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Global Autonomous Ships Market To Be Driven By The Increase In Operational Safety Of Ships In The Forecast Period Of 2021-2026

The new report by Expert Market Research titled, ‘Global Autonomous Ships Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global autonomous ships market, assessing the market based on its segments like level of autonomy, component, ship type, fuel type, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with?analysing?the market based on the SWOT and Porter’s Five Forces models.

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The key?highlights of the report include:

Market Overview (2016-2026)

  • Historical Market Size (2020):?USD 84.6 Billion
  •  
  • Forecast CAGR (2021-2026):?2%
  •  
  • Forecast Market Size (2026):?USD 128.4 Billion

New defence and commercial vessels are outfitted with cutting-edge technologies to increase safety and efficiency. The deployment of sophisticated technologies is a key driver in the market for autonomous ships. One of the primary drivers driving demand for autonomous ships around the world is the rise in marine accidents caused by human errors, which result in financial losses and harm to the marine ecology. Apart from that, millennials around the world are deterred from becoming sailors due to a high level of isolation and the unappealing nature of the profession. Another aspect that is positively influencing the market for unmanned ships is the increased demand for seagoing specialists for maritime trading. The autonomous ships industry is expected to grow due to recent advances in commercial boats and big companies’ cargo ships. The deployment of autonomous marines, particularly in cargo ships, is projected to increase demand for freight transportation via maritime routes.

Industry Definition and Major Segments

Autonomous ships are technologically advanced watercraft that are equipped with RADAR, LIDAR, high-definition cameras, thermal imaging, and sonar. They help the operating system make decisions and reduce crew sizes to reduce the need for accommodations, simplify the design, boost cargo carrying capacity, and cut construction costs.

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The major levels of autonomy in autonomous ships are:

  • Semi-Autonomous
  •  
  • Fully Autonomous

The market can be broadly categorised on the basis of its components into:

  • Hardware
  •  
  • Software

The market can be divided based on ship type into:

  • Commercial Ships
  •  
  • Defence Ships
  •  
  • Passenger Ships

The industry is fragmented by fuel type into:

  • Carbon Neutral Fuels
  •  
  • Liquefied Natural Gas
  •  
  • Electric Batteries
  •  
  • Heavy Fuel Oils (HFO)
  •  

On the basis of?region, the industry is divided into:

  • North America
  •  
  • Europe
  •  
  • Asia Pacific
  •  
  • Latin America
  •  
  • Middle East?and?Africa

Market Trends

A positive market outlook is being created by the integration of artificial intelligence (AI) and robotics with autonomous ships, and developments in sensor technologies for improved navigation systems. Leading market participants are working on implementing the Internet of Things (IoT) and other cutting-edge technologies to reduce maritime traffic’s environmental impact and boost the efficiency of autonomous marine enterprises. Other main drivers expected to drive the market include a considerable increase in seaborne trade, a surge in maritime tourism, and significant investments in research and development (R&D) initiatives to develop dependable and cost-effective unmanned vessel operations. Compared to road and air transits, cargo ships are less expensive for delivering products since ships can transport more cargo in a shorter amount of time. This is aiding the market growth of autonomous ships.

Key Market Players

The major players in the market?are ABB Ltd., L3Harris Technologies, Inc., Rolls-Royce PLC, and Wärtsilä, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

We also provide state-of-the-art procurement intelligence through our platform, https://www.procurementresource.com. Procurement Resource is a leading platform for digital procurement solutions, offering daily price tracking, market intelligence, supply chain intelligence, procurement analytics, and category insights through our thoroughly researched and infallible market reports, production cost reports, price analysis, and benchmarking.

Informes de Expertos (https://www.informesdeexpertos.com), the Spanish variant of Expert Market Research, is a platform that offers market research and consultancy services to a broad clientele base across Spanish speaking countries. With our primary focus on the Latin America and Spain markets, our research experts provide relevant and actionable insights into the markets and track major trends, economic developments, and global trade data.

Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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Menafn, Reportedtimes, PR-Wirein, Extended Distribution, Research Newswire, English

Contact Information:

Company Name: EMR Inc.

Contact Person: Matt Johnson, Corporate Sales Specialist – U.S.A.

Email: sales@expertmarketresearch.com

Toll Free Number: +1-415-325-5166 | +44-702-402-5790

Address: 30 North Gould Street, Sheridan, WY 82801, USA

City: Sheridan

State: Wyoming

Country: United States

Website: https://www.expertmarketresearch.com