Autonomous Ships Market

Autonomous Ships Market Size (2023-2028):

The Global Autonomous Ships Market was worth US$ 4.11 billion in 2022 and is anticipated to reach a valuation of US$ 6.5 billion by 2028 and is predicted to register a CAGR of 9.60% during 2023-2028.

Autonomous ships are ships built remotely, in which all operations are carried out by people located on the high seas. There is a need for a reliable and high-quality communication system between unmanned ships and coasts. Autonomous Ships are based on integrated sensor technology, control algorithms, communication, and connection processes. Similarly, they take advantage of the fusion of dynamic location data and navigation, marine automation, satellite, and location references. The control system used for autonomous lines is based on RADAR technology. An independent ship control system is connected to the simulator. Autonomous transport uses control algorithms to generate detailed 3D maps of the operational area to ensure safe operation. The sensors are used to identify problematic conditions, such as unexpected objects at sea, dangerous weather conditions, or collision risks.

Market Growth:

The market is driven by factors such as the increase in world maritime trade, the increase in marine navigation, the increased demand for autonomous security ships, and the rise in tourism.

Market Drivers: 

Most sea casualties are caused by human error. This is a severe problem, and Autonomous Ships are introduced to overcome this. The autonomous ship is designed with higher load capacity and lower wind resistance, which reduces human error, and the number of accidents and improves operations and process optimization. Meanwhile, the crew payment and the lack of crew accommodation provide financial savings. The driving force behind the autonomous ships market is that it can solve many of the problems associated with maritime transport, such as bad weather and criminal activity. In ship design, you can also use space efficiently, increase fuel efficiency and shorten transport time. 

In the autonomous ship market, there are special tools to perform essential tasks such as energy monitoring, equipment status monitoring, analysis, and remote maintenance of autonomous vessels, along with a high level of security. During the forecast period, the autonomous ship business will allow wireless observation and control operations. To operate a ship remotely, you need a sophisticated decision support system. In terms of advanced technology, the demand for the autonomous driving market is expected to increase within the predicted period.

Market Restraints:

But the control system involved in the autonomous ship market is a very complicated process. As a person operates the control system on the coast, it is possible to make mistakes. These factors can slow the growth of the global market.

Market Recent Developments:

• Yara Birkeland is a 120-container autonomous container ship currently under construction. Yarra International initially plans to launch a crewed vessel in 2020. With the consistent implementation of independent functions, ships are presumed to conduct autonomous uncrewed operations by 2022.

• In December 2018, Rolls-Royce, one of the pioneers of autonomous technology, worked with Finnish, Finland's state ferry operator, to successfully demonstrate the world's first fully autonomous ferry, Falco.

• Based in Norway, DNV GL participates in many projects for autonomous vessels. One of these projects is the NFAS (Norwegian Autonomous Ship Forum), which has the support of the Norwegian government.

• Rolls-Royce and Intel have partnered to design sophisticated, intelligent transport systems. These smart connected and advanced data-based systems are foreseen to improve the safety of commercial vessels for owners, operators, cargo owners, and ports.

• In December 2017, Rolls-Royce and Mitsui O.S.K. The line announced that they had begun a joint study of an intelligent advisory-type recognition (IAS) system that detects obstacles near vessels equipped with advanced sensors and provides immediate operational support information to personnel on board.

AUTONOMOUS SHIPS MARKET REPORT COVERAGE:

Market Segmentation:

Autonomous Ships Market - By Autonomy:

• Semi-Autonomous

• Remotely Controlled

• Fully Autonomous

Since complete autonomous vessels are expected to be marketed by 2020, market sales were mainly driven by semi-autonomous vessels. The ship is preinstalled with components and systems such as sensors and navigation systems, which play a vital role in smooth operations.

Autonomous Ships Market - By Solution:

• Systems

• Software

• Structures

The systems and software sectors occupied the dominant market share in 2018 as the implementation of automation systems increased in already manufactured vessels.

Autonomous Ships Market - By Ship Type: 

• Commercial

• Passenger

• Defense

The commercial sector dominated the market and, as cargo shipments increased, the demand for ships and sailors increased, which increases operating costs, accelerating the adoption of more automation systems for commercial ships. The system is expected to reduce segmentation costs and provide more space for cargo, driving segment growth in the coming years.

Market Reginal Analysis:

The Global Autonomous Ships Market Report includes the segmentation of regions:

• North America - U.S, Canada

• Europe - Norway, Germany, Sweden

• Asia Pacific - China, India, Japan

• Latin America - Brazil, Mexico, Argentina

• Middle East and Africa - Middle East, Africa

Countries in Europe, such as Norway, Germany, Russia, Sweden, and the United Kingdom, are making significant investments in this field as investments in commercial and military autonomous vessels increase. 

In terms of revenue, the Asia-Pacific autonomous ship market dominated the business in 2018 and is predicted to maintain market dominance during the forecast period. Most of the region's growth can be attributed to countries like China, which are some of the best shipping countries in the world. China has a commanding market position as the most considerable bulk and container port. 

Europe's autonomous ship market is estimated to see the fastest CAGR during the forecast period due to the increased demand for cruise ships and autonomous vessels in the region. In addition, Europe has the most shipowners in the world. These shipowners are contributing to regional growth as the adoption of autonomous systems and components to modernize existing vessels increases.

Leading Company:

Rolls-Royce and Kongsberg Gruppen are the main market players involved in contracts and acquisitions to increase sales of automation systems and autonomous vessels for a variety of applications.

Market Key Players:

1. Yara, Rolls-Royce

2. Kongsberg

3. Spotify

4. Uber

5. Airbnb

6. ASV Global

7. Mitsui O.S.K

8. Lines/Mitsui Engineering & Shipbuilding Co.

9. Automated Ships Ltd.

10. K-MATE, Hronn

11. Vigor Industrial