Report Ocean published a new report on the ‘Global Autonomous Ships Market’. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
Get a complete report on Autonomous Ships Market’ (Including Full TOC, 200+ Tables & Figures, and charts). –Covers Precise Information on Pre & Post COVID-19 Market Outbreak by Region.
Global Autonomous Ships Market is valued at approximately USD 3.56 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 9.6% over the forecast period 2022-2029.
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Autonomous ships also known as maritime autonomous surface ships are crewless ships and are well-equipped with hardware and software that helps the crew to make decisions that are appropriate for the situation. These ships are gaining high traction in the transport containers or bulk cargo over navigable waters with little or no human interference. Factors such as the growing need for situational awareness in vessels, rising investment in the advancement of software, and increased budgets of shipping companies to integrate ICT in vessels are driving market growth across the globe.
The growing investment in autonomous ship projects is acting as a catalyzing factor that is reinforcing the market growth. For instance, in 2020, the Korean Government unveils the introduction of a new Marine Autonomous Surface Ship (MASS) development project with a budget of around USD 132 million (KRW 160 billion). The objective of this project is to develop MASS that can be remotely operated without a crew on board to capture at least 50% of the market during the initial phase of MASS commercialization by 2025. Accordingly, rising government support, coupled with the increasing investment in autonomous ship projects is anticipated to boost the market growth. Furthermore, revision and formulation of marine safety regulations, as well as rising developments in sensor technology to enhance navigation in autonomous ships are presenting various growth prospects over the forecasting years. However, vulnerability associated with cyber threats and lack of common standards for data generated from different subsystems in ships stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Autonomous Ships Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the growing adoption of autonomous systems in inland vessels and the rising presence of the chief shipbuilding industry. Whereas, the Asia Pacific is expected to grow at the highest growth rate over the forecasting period. Factors such as rapid economic development, along with the rising number of initiatives for the development of autonomous ships by countries such as South Korea, Japan, and China, are burgeoning the market growth in the forecasting years.
Major market players included in this report are:
- Hyundai Heavy Industries
- Kongsberg Martime
- Fugro
- Rolls-Royce PLC
- BAE Systems
- Honeywell International
- Ulstein Group Asa
- Abb Ltd.
- Marine Technologies LLC
- Mitsui O.S.K. Lines
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Level of Autonomy:
Semi-Autonomous
Fully-Autonomous
By Component:
Hardware
Software
By Ship Type:
Commercial ships
Defense ships
Passenger ship
By Fuel Type:
Carbon Neutral Fuels
Liquefied natural gas
Electric batteries
Heavy fuel oils (HFO)
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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This report answers the following key questions:
- How big is the market as a whole in 2022? What rate of market expansion is anticipated between 2023 to 2030?
- Which region would experience a high demand for goods in the years to come?
- What are the variables promoting the market’s expansion?
- Which sub-market will have the most impact on the market?
- What market opportunities exist for established and new players?
- What different short-term and long-term tactics have the market players adopted?
With regard to the COVID-19 Outbreak Impact Analysis:
- In light of COVID-19, the report examined market trends.
- On the basis of the upstream and downstream markets, the study examined COVID-19’s effects on the manufacturing industry’s supply chain.
- We examine how COVID-19 has affected diverse regions and significant nations.
- It is noted how COVID-19 will affect the industry’s future growth.
Examined in the study are:
- Market behavior, risk, and opportunity levels
- An assessment of end-industry behavior and opportunity
- An anticipated timeline for industry recovery.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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