Global Autonomous Ships Market Size, By Type (Commercial, Passenger, and Defense), By Fuel Type (Carbon Neutral Fuels, LNG, Electric Batteries, and Heavy fuel Oil/Marine Engine Fuel), By End Use (Line-fit, and Retrofit), By Component (Hardware, and Software), By Autonomy (Partially Autonomous, Remotely Controlled Ship, and Fully Autonomous), and by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Trend Analysis, Competitive Market Share & Forecast, 2016-26
- Published Date: January 2020
- Report ID: BWC19376
- Available Format: PDF
- Page: 180
Global 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.
Global 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.
Increase 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.
Increase 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 vessels.
Anticipated 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.
Risk 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.
Complexity 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.
Global 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.
Global 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.
Global 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.
Global 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.
Global 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.
Global 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.
The 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.
Scope of the Report
By Fuel Type
• Carbon Neutral Fuels
• Electric Batteries
• Heavy fuel Oil/Marine Engine Fuel
By End Use
• Partially Autonomous
• Remotely Controlled Ship
• Fully Autonomous
• North America
• Asia Pacific (APAC)
• Latin America
• Middle East & Africa
• ABB Ltd.
• Honeywell International
• L3 ASV
• Marine Technologies LLC
• Kongsberg Gruppen
• Northrop Grumman
• Mitsui O.S.K. Lines
• Ulstein Group ASA
• Automated Ships Ltd.
• ASV Global
• Vigor Industrial
• Other Prominent Players
Business 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.
Customization 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 report:
Additional Company Information
• With five additional company detail analysis
• Additional country analysis
• Detailed segment analysis
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