Autonomous Ships Market Overview:
Autonomous ships are the next generation vessels with no
crewmembers onboard, which is directed from a shore-operating center. The shore
masters and engineers monitor and control ship navigation and performance with
the help of detectors, sensors, high-resolution cameras, and advanced satellite
communication systems. The components such as sensors, automated navigation,
propulsion, auxiliary systems, GPS tracker, and others present in the ship,
help in deciding per the environment.
Autonomous Ships Market Forecast and Trends
The global Autonomous Ships Market is anticipated to grow
nearly at a CAGR of 4.4 % and expected to reach USD 14.7 Billion by 2026. The driving factor for the global
autonomous ships market is due to its ability to tackle several issues related
to marine transportation such as fatality, adverse climate situations, and
criminal activities. Moreover, it can use space in ship design efficiently,
better fuel effectiveness, and a decrease in transportation time. Global
autonomous ships market has a unique tool, which performs essential tasks such
as energy supervision, equipment health monitoring, and analytical and remote
maintenance for autonomous ships. Besides, it provides a higher level of
safety, as there is no possibility of human errors except technical issues.
A surge in demand for cargo transportation through
marines, and operational safety of ships boosting the growth of the market of
autonomous vessels. Improvement in marine infrastructure, particularly in
developing countries, and an increase in freight transport through marines is
opportunistic for the autonomous ships market expansion. Each of these factors
is anticipated to have a definite impact on the autonomous ships market during
the forecast period 2016-2026.
in Demand for Cargo Transportation through Marines
Surge in demand for the transportation of cargo through
waterways, due to the reason that the number of shipments is efficiently
transported to the other ports, owing to the safe and secure environment of
marine transportation. Besides, cargo ships are less expensive for transporting
goods to road and air transitions. Also, it can carry more cargo from one place
to another within a short duration.
in Operational Safety of Ships
Autonomous ships are equipped with technologies such as
artificial intelligence, IoT, cloud computing, and other advanced technologies
or their operations, which are remotely controlled from the control station on
land. It helps in reducing the number of accidents occur due to human error as
these autonomous ships are equipped with various advanced sensors, developed
radar, infrared cameras, automatic identification system, and LIDAR modules, and
others to provide safer operation of the vessel. Besides, grounding of ships,
shipyard accidents, tugboat accidents, cargo-hauling accidents, and others are
reduced to some extent by implementing automated features on ships. Hence,
developments in automation help in increasing the operational safety of
Trend in Ships Transportation
The demonstrations and testing of autonomous ships of
large firms in the field of marine have propelled different countries to start
the production of autonomous vessels.
of Exploitation by Hacking
The autonomous marine uses IoT technology, which is
connected to the internet. The hacker can misuse the navigational data through
hacking can bring severe issues to the ships. So, such risk in cargo ships is
anticipated to impede the autonomous ship's market growth.
of the Network
The number of components is required for the proper
operations of the autonomous marine, which creates a complex structure for the
overall system and generates massive data. In the case of autonomous ships, the
navigation system depended on some third-party infrastructure such as satellite
communication, which further makes the network complex as the components are
fitted as per the demand of the service providers. Thus, the complexity of the
network and its high cost are the factors anticipated to hinder the autonomous
ship's market growth.
Autonomous Ships Market: Type
Based on Type, the Autonomous Ships Market segmented into
Commercial, Passenger, and Defense. Based on ship type, the commercial segment
is expected to contribute the highest share during the forecast horizon due to
a surge in the number of ships and implementation of a secure way to transport
goods along with continuous upgradations and development. The passenger segment
is anticipated to register the highest CAGR due to the increase in the adoption
of technology along with the demand for automation in the transport sector.
Autonomous Ships Market: Fuel Type
Based on Fuel Type, the Autonomous Ships Market
segregated into Carbon Neutral Fuels, LNG, Electric Batteries, and Heavy fuel
Oil/Marine Engine Fuel. The heavy fuel oil/marine engine fuel segment is
projected to maintain its dominant position throughout the forecast horizon,
due to its characteristics such as high density and high viscosity and
implementation of high alkaline cylinder lubrication for neutralizing the acid
generated by high Sulphur content in HFOs. The electric batteries segment
estimated to grow at the highest CAGR during the forecast period.
Autonomous Ships Market: End Use
Based on End-use, the Autonomous Ships Market bifurcated
into Line-fit, and Retrofit. The line-fit segment of the autonomous ships
market expected to grow at the highest CAGR during the forecast period due to
the increasing seaborne trade across the world.
Autonomous Ships Market: Component
Based on Component, the Autonomous Ships Market
bifurcated into Hardware and software. The software segment is expected to have
the highest growth due to the adoption of systems with in-built components such
as Artificial Intelligence, IoT, advanced navigation systems, and others to
improve the ship operation.
Autonomous Ships Market: Autonomy
Based on Autonomy, the Autonomous Ships Market segregated
into Partially Autonomous, Remotely Controlled Ship, Fully Autonomous. Fully
Autonomous segment is anticipated to grow at a significant rate in the forecast
period 2016-2026 due to the less involvement of human, which will eventually
decrease the human error, and cut down the labor cost.
Autonomous Ships Market: Regional insights
By geography, the global Autonomous Ships Market
segregated into North America, Europe, Asia Pacific, Middle East & Africa,
and Latin America. Europe is expected to augment at the highest CAGR, owing to
the adoption of autonomous technology in marine transport along with the
implementation of new technologies in the region. Asia-Pacific is expected to
maintain the highest revenue contribution during the forecast period due to the
increase in the sale & production of ships and the constant adoption of
trending technologies along with the speedy adoption of automation.
objective of the Study:
To analyze and forecast the global Autonomous
Ships Market size of the market, in terms of value.
To examine the careful market segmentation
and forecast the market size, in terms value, based on the region by segmenting
the Global Autonomous Ships Market into five regions, namely, North America,
Europe, Asia Pacific, Middle East, South America and their leading countries.
To outline, categorized and forecast the
global Autonomous Ships Market based on the Type, Fuel Type, End Use,
Component, and Autonomy.
To examine competitive developments like
technological advancement, services, and regulative framework within the global
Autonomous Ships Market.
To highlight the impact analysis of the
factors, affecting the market dynamics such as drivers, restraints,
opportunities, and challenges.
To strategically profile the key players and
comprehensively analyze their market shares along with detailing the
competitive landscape for market leaders.
of the Report
By Fuel Type
Carbon Neutral Fuels
Heavy fuel Oil/Marine Engine Fuel
By End Use
Remotely Controlled Ship
Asia Pacific (APAC)
Middle East & Africa
Marine Technologies LLC
Mitsui O.S.K. Lines
Ulstein Group ASA
Automated Ships Ltd.
Other Prominent Players
Questions answer by the report
How will the market drivers, restraints and
opportunities affect the market dynamics?
What will be the market size in terms of
value and volume and market statistics with a detailed classification?
Which segment dominates the market or region
and one will be the fastest growing and why?
A comprehensive survey of the competitive
landscape and the market participant players.
Analysis of strategy adopted by the key
player and their impact on other players.
Scope for the Client
Client satisfaction is our first and last priority and
that is why BlueWeave Consulting offers customization according to Company’s
specific needs. The following customization options are available for the
With five additional company detail analysis
Additional country analysis
Detailed segment analysis