Autonomous Ships Market is projected to reach USD 13.8 billion by 2030

Rolls-Royce along with ferry operator Finferries demonstrates the world's first autonomous ship in Finland

In a move that might change the way ships are being used, Rolls-Royce, in December 2018, announced the development of the world's first autonomous vessel "Falco". This autonomous vessel uses various technologies to successfully navigate through the sea. The ship, with 80 people aboard was fully autonomous during its journey. The vessel used sensor fusion technology, artificial intelligence, and collision avoidance system for detecting objects.  The ship is 53.5 meters long, equipped with Rolls-Royce twin azimuth thrusters
In 2018, both the companies also collaborated on research projected Safer Vessel with Autonomous Navigation (SVAN) which implements the findings from the Advanced Autonomous Waterborne Applications (AAWA) research project.

Ships of the Future:
Autonomous Ships are the one having automation systems installed on it. Companies such as Rolls-Royce, Kongsberg, are investing heavily to develop fully autonomous ships. A lot of developments are happening in the European region especially in Scandinavian countries such as Norway and Denmark. In Partial automation ships, several technologically advanced systems such as Propulsion Control Systems, Power Management Systems, Navigation Systems, and Communications & Connectivity Systems are automated. These automation systems are either installed at the time of manufacturing or they are installed while dry docking of the ship.
Marine automation systems offered by various companies, such as Wartsila Corporation, Kongsberg Gruppen, ABB, and Siemens can optimize operations of ships by lowering the communication time required by operators, reducing the number of route alarms, improving the fuel efficiency of ships, and enhancing performance by carrying out hull diagnostics, engine diagnostics, route planning, and speed profile optimization. According to secondary research, both, overdependence of the maritime industry on e-navigation and lack of trained personnel to handle and operate integrated marine automation systems have resulted in several maritime accidents across the globe. Thus, meeting the minimum training criteria is not enough as personnel handling marine automation systems need to be rigorously trained to avoid such mishaps. 

Market Development:

MarketsandMarkets™ View Point:
According to the View Point of MarketsandMarkets™, Autonomous Ships market is estimated to be USD 6.1 billion in 2018 and is projected to reach USD 13.8 billion by 2030, at a CAGR of 7.00% from 2018 to 2030.
Recent technological advancement in the field of artificial intelligence, big data analytics, vessel traffic management, and satellite communication are expected to drive the market for autonomous ships. Development of fully autonomous ships is expected to reduce piracy, human errors and will help in carrying more cargo.

Some of the important recent developments observed in the autonomous ships market:

Majors such as Rolls-Royce, Kongsberg, and other industry players including start-ups are investing increasingly in the research and development of all fully autonomous ships aided by Artificial Intelligence—for better decision making and improved situational awareness (through the sensor fusion technology). Currently, the fully autonomous ships market is in its nascent stage, however, with the maturity of marine automation technology by 2030, the market is expected to witness high adoption.
In 2018, a contract was signed between Kongsberg, and VARD to develop the fully autonomous ship. The vessel, YARA Birkeland, will be remotely operated by 2020, after which by 2022, it will be developed to be fully autonomous.

Other initiatives:

Rolls Royce has partnered with VTT Technical Research Centre (Finland), to design, test, and validate remotely operated ships.

In December 2018, ABB took the next step in autonomous shipping by conducting a trial of a remotely operated passenger ferry. The ferry, known as Ice-class passenger ferry Suomenlinna II, was remotely piloted with the cooperation between ABB and Helsinki City Transport
Wärtsilä successfully completed a further round of test procedures of its automated dock-to-dock solution. In the presence of the Norwegian Maritime Authority (NMA), the system was further tested on the ferry Folgefonn, this time for full dock-to-dock capability, with the autonomous operation being utilized uninterrupted for the entire route, visiting all three ports serviced by the ship

Conclusion:

In recent times, there has been increase in maritime trade & tourism. This has resulted in new shipbuilding orders. Increase in accidents due to human errors, and piracy will enable adoption of fully autonomous ships in future. Additionally, high operating costs and high fuel consumption are associated with traditional ships, which is propelling ship manufacturers to focus on the development of fuel-efficient autonomous ships.
As current technologies have reached the peak of their development cycle, newer techniques have slowly started making headway in the shipping industry. Therefore, the next logical step is to build on and integrate upcoming technologies to create safe and efficient ships of the future.

The autonomous ships market is anticipated to witness moderate growth in the near future, primarily driven by the requirement for improved efficiency and reliability for automation through modern technologies and the rise in passenger and freight movement. Technological advancements have resulted in the development of smart automation systems and autonomous ships with high performance, thereby enhancing growth prospects for manufacturers of marine automation systems.


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