Autonomous Ships Market By Type (Partially Autonomous Ships, Fully Autonomous Ships), By Application (Commercial, Military & Security) - Growth, Future Prospects, And Competitive Analysis, 2017 - 2025

The concept of autonomous cargo ships has been into existence since decades. The concept has gained momentum with the advent of advanced sensor technology enabling the development of driverless cars and unmanned aircraft. Autonomous ships are unmanned vessels that are operated remotely from control stations onshore. This virtually eliminates the need for any human personnel onboard. Autonomous ships are based on three basic components viz. sensor combination, control algorithm and communication. Sensor combination includes fusing different types of radars, thermal imaging sensors, LiDAR, visual cameras and several other sensors. The data gathered from all of the aforementioned devices is used to gain an accurate perspective of the surrounding conditions. Control algorithm is designed to analyze the data gathered from sensor network for navigation and collision avoidance. The communication module is responsible for connectivity with satellite and control station.

The overall autonomous ships market is expected to be driven by the enhanced operation offered by these vessels over conventional manual vessels. Autonomous ships are believed to be capable of reducing operating costs by nearly 20%. In addition, autonomous ships eliminates the possibility of human errors, thereby reducing the number of accidents. Furthermore, the market growth is also expected from the rising military budgets over unmanned systems. Rising technological advancement is estimated to provide substantial boost to the adoption of autonomous ships across the defense sector. Nevertheless, lack of regulatory framework and threat of cyber-attacks pose significant challenge to the market growth.

The report titled “Global Autonomous Ships Market- Growth, Future Prospects and Competitive Analysis, 2017 – 2025” offers strategic insights into the global autonomous ships market along with the market size and estimates for the duration 2015 to 2025. The said research study covers in-depth analysis of multiple market segments based on type, application and cross-sectional study across different geographies and sub-geographies. The study covers the comparative analysis of different segments for the years 2016 & 2025. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities.

In order to help strategic decision makers, the report also includes competitive profiling of the leading providers of autonomous ships, market positioning and key developments. Some of the major players profiled in the report are Kongsberg Gruppen ASA, Rolls-Royce Holdings Plc, Automated Ships Ltd., Mitsui O.S.K. Lines/Mitsui Engineering & Shipbuilding Co., ASV Global and Vigor Industrial.

Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive markets within the autonomous ships industry
• Market fuelers, market impediments, and their impact on the market growth
• In-depth competitive environment analysis
• Trailing 2-Year market size data (2015 – 2016)
   

Overall, the research study provides a holistic view of the global autonomous ships market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above mentioned factors.

The autonomous ships market is segmented, based on application, into following categories

• Commercial
• Military and Security
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In 2016, the overall autonomous ships market worldwide was led by the commercial application segment. The segment accounted for a considerably large share in the total revenue generated globally. On account of the large number of existing cargo ships cruising across the world, this segment is expected to continue to dominate the overall autonomous ships market throughout the forecast period. Nevertheless, rising adoption of autonomous ships in the military and security applications such as mine counter measures, anti-submarines and maritime security is expected to drive the demand for the ships in this segment.

The autonomous ships market has been segmented, on the basis of geographical regions, as per following regions and countries:

• North America
  • U.S.
  • Rest of North America
• Europe
  • U.K.
  • Germany
  • France
  • Greece
  • Norway
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • Singapore
  • India
  • Rest of Asia Pacific
• Rest of the World (RoW)
  • Middle East and Africa (MEA)
  • Latin America

In 2016, Asia Pacific represented the largest market for autonomous ships, in terms of revenue. The region is principally supported by countries such as China, Japan and South Korea, among others. With the rising adoption of autonomous ships in the commercial applications across India and Southeast Asia countries, the demand for autonomous ships is projected to rise perpetually in the following years. As a result, Asia Pacific would continue to dominate the overall autonomous ships market throughout the forecast period, expanding with a healthy growth rate. Europe followed Asia Pacific, in terms of revenue, in the overall autonomous ships market worldwide. During the forecast period, the autonomous ships market is expected to witness the fastest growth in the European region.