The autonomous ships market size is expected to grow from USD 6.1 billion in 2018 to USD 13.8 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 7.00%

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Jan 16, 2019, 16:09 ET

NEW YORK, Jan. 16, 2019 /PRNewswire/ -- Growth in seaborne trade coming years is the key factor impacting the growth of the autonomous ships market

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The autonomous ships market size is expected to grow from USD 6.1 billion in 2018 to USD 13.8 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 7.00% during the forecast period. The increasing seaborne trade and the growth in maritime tourism drive the autonomous ships market. Digitalization making ships vulnerable to cyber threats and the shortage of qualified professionals in the maritime industry serve as restraints for the autonomous ships market.

Partial automation segment is estimated to account for the largest share of the autonomous ships market in 2018 due to the increasing demand for automation systems in commercial and naval ships

Based on autonomy, the partial automation segment is estimated to account for the largest share of the autonomous ships market in 2018.Systems such as propulsion systems, power management systems, alarm & management system, and others are being demanded by ship operators.

The increase in demand for such systems is expected to drive the market for partial automation in ships. Kongsberg Gruppen, Rolls-Royce and Siemens are manufacturers that provide automation systems for commercial ships.

Increasing demand for various ship health & safety systems is expected to drive the market for automation systems

Based on solution, the market is segmented into systems, software and structures. Increasing demand for reliability, and health & safety management systems & the requirement for real-time connectivity in marine ships is expected to drive the demand for systems segment.

Asia Pacific is estimated to hold the largest share of the autonomous ships market in 2018
The Asia Pacific is estimated to account for the largest share of the autonomous ships market in 2018. Increasing demand for commercial ships from countries such as India, China, and Japan and the increasing investment in autonomous ships is expected to drive the market for autonomous ships in Asia Pacific.

Break-up of profiles of primary participants in the autonomous ships market
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C-Level Executives– 35%, Directors – 25%, and Others – 40%
• By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, Rest of the World 5%

Key players in the autonomous ships market are Wartsila (Finland), Kongsberg Gruppen (Norway), Northrop Grumman (US), Rolls Royce (UK), and General Electric (US), among others. These companies provide autonomous ships and automation systems in various countries of across North America, Europe, and Asia Pacific.

Research Coverage:
The market study covers the autonomous ships market across different segments.It aims at estimating the market size and the growth potential of this market across segments such as solution, ship type, end use, autonomy, and region.

The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Reasons to buy this report:
The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall autonomous ships market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

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