Dublin, June 08, 2021 (GLOBE NEWSWIRE) – The “Global Autonomous Vessels Market Report 2021: Growth and Change of COVID-19 through 2030” report was added to ResearchAndMarkets.com offer.
The main players in the autonomous vessel market are General Electric, DNV GL, Rolls-Royce Holding PLC, Kongsberg Gruppen AS, NYK Line, Mitsui E&S Holdings Co Ltd, Wartsila Corporation, DSME Co., Ltd., Vigor Industrial LLC. and Praxis Automation Technology BV
The global autonomous vessel market is expected to grow from $ 5.68 billion in 2020 to $ 6.46 billion in 2021 at a compound annual growth rate (CAGR) of 13.7%.
The growth is primarily driven by businesses resuming operations and adjusting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, the remote work and closure of business activities which resulted in operational challenges.
The market is expected to reach $ 9.24 billion in 2025 at a CAGR of 9%.
The increase in maritime accidents caused by human error leads to high financial losses which are expected to be a major driver for the growth of the autonomous vessels market. Unmanned vessels or autonomous technology capture accidents due to human error and contribute to the higher potential for reduction of accidents on board.
The growing threat of cybersecurity and privacy is expected to limit the growth of the Autonomous Vessels market during the forecast period. Advances in technology and the adoption of artificial intelligence (AI), mobility systems and the Internet of Things (IoT) create increased cybersecurity risks and data threats, posing a major challenge for the autonomous ship industry.
According to the Association for Computing Machinery (ACM) Autonomous Vessel Cybersecurity Journal, cybersecurity is a serious issue for autonomous vessels, regardless of vessel shape and level of autonomy, due to their dependence increased use of ICTs to control the vessel, accessibility of systems to the Internet and increased connectivity of the vessel control system to on-shore monitoring systems. Thus, the growing threat to cybersecurity and privacy is expected to be a major factor restraining the Autonomous Vessels market over the next few years.
The Autonomous Vessels market covered in this report is segmented by Autonomous into Fully Autonomous; remote operations; partially autonomous and by the end user in commercial; defense.
Large companies are undertaking various strategic initiatives such as the development of fully autonomous ships, which is likely to be a major trend driving the growth of the autonomous ship industry. For example, according to Offshore Energy news published in December 2018, Rolls Royce, a technology company, and Finferries, a state-owned ferry operator demonstrated the world’s first fully autonomous ferry in the archipelago south of the city of Turku, Finland.
He used a combination of intelligence technology from Rolls Royce ships in order to navigate autonomously during his voyage between Paraninen and Nauvo. the development of total autonomy is a major trend which should offer growth opportunities to the market.
In May 2018, Wartsila Corporation, the technology group announced the acquisition of Transas, a UK-based company for $ 257.8 million. This acquisition is part of Wartsila Corporation’s attempt to broaden the vision of the company’s intelligent marine ecosystem.
The smart marine ecosystem is a vision where smart ships connect to smart ports to improve operational efficiency and resource use to reduce risk and impact on the environment by improving safety and security. safety. Transas was founded in 1990 and is a provider of vessel and fleet operations solutions that include access to information for real-time information, digital data and electronic chart services, and infrastructure for bridge.
Main topics covered:
2. Characteristics of the autonomous vessel market
3. Autonomous Vessels Market Trends and Strategies
4. Impact of COVID-19 on autonomous vessels
5.Size and Growth of Autonomous Vessels Market
5.1. Global Historic Autonomous Vessel Market, 2015-2020, in USD Billion
5.1.1. Market drivers
5.1.2. Market restrictions
5.2. Global Autonomous Ship Forecast Market, 2020-2025F, 2030F, in USD Billion
5.2.1. Market drivers
5.2.2. Market constraints
6. Market segmentation of autonomous vessels
6.1. Global Autonomous Vessels Market, Segmentation by Autonomy, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
- Fully autonomous
- Remote operations
- Partial autonomous
6.2. Global Autonomous Vessels Market, Segmentation by End User, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
6.3. Global Autonomous Vessels Market, Segmentation by Propulsion Type, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
6.4. Global Autonomous Vessels Market, Fuel Type Segmentation, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
- Carbon neutral fuels
- LNG, Electric
- Heavy fuel oil / marine engine fuel
7. Regional and National Analysis of Autonomous Vessels Market
7.1. Global Autonomous Vessel Market, Divided by Region, Historical and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
7.2. Global autonomous vessel market, divided by country, historical and forecast, 2015-2020, 2020-2025F, 2030F, in billions of dollars
- General Electric
- DNV GL
- Rolls-Royce Holding PLC
- Kongsberg Gruppen AS
- NYK Line
- Mitsui E&S Holdings Co Ltd
- Wartsila Company
- DSME Co.
- Vigor Industrial LLC.
- Praxis Automation Technology BV
- Valmet Corp
- Automated Ships Ltd.
- ASV Global
- Rh Marin
- L3 ASV
For more information on this report, visit https://www.researchandmarkets.com/r/gzr941