Autonomous Ships Market Research Report - Global Forecast till 2030

Autonomous Ships Market Research Report: Information by Autonomy (Partial Automation, Remote Operations and Full Automation, Ship Type (Commercial and Defense), Solution (Systems, Software and Structures), Fit (Line Fit and Retrofit) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2030

ID: MRFR/A&D/6631-HCR | October 2022 | Region: Global | 133 Pages         

Autonomous Ships Market

Autonomous Ships Market Size Valued at USD 15 Billion, market Grow at a CAGR Of 7% by 2020 -2030

Segmentation

By Autonomy Partial Automation Remote Operations Full Automation
By Ship Type Commercial Defense
By Solution Systems Software Structures
By Fit Line Fit Retrofit

Key Players

  • ABB (Switzerland)
  • Kongsberg (Norway)
  • Honeywell International
  • Inc. (US)
  • Wartsila (Finland)
  • Rolls-Royce PLC (UK)

Drivers

  • These ships are expected to promote factors like safety
  • efficiency
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Autonomous Ships Market Overview


Autonomous Ships Market Size Valued at USD 15 Billion, market Grow at a CAGR Of 7% by 2020 -2030


Some of the major and propelling market factors that are likely to be held responsible for driving this market towards excellent growth include the increasing investments in autonomous projects, followed by the development of next-generation of autonomous vessels. Also, there has been an excellent increase in the quantum of demand for situational awareness vessels.


 COVID Analysis


In April 2020, the ICS and the International Air Transport Association (IATA) were registered to have issued a joint call that was demanding governments take urgent steps and measures to facilitate the crew change flights. The pandemic has been a tough call for the autonomous ships market especially since the pandemic had hit. In June 2020, the ICS has globally estimated that every month, a rough amount of 100,000 seafarers are likely to reach the end of their employment contract and hence, need to be repatriated. However, most of the jurisdictions have come forward and implemented continuous and restrictive rules for the group of seafarers that are transiting their jurisdiction are likely to either return home or to join a vessel.


The arrival of the novel COVID-19 has, however, caused several MASS-related projects to be hampered and hence, put on hold. Yara Birkeland was launched in Romania in February 2020 and was likely to be arriving at the Vard Brevik shipyard in Norway in May 2020, where it was projected to be fitted with control and navigation systems followed by undergoing testing. As a result of the pandemic and the major change in the global shipping outlook, Yara International has paused its further construction. It is expected the economic impact of the COVID-19 outbreak may result in a further stoppage in autonomous ships projects in the global market premises.


Market Dynamics


 Drivers


Autonomous ships are being considered as a good feature and hence, are likely to hold a significant market potential by several companies across geographies. These ships are expected to promote factors like safety, efficiency, and others like sustainable operations in the marine industry. The South Korean projects have been undertaken that aim to develop key technologies related to autonomous navigation and system autonomy while laying a strong and reliable foundation for early commercialization. It is anticipated that the South Korean project will capture approximately 50% of the market share of the global autonomous vessel market by 2023, as a part of the global forecast period that will be ending in 2028. These factors are likely to lead the global market towards excellent growth during the ongoing period.


 Restraints


Automation in ships in worldwide premises increases the risks of cyber threats as these ships are known to follow the satellite routes during their voyages. In the coming years, as a part of the forecast period, the market operators of marine vessels are expected to connect their ships to the growing onshore networks.


The installation of automation systems is being considered as the first step towards the complete automation of vessels as it helps to enable the integration of crucial sub-systems of marine vessels with each other through local networks. The widespread use of Big Data analytics for the development of smart ships is expected to enhance operational efficiency and further, promise a better degree of safety of the vessels. However, this automation is also expected to render the ships increase on the vulnerability to market threats from hackers. With the increasing instances of online threats and potential attacks increasing across the globe, the Maritime Safety Committee (MSC) followed by the International Maritime Organization (IMO) has come forward and introduced temporary guidelines for the prevention of cyberattacks on ships’ systems.


 Technology Analysis


The autonomous ships market trends are witnessing an excellent degree of increase in the rising number of investments in autonomous projects. This market fact is likely to be followed by the development of next-generation of autonomous vessels. Also, there has been an excellent increase in the quantum of demand for situational awareness vessels. The technological advancements and deployment of the same in various market functions and segments to support the working and reliability are thus, likely to lead the defense autonomous ships market towards growth by the end of the forecast period in 2028.


Segment Overview


The autonomous ships industry has been witnessing the emergence of excellent market trends that are likely to prove to be helpful to the global market and hence, lead the market towards excellent growth. The global market segments are as follows:


Based on ship type


The autonomous ships market has been bifurcated into the ship type and includes both commercial and defense.


Based on autonomy, the global market has been divided into partial automation, remote operations, and full automation.


By fit, the autonomous ships market size has been divided based on the fit and includes line fit and retrofit. The line-fit segment had dominated the market in 2018 and is expected to register a higher growth rate during the forecast period that ends in 2028. There has been an increasing demand for new ships owing to growing sea trade across the globe is driving this segment’s growth.


Based on solution


The autonomous ships market has been classified on the solution and includes systems, software, and solutions. The systems segment of the market dominated the market in 2018 and similar trends are expected to be registered at the highest CAGR during the forecast period that ends in 2028. Systems such as machine health information systems, communication and connectivity, and others like navigation systems provide an enhanced degree of safety, security, and communication to sailors.


Regional Analysis


The global autonomous ships market has been segmented, based on region, as well. The market operations are prevalent in regions like North America, Europe, Asia-Pacific, and the rest of the world. The market in the Asian Pacific region is likely to dominate the global autonomous ships market in 2028 owing to the historic market trends followed by the increasing domestic ship production in countries such as China. However, the market in the European region is expected to be the fastest-growing during the forecast period that ends in 2028. There has been increasing growth in the marine tourism industry that is driving the growth of the autonomous ships market in the region.


Competitive Landscape


The autonomous ship ports are increasing their trade and moving forward with their expansion in the global market premises because of the performance of the following market players:



  • ABB (Switzerland)

  • Kongsberg (Norway)

  • Honeywell International, Inc. (US)

  • Wartsila (Finland)

  • Rolls-Royce PLC (UK)


 Recent Developments


In 2019, South Korea had gained a major market momentum and announced the launch of a prominent project to develop MASS by 2025. The project that has been announced aims to build vessels with the third level of autonomy as defined by the IMO.


The Korean Ministry of Commerce, followed by the Industry and Energy and the Ministry of Oceans and Fisheries have set up a specific working and professional group and have also, known to have allocated a market sum of USD 132 million to the project.


Sensors, as a part of the market, are expected to play a pivotal role in the rising development of connected and autonomous ships. In 2018, a prominent inclusion of the autonomous ships market - Kongsberg Maritime introduced a new and integrated technology platform for the working of autonomous ships to support the rising degree of situational awareness through the processes of sensor fusion technologies, where the traditional navigation sensors such as radar and sonar are likely to be combined with cameras and lasers.


In 2018, the commercial segment of the market had dominated the global market and it is expected to register a higher CAGR during the forecast period that ends in 2028, as well. There has been an increasing demand for reduced operational costs and further, there is the rising use of autonomous ships for seaborne trade is driving the growth of the segment in the global market premises.


Report Overview


The defense autonomous ships market report has been prepared to help the market investors understand the functioning of the market and the factors that prevail in the market during the period that ends in 2028. The report covers various market aspects; like the various market ways to cover the losses that have been incurred during the outbreak of the pandemic.



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Frequently Asked Questions (FAQ) :

Autonomous ships market’s growth rate in the coming years can be close to 7%.

The commercial ship type dominates the market.

Increasing demand for new ships owing to growing sea trade across the globe is driving the segment growth.

Full autonomous ships in greater demand in the market as they offer benefits like reduced labor costs, enhanced security and convenience.

Cybersecurity threats can slow down the market growth rate in the years to follow.