The global Autonomous Ships Market size is expected to reach USD 13.4 billion by 2025, registering a CAGR of 13.5% over the forecast period, according to a new study conducted by Grand View Research, Inc. Autonomous ships use several systems and components including sensors, propulsion systems, and intelligent navigation systems involving the use to Artificial Intelligence (AI) and Internet of Things (IoT). Use of such systems reduces the operational cost of ships, which is one of the key factors driving the market growth.
Autonomous ships offer several direct and indirect benefits.
Direct benefits can be listed at the level of vessel that include more
efficient use of crew and their skills, more efficient use of ship space, and
increased fuel efficiency. Shipping companies would witness a positive effect
in terms of revenue with autonomous applications as a result of reduction in
cost of employing sailors along with the increased cargo space on the vessel.
Moreover, autonomous shipping permits improved optimization of processes and
operations. Real-time data is used for optimizing the operations thereby
providing economies of scale at the company’s level. Additionally, service
quality and safety during the fleet would be highly improved through the use of
autonomous shipping.
Shipping companies are increasingly investing in developing
and testing the practical applications of autonomous ships to gain insights on
the possible lags in critical applications of these vessels, such as defense.
Although huge amount of time would be invested in simulation and testing of
unmanned vessels across critical applications, maritime system and service
providers are developing advanced and intelligent maritime systems to be
deployed in these unmanned ships. The growing acceptance of remotely controlled
systems and software coupled with increasing investment in autonomous maritime
environment is expected to provide several growth avenues for the autonomous
ships market.
Furthermore, advent of autonomous shipping would pave the
way for new suppliers, especially the suppliers of hardware and software system
and technology suppliers in the maritime industry. Additionally, the unmanned
ships require less reaction time in performance of systems as compared to
systems used in cars and airplanes. Therefore, marine industry becomes more
lucrative for system and software suppliers to enter. However, stringent
regulatory environment pertaining to the use of autonomous vessels makes
maritime industry a tough business environment to enter.
Related
Press Release@ Autonomous
Ships Market Report
Further
key findings from the study suggest:
·
The fully autonomous ships segment is
expected to register a CAGR of more than 17% over the forecast period, owing to
the reduced manpower in autonomous shipping environment
·
The systems and solutions segment held the
largest market share in 2018, primarily due to the increased deployment of
these systems in multi-purpose vessels
·
The commercial segment dominated the
autonomous ships market in 2018 and is expected to hold the largest revenue
share by 2025, owing to the safety and ease in deployment of autonomous systems
in commercial vessels
·
Asia Pacific is expected to account for the
highest market share, followed by Europe, by 2025 owing to the high investments
in R&D of autonomous maritime environment across countries, especially
China
·
ABB, Rolls-Royce, Wartsila, Kongsberg
Gruppen, Rh Marine, L3 ASV, and Siemens are some of the key players operating
in the market
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Grand View Research has segmented the global
autonomous ships market on the basis of autonomy level, solutions, end use, and
region:
Autonomous Ships Autonomy Level Outlook (Revenue, USD
Million, 2015 - 2025)
·
Semi-autonomous
·
Fully Autonomous
Autonomous Ships Solutions Outlook (Revenue, USD Million,
2015 - 2025)
·
Systems & Software
·
Structure
Autonomous Ships End-use Outlook (Revenue, USD Million,
2015 - 2025)
·
Commercial
o
Passenger Cruise
o
Bulk Carrier & Container Ships
o
Tankers
o
Others
·
Defense
o
Submarines
o
Aircraft Carriers
o
Destroyers
o
Frigates
Autonomous Ships Regional Outlook (Revenue, USD Million,
2015 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K.
o
Germany
o
France
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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