New York, United States , Nov. 22, 2023 (GLOBE NEWSWIRE) -- The Global Autonomous Ships Market Size is to grow from USD 4.24 Billion in 2022 to USD 10.19 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 9.2% during the projected period. Factors driving the market's development involve increased demand for efficient and sustainable maritime transportation solutions, developments in automation technologies, and a growing emphasis on reducing greenhouse gas emissions in the shipping industry.
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The global autonomous ships market is a fast-growing sector of the maritime industry that involves the development, deployment, and use of unmanned and self-navigating vessels. This market represents a paradigm shift away from traditional crewed ships and toward technologically advanced vessels that navigate and operate autonomously by utilizing cutting-edge technologies such as artificial intelligence, sensors, GPS, radar systems, and advanced communication networks. Increased investments in autonomous ship ventures from a variety of countries around the world, acceptance of entirely autonomous commercial and military vessels, and increased use of automated systems to reduce human error are all expected to support the growth of autonomous ships. Furthermore, collaboration among maritime stakeholders, technology providers, and regulatory agencies is crucial to enabling the seamless integration of autonomous ships into the existing maritime ecosystem. As technology advances and legal frameworks evolve, the global autonomous ships market has the potential to reshape the future of marine transportation.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on Global Autonomous Ships Market Size, Share, and COVID-19 Impact Analysis, By Autonomy (Partial Automation, Remotely Operated, and Fully Autonomous), By Solution (Hardware and Software), By Ship Type (Commercial and Defense), By End User (Line Fit and Retrofit), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032
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The fully autonomous segment is expected to grow at the highest CAGR in the global autonomous ships market during the forecast period.
The global autonomous ships market is divided into three categories based on autonomy: partial automation, remotely operated, and fully autonomous. The fully autonomous ship sector, among these, is predicted to develop at the fastest CAGR in the global autonomous ships market over the forecast period. The advantages include faster turnaround, shorter port stays, cheaper operating costs, no mishaps due to human mistake, and lower freight prices. Advanced maneuvering and navigation systems based on GPS and sensors would enable effective ship movement without the need for human interaction.
The hardware segment accounted for the largest revenue share of the global autonomous ships market in 2022.
The global autonomous ships market is divided into hardware and software based on the solution. The hardware segment contributed the most revenue share of the global autonomous ships market in 2022. Sensors, GPS devices, automated navigation systems, propulsion & auxiliary systems, and other hardware components are becoming more popular, which contributes to segment growth.
The commercial segment is expected to hold the largest share of the global autonomous ships market during the forecast period.
The global autonomous ships market is divided into commercial and defense segments based on ship type. The commercial segment is expected to account for the majority of the global autonomous ships market during the forecast period. Growth is attributed to increased tourism and international seaborne trades. Increased cargo shipments increase demand for vessels and sailors, raising operating costs and accelerating the adoption of automated systems in commercial vessels.
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Asia Pacific is anticipated to hold the largest share of the global autonomous ships market over the predicted timeframe.
The Asia-Pacific region, which includes China, Japan, South Korea, and Singapore, has some of the world's busiest ports and shipping lanes. The need to address traffic congestion, labor shortages, and safety concerns is driving interest in autonomous ships in this region. Furthermore, the presence of major shipbuilding and technology firms in countries such as South Korea and Japan aids in the development of self-driving ships.
During the forecast period, North America is projected to expand at an accelerated rate in the global autonomous ships market. North America, particularly the United States and Canada, has been a pioneer in the adoption of autonomous technologies in a variety of industries. The region is interested in autonomous ships for maritime applications such as surveillance, research, and defence.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the Major vendors in the Global Autonomous Ships Market include BAE Systems, GE, Honeywell International Inc., Kongsberg Maritime, L3Harris Technologies, Inc., Northrop Grumman, Rolls-Royce plc, Siemens Energy, Wärtsilä, Fugro, Hyundai Heavy Industries, and Others.
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Recent Development
- In July 2023, ABS Approves Fully Autonomous Ship Framework The "APExS-auto framework" was developed as part of the MEGURI 2040 fully autonomous ship program by Nippon Yusen Kabushiki Kaisha (NYK), Monohakobi Technology Institute (MTI), and Japan Marine Science Inc. (JMS). To govern berth-to-berth autonomous navigation operations, the APExS-auto framework is designed using a systems engineering approach. It covers the entire range of operations, from onboard activities to remote operations center supervision.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Autonomous Ships Market based on the below-mentioned segments:
Global Autonomous Ships Market, By Autonomy
- Partial Automation
- Remotely Operated
- Fully Autonomous
Global Autonomous Ships Market, By Solution
- Hardware
- Software
Global Autonomous Ships Market, By Ship Type
- Commercial
- Defense
Global Autonomous Ships Market, By End User
- Line Fit
- Retrofit
Global Autonomous Ships Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Pacific Asia
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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