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.
Full Research Report On Autonomous Ships Market Visit Here:
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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
- Passenger Cruise
- Bulk Carrier &
Container Ships
- Tankers
- Others
- Defense
- Submarines
- Aircraft Carriers
- Destroyers
- Frigates
Autonomous Ships
Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa
About Grand View Research
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, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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