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Autonomous Ships Market

Autonomous Ships Market by Fuel Type (Carbon Neutral Fuels, LNG, Electric, and Heavy Fuel Oil/Marine Engine Fuel), by Ship Type (Commercial, Passenger, and Defense), by Component (Hardware and Software), by Application (Commercial, Military), by Type (Semi-autonomous, Fully-autonomous, and remotely autonomous), and by Regions | Global Market Forecast 2022-2028

Report Id: SNS/A&D/1650 | June 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Autonomous Ships Market Size was valued at USD 6.58 billion in 2021 and US$ 7.22 billion in 2022, expected to reach USD 12.58 billion by 2028, and grow at a CAGR of 9.7% over the forecast period 2022-2028.

An autonomous vessel is an unmanned vessel where all processes are performed automatically with limited human interaction. Many of the activities of private ships are monitored and operated by a coastal person. The control system used by the independent ship is based on many technologies such as radar, sonar, thermal imaging, HD cameras, and LiDAR. Technological advances have increased communication at sea and the development of sensory technology is expected to increase the demand for private vessels. Automatic vessels are controlled and monitored using out-of-board control centers with human intervention. In addition, private vessels have their entire operation controlled by advanced applications, allowing them to make their own decisions and actions.

Autonomous Ships Market Revenue Graph

Private ships gain independence by using technologies found in private cars and autopilots. The sensors provide information with the help of infrared and visual spectrum cameras provided by radar, sonar, lidar, GPS, and AIS, which will be able to provide information for use on the go. Additional data such as weather data and deep-sea navigation and traffic systems from coastal areas help the ship to plan a safe route. The data is then processed by intelligence systems either on the ship itself or on the coast, providing the right route and pattern of decision. However, Automation on ships around the world has increased the risk of cyber threats as these ships follow satellite routes during their voyages.

MARKET DYNAMICS:

KEY DRIVERS:

  • Rising investment

  • Enhance ship system

RESTRAINTS:

  • Cyberattacks

OPPORTUNITIES:

  • Sensor technology advancement

  • Anti-virus protection enhancement

CHALLENGES:

  • Lack of skilled person

  • Upgradation of technology

THE IMPACT OF COVID-19

According to the International Chamber of Shipping, maritime vessels make up about 90 percent of all international trade. As a result of the COVID-19 outbreak, cargo and passenger ships around the world have been removed from ports by local authorities, which is why 300,000 merchant sailors have been trapped at sea for months, in addition to their contractual contracts. the ICS and the International Air Transport Association issued a joint declaration calling on governments to take urgent action to make it easier to change flights. ICS estimates that every month about 100,000 sailors reach the end of their employment contract and need to be repatriated. However, many authorities use laws to prevent passersby from passing through their area, either to return home or to join a ship.

COVID-19, however, has led to a number of MASS-related projects being suspended. Yara Birke land was launched in Romania in February 2020 and was expected to arrive at the Vard Breivik shipping port in Norway in May 2020, where control and navigation systems would be installed and tested. As a result of this epidemic and changes in the look of ships around the world, Yara International halted construction. It is expected that the economic impact of COVID-19 will result in further suspension of the private shipping project.

Furthermore, factors such as increased demand for marine freight transportation and ship operational safety fuel market expansion. However, the possibility of exploitation through system hacking and growing network complexity impede industry growth. Furthermore, the trend toward complete automation in the transportation sector, as well as an increase in maritime safety standards, are likely to generate various prospects for market expansion. Major drivers driving market expansion include increased operational safety for ships and quick advances and improvements in the maritime industry. Furthermore, systems with built-in components such as AI, IoT, advanced navigation systems, and others improve ship operation, propelling the autonomous ships industry forward.

The market is divided into two segments based on application: commercial and military. According to the forecast period, the commercial segment of the Global Autonomous Ships Market is predicted to grown at the fastest rising CAGR. The expansion in seaborne trade and tourism around the world is related to the segment's growth. During the forecast period, the military segment is also expected to increase significantly.

The autonomous ships market is divided into three categories: totally autonomous, remotely operated, and partial automation. The increased investment in creating autonomous ships in the European region, particularly in Scandinavian countries, can be ascribed to the expansion of the completely autonomous section of the autonomous ships market.

MARKET KEY PLAYERS:

Major key players in Autonomous Ships Market are listed as belows, Raytheon Technologies Corporation, General Dynamics Corporation , Northrop Grumman Corporation, Thales, Leonardo Company, BAE Systems, L3Harris Technologies, Inc, Elbit Systems Ltd, and other players.

MARKET SEGMENTATION:

by Fuel Type

  • Carbon Neutral Fuels

  • LNG

  • Electric

  • Heavy Fuel Oil

  • Marine Engine Fuel

by Ship Type

  • Commercial

  • Passenger

  • Defense

by Component

  • Hardware

  • Software

by Application

  • Commercial

  • Military

by Type

  • Semi-autonomous

  • Fully-autonomous

  • Remotely autonomous

Autonomous Ships Market Segment Chart

REGIONAL ANALYSIS:

The market for autonomous ships has been researched for North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific is expected to have the greatest share of the global market. Over the years, Asia Pacific has seen fast economic expansion, which has increased maritime trade. This increase in sea trade has resulted in a greater demand for ships to convey manufactured commodities throughout the world. As a result, the demand for autonomous ships in the Asia Pacific region has skyrocketed.REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Autonomous Ships Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 6.58 Billion
Market Size by 2028 US$ 12.58 Billion
CAGR CAGR of 9.7% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Fuel Type (Carbon Neutral Fuels, LNG, Electric, and Heavy Fuel Oil/Marine Engine Fuel)
• By Ship Type (Commercial, Passenger, and Defense)
• By Component (Hardware and Software)
• By Application (Commercial, Military)
• By Type (Semi-autonomous, Fully-autonomous, and remotely autonomous)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Raytheon Technologies Corporation, General Dynamics Corporation , Northrop Grumman Corporation, Thales, Leonardo Company, BAE Systems, L3Harris Technologies, Inc, Elbit Systems Ltd, and other players.
DRIVERS • Rising investment
• Enhance ship system
RESTRAINTS • Cyberattacks


Frequently Asked Questions (FAQ) :


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Autonomous Ships Market, by Fuel Type

8.1 Carbon Neutral Fuels

8.2 LNG

8.3 Electric

8.4 Heavy Fuel Oil

8.5 Marine Engine Fuel

 

9. Autonomous Ships Market, by Ship Type

9.1 Commercial

9.2 Passenger

9.3 Defense

 

10. Autonomous Ships Market, by Component

10.1 Hardware

10.2 Software

 

11. Autonomous Ships Market, by Application

11.1 Commercial

11.2 Military

 

12. Autonomous Ships Market, by Type

12.1 Semi-autonomous

12.2 Fully-autonomous

12.3 Remotely autonomous

 

13. Regional Analysis

13.1 Introduction

13.2 North America

13.2.1 USA

13.2.2 Canada

13.2.3 Mexico

13.3 Europe

13.3.1 Germany

13.3.2 UK

13.3.3 France

13.3.4 Italy

13.3.5 Spain

13.3.6 The Netherlands

13.3.7 Rest of Europe

13.4 Asia-Pacific

13.4.1 Japan

13.4.2 South Korea

13.4.3 China

13.4.4 India

13.4.5 Australia

13.4.6 Rest of Asia-Pacific

13.5 The Middle East & Africa

13.5.1 Israel

13.5.2 UAE

13.5.3 South Africa

13.5.4 Rest

13.6 Latin America

13.6.1 Brazil

13.6.2 Argentina

13.6.3 Rest of Latin America

 

14 Company Profiles

14.1 Raytheon Technologies Corporation

14.1.1 Financial

14.1.2 Products/ Services Offered

14.1.3 SWOT Analysis

14.1.4 The SNS view

14.2 General Dynamics Corporation

14.3 Northrop Grumman Corporation

14.4 Thales

14.5 Leonardo Company

14.6 BAE Systems

14.7 L3Harris Technologies, Inc

14.8 Elbit Systems Ltd.

 

15. Competitive Landscape

15.1 Competitive Benchmarking

15.2 Market Share analysis

15.3 Recent Developments

 

16. Conclusion

 

 

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Secondary Research

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