Autonomous Ships Market Share, Size, Trends, Industry Analysis Report, By Autonomy (Partial Automation, Remotely Operated, and Fully Autonomous); By Solution; By Ship Type; By End-User; By Region; Segment Forecast, 2023 - 2032
- Published Date:Jan-2024
- Pages: 112
- Format: PDF
- Report ID: PM3438
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global autonomous ships market was valued at USD 4.11 billion in 2023 and is expected to grow at a CAGR of 9.3% during the forecast period. Growing developments of the next-generation autonomous vessels that allow shore engineers to effectively monitor and control their navigation and performance through sensors, detectors, advanced satellite communication systems, and high-resolution cameras that is boosting the global market at significant growth. In addition, the rapid increase in the R&D activities by major ship manufacturers as well as the system developers worldwide to develop fully-automated autonomous ships coupled with the integration of existing ship technologies such as AI and sensors, are likely to influence the demand and growth of the market in the near future.
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For instance, in June 2021, Austal Limited announced that it had signed a contract for the procurement, design, production implementation, and demonstration of the autonomous capability, which will help the company to expand its market reach and provide fast and high-payload transport capability to combatant commanders.
Moreover, the new autonomous ships being introduced in the market are highly equipped with innovative technologies, including artificial intelligence, IoT cloud computing, machine learning, and many others, which help reduce the number of accidents occurring due to human error.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the autonomous ships market. The emergence of the deadly virus across the globe has forced countries to take necessary actions on business operations and mass movement, which resulted in a lockdown and high trade restrictions, due to which the global supply chain has disrupted, negatively impacted the global market during the pandemic.
Industry Dynamics
Growth Drivers
There has been a drastic increase in the demand for cargo transportation across the globe via waterways, as cargo transportation. Ships are more cost-effective than other forms of transport due to their ability to transport more cargo in a shorter span of time, coupled with the growing introduction to cargo ships with cutting-edge technology, including navigation sensors, advanced sensors, and others, are key factors influencing the overall market growth at a rapid pace.
Furthermore, an increasing number of safety regulations associated with ocean travel, which includes several treaties pertaining to autonomous maritime safety, such as navigation communications, ship construction and design, pollution control and response, and rescue chip system equipment, are also offering huge demand and growth opportunities for the market.
Report Segmentation
The market is primarily segmented based on autonomy, solution, ship type, end-user, and region.
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By Autonomy |
By Solution |
By Ship Type |
By End-User |
By Region |
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Fully autonomous segment is expected to witness highest growth over forecast period
Fully autonomous segment is anticipated to grow at a high CAGR during the anticipated period, which is mainly driven by numerous benefits that are associated with fully-autonomous ships including faster turnaround, lower operation costs, less chance of accidents due to non-involvement of human errors, lower freight charges, and shorter port stay along with the high prevalence among businesses to adopt these ships to automate their process more effectively.
The remotely operated ships segment led the industry market with highest revenue share in 2022, on account of its widespread adoption due to its better vantage points and safer grounds, as these ships are operated from the remote centers that provide the ability to operate more efficiently and conveniently.
Hardware segment accounted for the largest market share in 2022
Hardware segment accounted for largest market share in 2022, and is likely to retain its market position throughout the forecast period. The widespread use and prevalence of variety of hardware components such as sensors, GPS trackers, propulsion & auxiliary systems, and navigation systems, among others coupled with the growing entrance of new companies into the ship telematics because of the rise in new systems and hardware innovations for the vessel management, that are the key factors propelling the segment market growth.
The software segment is expected to grow at substantial growth rate over the coming years, mainly due to growing trend of utilizing various kinds of platforms for data transmission including software unit’s integrated Application Programming Interface. In addition, various suppliers across the globe are taking the initiative through providing a software-based application supporting the autonomous ship functionality, is further contributing towards the segment market growth.
Commercial segment held the significant market revenue share in 2022
Commercial segment held the significant market share in 2022 at healthy growth rate, which is highly accelerated by the increasing expansion of marine industry and high burden of cargo or passengers for transporting from one location to another. Large number of companies are constantly working towards the introduction and implementation of autonomous commercial ships coupled with the growing need for automation on commercial ships to reduce the accidents taking place from human or calculation errors, are positively impacting the market growth.
Moreover, the development of self-propelled naval vessels with the high technological advancements with the sensor systems specially in commercial vessels including cargo vehicles, passenger ferries, and several other platforms is creating huge potential for the market over the coming years.
Retrofit segment is anticipated to exhibit significant market growth over forecast period
The retrofit segment is projected to account for considerable growth rate throughout the forecast period. The growth of the segment market can be highly attributed to emerging trend of modernization programs and changes in the regulatory energy and emissions standards and constantly upgrades in the products/solutions.
The line-fit & newbuild segment holds the maximum market share in 2022, mainly because of the rising investments in naval defense by several countries and continuous rise in the seaborne trade activities across the globe. Moreover, the surge in the penetration of procurement of advanced and innovated ships due to growth in the tourism globally, further boosts the segment market.
Asia Pacific region dominated the global market in 2022
Asia Pacific garnered the largest share in 2022. The growth of the regional market can be highly accelerated by extensive growth in the shipbuilding industry and high penetration for developing new ports, enhanced infrastructure, proving easy access to various inexpensive facilities, and surge in the customer base across countries like China, India, and Malaysia.
For instance, according to the UNCTAD, Asia dominated the global maritime trade arena and accounted for approx. 41% of goods loaded and 62% of goods unloaded, and the region bring over 50% of the global maritime trade volumes.
The Europe region is projected to be the fastest growing region during the forecast period and is estimated to generate highest demand on account of rising investments and initiatives from the European governments and numerous companies, who are working in the industry. Additionally, the constant creation of innovated technology and its widespread adoption across the countries such as Germany, France, U.K., and Spain, is also fueling the demand of the market.
Competitive Insight
Some of the major players operating in the global market include Hyundai Heavy Industries, Rolls-Royce, BAE Systems, Kongsberg Maritime, Fugro, L3Harris Technologies, Siemens Energy, Honeywell International, ABB, Northrop Grumman, Ulstein Group, Marine Technologies, Buffalo Automation, Neptec Technologies, Sea Machine Robotics, Mitsui OSK. Lines, and Shone Automation.
Recent Developments
- In April 2022, Sea Machine Robotics & Rolls-Royce Holdings, collaborated on three new ship autonomous products, which will enhance the safety, efficiency, and sustainability. This partnership brings together prime marine & developer of AI enabled vessel systems together, and will work on improved navigation with the greater precision & enormous predictability.
- In November 2021, the world’s first completely self-steering and electric container ship named ‘Yara’ launched in Norway. This ship will reduce 1,000 tonnes of carbon emissions every year and is likely to be the fully autonomous in next two years. It includes all the required sensors and integrations required for remote and autonomous operations.
Autonomous Ships Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 4.49 billion |
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Revenue forecast in 2032 |
USD 9.17 billion |
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CAGR |
9.3% from 2024– 2032 |
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Base year |
2023 |
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Historical data |
2019– 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
By Autonomy, By Solution, By Ship Type, By End-User, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Hyundai Heavy Industries, Rolls-Royce PLC, BAE Systems, Kongsberg Maritime, Fugro, L3Harris Technologies Inc., Siemens Energy, Honeywell International Inc., ABB, Northrop Grumman, Ulstein Group ASA, Marine Technologies Inc., Buffalo Automation, Neptec Technologies Corporation, Sea Machine Robotics Inc., Mitsui OSK. Lines, and Shone Automation Inc. |
FAQ's
The global autonomous ships market size is expected to reach USD 9.17 billion by 2030.
Top market players in the Autonomous Ships Market are Hyundai Heavy Industries, Rolls-Royce, BAE Systems, Kongsberg Maritime, Fugro, L3Harris Technologies, Siemens Energy.
Asia Pacific contribute notably towards the global Autonomous Ships Market.
The global autonomous ships market expected to grow at a CAGR of 9.3% during the forecast period.
The Autonomous Ships Market report covering key are autonomy, solution, ship type, end-user, and region.
