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Autonomous Train Technology Market Size, Share, Trends, Competitive Landscape, And Forecast To 2033
Autonomous Train Technology Market Size
As per the report, the autonomous train technology market size has grown strongly in recent years. It will grow from $4.15 billion in 2023 to $4.37 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The autonomous train technology market size is expected to see strong growth in the next few years. It will grow to $5.42 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.
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Railway Expenditure Boosting Growth In The Autonomous Train Technology Market
The increase in expenditure on railways is expected to fuel the growth of the autonomous train technology market going forward. Expenditure on railways refers to the amount of money spent by governments or private entities on various aspects of railway infrastructure, operations, and development. These railway expenditures arise because of increasing demand for public transportation, improved operational efficiency and competitiveness, and meeting the growing demands of modern transportation. Railway expenditure utilizes autonomous train technology to enhance infrastructure, integrate autonomous systems, and promote growth, which will consequently improve efficiency, safety, and sustainability in rail transportation systems. For instance, in November 2021, according to a report published by the Office of Rail and Road, a UK-based government department, total expenditure on railways amounted to $28.35 (£21.0 billion) in 2021, representing a 3.8% rise compared to the previous year. Therefore, an increase in expenditure on railways is driving the growth of the autonomous train technology market.
Adoption Of Aeva's 4D LiDAR Technology Revolutionizing Autonomous Train Operations
Major companies operating in the autonomous train technology market are focusing on the adoption of innovative technological solutions, such as Aeva's 4D LiDAR technology, to maintain a competitive edge and ensure regulatory compliance in automatic train operation solutions. 4D LiDar technology revolutionizes autonomous systems by providing advanced perception capabilities that enhance safety, efficiency, and reliability in various industries. For instance, in August 2023, Railergy, a Germany-based top-tier provider of railway automation solutions, adopted Aeva's 4D LiDAR technology to power autonomous train technology and enhance safety in their automatic train operation solution. This innovative technology enables the automation of trains for various applications, including shunting, main line, and last-mile operations in areas like seaports, freight, and mining. Additionally, this technology provides instant velocity data and high-resolution sensing capabilities, allowing for the real-time detection of obstacles and ensuring safe autonomous locomotive passage.
The autonomous train technology market covered in this report is segmented -
1) By Component: Camera, Accelerometer, Odometer, Tachometer, Radio Set, Other Components
2) By Grade Of Automation: Grade Of Automation 1 (GOA 1), Grade Of Automation 2 (GOA 2), Grade Of Automation 3 (GOA 3), Grade Of Automation 4 (GOA 4)
3) By Technology: Communication Based Train Control (CBTC), European Railway Traffic Management System (ERTMS), Automatic Train Control (ATC), Positive Train Control (PTC)
4) By Application: Passenger Train, Freight Train
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Major companies operating in the autonomous train technology market are China Railway Corporation, Hitachi Ltd., Siemens AG, Deutsche Bahn AG, General Electric Company, Mitsubishi Electric Corporation, ABB Group, Toshiba Corporation, Thales Group, Alstom SA, CSX Transportation, Kawasaki Heavy Industries, Japan Railways Group, WSP Global Inc., Huawei Technologies Co. Ltd, Wabtec Corporation, Tech Mahindra Ltd, MTR Corporation, Stadler Rail, CAF Signalling S.A.U., Hyundai Rotem, Itron Inc., PT Kereta Api Indonesia (Persero), Kyosan Electric Manufacturing Ltd, Mermec Corporation
Contents of the report:
1. Executive Summary
2. Autonomous Train Technology Market Report Structure
3. Autonomous Train Technology Market Trends And Strategies
4. Autonomous Train Technology Market - Macro Economic Scenario
5. Autonomous Train Technology Market Size And Growth
…..
27. Autonomous Train Technology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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