Autonomous Ships Market Size Worth $ 9.17 Billion By 2032 | CAGR: 9.3%

Autonomous Ships Market Size Worth $ 9.17 Billion By 2032 | CAGR: 9.3%


The global autonomous ships market size is expected to reach USD 9.17 billion by 2030, according to a new study by Polaris Market Research. The report “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, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Ongoing innovations and developments in commercial vessels and incorporation of latest technologies into the cargo ships including advanced sensors, navigation systems, and integrated platforms by giant players, are prominent factors fueling the global market growth. Moreover, rising investments towards the advancements in technology worldwide that help in reducing maritime collisions, boosting fuel efficiency, performing critical missions, and operating for long hours, are further likely to create huge lucrative growth opportunities for the market.

For instance, in February 2023, the Austal USA, has successfully delivered the Expeditionary Fast Transport USNS Apalachicola (EPF 13) to the United States navy.  In 2023, the US Department of Defense (DoD) has proposed around USD 48.1 Bn on upgrading sea power capabilities. By 2024, it will add 9 fleet ships, including 1 Ford class nuclear enabled fleet carrier & few missile submarines.

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The landscape of the maritime commerce is drastically shifting as advances in the digital technology takes industry towards the increased and high automation. Globally, the International Maritime Organization constantly working with several maritime nations to establish the governance of autonomous vessels and also the modifications to international conventions.  

The application of various new information technologies, growing digitalization and automations might extremely change the way maritime transport operates and works across the world. The fast-changing and quick uptake of technologies allowing or enabling the autonomous surface ships operations and testing for not only the operator but also for vessel traffic services such as vessel traffic management, communication, control, and monitoring.

Autonomous Ships Market Report Highlights

  • Fully autonomous segment is expected to grow at a high CAGR during the forecast period, on account of increasing demand for these ships due to its quicker turnaround and low operating costs
  • Hardware segment accounted for largest market share in 2022, mainly due to growing use of hardware components and improvements in the vessel management
  • Commercial segment held the largest market revenue share in 2022, which is mainly due to rapid growth in the maritime industry and surge in the penetration for higher automations in commercial vehicles
  • Retrofit segment is projected to account for substantial growth rate over the Projected period, that is accelerated by increasing trend of various modernization programs and focus on reducing carbon emissions
  • Asia Pacific region dominated the global market with largest share in 2022, owing to growing implementation towards the development of new ports and boost the marine infrastructure in the region
  • The global key market players include Kongsberg Maritime, L3Harris Technologies, Honeywell International, Northrop Grumman, Neptec Technologies Corporation, and Sea Machine Robotics

Polaris Market Research has segmented the autonomous ships market report based on autonomy, solution, ship type, end-user, and region:

Autonomous Ships, Autonomy Outlook (Revenue - USD Billion, 2019 - 2032)

  • Partial Automation
  • Remotely Operated
  • Fully Autonomous

Autonomous Ships, Solution Outlook (Revenue - USD Billion, 2019 - 2032)

  • Hardware
  • Software

Autonomous Ships, Ship Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Commercial
  • Military

Autonomous Ships, End-User Outlook (Revenue - USD Billion, 2019 - 2032)

  • Line-fit & Newbuild
  • Retrofit

Autonomous Ships, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Autonomous Ships Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 4.49 billion

Revenue forecast in 2032

USD 9.17 billion

CAGR

9.3% from 2024– 2032

Base year

2023

Historical data

2019– 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By Autonomy, By Solution, By Ship Type, By End-User, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

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.

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  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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