Factors such as increasing global seaborne trade and initiatives undertaken by the navies of various countries such as the US for developing autonomous ships are driving the market growth. However, the absence of skilled personnel to operate and handle marine automation systems and unclear regulatory framework for autonomous ships are expected to hamper the growth of the market.
The growth of the global autonomous ships market can be attributed to the increasing adoption of connected smart ships as they offer numerous benefits such as vessel traffic management data and fleet health monitoring data. Furthermore, autonomous ships support various systems such as alarm management systems, navigation systems, and power management systems that assist sailors in experiencing enhanced safety and offer compliance to the maritime safety norms.
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The global autonomous ships market has been segmented based on ship type, autonomy, fit, solution, and region.
On the basis of ship type, the global autonomous ships market has been divided into commercial and defense. The commercial segment is expected to account for a larger market share during the forecast period and register a higher CAGR from 2019 to 2030.
Based on autonomy, the global autonomous ships market has been classified as partial automation, remote operations, and full automation+. The partial automation segment dominated the market in 2018.
On the basis of fit, the global autonomous ships market has been categorized as line fit and retrofit. The line fit segment dominated the market and is expected to register higher CAGR during the forecast period.
By solution, the global autonomous ships market has been divided into systems, software, and solutions. The systems segment dominated the market in 2018 and is expected to register the highest CAGR during the forecast period.
Based on region, the global autonomous ships market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. The Asia-Pacific market accounted for the largest market share in 2018.
The key players in the global autonomous ships market are Honeywell International, Inc. (US), General Electric (US), ABB (Switzerland), Hyundai Heavy Industries Co., Ltd (South Korea), Kongsberg Group (Norway), Ulstein Group ASA (Norway), Marlink (France), Rolls-Royce (UK), RH Marine (Netherlands), Valmet (Finland), Siemens AG (Germany), Marine Technologies, LLC (Norway), Wärtsilä (Finland), and Praxis Automation Technology BV (Netherlands).
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