Global Motor Vehicle Steering and Suspension Components Market

Autonomous Cars Market Definition

The autonomous cars market consists of sales of autonomous cars by entities (organizations, sole traders and partnerships) that manufacture autonomous cars for transporting people and goods. An autonomous car, which is also known as a driverless car, is a vehicle capable of guiding itself with minimum or no human involvement. An autonomous car uses a wide range of technology including cameras, sensors, GPS, radars, Artificial Intelligence and other technologies to navigate. To navigate between places, autonomous cars use machine learning and neural networks on huge amounts of image recognition data, which are fed into the system.

The ship repairing market consists of revenue generated by sales of ship repairing services by entities (organizations, sole traders and partnerships) that operate shipyards. Only goods and services traded between entities or sold to end consumers are included. The global ship repairing market is expected to grow from $30.16 billion in 2020 to $32.29 billion in 2021 at a compound annual growth rate (CAGR) of 7.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $39.04 billion in 2025 at a CAGR of 4.9%. The ship repairing market covered in this report is segmented by vessel type into oil and chemical tankers; bulk carriers; general cargo; container ships; gas carriers; offshore vessels; passenger ships and ferries; mega yachts and other vessels, and by application into general services; dockage; hull part; engine parts; electric works; auxiliary services. The increasing seaborne trade is anticipated to drive the growth of the ship repairing market. Seaborne transport, which plays a key role in the development of a country, involves ports, inland water systems, ship repair, shipping and ship building. According to the United Nations Conference on Trade and Development (UNCTAD), international seaborne trade volume increased from 10.7 billion tons in 2017 to 11.0 billion tons in 2018 and is projected to expand at an average annual growth rate of 3.5% during 2019-2024. According to the Indian Ministry of Shipping, approximately 70% of India's value trading and 95% of India's volume is handled by seaborne transport. Upswing activities in sea-borne trade activities increase the need for regular maintenance and repairs. This scenario is expected to augment the demand for the ship repairing market. The COVID-19 pandemic affected ship building and ship repair facilities globally to a great extent. The pandemic has disrupted almost every area of the shipping industry, after a promising 2019. All levels of operations were affected by yard closures, logistical challenges and survey delays, while scrubber retrofitting also declined sharply. For instance, in March 2020, the Italian shipyard Fincantieri has initially suspended manufacturing in its shipyards for two weeks due to the coronavirus crisis, which was then extended for more than a month that has impacted the business. Therefore, the impact of COVID 19 is expected to hinder the growth of the ship repairing market. Major companies in the ship repair sector are concentrating on the development of advanced technology services for ship repair. For example, in February 2020, Maindeck, a modern SaaS for the ship maintenance and repair industry, with a particular emphasis on dry-docking projects, launched a mobile inspection app from which they can delegate access to specific sections of the project. The app operates offline and immediately uploads when internet access is detected. In February 2020, Titan Acquisition Holdings, a bicoastal leader in ship repair and modernization and complex fabrication services for the defense industry, acquired Huntington Ingalls Industries for an undisclosed amount. This acquisition creates opportunities to better serve key defense customers, economies of scale, expanded scope, and performance optimization. Huntington Ingalls Industries, a US-based company, engages in the designing, building, overhauling, and repairing military ships. The major players covered in the global ship repairing market are Hyundai Mipo Dockyard Co., Ltd, China Shipbuilding Industry Corporation (CSIC), Damen Shipyards Group, Sembcorp Marine Ltd., Oman Drydock Company, Cochin Shipyard Limited, United Shipbuilding Corporation, Arab Shipbuilding and Repair Yard, Fincantieri S.p.A, Keppel Offshore and Marine, Orskov Yard A/S, Tsuneishi Holdings Corporation, Swissco Holdings Limited, Egyptian Ship Repair & Building Company, Desan Shipyard, Dae Sun Shipbuilding & Engineering Co. Ltd., Dundee Marine & Industrial Services Pte Ltd. The countries covered in the global ship repairing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global ship repairing market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global ship repairing market is segmented - 1) By Vessel Type: Oil and Chemical Tankers, Bulk Carriers, General Cargo, Container Ships, Gas Carriers, Offshore Vessels, Passenger Ships and Ferries, Mega Yachts and Other Vessels 2) By Application: General Services, Dockage, Hull Part, Engine Parts, Electric Works, Auxiliary Services 3) By End-User: Transport Companies, Military, Others

The driver monitoring system market consists of sales of driver monitoring systems which is used to collect recognizable information about the driver for assessing the capability of the driver to perform the driving task safely. The market consists of revenue generated by the driver monitoring system companies manufacturing the driver manufacturing systems such as facial recognition/ head movement, heart rate monitoring, blink monitoring, steering angle sensor and a pre-collision system. The global driver monitoring systems market is expected grow from $0.96 billion in 2020 to $1.06 billion in 2021 at a compound annual growth rate (CAGR) of 10.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.64 billion in 2025 at a CAGR of 12%. The driver monitoring system market covered in this report is segmented by monitoring type into driver alertness/distraction monitoring; driver fatigue monitoring; drunk driving monitoring; identity recognition and by vehicle type into passenger vehicles, commercial vehicles. Increase in road-safety awareness due to the rise in several on-road accidents caused by the driver due to fatigue and distraction is the major driver for the driver monitoring systems (DMS) market. According to publication by World Health Organization (WHO) in 2020, approximately 1.35 million people lost lives each year due to road traffic injuries. The average rate of deaths per 100,000 population is 27.5, and the risk of a road traffic death is more than three times higher in low-income countries than in high-income countries, which have the average rate is 8.3 deaths per 100,000 population. The DMS is gaining more importance due to the growing need for understanding and adjusting to the driving conditions and reduce the number of accidents. Rise in road accidents due to fatigue, distraction, and lack of alertness in the driver coupled with drinking and driving help the DMS market to witness notable growth. The high cost of certain systems, such as adaptive cruise control (ACC), night vision, lane departure warning system (LDWS), blind-spot detection (BSD), and limiting its adoption only among luxury cars hamper the growth of driver monitoring systems market. The cost of commercial systems is very high ranging between $5000 and $40,000 for building eye-tracking systems. The high cost of these systems ultimately increases the overall cost of cars and reduces the interests of car owners to adopt such systems. Additionally, complex installation procedures for driver monitoring systems is also a major factor that is expected to restrain the growth of the global driver monitoring system market over the forecast period. The global driver monitoring system market is experiencing several technological advances that are expected to boost the market in the forecast period. A rising trend is prominent OEMs (Original Equipment Manufacturers) and MROs (Maintenance Repair and Overhaul) developing advanced detection technologies for drivers of vehicles. For instance, Panasonic Corporation has developed a drowsiness-control technology to detect and predict the level of drowsiness of a person, enabling him/her to remain comfortably awake while driving. Similarly, Mercedes-Benz has developed an innovative attention assist device that can detect when drivers start to get drowsy and prompt them to stop until it's too late. Attention assist monitors the actions of the driver and creates an individual driver profile at the start of each trip, which is then continuously compared with current sensor data. In April 2019, Nidec Corporation acquired Omron Automotive Electronics Co. Ltd for undisclosed amount. Nidec Corporation focuses on module products such as electric power steering (EPS) motors, electric brake motors, etc. and electronic control units (ECU). With the acquisition, Nidec will be able to create new module and systems products by combining Nidec group’s products including motors, pumps, gears with Omron Automotive Electronics’ products such as ECUs and other electronics products. Nidec Elesys is strong in wave radar and camera-related products, while Omron automotive electronics has strengths in laser radar and driver monitoring systems, which will allow two companies to collectively provide a full spectrum of sensors required for autonomous driving in the future. Omron automotive electronics has produced many high-quality control products for the body control system, ECUs for motor control systems, power control systems, and other areas to address the market’s electrification needs. The major players covered in the global driver monitoring systems market are Delphi Automotive PLC, Visteon Corporation, Valeo SA, Continental AG, Robert Bosch GmbH, Seeing Machines, Faurecia, DENSO Corporation, Magna International, Aisin Seiki Corporation Limited (Japan), Veoneer Inc, Magneti Marelli S.p.A, Visteon Corporation (U.S.), Takata Corporation, Johnson Controls Inc, Ford Motor Co., Plessey Semiconductors Ltd., Tata Elxsi Ltd., Tata Elxsi, Jabil Inc., ZF Friedrichshafen, Aisin Seiki Co., Ltd., Mobileye N.V, NVIDIA Corporation, Hitachi Ltd., Stonkam Co., Ltd. The countries covered in the global driver monitoring systems market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global driver monitoring systems market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global driver monitoring systems market is segmented - 1) By Monitoring Type: Driver Alertness/Distraction Monitoring, Driver Fatigue Monitoring, Drunk Driving Monitoring, Identity Recognition 2) By Vehicle Type: Passenger Vehicles, Commercial Vehicles 3) By Component: Interior Camera, Sensors, Other Components

The ship building market consists of sales of ships and related services by entities (organizations, sole traders, and partnerships) that operate shipyards. Shipyards are fixed amenities with fabrication and drydocks equipment capable of building a ship, defined as watercraft typically suitable or intended for other than personal or recreational use. Only goods and services traded between entities or sold to end consumers are included. The global ship building market is expected to grow from $147.98 billion in 2020 to $158.18 billion in 2021 at a compound annual growth rate (CAGR) of 6.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $186.6 billion in 2025 at a CAGR of 4.2%. The ship building market covered in this report is segmented by product into bulkers; tankers; containers; cruise and ferry; others and by application into passenger transportation; goods transportation. The increasing seaborne trade is predicted to contribute to the growth of the ship building market. The rising population, surging purchasing power of consumers, and improving standards of living are increasing the demand for consumer goods leading to high production and rapid industrialization. According to the United Nations Conference on Trade and Development (UNCTAD), international seaborne trade volume increased from 10.7 billion tons in 2017 to 11.0 billion tons in 2018 and is projected to expand at an average annual growth rate of 3.5% during 2019-2024. The manufacturing of eco-friendly and advanced ships is supported by the increasing requirement for efficient and cost-effective transport alternatives for the movement of goods. According to Alliance Experts, transport by sea allows shipping large volumes with lesser cost than that through road, rail, and air transport. This scenario is expected to drive the demand for the ship building market. Stringent environmental regulations are expected to hinder the growth of the ship building market. This is because of the pollution derived from maritime shipping activities that affect air and water quality, and marine and estuarine biodiversity. For instance, the companies dealing in ship building in Finland have to follow all the rules under The Environmental Protection Act, a Finnish law (86/2000) created by the Ministry of Environment. Similarly, in Spain, the ship building companies are required to follow the Act of Air Quality and Protection of the Atmosphere. This scenario is likely to act as a major challenge for the ship building market’s growth. The use of 3D printing technology in ship building is a leading trend being observed in the ship building market in recent years. 3D printing, also known as additive manufacturing, is gaining popularity in every sector connected to manufacturing and engineering, including ship building. The companies operating in the ship building market are collaborating with other players in the industry to adopt advanced manufacturing technologies including 3D printing to enhance their manufacturing capabilities. For instance, in November 2018, Huntington Ingalls Industries, a US-based ship building company, and 3D Systems collaborated to develop additive manufacturing technologies to facilitate the adoption of metal 3D printing in the ship building industry. In March 2019, Hyundai Heavy Industries (HHI) Group and Korea Development Bank (KDB) entered into a definitive agreement to acquire Daewoo Ship Building & Marine Engineering Co., Ltd (DSME). The acquisition is a part of their efforts to support the development of the ship building industry and assist in encouraging local employment and economy. KDB has transferred its shares to DSME against its equity stake in a new company named Korea Ship Building & Offshore Engineering (KSOE). KSOE will operate as a sub-holding company HHI and will control all the shipping activities of the group. Daewoo Ship Building & Marine Engineering Co., Ltd (DSME) is a South Korea-based company engaged in manufacturing commercial and naval ships. The major players covered in the global ship building market are Hyundai Heavy Industries, Daewoo Ship Building & Marine Engineering Co Ltd, Mitsubishi Heavy Industries, Samsung Heavy Industries, BAE Systems Plc, Sumitomo Heavy Industries Ltd, Damen Shipyards Group, Fincantieri Spa, General Dynamics Corp, Huntington Ingalls Industries Inc., Hyundai Heavy Industries Holdings Co. Ltd., Oshima Ship Building Co. Ltd. The countries covered in the global ship building market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global ship building market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global ship building market is segmented - 1) By Product: Bulkers, Tankers, Containers, Cruise and Ferry, Others 2) By Application: Passenger Transportation, Goods Transportation 3) By End-User: Transport Companies, Military, Others

The autonomous commercial vehicle market consists of sales of autonomous commercial vehicles and their related services. Autonomous commercial vehicles are also known as self-driving or robot vehicles. The autonomous vehicle uses various technologies and software such as artificial intelligence, RADAR sensors, light detection & ranging (LiDAR), and others to navigate, control, and drive the vehicle. The global autonomous commercial vehicle market is expected grow from $5.59 billion in 2020 to $7.07 billion in 2021 at a compound annual growth rate (CAGR) of 26.5%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $13.41 billion in 2025 at a CAGR of 17%. The autonomous commercial vehicles market covered in the report is segmented by vehicle into the truck; trailer; bus; others. The increase in government approvals for testing autonomous trucks on public roads drives the growth of the autonomous commercial vehicles market. The governments of major countries are allowing the testing of autonomous vehicles in order to promote the use of commercial vehicles for delivery and other purposes. The California Department of Motor Vehicles (DMV), in April 2019, proposed a regulation that allows companies to deploy or test light-duty autonomous motor trucks or delivery vehicles on the public roads of the state. Under the regulation, the companies can test delivery vehicles that weigh less than 10,001 pounds with an approved permit from DMV. The government approvals for testing autonomous vehicles on roads encourage the customers to have a glimpse of such vehicles, creating a potential opportunity for sale in the near future, thereby driving the demand for autonomous commercial vehicles over the forthcoming years. Increasing concerns for cybersecurity and data privacy acts as a major challenge for the autonomous commercial vehicles market. According to a report on issues in autonomous vehicle testing and deployment published by Congressional Research Service, the USA's policy institute in February 2020, with advances in technology, the concerns for data security and protection of the on-board system against intrusion is increasing. The inbuilt automated components in the vehicle generate a large amount of data about the vehicle, vehicle performance, driver behavior, and vehicle precise location. The protection of autonomous vehicles from hackers is of paramount concern for state and federal governments, service providers, manufacturers, and users. Therefore, with advancements in technology, the concerns for data privacy and security are increased, which in turn, is likely to act as a major restraint for the growth of the autonomous commercial vehicle market. The major players in the autonomous commercial vehicles market are acquiring technology and robotics companies in order to develop advanced technologies. For instance, in March 2019, Daimler AG, a Germany-based multinational automotive corporation agreed to purchase majority stakes in Torc Robotics, a pioneer in autonomous driving, for an undisclosed amount. This acquisition is expected to help Daimler AG to develop and create a technology powerhouse for autonomous vehicles. Torc Robotics was founded in 2005 and is an autonomous commercial vehicle solution provider based in Virginia, USA. Similarly, TuSimple announced a partnership with ZF to co-develop cameras, LiDAR, radar, steering, and automotive-grade central computer ZF ProAI and incorporate them to develop autonomous technologies. The major players covered in the global autonomous commercial vehicle market are Volkswagen, Daimler, Tesla, Denso, Continental, Waymo, BMW AG, Isuzu Motors Limited, General Motors, AB Volvo, Beiqi Foton Motor, Skywell, Dongfeng Motor, SINOTRUK Group,  FAW Jiefang, China Shaanqi, Beiben Trucks, SAIC Hongyan, JMC, Zhengzhou Yutong Bus, King Long Bus, CRRC Electric Vehicle, Xiamen Golden Dragon Bus, Anhui Ankai Automobile. The countries covered in the global autonomous commercial vehicle market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global autonomous commercial vehicle market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global autonomous commercial vehicle market is segmented - 1) By Vehicle: Truck, Trailer, Bus, Others 2) By Automation Level: Driver Assistance, Partial Automation, Conditional Automation, High Automation, Full Automation 3) By Fuel Type: Conventional, Hybrid Vehicle, Electric Vehicle

The electric locomotives market consists of sales of electric locomotives which provide motive power to trains with no payload capacity, and their only use is to pull trains along the tracks. The sales consist of revenues generated by establishments that are primarily engaged in the manufacturing of locomotives and their components such as electric motors, transformer, inverter, and compressor. The global electric locomotives market is expected grow from $6.08 billion in 2020 to $6.47 billion in 2021 at a compound annual growth rate (CAGR) of 6.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $8.96 billion in 2025 at a CAGR of 8%. The electric locomotives market covered in this report is segmented by energy transfer into overhead lines; third rail; on-board energy storage. Increasing preference for non-polluting and energy-efficient transport is contributing to the growth of the electric locomotives market. According to the UK Department of Transport, besides highly efficient electric motors in electric locomotives that regularly have the efficiency of around 90% due to the advancements such as regenerative braking which can recover energy from braking, they emit 20%-35% less carbon per passenger mile than those enabled by diesel and helps in reduction in carbon emissions. Concerns regarding a greener environment resulted in increasing demand for non-polluting and energy-efficient transport systems, thereby driving the electric locomotives market. Regular maintenance of the rolling stock is required to ensure its safety, which is very expensive, impacting the growth of the market. For example, the annual maintenance cost of the high-speed trainset is approximately $1 million. In addition to the cost of components that need to be replaced periodically, proper maintenance is needed for facilities such as stations and berthing sites. Moreover, rolling stock requires long-term maintenance once the train has reached half of its operating life. This involves maintenance work on electrical, mechanical, and hydraulic parts of the vehicle. A large investment is needed for such maintenance. For example, the overhaul and electrification project of around 100 km Nis-Dimitrovgrad railway line (Serbia) is estimated to cost around $306 million, and a Memorandum of Understanding (MoU) was signed with CRBC (China) for the overhaul of Belgrade-Nis railway line for $701 million. Therefore, the expensive maintenance and overhaul that is needed regularly will hamper the growth of the electric locomotives market. The emergence of dual-mode locomotive electric trains will be one of the major trends that will gain traction in the electric locomotive market in the forecast period. In November 2019, Rail systems RP GmbH and Siemens Mobility signed a contract for the supply of two Vectron Dual Mode locomotives that can be operated either as a diesel or electric unit. On electrified routes, the Vectron Dual Mode is powered by electricity to save fuel and reduce maintenance costs. Due to their reduced dependence on petrol, the coming years will witness an increased preference for dual-mode trains, which will be one of the major factors propelling the growth of this market. In February 2020, Alstom announced plans to acquire Bombardier Transportation for a price between EUR 5.8 billion and EUR 6.2 billion, which will be paid by cash and new Alstom shares. This acquisition will improve Alstom's global reach and the ability to respond to the ever-increasing need for sustainable mobility. Bombardier Transportation will bring to Alstom a complementary geographical presence and an industrial footprint in growing markets, as well as additional technological platforms. It will significantly increase innovation capabilities to lead smart and green innovation. Bombardier Transportation is a Canadian multinational company that manufactures business jets and rail. The major players covered in the global electric locomotives market are CRRC Corporation Limited, Bombardier Inc., Alstom SA, Siemens AG, Kawasaki Heavy Industries Ltd., General Electric Company, Transmashholding AG, Stadler Rail AG, Hitachi Ltd., AEG Power Solutions, Strukton, Bombardier Inc., Wabtec Corporation, Toshiba Corporation, Metso Corporation, Brookville Equipment Corporation, Materfer, KONCAR - Electronics and Informatics Inc., A. Stucki Company, UGL Rail, Tata Motors, CAF, MITSUI & Co., Ltd (MITSUI), KODA AUTO. The countries covered in the global electric locomotives market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global electric locomotives market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global electric locomotives market is segmented - 1) By Energy Transfer: Overhead Lines, Third Rail, On-board Energy Storage 2) By Technology: IGBT Module, GTO Thyristor, SiC Module 3) By Traction Units: AC Traction Units, DC Traction Units, Multi System Units 4) By Application: Passenger Transport, Freight Transport

The autonomous cars market consists of sales of autonomous cars and related services. An autonomous car means navigating a vehicle without human input from passengers using sensing equipment (LIDAR), environmental sensitive control equipment, and navigation equipment. The global autonomous cars market is expected grow from $719.94 billion in 2020 to $809.15 billion in 2021 at a compound annual growth rate (CAGR) of 12.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1383.89 billion in 2025 at a CAGR of 14%. The autonomous cars market covered in this report is segmented by product type into semi-autonomous vehicles, fully-autonomous vehicles. Rise in the development of smart cities is a key factor driving the growth of the autonomous cars market. The electric autonomous cars help reduce air pollution in smart cities and also help to fight climate change. By using driverless cars, traffic accidents can be decreased by 90%, significantly improving the safety of our roads. Several countries such as Mexico, Canada and the United States are deploying digital infrastructure to promote communication between vehicles and networks to collect essential information, thereby reducing traffic congestion and improving road safety. Therefore, rise in the development of smart cities is expected to drive the growth of the autonomous cars market. Cybersecurity and safety concerns are the key factors hindering the growth of the autonomous cars market. Although the self-driving car market has enormous growth potential, many customers are not quite ready to hand over the keys owing to the threat of hackers as they can try to steal data and self-driving cars can go unofficial by exposing their driving routes and destinations that could threaten the privacy of passengers. The prospect of hackers taking control of the vehicles is even more concerning. For example, the first case of an autonomous car killing a pedestrian was reported in Arizona (USA) in 2018. In July 2020, cybersecurity researchers used the latest hacking techniques to hack into the electrical systems of a Jeep Cherokee. Using the Internet, they were able to obtain wireless control of the Jeep Cherokee giving them on to the Jeep’s entertainment system, allowing them to relay commands to its dashboard functions, steering, brakes, and transmission, and they were ready to do all of this remotely 10 miles away from the vehicle's location. The correlation between these attacks on common IoT devices and attacks in a connected or autonomous vehicle is the possibility of increased life and property risk in the vehicle context. Full automation vehicles is a key trend in the autonomous cars market. The full automation vehicles are capable of performing all driving functions in all circumstances, these vehicles are being designed to be used as robo-taxis, among others, such as Waymo. Eventually, these self-driving cars will blend into U.S. roadways by improving technology across six stages of driver assistance in the coming years from No automation (where a fully engaged driver is still required) to full autonomation (where an automated vehicle runs independently, without a human driver). Tesla has confirmed that it plans to provide a software update to its vehicles sometime by the end of 2019 or early 2020. Also, according to Wired, by the end of 2020, Teslas will be fully autonomous. In June 2019, Apple, an American based company, designs, develops and sells consumer electronics, computer software, and online services acquired Drive.ai for an undisclosed amount. This acquisition boosts Apple’s own development of a self-driving vehicle system. Drive.ai, a California based company, works on autonomous cars. The major players covered in the global autonomous cars market are BMW Group, Tesla Inc., Ford Motor Company, General Motor Company, Nissan Motor Corporation, Daimler AG, Toyota Motor Corporation, Volkswagen AG, Volvo Group, Waymo LLC, Aptiv, Continental AG, Nvidia Corporation, Intel Corporation, Baidu Inc., Honda Motor Company Ltd., Hyundai Motor company, Uber Technologies Inc., FCA Italy S.p.A., Fiat-Chrysler, Autoliv Inc., Bosch GMBH, Jaguar Land Rover Limited, Subaru of America, Inc., Audi AG, Groupe SA, AB Volvo, Robert Bosch GMBH, Denso Corporation, Samsung, Google Inc. The countries covered in the global autonomous cars market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global autonomous cars market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global autonomous cars market is segmented - 1) By Product Type: Semi-Autonomous Vehicles, Fully-Autonomous Vehicles 2) By Application: Civil, Robo Taxi, Ride Hail, Ride Share, Others 3) By Type: Battery Electric Vehicle (BEV), Internal Combustion Engine (ICE), Hybrid Electric Vehicle (HEV)

The autonomous ships market consists of sales of autonomous ships and related services. The autonomous ship is also known as crewless watercraft piloted by artificial intelligence (AI) without human interference. These ships are unmanned and function autonomously as a type of seafaring drone. Autonomous ships work on artificial intelligence technology and sensors which include LiDAR, radar, high definition cameras, sonar, and thermal imaging. The various levels of autonomous operations comprise fully manned to partially operated, partially autonomous, remote operated, and fully autonomous ships. The global autonomous ships market is expected grow from $5.68 billion in 2020 to $6.46 billion in 2021 at a compound annual growth rate (CAGR) of 13.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $9.24 billion in 2025 at a CAGR of 9%. The autonomous ships market covered in this report is segmented by autonomy into fully autonomous; remote operations; partial autonomous and by end-user into commercial; defense. Increasing marine accidents caused by human errors lead to high financial losses which are predicted to act as a major driver for the growth of the autonomous ships market. Unmanned ships or autonomous technology apprehend accidents attributing to human errors and contributes to the higher potential of reducing onboard accidents. According to the International Institute of Marine Surveying report published in November 2019, human error represents 58% of accidental events and 70% of accidents had shipboard operations as a major cause for accidents. Therefore, the use of autonomous ships in order to reduce the increasing number of accidents due to human error and financial losses is expected to drive the demand for autonomous ships over the next coming years. The increasing threat of cybersecurity and privacy is expected to limit the growth of the autonomous ships market during the forecast period. The advancements in technology and adoption of artificial intelligence (AI), mobility systems, and the internet of things (IoT) are creating higher chances of cybersecurity and data threats which is a major challenge for the autonomous ship industry. According to Association for Computing Machinery (ACM)’s journal on cybersecurity of the autonomous ship, cybersecurity is a serious issue for autonomous ships, regardless of the form and level of autonomy of the ship, owing to their increased dependence on ICT for controlling the ship, accessibility of systems to the internet, and increased connectivity of ship’s control system to onshore monitoring systems. Thus, the rising threat for cybersecurity and privacy is predicted to act as a major factor restraining the autonomous ships market over the forthcoming years. Major companies undertaking various strategic initiatives such as the development of fully autonomous ships, which is likely to be a major trend driving the growth of the autonomous ships industry. For instance, according to Offshore Energy news published in December 2018, Rolls Royce, a technology company, and Finferries, a state-owned ferry operator demonstrated the world’s s first fully autonomous ferry in the archipelago south of the city of Turku, Finland. It used a combination of Rolls Royce ship intelligence technology in order to navigate autonomously during its journey between Paraninen and Nauvo. The development of fully autonomous is a major trend that is anticipated to provide growth opportunities to the market. In May 2018, Wärtsilä Corporation, the technology group announced the acquisition of Transas, a UK-based firm for an amount of $257.8 million. This acquisition is a part of Wärtsilä Corporation’s attempt to expand the company’s smart marine ecosystem vision. The smart marine ecosystem is a vision where smart vessels connect with smart ports in order to improve the operational efficiency and use of resources to reduce risk and impact on the environment by enhancing security and safety. Transas was founded in 1990 and is a provider of ship & fleet operation solutions which includes access to information for real-time information, digital data and electronic chart services, and bridge infrastructure. The major players covered in the global autonomous ships market are General Electric, DNV GL, Rolls-Royce Holding PLC, Kongsberg Gruppen AS, NYK Line, Mitsui E&S Holdings Co Ltd, Wärtsilä Corporation, DSME Co., Ltd., Vigor Industrial LLC., Praxis Automation Technology B.V., Valmet Corp, Automated Ships Ltd., ASV Global , Rh Marine, L3 ASV, Siemens. The countries covered in the global autonomous ships market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global autonomous ships market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global autonomous ships market is segmented - 1) By Autonomy: Fully Autonomous, Remote Operations, Partial Autonomous 2) By End-User: Commercial, Defense 3) By Propulsion Type: Fully Electric, Hybrid 4) By Fuel Type: Carbon Neutral Fuels, LNG, Electric, and Heavy Fuel Oil/Marine Engine Fuel