- The global autonomous ships market is projected to grow from US$ 102.1 billion in 2023 to US$ 172.9 billion by 2032, at a CAGR of 6%.
- Increasing cargo shipping, coupled with rising marine accidents due to human error, are key drivers for the adoption of autonomous ships.
- Advancements in AI, IoT, and sensor technologies, alongside a shortage of seafarers, are accelerating the demand for unmanned ships.
The global autonomous ships market, valued at US$ 102.1 billion in 2023, is projected to reach US$ 172.9 billion by 2032, growing at a CAGR of 6% from 2023-2032. Autonomous ships are increasingly being adopted due to their potential to mitigate human error, which has been a leading cause of marine accidents, reports GlobeNewswire.
Cargo Shipping and Marine Accidents Driving Demand
Cargo shipping is on the rise globally, finding applications in transporting various goods over long distances.
This rise, coupled with an increase in marine accidents due to human error, is prompting a shift towards autonomous ships, which can minimize financial losses and reduce harm to marine ecosystems.
Seafarer Shortage and Unattractive Jobs
The unattractive nature of seafaring jobs and the high degree of isolation involved are deterring millennials from entering the maritime workforce.
This shortage of seagoing professionals, along with the growing demand for maritime trading, is further accelerating the transition to unmanned ships.
AI, Robotics, and Advanced Sensor Technologies
The integration of artificial intelligence (AI) and robotics with autonomous ships, combined with advancements in sensor technologies, is creating new opportunities for improving navigation systems.
These technological innovations are enhancing the reliability and efficiency of unmanned ships, making them more attractive in the market.
IoT and Environmental Concerns
Leading market players are focusing on incorporating the Internet of Things (IoT) and other technologies. To reduce the environmental footprint of maritime traffic.
This shift is expected to improve the efficiency of autonomous marine ventures and create a favorable market outlook for the industry.
Key Market Drivers: Seaborne Trade and Maritime Tourism
The growing demand for seaborne trade and the rise in maritime tourism are other significant drivers of market growth.
Extensive investments in research and development (R&D) to create cost-effective and reliable unmanned vessels are expected to further propel market expansion.
Key Market Segmentation:
The report segments the autonomous ships market based on various factors by:
Component:
- Hardware
- Software
Level of Autonomy:
- Semi-Autonomous
- Fully-Autonomous
Fuel Type:
- Carbon Neutral Fuel
- Liquefied Natural Gas
- Electric Batteries
- Heavy Fuel Oil (HFO)
Installation:
- OEM
- Retrofit
Ship Type:
- Commercial Ships
- Defense Ships
- Passenger Ships
Regional Insights
The autonomous ships market is analyzed on a global scale, with detailed forecasts for regions such as North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa.
Each region’s growth potential and market trends have been examined.
Competitive Landscape
The competitive landscape includes key players like ABB Ltd., BAE Systems plc, DNV AS, General Electric Company, Honeywell International Inc., Kongsberg Gruppen, L3Harris Technologies Inc., Mitsui & Co. Ltd., Rolls-Royce plc, Samsung Heavy Industries Co. Ltd., Siemens AG, Ulstein Group ASA, Valmet Oyj, and Wartsila.
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Source: GlobeNewswire
