Major Trends in Autonomous Ships Market

According to the report, “Autonomous Ships Market by Autonomy (Fully Autonomous, Remote Operations, Partial Automation), Ship Type (Commercial, Defense), End-Use (Linefit, Retrofit), Solution (Systems, Software, Structures), and Region - Global Forecast to 2030”, the global autonomous ships market size is projected to see rapid growth and reach USD 13.8 billion by the year 2030. The market that has been divided into - autonomy, end-use, solution, ship type, and region – was estimated at USD 6.1 billion in the year 2018.

The growth of the industry has been calculated at a CAGR of 7.00% within the forecast period from 2018 to 2030. The autonomous ship industry is driven primarily by certain factors like an increase in world trade by sea, growth in the demand for automation systems for safety, rise in maritime navigation, and increased maritime tourism.

Browse 86 market data Tables and 46 Figures spread through 155 Pages and in-depth TOC on "Autonomous Ships Market - Global Forecast to 2030"
https://www.marketsandmarkets.com/Market-Reports/autonomous-ships-market-267183224.html

Autonomy segment is going to see a high CAGR among all levels

The autonomous segment is estimated to lead during the forecast period. The market is driven mainly by an increase in the demand for autonomous ships. This happens due to rising accidents due to human error. Another vital driving force of the market is increased operational expenditures. These are going to be the principal drivers of the autonomous ships market during the forecast period.

Demand for commercial vessels is expected to drive the end-user segment

Based on the end-user segment, the linefit of the autonomous ship market is estimated to have the highest Compound Annual Growth Rate. The primary driving force of this segment is an increase in demand for automation systems from ship operators. Simultaneously, the need for commercial ships is expected to grow in the forecast period. Thus, according to experts, the line-fit segment is projected to see impressive growth.

Download Free PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=267183224

Asia Pacific region has the highest potential among all regions

The Asia Pacific witnessed rapid economic development in the past few years. As a result, the region leads the autonomous ships market in the year 2018. There is also an increase in the maritime trade in the Asia Pacific. Quintessentially, the rise in sea trade led to the surge in demand for commercial ships for the transportation of manufactured goods to different markets across the world. This increase in the number of vessels in the Asia Pacific increased the demand for autonomous ships in this region. Thus, there is growth in the autonomous ships market of this region.

Prominent players in the autonomous ships market are - Wartsila (Finland), Northrop Grumman (US), Kongsberg Gruppen (Norway), Rolls-Royce (UK), ABB (Switzerland), General Electric (US), Honeywell International (US), and a few others. Kongsberg Gruppen and Rolls Royce, among others, are actively engaged in acquisitions and contracts to increase the sale of automation systems as well as autonomous ships of different applications.

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

This release was published on openPR.