Autonomous Ships Market Competitive Insights and Precise Outlook 2021-2030

The Global Autonomous Ships Market size was valued at USD 6.57 billion in 2019 and is predicted to reach USD 10.74 billion by 2030, with a CAGR of 4.5% from 2020-2030.

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Top Companies: L3 ASV, ABB Ltd., Honeywell International, Marine Technologies LLC, Kongsberg Gruppen, Mitsui O.S.K. Lines, Rolls-Royce, Northrop Grumman, Buffalo Automation, Ulstein Group ASA, Sea Machines Robotics, Inc., Wartsila, Neptec Technologies Corp., Google LLC (Google), Intel Corporation and others.

Market Dynamics and Trends

The global autonomous ships market is proliferating, owing to the upsurge in international sea-trade, soaring demand for cargo, augmentation in marine tourism, escalation in marine security, and stringent environmental regulations.

Additionally, the growing demand for smart ships, and upsurge in competition among manufactures; further supplements the growth of autonomous ships market.

However, complex nature of technology and increasing incidences of cyber-attacks are projected to hamper the autonomous ships market growth.

Moreover, increasing penetration of AI, IoT and advanced navigation technologies, higher adoption of live tracking and integrated radar systems, as well as growing safety concerns regarding the preservation of marine ecosystems, are the factors anticipated to create several lucrative opportunities in the global autonomous ships market in coming future.

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Market Segmentations and Scope of the Study:

The global autonomous ships market share has been analyzed based on autonomy level, fuel type, ship type, component, and geography.

Based on autonomy level, the market is segmented into semi-autonomous and fully-autonomous. Based on fuel type, the market is fragmented into carbon neutral fuels, LNG, electric batteries, and heavy fuel oil/marine engine fuel. Based on ship type, the market is classified into commercial, passenger, and defense. Based on component, the autonomous ships market is classified into hardware and software. Geographic breakdown and analysis of each of the previously mentioned segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America is estimated to account for the major market share in the global autonomous ships market, owing to the increase in overseas trade and cargo. Furthermore, presence of advanced technology, well-established infrastructures, surging marine tourism and high per capita income are the factors anticipated to drive the autonomous ships market growth.

Asia Pacific dominated the global autonomous ships market in the past, but the trend is expected to change during the forecast period. Factors such as growing demand for commercial ships, increasing exports in global trade, presence of harbour in more numbers, as well as evolving emerging economies specifically India and China, are expected in propagating the autonomous ships market growth throughout the forecast period.

Europe is expected to demonstrate a substantial growth in the autonomous ships market, witnessing the highest CAGR values, due to growing demand for cruisers, presence of huge number of ship owners, and conversion of traditional ships into autonomous ships.

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