Autonomous Ships-Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Autonomous Ships Market is accounted for $5.80 billion in 2020 and is expected to reach $13.65 billion by 2028 growing at a CAGR of 11.3% during the forecast period. The increasing use of automated systems to scale back human errors and risks, development of next-generation autonomous vessels and increasing development of software are the major factors driving the market growth. However, vulnerability related to cyber threats is restraining the market growth.
Autonomous ships are watercraft directed by artificial intelligence. As a kind of seafaring drone, these vessels can function independently and may be unmanned. They have the inherent to redefine the maritime industry. To give the ship's artificial intelligence a defined image, the autonomous ships use a fleet of sensors that are together with sensor fusion. High-definition cameras, radar, sonar, thermal imaging, and LiDAR are few of the sensors that are been utilized in these kind of ships. The autonomous ships permit improved optimization of processes & operations and thus are increasingly explored by the maritime industry.
Based on end user, the linefit segment is estimated to have a lucrative growth due to the increased investments in naval defence by various countries and rise in seaborne trade activities across the globe. By geography, Asia Pacific is going to have high growth during forecast period. Asia Pacific has witnessed rapid economic development over the years, increasing maritime trade. This uplift in sea trade has eventually led to an increasing demand for ships to transport manufactured goods worldwide. Thus, the increasing number of ships has uplift the demand for autonomous ships in the Asia Pacific region.
Some of the key players profiled in the Autonomous Ships Market include ABB, Mitsui E&S Holdings Co., Ltd, Marlink, Marine Technologies LLC, Ladar Ltd, L3Harris Asv, Kongsberg, Hyundai Heavy Industries, Honeywell International Inc, General Electric, Fugro, DNV Gl, Buffalo Automation, BAE System and Aselsan A.S. Company.
Estimated Market Size in 2020:
USD 5.80 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 13.65 billion
Tables, Graphs & Figures
Labeling Technique, Product, Application, End User, Treatment Type, Type, Method, Sales Channel and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Fully Autonomous
• Partial Automation
• Remote Operations
• Maritime Autonomous Ships
• Small Autonomous Ships
• Fully Electric
Ship Types Covered:
Fuel Types Covered:
• Carbon Neutral Fuels
• Liquefied Natural Gas (LNG)
• Electric Batteries
• Heavy fuel Oil (HFO)/Marine Engine Fuel
End Users Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years (2019, 2020, 2021, 2025, and 2028)
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Autonomous Ships Market is majorly driven by increasing use of automated systems to scale back human errors and risks,development of next-generation autonomous vessels and increasing development of software.
The linefit segment is growing at a highest CAGR owing to the increased investments in naval defence by various countries and rise in seaborne trade activities across the globe.
Europe dominated with a significant market share due to the factors such as high adoption of autonomous technology in the transport segment ,constant development and adoption of new technology in this region.
Asia Pacific market is growing at a highest CAGR owing to the rapid economic development over the years and increasing maritime trade in the region.
Key players in Autonomous Ships Market include ABB, Mitsui E&S Holdings Co., Ltd, Marlink, Marine Technologies LLC, Ladar Ltd, L3Harris Asv, Kongsberg, Hyundai Heavy Industries, Honeywell International Inc, General Electric, Fugro, DNV Gl, Buffalo Automation, BAE System and Aselsan A.S. Company.
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