Dublin, Sept. 18, 2024 (GLOBE NEWSWIRE) -- The "Autonomous Boats Market by Propulsion (Fully Electric, Fuel-Powered, Hybrid Electric), Boat Size (<20 Feet, 20-40 Feet, >40 Feet), Type (Cruising Boats, Tug & Work Boats, Combat Boats), Autonomy and Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global autonomous boats market is projected to grow from USD 558 million in 2024 to USD 872 million, at a CAGR of 9.3% during the forecast period from 2024 to 2029.
The marine sector is growing rapidly due to factors such as increased international trade, technological advancements, and stringent environmental regulations. Increasing expansion and investments in coastal properties particularly in emerging nations is also driving the autonomous boats market. Kongsberg Maritime (Norway), ABB (Switzerland), Rolls-Royce PLC (UK), Hyundai Heavy Industries (South Korea), and Fugro (Netherlands) are some of the leading players operating in the autonomous boats market.
Europe is projected to lead the global autonomous boats market due to its advanced maritime infrastructure, strong technological innovation, and supportive regulatory environment. The region's robust maritime industry, combined with a culture of innovation and government-backed R&D funding, enhance significant growth in autonomous boat technology. Europe's focus on enhancing safety, efficiency, and environmental sustainability in marine operations along with its diverse maritime activities creates high demand for the adoption of autonomous boats solutions.
Research Coverage
The study covers the autonomous boats market across various segments and subsegments. It aims at estimating the size and growth potential of this market across different segments based on propulsion, capacity, operation and region. This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their solutions and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Market Insights
- The Fuel Powered segment to account for highest market share in the autonomous boats market during the forecast period
- The recreational boats segment to account for highest CAGR in the autonomous boats market during the forecast period
- The 20-40 Feet segment is projected to hold the highest market share during the forecast period
- The Partially autonomous segment is estimated to contribute highest market share during the forecast period
- The European market is estimated to lead the market
Key Attributes
| Report Attribute | Details |
| No. of Pages | 220 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $558 Million |
| Forecasted Market Value (USD) by 2029 | $872 Million |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Growing Maritime Tourism
- Emergence of Green Boating Solutions and Focus on Sustainability
- Advancements in Marine Technology
- Growing Use of Automation to Prevent Human Errors
- Growing Maritime Sports Industry
- Increasing Demand for Maritime Security and Surveillance
- Rising Demand for Situational Awareness in Vessels
- Restraints
- Vulnerability Associated with Cyber Threats
- Integration with Existing Infrastructure
- Opportunities
- Development of High-Power Batteries
- Revision and Formulation of Marine Safety Regulations in Several Countries
- Advancements in Sensor Technology for Improved Navigation
- Development of Enhanced Propulsion Systems
- Challenges
- Cost-Intensive Customization of Marine Automation Systems
- Lack of Skilled Personnel to Operate Marine Automation Systems
- Lack of Common Standards for Data Generated from Different Subsystems
- Regulatory Barriers
Analysis of Use Cases
- Use of 5G in Autonomous Mobility Chain for Local Public Transport in Keil
- China Launches Its First Autonomous Container Ship in Service
- Autonomous Marine Survey by Deep BV
Topics Covered in the Report
- Trends/Disruptions Impacting Customer Business
- Value Chain Analysis of Autonomous Boats Market
- Market Ecosystem
- Regulatory Landscape
- Trade Data
- Technology Analysis
- Pricing Analysis
- Investment and Funding Scenario
- Business Model
- Total Cost of Ownership
- Bill of Materials
- Technology Roadmap
- Volume Data
- Impact of AI in Autonomous Boats
- Technology Trends
- Impact of Megatrends
- Supply Chain Analysis
- Patent Analysis
Companies Featured in the Report
- Kongsberg Maritime
- ABB
- Rolls-Royce PLC
- Hyundai Heavy Industries
- Fugro
- Wartsila
- Siemens
- L3Harris ASV
- Sea Machine Robotics
- Subsea Craft Ltd.
- Metal Shark
- Bae Systems
- Navier
- Callboats
- Roboat
- Buffalo Automation
- Raymarine
- Navico Group
- Furuno Electric Co. Ltd.
- Garmin Ltd
- Anschutz GmbH
- Comnav
- Dockmate
- Seebyte
- Praxis Automation Technology B.V.
For more information about this report visit https://www.researchandmarkets.com/r/cf7vix
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