The autonomous ship market is valued at +6 billion US dollars by 2019 and is expected to reach +11 billion US dollars by 2024, with an average annual growth rate of + 7.00% from 2019 to 2024. The shipping market is expanding maritime trade, increasing respect for maritime practices and expanding maritime tourism.
Through this range, market share is expected to grow to the highest CAGR for the period.
Depending on the type of vessel, the market share of the autonomous vessel market is estimated to grow at a significant average annual growth rate over the forecast period, as various vessels are used in maritime trade. This, combined with the demand for lower operating costs, as they are integrated into automation systems, is expected to increase the number of autonomous vessels.
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Key Market Segments:
Key Market Player:
The major players in the autonomous ships market include Wartsila (Finland), Kongsberg Gruppen (Norway), Northrop Grumman (US), Rolls-Royce (UK), and General Electric (US). Rolls-Royce and Kongsberg Gruppen are key market players engaged in contracts to increase the adoption of autonomous ships.
Rolls-Royce Holdings plc. is a leading player in the marine engines market and a strong technology innovator. The company has adopted the expansion strategy and continues to receive contracts for various segments from recreational and commercial to defense vessels. It has a strong presence in North America, where it has received several contracts, especially for recreational vessels, such as yachts. The launch of its new subsidiary in the Middle East indicates its strategy to expand in the region. The company has also added new products to its portfolio, indicating its focus on innovation and being compliant with the latest emission norms.
Wartsila (Finland) is one of the major manufacturers of automation systems for marine vessels. The company is focused on increasing its share by developing new products and acquiring other players in the market. In November 2018, Wärtsilä successfully completed a round of test procedures of its automated dock-to-dock solutions. In the presence of the Norwegian Maritime Authority (NMA), the system was tested on the ferry, “Folgefonn,” for full dock-to-dock capability, with the autonomous operation being utilized uninterrupted for the entire route, visiting all three ports serviced by the ship.
On the basis of ship type:
On the basis of autonomy:
- Passenger Cruise
- Bulk carriers
- Dry cargo
- Gas tankers
- Research vessels
- Nuclear Submarines
- Aircraft Carriers
On the basis of end-use:
On the basis of the solution:
- Fully Autonomous
- Remote Operations
- Partial Automation
On the basis of Region:
- Communication & Connectivity
- Intelligent Awareness Systems
- Alarm Management Systems
- Surveillance & Safety Systems
- Navigation Systems
- Global Positioning System (GPS)
- Inertial Navigation System (INS),
- Optical and Infra-red Cameras
- High-resolution Sonar
- Reliability, health & safety management
- Ship Information Management Systems
- Ballast Management Systems
- Thruster Control Systems
- Machinery Management Systems
- Power Management Systems
- Propulsion Control Systems
- Health Monitoring System
- Fleet Management Software
- Data Analysis Software
- Artificial Intelligence
- Machine Learning
- Computer Vision
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The increasing demand for commercial vessels from Europe and the Asia Pacific is expected to bring the market to a halt in the autonomous ship market during the forecast period.
- North America
- Asia Pacific
- Rest of the World (RoW)
Based on its recent use, segmentation in the autonomous ship market is expected to be at the highest CAGR for this period. It is expected that the number of new shipbuilding orders will increase due to the increase in the volume of maritime trade around the world, which will lead to an increase in demand for autonomous vessels.
Europe is expected to dominate the autonomous ship market from 2019 to 2024.
Europe is expected to show the highest growth potential in the autonomous ship market over this period. Although the shipbuilding industry is weak, growth in demand for autonomous vessels and cruise ships in Europe is expected to stimulate the market in this region. In addition, Scandinavian countries such as Norway and Denmark are investing and are already at the forefront of autonomous shipbuilding.
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Table of Content:
Chapter 1 Global Autonomous Ships Market Overview
Chapter 2 Global Economic Impact on Autonomous Ships Industry
Chapter 3 Global Autonomous Ships Market Competition by Manufacturers
Chapter 4 Global Autonomous Ships Production, Revenue (Value) by Region (2012-2018)
Chapter 5 Global Autonomous Ships Supply (Production), Consumption, Export, Import by Regions (2012-2018)
Chapter 6 Global Autonomous Ships Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Autonomous Ships Market Analysis by Application
Chapter 8 Autonomous Ships Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Autonomous Ships Market Forecast (2018-2023)
Chapter 13 Appendix
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