Growing Demand of Autonomous Transportation Platforms for Higher Operating Efficiency, Safety is Fueling the Adoption of Autonomous Technology

CHICAGO, Nov. 26, 2019 /PRNewswire/ -- An autonomous system includes the integration of various systems and subsystems to enable effective decision-making based on the intelligent and smart processing of data. Incorporation of artificial intelligence in autonomous systems has led to the emergence of intelligent transportation across the globe. Algorithms used in artificial intelligence enable onboard computers to provide solutions for predictable problems that are typically encountered. Artificial intelligence is expected to help autonomous systems in decision-making during critical situations such as averting possible collisions by processing data received from sensors and accordingly taking necessary steps.

New use cases for autonomous technology are emerging in communication, navigation and surveillance of aircraft, cruise missiles, trains, cars, ships, spacecraft, industrial robots, ASVs, AUVs, and UAVs. The growing requirement for improved efficiency and reliability through these sensors has led to substantial investments in the market.

Autonomous Aircraft

The current market of autonomous aircraft includes increasingly autonomous aircraft that possess semi-autonomous capabilities for various flight operations, and fully autonomous aircraft that the current market is moving towards, which will involve complete autonomy in all flight operations. The market is projected to grow from an estimated USD 3.6 billion in 2018 to 23.7 billion by 2030, at a CAGR of 17.06%. AI and machine learning integrated with 5G network will let aircraft computers communicate with each other and these advancements will drive autonomous aircraft towards becoming a reality.

Companies such as Airbus (Netherlands), General Dynamics (US), and Boeing (US) are focusing on the development of autonomous aircraft for urban air mobility. Increasing demand for agile autonomous air taxis, autonomous cars, and ships for last mile connectivity which are equipped with fleet management & route planning solutions will result into asset optimization, cost savings, & reduction in human error. Emergence of an active aviation community has provided favorable conditions for innovation and entrepreneurship for new startups in the autonomous aircraft market. Companies are focusing on developing autonomous passenger and cargo vehicles for hassle-free commute within and between cities. Advances in aircraft avionics and flight control systems will be majorly driven by the low cost and high capability of computing systems, digital communications systems, and sensor technologies. Advancements in technologies including Global Positioning System (GPS) and open source hardware & software have made automation more cost-effective.

Major players in the autonomous aircraft market are Boeing (US), Airbus (France), Lockheed Martin (US), Northrop Grumman (US), and Elbit Systems (Israel), among others. Along with these, there are a few startups in this market that are working on future concepts for fully autonomous passenger air travel.

Autonomous Ships

The autonomous ships market is estimated to be USD 6.1 billion in 2018 and is projected to reach USD 13.8 billion by 2030, at a CAGR of 7.00%. Digitalization in the shipping industry has led to an increased demand for automation systems across the globe, which, in turn, fuels the growth of the autonomous ships. Marine automation is capable of linking various components and systems of ships, especially naval vessels equipped with several types of defense systems and weapons, with a single controlling and monitoring unit. For instance, in October 2019, ABB (Switzerland), in collaboration with Keppel Marine and Deepwater Technology (KMDTech) (Singapore), announced to collaboratively develop technology for autonomous retrofit and vessels, a 32-meter harbor tugboat along with leading-edge digital solutions, enabling autonomous vessel operations in the Port of Singapore by the end of 2020. Similarly, in October 2019, Kalmar (Finland) received the contract from Asyaport Liman A.S. (Turkey) for Kalmar SmartPort solutions (process autonomous solutions). Technological advancements in the Digital Marine Automation Systems such as Sensor Fusion Solutions, Control Algorithms, Conning Systems, Autopilot, and Automated Radar Plotting Aid are expected to create newer opportunities for the players in the market.

The major players in the autonomous ships market include Wartsila (Finland), Kongsberg Gruppen (Norway), Northrop Grumman (US), Rolls-Royce (UK), and General Electric (US). Rolls-Royce and Kongsberg Gruppen are key market players.

Autonomous Navigation

The Autonomous Navigation Market is estimated at USD 2.2 billion in 2018 and is projected to reach USD 13.5 billion by 2030, at a CAGR of 16.19%. Factors that are expected to fuel the growth of the market are development of sense & avoid systems in autonomous robots, adoption of autonomous solutions in commercial and military purposes, increased challenge of traffic congestion, increased demand for same day delivery smart applications, and demand for autonomous robots in logistics. Many companies are investing to make navigation in autonomous robots more reliable. The major trend in the market is to develop an autonomous platform—aided by Artificial Intelligence (AI) backed by powerful processing capabilities—for better decision making and improved situational awareness (through the sensor fusion technology).

Prominent players in the aviation industry such as Airbus (Netherlands), General Dynamics (US), and Boeing (US) are focusing on the development of autonomous aircraft for urban air mobility. With rising traffic in urban cities across the globe and increased time of travel, air mobility seems to be one of the best options to reduce the congestion in cities.

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected] 
Visit Our Web Site: https://www.marketsandmarkets.com

SOURCE MarketsandMarkets