Autonomous Ships Market Report 2024-2032: Total Industry Revenue Forecast to Reach $173 Billion by 2032, Driven by the Significant Rise in Seaborne Trade and Increase in Maritime Tourism


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 AttributeDetails
No. of Pages137
Forecast Period2023-2032
Estimated Market Value (USD) in 2023$102.1 Billion
Forecasted Market Value (USD) by 2032$172.9 Billion
Compound Annual Growth Rate6%
Regions CoveredGlobal

For more information about this report visit https://www.researchandmarkets.com/r/suz6co

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