Autonomous Ships Market

ABB (Switzerland), Rolls-Royce PLC (UK), and Kongsberg (Norway) are leading players in Autonomous Ships Market

The autonomous ships market is estimated to be USD 5.8 billion in 2020 and is projected to reach USD 14.2 billion by 2030, at a CAGR of 9.3% from 2020 to 2030. Some of the major factors driving this market include the increasing global sea trade, improving marine navigational safety resulting in lesser accidents, and growing maritime tourism.

The demand for new ships and the retrofitting of existing ships with advanced technologies is expected to grow with the increase in trade activities. New defense and commercial vessels are equipped with advanced systems for improved safety and efficiency. The implementation of advanced systems acts as an important driver for the autonomous ships market. Autonomous ships are one of the variants of automated vessels. These ships involve integrating various systems and subsystems, enabling effective decision-making based on sensor fusion technology and Artificial Intelligence (AI) for processing the data, hence reducing or eliminating human intervention.

Contracts are among some of the key strategies adopted by the leading market players to strengthen and sustain their position in the autonomous ships market. In September 2020, Kongsberg Maritime and Massterly, a Kongsberg Wilhelmsen joint venture, signed contracts with the leading Norwegian grocery distributor ASKO to equip two new vessels with autonomous technology and manage their operations at sea.

Key Players in the autonomous ships market ABB (Switzerland), Honeywell International, Inc. (US), Rolls-Royce PLC (UK), Wartsila (Finland), and Kongsberg (Norway) are industry majors and have largely benefitted from their well-recognized brands, a wide range of products, and strong distribution capabilities in the autonomous ships market. This is also confirmed by their growth rates, which have been very similar to that of the market. These companies offer their products, solutions, and services to various shipbuilding manufacturers. The products & services provided by these leading players play a vital role in commercial and defense.

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ABB is the leading player in the autonomous ships market. The company is undertaking the expansion of the existing activities through collaborations and contracts. The company is focusing on the development of autonomous shipping systems in 2018, ABB took an important step toward the development of more autonomous shipping systems with a groundbreaking remote control trial of a passenger ferry, piloted by a captain onshore. The trial in Helsinki harbor showed that as vessels become more electric, digital, and connected, ABB is able to equip seafarers with solutions that augment their skillsets and enhance the overall safety of marine operations.

Rolls-Royce PLC is ranked second in the autonomous ships market. The company is enhancing its business through its product portfolio. Rolls-Royce has provided a hybrid propulsion system at 690V for the Royal New Zealand Navy’s largest ever vessel, HMNZS Aotearoa auxiliary tanker, comprising Rolls-Royce active front end propulsion drives, switchboards, power management system, diesel generators, and main engines.

Kongsberg provides marine systems through the Kongsberg Maritime segment. The companys core competencies include engineering cybernetics, signal processing, software development services, and system integration for various marine vehicles.

The companys major subsidiaries are Kongsberg Defence & Aerospace AS, Kongsberg Maritime AS, and Kongsberg Next AS. The company has its presence in Europe, the Middle East, Africa, Asia Pacific, North America, and South America. The major competitors of the company are ABB, Wartsila, Emerson, and Sonardyne, among others.

Related Reports:

Autonomous Ships Market by Autonomy (Fully Autonomous, Remote Operations, Partial Automation), Ship Type (Commercial, Defense), End-Use (Linefit, Retrofit), Solution (Systems, Software, Structures), Propulsion and Region - Global Forecast to 2030

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Report Code
AS 6834
RI Published ON
1/14/2021
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