What is the Historic and Current Scenario of the Autonomous Ships Market?
The autonomous ships market has seen considerable growth due to a variety of factors.
• In recent times, the autonomous ships market has witnessed significant expansion. Its size is expected to increase from $7.71 billion in 2024 to $8.17 billion in 2025, corresponding to a compound annual growth rate (CAGR) of 6.0%.
Factors contributing to growth during the historical period include industry initiatives and pilot projects, advances in early technology, concerns regarding maritime safety, initiatives in military & research, and changes in trade and transportation.
What is the Market Size Forecast for the Autonomous Ships Market?
The autonomous ships market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market for autonomous ships is predicted to experience robust growth. It is projected to reach a market size of $10.75 billion in 2029, with a compound annual growth rate (CAGR) of 7.1%.
The growth during the forecasted period can be ascribed to factors such as public perceptibility and acceptance, readiness of infrastructure, improvements in safety, trends in the global shipping industry, and demands for environmental sustainability. Foreseen trends for this forecast period comprise the digitization of the maritime industry, enhancements in safety and efficiency, development of regulatory framework, incorporation of environmental regulations, and remote management of the fleet.
What Are The Leading Drivers Of Growth In The Autonomous Ships Market?
The surge in marine accidents due to human errors, leading to substantial financial damage, is anticipated to be a key driving factor for the autonomous ship market's expansion. Unmanned vessels or autonomous technology can help prevent accidents caused by human errors, therefore enhancing the potential to lessen onboard incidents. For example, in July 2023, as per a report from the Marine Accident Investigation Branch (MAIB), a government agency in the UK, nearly 700 marine pilots conducted over 96,000 transfers with the aid of pilot ladders, leading to more than 400 incidents. Among these, a quarter were consequential to shackles replacing rolling hitches to secure the side ropes, 23% resulted from the deteriorated condition of the ladders, and 13% took place due to inadequate handhold stanchions. Thus, utilizing autonomous ships to combat the escalating number of accidents attributed to human error and the consequential financial losses might fuel the demand for the autonomous ships market's growth in the upcoming years.
What Are The Major Segments Within The Autonomous Ships Market?
The autonomous ships market covered in this report is segmented –
1) By Autonomy: Fully Autonomous, Remote Operations, Partial Autonomous
2) By Propulsion Type: Fully Electric, Hybrid
3) By End-User: Commercial, Defense
Sub-Segments:
1) By Fully Autonomous: Fully Automated Container Ships, Autonomous Bulk Carriers, Unmanned Surface Vessels (USVs)
2) By Remote Operations: Remotely Operated Cargo Ships, Remote-Controlled Ferries, Teleoperated Fishing Vessels
3) By Partial Autonomous: Assisted Navigation Ships, Autonomous Barges With Human Oversight, Semi-Autonomous Yachts
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Which Trends Are Expected To Transform The Autonomous Ships Market?
Key players in the market are implementing various strategic efforts, such as the creation of fully autonomous vessels, which is anticipated to be a central trend propelling the autonomous ship industry's growth. For instance, Rolls-Royce, a company headquartered in the UK, partnered with Sea Machines Robotics, a firm based in the US, in April 2022 to introduce a new series of mtu NautIQ items aimed at offering cutting-edge smart support systems for the marine sector. This series includes mtu NautIQ CoPilot, a state-of-the-art pilot assist system that autonomously handles pre-planned journeys; mtu NautIQ CoOperate, which facilitates remote command of onboard payloads from locations off the ship; and mtu NautIQ CoDirect, a wireless remote-helm system that lets operators manage vessel functions from distances of up to 1,000 meters. These advancements strive to heighten operational effectiveness, safety, and sustainability in maritime operations, thus reaffirming Rolls-Royce's dedication to spearheading technological progress in the marine industry.
Who Are the Key Players in the Autonomous Ships Market?
Major companies operating in the autonomous ships market include:
• Mitsui E&S Holdings Co. Ltd.
• Siemens AG
• General Electric Company
• Hyundai Heavy Industries Co. Ltd.
• Northrop Grumman Corporation
• Honeywell International Inc.
• ABB Ltd.
• BAE Systems plc
• Nippon Yusen Kabushiki Kaisha
• L3Harris Technologies Inc.
• Rolls-Royce Holding plc
• L3 ASV Global Ltd.
• Wärtsilä Corporation
• Wärtsilä Corporation Inc.
• Valmet Corporation
• Daewoo Shipbuilding & Marine Engineering Co. Ltd.
• Kongsberg Gruppen AS
• DNV GL AS
• Fugro N.V.
• Vigor Industrial LLC
• Rh Marine Ltd.
• Ocean GNS
• ASV Global Limited
• Praxis Automation Technology B.V.
• Automated Ships Ltd.
• SELSAN A.S.
• Autonomous Knight BV
• Mapsea Corp. Ltd.
What Is The Most Dominant Region In The Autonomous Ships Market?
Asia-Pacific was the largest region in the autonomous ships market in 2024. Western Europe was the second largest region in the autonomous ships market share. The regions covered in the autonomous ships market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
