Autonomous Ships Market

Players adopted various growth strategies, such as partnership, agreement, collaboration, expansion, acquisitions & mergers, and new product developments, to expand their presence in the Autonomous Ships Market

The autonomous ships market size is expected to grow from USD 6.1 billion in 2018 to USD 13.8 billion by 2030, at a CAGR of 7.00% during the forecast period. The major driving factors in the autonomous ships market are the increasing seaborne world trade, increasing compliance with maritime safety norms, and the growth in maritime tourism.

The major players in the autonomous ships market include Wartsila (Finland), Kongsberg Gruppen (Norway), Northrop Grumman (US), Rolls-Royce (UK), and General Electric (US), among others. These players have adopted various growth strategies, such as partnership, agreement, collaboration, expansion, acquisitions & mergers, and new product developments, to expand their presence in the autonomous ships market. Partnerships and new product launches have been the leading strategies adopted by major players from 2016 to 2018 and helped them innovate on their offerings and broaden their customer bases.

Wartsila, a Finland-based company, is among the leading manufacturer of automation systems for ships. It is primarily focused on acquiring other key players to strengthen its position in the autonomous ships market, expanding its sales channels, and enhancing its product and service offerings. In May 2018, the company acquired Transas to enhance its portfolio of bridge systems, digital products, and electronic charts. The major customers of Wartsila are merchant companies and naval institutions.

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Kongsberg Gruppen, a Norway-based company, provides high-technology systems to its customers in the marine, oil & gas, and aerospace & defense industries. The company offers marine engine monitoring systems through its Kongsberg Maritime business. In recent years, Kongsberg Maritime has received several contracts from governments as well as shipyards of different countries across the globe. For instance, in 2017, Kongsberg Maritime received an Engineering, Procurement, Construction, and Installation (EPCI) contract worth USD 22.0 million from Flensburger Schiffbau-Gesellschaft (FSG), a subsidiary of Siem Group.

Northrop Grumman is a leader in the automation of products for naval platforms and offers integrated platform management systems. It has a strong presence in the North American, European, and Asia Pacific regions. Northrop Grumman provides different types of marine solutions such as NAVGUIDE 4000 for different naval vessels. These solutions provide information gathered from various integrated sensors installed on ships. In September 2015, Northrop Grumman received a contract from the Royal Thai Navy to provide integrated bridge systems for future frigates of the Navy.

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), and Region - Global Forecast to 2030

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Report Code
AS 6834
RI Published ON
1/4/2019
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