Global Autonomous Ships Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Autonomous Ships Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global autonomous ships market report has been segmented on the basis of sensor type, deployment, end user, and region.

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Global Autonomous Ships Market: Overview

Autonomous ships can be described as crewless self-sailing vessels provided with various degrees of autonomy. It includes ships such as remote ships, automated ship, and fully automated ship. Remote ship is designed to controlled by ashore operator. Automated ship functions on pre-programmed software and operates with the provided algorithm. Fully automated ship is able to make decisions on the basis of calculated risk and consequences. Initial applications of autonomous ships include passenger or roro ships, and bulk carrier ships.

Global Autonomous Ships Market: Dynamics

Increasing adoption of automation technology in order to reduce or avoid accidents caused by human error and increase safety is a major factor driving growth of the global autonomous ships market. In addition, autonomous ship helps to reduce the crewing cost is another factor supporting growth of the global market. Autonomous ship also provides fuel and design efficiency of the vessel, is a factor expected to fuel growth of the target market over the forecast period. Furthermore, growing maritime tourism, coupled with growth installation of automation technology in passenger ships is a factor expected to propel growth of the global autonomous ships market during the forecast period.

However, concerns regarding cyber security is a factor that could hamper demand for autonomous ships and restrain target market during the forecast period. additionally, lack of standard regulatory framework regarding autonomous ships may also affect growth of the global market. Nevertheless, growing adoption of automation technology on ships to improve safety of the passengers can create high revenue opportunities for players in the target market.

Global Autonomous Ships Market: Segment Analysis

As per sensor type, the commercial segment is expected to account for high growth in terms of revenue in the near future. Increasing maritime trade is a key factor anticipated to support growth of the target segment in the global market. in addition, growing adoption of automation technology, coupled with increasing budget of companies for advanced technology is also supporting growth of the segment.  As per end use, the line-fit segment is expected to register highest growth rate in terms of revenue over the forecast period, owing to increasing adoption of automation on line-fit ships.

Global Autonomous Ships Market: Regional Analysis

Market in Europe is expected to account for significant share in terms of revenue over the forecast period.

Increasing adoption of advanced technologies in marine sector for cruise ships and passenger ships is a key factor driving growth of the target market in countries in the region. In addition, presence of key manufacturers of autonomous ships is also expected to bolster growth of the target market in the region. Market in the Asia Pacific is expected to witness lucrative growth in terms of revenue in the near future. Increasing sea trade in countries in the region is a key factor anticipated to bolster growth of the target market over the forecast period.

Global Autonomous Ships Market Segmentation:

Segmentation by Autonomy:

Partial Automation
Fully Autonomous
Remote Operations

Segmentation by Solution:

Software
Systems
Structures

Segmentation by Ship Type:

Defense
Commercial

Segmentation by End Use:

Retrofit
Line-fit