Autonomous Ships Market Size, Share, Opportunities, 2024-2032| ABB, BAE Systems, Honeywell International Inc., Rolls Royce plc

The global autonomous ships market was valued at USD 5.61 billion in 2023 and is expected to grow from USD 6.11 billion in 2024 to USD 12.25 billion by 2032, registering a compound annual growth rate (CAGR) of 9.1% over the forecast period. In 2023, Asia Pacific led the market, holding a dominant 37.79% share.
Autonomous ships refer to ships that are operated remotely or possess high levels of automation. These vessels incorporate cutting-edge Internet of Things (IoT) technology, data analysis technology, and connect to land-based monitoring centers through broadband networks. The increasing adoption of these advanced technologies is expected to fuel the growth of the market.

Fortune Business Insights presents this information in their report titled "Global Autonomous Ships Market, 2024-2032."

𝐆𝐞𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/autonomous-ship-market-101797

The autonomous ships market is rapidly gaining traction as advancements in artificial intelligence, sensor technology, and automation are transforming the maritime industry. These vessels, capable of navigating and performing complex operations with minimal human intervention, are set to revolutionize shipping by enhancing safety, efficiency, and reducing operational costs. With the increasing focus on sustainability, autonomous ships are also being designed with eco-friendly propulsion systems, further driving their appeal. Key players in the market are investing in R&D to refine autonomous navigation systems, while regulatory frameworks are gradually adapting to support the growth of this innovative technology. As global trade continues to expand, autonomous ships are poised to play a pivotal role in shaping the future of maritime logistics.

𝐌𝐚𝐣𝐨𝐫 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐏𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐀𝐮𝐭𝐨𝐧𝐨𝐦𝐨𝐮𝐬 𝐒𝐡𝐢𝐩𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:
◉ ABB (Switzerland)
◉ ASELSAN A.Ş. (Turkey)
◉ BAE Systems (U.K.)
◉ Fugro (Netherlands)
◉ GE (U.S.)
◉ Honeywell International Inc. (U.S.)
◉ Kongsberg Gruppen Maritime (Norway)
◉ L3 ASV (U.S.)
◉ Northrop Grumman (U.S.)
◉ Rolls Royce plc (U.K.)
◉ Siemens Energy (Germany)
◉ Wärtsilä (Finland)
◉ Marine Technologies LLC (U.S.)
◉ Ulstein Group ASA (Norway)
◉ Mitsui (Japan)
◉ Sea Machines Robotics Inc. (U.S.)
◉ Neptec Technologies Corp. (Canada)

𝐑𝐮𝐬𝐬𝐢𝐚-𝐔𝐤𝐫𝐚𝐢𝐧𝐞 𝐖𝐚𝐫 𝐈𝐦𝐩𝐚𝐜𝐭
Naval Forces Embrace Unmanned Ships due to their Autonomous Capabilities
Naval forces are increasingly drawn to the advantages offered by autonomous ships compared to traditional manned vessels. The U.S., in particular, has made substantial investments and formulated a strategic plan to procure medium, large, and extra-large "unmanned vehicles" for surface and undersea operations.

𝐆𝐞𝐭 𝐚 𝐐𝐮𝐨𝐭𝐞 𝐍𝐨𝐰:
https://www.fortunebusinessinsights.com/enquiry/get-a-quote/autonomous-ship-market-101797

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:
𝐒𝐞𝐯𝐞𝐫𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞𝐬 𝐨𝐟 𝐅𝐮𝐥𝐥𝐲 𝐀𝐮𝐭𝐨𝐧𝐨𝐦𝐨𝐮𝐬 𝐒𝐡𝐢𝐩𝐬 𝐏𝐫𝐨𝐩𝐞𝐥 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐆𝐫𝐨𝐰𝐭𝐡
Based on autonomy, the autonomous ships market is classified into partial automation, remotely operated, and fully autonomous. The fully autonomous segment is projected to experience the most significant growth owing to the advantages it offers, including reduced delivery times, shorter port stays, decreased operating expenses, elimination of accidents caused by human error, and lower freight rates.

𝐇𝐚𝐫𝐝𝐰𝐚𝐫𝐞 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭𝐬 𝐒𝐩𝐞𝐚𝐫𝐡𝐞𝐚𝐝 𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐮𝐞 𝐭𝐨 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧
Based on the solution, the market is segmented into hardware and software. The hardware segment dominated the market and is expected to continue its dominance. The growth is primarily driven by the increasing uptake of various hardware components, including sensors, GPS trackers, automated navigation systems, propulsion, auxiliary systems, and other essential elements.

𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐒𝐞𝐜𝐭𝐨𝐫 𝐓𝐚𝐤𝐞𝐬 𝐭𝐡𝐞 𝐋𝐞𝐚𝐝 𝐝𝐮𝐞 𝐭𝐨 𝐑𝐢𝐬𝐢𝐧𝐠 𝐓𝐨𝐮𝐫𝐢𝐬𝐦 𝐚𝐧𝐝 𝐆𝐥𝐨𝐛𝐚𝐥 𝐓𝐫𝐚𝐝𝐞
By ship type, the market is classified into commercial and defense. The commercial segment is divided into bulk carriers, tankers, dry cargo, and containers. In 2022, the commercial segment claimed the largest market share, driven by the surge in tourism activities and the expansion of international seaborne trade. The International Chamber of Shipping reported that the global shipping industry's annual trade value reached a staggering USD 14 trillion in 2019.

𝐋𝐢𝐧𝐞 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐃𝐨𝐦𝐢𝐧𝐚𝐭𝐞𝐬 𝐎𝐰𝐢𝐧𝐠 𝐭𝐨 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬
By end-user, the market is segmented into line fit and retrofit. In 2022, the line fit segment emerged as the frontrunner, capturing the largest autonomous ships market share. The remarkable growth of this segment can be attributed to two key factors: the increasing investments made by naval defense forces and the thriving international maritime trade.
From the regional ground, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.

𝐀𝐬𝐤 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧:
https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/autonomous-ship-market-101797

𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞
The comprehensive autonomous ships market analysis report offers a meticulous examination of key factors, including prominent fleet companies, diverse vessel types, innovative solutions, and major application areas. It provides valuable insights into prevailing market trends and highlights noteworthy industry advancements. Furthermore, the report delves into various direct and indirect factors that have exerted a significant influence on the market's growth trajectory in recent times.

𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬
Technological Advancements Drive Market Expansion: Increasing Investments Fuel Growth
The autonomous ships market is experiencing accelerated growth due to the rising investments made by several countries in high technology. For example, in October 2019, South Korea invested a substantial USD 130 million in an autonomous ship project. This initiative focuses on developing an intelligent navigation system, collision and accident prevention capabilities, and an integrated platform for system management, decision-making, and situational awareness.
However, digitization and automation has increased chances of cyberattacks and may pose challenges to the autonomous ships market growth.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬
Asia Pacific Drives Growth Due to Rapid Economic Development and Maritime Trade
In 2022, Asia Pacific emerged as the dominant force in the market, capturing the largest autonomous ships market share. This remarkable growth can be attributed to the region's rapid economic development and the thriving maritime trade activities. The expanding economies and increasing trade volumes in countries across Asia Pacific contribute to the region's market dominance.
North America is experiencing significant growth in the market, fueled by the escalating investments made towards the development of advanced commercial and defense vessels.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞
Industry Players Drive Business Expansion with Next-Generation Ships and Systems
The key players operating in the market prioritize business expansion through the development of next-generation ships and advanced systems. In October 2022, Kongsberg Maritime, a prominent player in the market, made a significant announcement regarding a supply contract. The company was awarded the contract for the HUGIN Endurance Autonomous Underwater Vehicle (AUV) system, collaborating with an undisclosed partner.

𝐑𝐞𝐚𝐝 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:
Aircraft Sensors Market
https://www.fortunebusinessinsights.com/industry-reports/aircraft-sensors-market-101816

Gallium Nitride Device Market
https://www.fortunebusinessinsights.com/gallium-nitride-gan-devices-market-103367

Airborne Fire Control Radar Market
https://www.fortunebusinessinsights.com/airborne-fire-control-radar-market-104048

𝐊𝐞𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭
• February 2022: Kongsberg Maritime was awarded a contract by Holland Shipyards Group to electrify and automate new ferries. Under the contract, Kongsberg Maritime will supply electrification and control systems with automated functions for up to four new all-electric ferries.

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This release was published on openPR.