Autonomous Ships Market - Technological Advancements and Evolving Industry Trends

Seattle, WA, USA, September-30, 2019 /Aerospace NEWS-- 

Autonomous Ships Market Worth $13.8 Billion by 2030 

According to the new market research report "Autonomous Ships Market by Autonomy (Fully Autonomous, Remote Operations, Partial Automation), Ship Type (Commercial, Defense), End Use (Linefit, Retrofit), Solution (Systems, Software, Structures), and Region - Global Forecast to 2030", published by MarketsandMarkets™, the Autonomous Ships Market is estimated to be USD 6.1 billion in 2018 and is projected to reach USD 13.8 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.00% from 2018 to 2030. This market is driven by factors such as the increasing world trade by sea, increasing maritime navigation, increasing demand for automation systems for safety, and growing maritime tourism.

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The fully autonomous segment to grow at a higher CAGR in the autonomous ships market, among all autonomy level during the forecast period 

Based on autonomy, the fully autonomous segment is estimated to lead the autonomous ships market during the forecast period. The increasing demand for autonomous ships owing to rising human error-related accidents and increased operational expenditure is expected to drive the market for the full autonomy segment.

Increase in the demand for commercial vessels is expected to drive the line fit segment in the autonomous ships market 

Based on end use, the line fit segment of the autonomous ships market is projected to have the highest CAGR in 2018, as a result of the increase in demand for automation systems from ship operators. As the demand for commercial ships is expected to increase in the future, the line fit segment is expected to grow.

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Asia Pacific shows the highest potential for implementation of autonomous ships 

Asia Pacific is estimated to lead the autonomous ships market in 2018. Asia Pacific has witnessed rapid economic development over the years, resulting in an increase in maritime trade. This rise in sea trade has subsequently led to an increasing demand for ships for the transportation of manufactured goods worldwide. Thus, the rising number of ships has increased the demand for autonomous ships in the Asia Pacific region.

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The major players in the autonomous ships market include Wartsila (Finland), Kongsberg Gruppen (Norway), Northrop Grumman (US), Rolls-Royce (UK), General Electric (US), ABB (Switzerland), and Honeywell International (US), among others. Rolls-Royce and Kongsberg Gruppen are key market players engaged in contracts and acquisitions to increase the sale of automation systems and autonomous ships for different applications.

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Autonomous Ships market will grow at a CAGR of 7.00% from 2018 to 2030

[155 Pages Report] The 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.
Report Pages: 155

Autonomous Ships Market 

Reason To Buy :
The factors that are expected to fuel the growth of the autonomous ships market are increasing seaborne trade, increasing compliance with maritime safety norms, and the growth in maritime tourism.

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Recent Developments

• In December 2018, Rolls-Royce and Finnish state-owned ferry operator, Finferries, launched the world’s first fully autonomous ferry in the archipelago south of the city of Turku, Finland. The car ferry, Falco, used a combination of Rolls-Royce Ship Intelligence technologies to successfully navigate autonomously during its voyage between Parainen and Nauvo. The return journey was remotely controlled.
• In July 2017, Rolls-Royce opened a new facility at Finland for autonomous ship research & development. The new Research & Development Centre for Autonomous Ships includes a Remote and Autonomous Experience Space aimed at showcasing technologies that Rolls-Royce has already introduced as well as those in the development stage.
• In July 2018, Kongsberg acquired a Rolls-Royce Commercial Marine for USD 656.1 million. This acquisition is expected to help the company strengthen its position in the autonomous ships market.

Key Market Players

The major players in the autonomous ships market include Wartsila (Finland), Kongsberg Gruppen (Norway), Northrop Grumman (US), Rolls-Royce (UK), and General Electric (US). Rolls-Royce and Kongsberg Gruppen are key market players engaged in contracts to increase the adoption of autonomous ships.

Rolls-Royce Holdings plc. is a leading player in the marine engines market and a strong technology innovator. The company has adopted the expansion strategy and continues to receive contracts for various segments from recreational and commercial to defense vessels. It has a strong presence in North America, where it has received several contracts, especially for recreational vessels, such as yachts. The launch of its new subsidiary in the Middle East indicates its strategy to expand in the region. The company has also added new products to its portfolio, indicating its focus on innovation and being compliant with the latest emission norms.

Wartsila (Finland) is one of the major manufacturers of automation systems for marine vessels. The company is focused on increasing its share by developing new products and acquiring other players in the market. In November 2018, Wärtsilä successfully completed a round of test procedures of its automated dock-to-dock solutions. In the presence of the Norwegian Maritime Authority (NMA), the system was tested on the ferry, “Folgefonn,” 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.

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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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