USD 8.84 billion
Global Autonomous Ships Market Size, Share, Growth Analysis, By Autonomy Level(Semi-Autonomous and Fully Autonomous), By End Use(Commercial and Military) - Industry Forecast 2024-2031
Report ID:
SQMIG20G2014 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|
Tables:
59 |
Figures:
77
Global Autonomous Ships Market Insights
Global Autonomous Ships Market size was valued at USD 8.84 billion in 2022 and is poised to grow from USD 10.04 billion in 2023 to USD 27.85 billion by 2031, growing at a CAGR of 13.60% during the forecast period (2024-2031).
The shipping sector's autonomy is anticipated to lower maritime emissions, enabling significant fuel savings, and save the operating cost of ship operators by roughly 20%. Furthermore, according to the European Maritime Safety Agency (EMSA), human error in shipboard operations was to blame for between 58% and 70% of accidental accidents. This technology is expected to prevent such incidents caused by human mistake on the ship's bridges, hence lowering the number of accidents on board. Sensors, integrated radar systems, and live tracking navigation assemblies are some of the components that autonomous ships benefit from the Internet of Things (IoT), artificial intelligence (AI), and other technologies. These services support following mission strategies, modifying mission completion, and perceiving the surrounding environment with the proper decision logic. Moreover, the advancement in the shipping technology is expected to improve various features such as navigation system including obstacle, collision warning, and route tracking without any human intervention. Additionally, the companies are focusing on advancement of navigation and automation systems that expected to aid in growth of the autonomous ships market in the near future. Growing focus on autonomous ship development among key companies is further expected to propel the market growth. For instance, in July 2023, Mitsubishi Shipbuilding Co., Ltd. has announced participation in the Fully Autonomous Ships joint development program that is administrated by the Nippon Foundation. This program aims to commercialize the fully autonomous ship by 2025.
The Autonomous Ships Market on a global scale is witnessing substantial growth as a result of the technological advancements and the rising consciousness of the stakeholders about the need for efficient and low-cost maritime transportation solutions. Unmanned ships, known also as autonomous vessels or autonomous surface vehicles (ASVs) – are ships that can operate independently from humans. The aim of this market is to transform the maritime industry through onshore improvements of ship performance, reduction of operational expenses, and increasing the overall efficiency of operations. Reducing human errors, which is the major reason behind the maritime accidents is primarily the main cause of the autonomous ships market development. Moreover, self-governing vessels can be utilized for route optimization, consumption and discharge of fuel and the emission of carbon-dioxide which corresponds to the sustainable plans. However, the prevalence of restraining factors and challenges, such as legal and certification issues, is stopping the extensive adoption of autonomous ships. Regulatory frameworks, cyber-attack risks, and the demand for large investments in research and development pose the hurdles for the market growth. Additionally, autonomous technology should be integrated, both within the maritime industry and the regulating bodies, and this will take time and collaborated initiatives. Furthermore, even though the issues of reliability and safety of autonomous systems in the complex maritime environments are predominant, there still lacks a solid solution for these problems.
Despite these challenges, the autonomous ships market opens huge potential for key players in the industry. The convergence of sophisticated sensors, artificial intelligence and machine learning platforms enable autonomous ships to sail safely and effectively in different situations. Moreover, autonomous fleets controlled from onshore control centers give new opportunities for cutting costs and enhancing operational flexibility. In addition, when the whole industry of shipping is on its way to creation of digital and modernized processes, autonomous vessels become a crucial means to raise the competition and generate technology progress.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
commercial
Fastest Growth
commercial
Growth Rate
13.60% CAGR
Global Autonomous Ships Market ($ Bn)
Country Share for Europe Region (%)
Global Autonomous Ships Market By End Use ($ Bn)
Global Autonomous Ships Market By End Use (%)
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Global Autonomous Ships Market Segmental Analysis
Global Autonomous Ships Market is segmented on the basis of end use, solutions, autonomy level and region. By solutions, the market is segmented into systems & software and structure. By end use, the market is segmented into commercial, military. by autonomy level, the market is segmented into semi-autonomous and fully autonomous. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Autonomous Ships Market Analysis by End Use
The commercial segment is expected to be the largest segment of the autonomous ships market during the forecast period. The growth of this segment is attributed to the increasing demand for autonomous ships in the passenger and cargo transportation sectors. The passenger transportation sector is expected to be the major driver of the market, as autonomous ships can provide a safe and efficient transportation option for passengers. The cargo transportation sector is also expected to be a major driver of the market, as autonomous ships can help to reduce the cost of transportation and improve the efficiency of the supply chain.
The military segment is expected to be the fastest-growing segment of the autonomous ships market during the forecast period. The growth of this segment is attributed to the increasing demand for autonomous ships in the defense sector. Autonomous ships can be used for a variety of military applications, such as surveillance, minesweeping, and anti-submarine warfare.
Autonomous Ships Market Analysis by Autonomy Level
Fully autonomous ships are still in the early stages of development, but they are the dominant in the shipping industry. These ships are capable of operating without any human input. They are equipped with advanced sensors and software that allow them to make decisions and take actions without human intervention. Fully autonomous ships offer a number of potential advantages over traditional manned ships, including even greater safety, increased efficiency, and the ability to operate in dangerous or remote areas. However, there are also a number of challenges that need to be addressed before fully autonomous ships can become a reality. These challenges include developing reliable and secure sensors and software, ensuring that fully autonomous ships can operate safely in all conditions, and developing the necessary regulatory framework.
Semi-autonomous ships are currently the growing type of autonomous ship. They are being used in a variety of applications, including short-sea shipping, inland waterways, and fishing. Semi-autonomous ships offer a number of advantages over traditional manned ships, including reduced crew costs, improved safety, and increased efficiency.
Global Autonomous Ships Market By End Use, 2023 (%)
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Global Autonomous Ships Market Regional Insights
With a CAGR of 8.11%, Europe is expected to grow at the fastest rate and account for the largest market share. Autonomous vehicle technology is widely used in this area. The world's first completely autonomous cargo ships, which are already cruising the seas, were developed by nations like Norway. The region is now recognized as a key factor in the evolution of the marine sector towards use of automation. The expansion of the market for autonomous ships in the area is what is bringing in additional investment because new technology is always being developed and then used.
By 2030, the Asia Pacific region would expand by 5.41% CAGR and reach USD 67,229 million. The nations in this region have some of the most sophisticated transportation automation systems in the world, from self-driving cars to self-driving trains. The market for autonomous ships in this region has grown more quickly as a result. The industry is expanding and offering a wealth of new chances for regional growth due to the ongoing acceptance of newer technologies and the accelerating pace of the move towards automation. Currently in its early phases of development, the market for autonomous ships in this region is anticipated to grow quickly over the coming years.
Global Autonomous Ships Market By Region, 2024-2031
- Largest
- Fastest
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Global Autonomous Ships Market Dynamics
Autonomous Ships Market Drivers
Increasing Global Trade and Shipping Activities
- The global maritime industry plays a crucial role in international trade, with shipping being the primary mode of transportation for goods. As global trade volumes continue to increase, there is a growing need for more efficient and reliable shipping solutions. Autonomous ships offer the potential to enhance the capacity, speed, and efficiency of maritime transportation, supporting the demand for increased shipping activities.
Advancements in Sensor and Communication Technologies
- The rapid advancements in sensor technologies, including radar, lidar, cameras, and GPS, have enabled significant progress in autonomous ship development. These sensors provide accurate and real-time data on the ship's surroundings, enabling autonomous navigation, collision avoidance, and environmental monitoring. Additionally, advancements in communication technologies, such as satellite communication and high-speed wireless networks, facilitate reliable and secure data exchange between autonomous ships and shore operators.
Autonomous Ships Market Restraints
Regulatory and Legal Frameworks
- The regulatory and legal frameworks governing autonomous ships are still evolving. There is a need for clear guidelines and international standards to address issues related to liability, responsibility, and compliance with maritime laws. The absence of comprehensive regulations can create uncertainties and hinder the widespread adoption of autonomous ships.
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Global Autonomous Ships Market Competitive Landscape
These market participants are concentrating on different commercial methods to increase their market share. To increase their market share, these businesses participate in alliances, mergers, and acquisitions, as well as contractual agreements. Additionally, some major firms are testing completely autonomous ships, which is expected to revolutionise the shipping sector as a whole.
Autonomous Ships Market Top Player’s Company Profiles
- Kongsberg Gruppen (Norway)
- Rolls-Royce Holdings PLC (United Kingdom)
- Wärtsilä Corporation (Finland)
- ABB Ltd. (Switzerland)
- ASV Global (United Kingdom)
- Sea Machines Robotics, Inc. (United States)
- Yara International ASA (Norway)
- Mitsui O.S.K. Lines, Ltd. (Japan)
- Høglund Marine Solutions (Norway)
- Honeywell International Inc. (United States)
- Wartsila SAM Electronics GmbH (Germany)
- General Electric Company (United States)
- L3 Harris Technologies, Inc. (United States)
- A.P. Moller-Maersk Group (Denmark)
- NYK Line (Nippon Yusen Kabushiki Kaisha) (Japan)
- DNV GL AS (Norway)
- Northrop Grumman Corporation (United States)
- Kymeta Corporation (United States)
- Cargotec Corporation (Finland)
- BAE Systems plc (United Kingdom)
- Maritime Robotics AS (Norway)
- Ulstein Group (Norway)
Autonomous Ships Market Recent Developments
- In May 2023, Wärtsilä announced that it had developed a new autonomous propulsion system for ships. The system, which is based on Wärtsilä's LNG-powered engines, will allow ships to operate without a crew.
- In April 2023, Rolls-Royce announced that it had signed a contract with the Norwegian Coastal Administration to develop an autonomous ferry. The ferry, which is scheduled to be launched in 2025, will be the first autonomous passenger ferry in the world.
- In March 2023, Kongsberg Gruppen announced that it had successfully completed the first autonomous voyage of a commercial ship. The ship, a 16-meter coastal tugboat, was equipped with Kongsberg's autonomous navigation and control system. The voyage took place in the Norwegian Sea and covered a distance of 100 nautical miles.
Global Autonomous Ships Key Market Trends
Modular and Scalable Solutions
- The market is witnessing the development of modular and scalable autonomous ship solutions. These solutions offer flexibility in retrofitting existing vessels or integrating autonomous capabilities into new ship designs. Modular systems allow for step-by-step implementation of autonomous technologies, reducing disruption and costs. Scalable solutions enable customization based on vessel size, type, and operational requirements.
Global Autonomous Ships Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global autonomous ships market is experiencing significant growth and holds immense potential for the maritime industry. Autonomous ships, also known as unmanned or remotely operated vessels, are equipped with advanced technologies that enable them to operate and navigate without onboard human intervention. These vessels have the potential to revolutionize the shipping industry by enhancing safety, efficiency, and sustainability. The market for autonomous ships is driven by several factors. Safety improvement is a key driver, as autonomous ships can eliminate human errors, which are a leading cause of maritime accidents. By utilizing advanced sensors, AI algorithms, and collision avoidance systems, autonomous ships can minimize the risk of collisions, groundings, and other incidents.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 8.84 billion |
| Market size value in 2031 | USD 27.85 billion |
| Growth Rate | 13.60% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Autonomous Ships Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Autonomous Ships Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Autonomous Ships Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Autonomous Ships Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Autonomous Ships Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Autonomous Ships Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Autonomous Ships Market Report Snapshots
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