Factors Driving the Market Growth:

– Increase in the demand for cargo transportation

Increasing demand for shipping by sea and operational safety of vessels are driving market growth. In addition, the trend of full automation in the transport industry, together with the rise in maritime safety standards, is anticipated to generate countless market expansion possibilities. In seaborne trade, various sets of autonomous ships are used. This, together with growing demand for decreased operating costs, is anticipated to drive development for autonomous ships by equipping them with automation system.

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– Increase in operational safety of ships

The autonomous ships will not have crew on the vessel to regulate the activities, which will be implemented in the market. Either they will be equipped with systems such as artificial intelligence, IoT, cloud computing, and other sophisticated techniques or their activities will be monitored remotely from the ground-based control station. In addition, by applying automated characteristics on vessels, shipyard accidents, tugboat accidents, cargo hauling accidents and others are decreased to some extent. Developments in automation therefore help to increase ships ‘ operational security.

Factors Restraining the Market Growth:

– Complicated operation

The global autonomous ship market control system is a very complex method. Similarly, the control system is operated on the coast by humans so that human error may occur. These factors can limit the development of the global autonomous ship industry.

Market Segmentation 2019-2029:

The Autonomous Ships Market is segmented on Autonomy, Ship Type, End Use, Solution, and Regional basis.

Autonomy

– Fully Autonomous

– Remote Operations

– Partial Automation

Ship Type

– Commercial

– Defence

End Use

– Linefit

– Retrofit

Solution

– Systems

– Software

– Structure

Regional Breakdown

Focused regional forecasts and analysis explore the future opportunities:

– North America

– Europe

– Asia-Pacific

– LAMEA

Competitive Analysis:

– Global autonomous ships competitive environment is expected to be moderate over the period ranging 2019 – 2029 by virtue of limited manufacturers operating in this industry

– The market competition is expected to be on the basis of new product development and product pricing

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Major Market Players:

ABB Ltd., L3 ASV, Honeywell International, Kongsberg Gruppen, Marine Technologies LLC, Mitsui O.S.K. Lines, Northrop Grumman, Rolls-Royce, Ulstein Group ASA, and Wartsila.

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