the commercial segment is expected to account for high growth in terms of revenue in the near future. Increasing maritime trade is a key factor anticipated to support the growth of the target segment in the global market.
in addition, the growing adoption of automation technology, coupled with an increasing budget of companies for advanced technology is also supporting the growth of the segment.
As per end users, the line-fit segment is expected to register the highest growth rate in terms of revenue over the forecast period, owing to the increasing adoption of automation on line-fit ships.
Global Autonomous Ships Market: Regional Analysis
The market in Europe is expected to account for a significant share in terms of revenue over the forecast period.
The increasing adoption of advanced technologies in the marine sector for cruise ships and passenger ships is a key factor driving the growth of the target market in countries in the region. In addition, the presence of key manufacturers of autonomous ships is also expected to bolster the growth of the target market in the region.
Market in the Asia Pacific is expected to witness lucrative growth in terms of revenue in the near future. Increasing sea trade in countries in the region is a key factor anticipated to bolster the growth of the target market over the forecast period.
Global Autonomous Ships Market Segmentation:
Segmentation by Autonomy:
- Partial Automation
- Fully Autonomous
- Remote Operations
Segmentation by Solution:
Segmentation by Ship Type:
Segmentation by End Use:
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Wärtsilä Oyj
- Northrop Grumman Corporation
- General Electric Company
- Kongsberg Gruppen ASA
- Rolls-Royce plc
- ABB Ltd
- Siemens AG
- Honeywell International Inc.
- Hyundai Heavy Industries Co., Ltd.
- RH Marine Group
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