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Autonomous Ships Market 2024-2033: Production Analysis, Growth Strategy, Industry Insights And Major Players | Mitsui E&S Holdings Co. Ltd., Siemens AG, General Electric Company, Hyundai Heavy Industries Co. Ltd., Northrop Grumman Corporation.
Autonomous Ships Market
The Business Research Company presents an extensive market research report on the Autonomous Ships Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The autonomous ships market size has grown strongly in recent years. It will grow from $7.34 billion in 2023 to $7.82 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to industry initiatives & pilot projects, early technological development, maritime safety concerns, military & research initiatives, shifts in trade and transportation.
The autonomous ships market size is expected to see strong growth in the next few years. It will grow to $10.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to public perception & acceptance, infrastructure readiness, safety improvements, global shipping industry trends, environmental sustainability demands. Major trends in the forecast period include digitalization of maritime industry, safety and efficiency improvements, regulatory framework development, environmental concerns and regulations, remote fleet management.
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Key Market Players:
Major companies operating in the autonomous ships market report are Mitsui E&S Holdings Co. Ltd., Siemens AG, General Electric Company, Hyundai Heavy Industries Co. Ltd., Northrop Grumman Corporation, Honeywell International Inc., ABB Ltd., BAE Systems plc, Nippon Yusen Kabushiki Kaisha, L3Harris Technologies Inc., Rolls-Royce Holding plc, L3 ASV Global Ltd., Wärtsilä Corporation, Wärtsilä Corporation Inc., Valmet Corporation, Daewoo Shipbuilding & Marine Engineering Co. Ltd., Kongsberg Gruppen AS, DNV GL AS, Fugro N.V., Vigor Industrial LLC, Rh Marine Ltd., Ocean GNS, ASV Global Limited, Praxis Automation Technology B.V., Automated Ships Ltd., SELSAN A.Ş., Ocean Biofuels Ltd., Autonomous Knight BV, Mapsea Corp. Ltd., Eco Drone Laser P.S.A.
Market Drivers:
Increasing marine accidents caused by human errors lead to high financial losses, which are predicted to act as a major driver for the growth of the autonomous ship market. Unmanned ships or autonomous technology apprehend accidents attributed to human errors and contribute to the higher potential of reducing onboard accidents. According to a 2021 report published by the Insurance Information Institute, a US industry association which exists to improve public understanding of insurance, in 2020, 49 large ships were completely lost. Therefore, the use of autonomous ships to reduce the increasing number of accidents due to human error and financial losses is expected to drive the demand for the growth of the autonomous ships market over the next few years.
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https://www.thebusinessresearchcompany.com/report/autonomous-ships-global-market-report
The autonomous ships market covered in this report is segmented -
1) By Autonomy: Fully Autonomous, Remote Operations, Partial Autonomous
2) By Propulsion Type: Fully Electric, Hybrid
3) By End-User: Commercial, Defense
Sub-Segements
By Fuel Type: Carbon Neutral Fuels, LNG, Electric, and Heavy Fuel Oil/Marine Engine Fuel
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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