Dublin, Oct. 11, 2024 (GLOBE NEWSWIRE) -- The "Autonomous Ships Market Report by Component, Level of Autonomy, Fuel Type (Carbon Neutral Fuel, Liquefied Natural Gas, Electric Batteries, Heavy Fuel Oil), Installation, Ship Type, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global autonomous ships market size reached US$ 102.1 Billion in 2023. Looking forward, the market is expected to reach US$ 172.9 Billion by 2032, exhibiting a growth rate (CAGR) of 6% during 2023-2032.
Presently, there is a rise in cargo shipping as it finds extensive application in transporting different goods to distant geographical locations. This, in confluence with the increasing marine accidents on account of human errors, resulting in financial losses and harm to the marine ecosystem, represents one of the key factors catalyzing the demand for autonomous ships across the globe.
Apart from this, a high degree of isolation and the unattractive nature of the job is restricting millennials worldwide from becoming seafarers. This, along with the growing requirement of seagoing professionals for maritime trading, acts as another factor influencing the demand for unmanned ships positively.
Furthermore, the integration of artificial intelligence (AI) and robotics with autonomous ships and advancements in sensor technologies for improved navigation systems is creating a favorable market outlook. Moreover, leading market players are focusing on incorporating the Internet of Things (IoT) and other innovative technologies to reduce the environmental footprint of maritime traffic and improve the efficiency of autonomous marine ventures.
Other major factors, including a significant rise in seaborne trade, increase in maritime tourism, and extensive investments in research and development (R&D) activities to develop reliable and cost-effective functioning of unmanned vessels, are anticipated to impel the market growth.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global autonomous ships market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on component, level of autonomy, fuel type, installation and ship type.
Breakup by Component:
- Hardware
- Software
Breakup by Level of Autonomy:
- Semi-Autonomous
- Fully-Autonomous
Breakup by Fuel Type:
- Carbon Neutral Fuel
- Liquefied Natural Gas
- Electric Batteries
- Heavy Fuel Oil (HFO)
Breakup by Installation:
- OEM
- Retrofit
Breakup by Ship Type:
- Commercial Ships
- Defense Ships
- Passenger Ships
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- ABB Ltd.
- BAE Systems plc
- DNV AS
- General Electric Company
- Honeywell International Inc.
- Kongsberg Gruppen
- L3Harris Technologies Inc.
- Mitsui & Co. Ltd.
- Rolls-Royce plc
- Samsung Heavy Industries Co. Ltd.
- Siemens AG
- Ulstein Group ASA
- Valmet Oyj
- Wartsila
Key Attributes
| Report Attribute | Details |
| No. of Pages | 137 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $102.1 Billion |
| Forecasted Market Value (USD) by 2032 | $172.9 Billion |
| Compound Annual Growth Rate | 6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/suz6co
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