Integrated Marine Automation System Market

ABB (Switzerland) and Rolls-Royce PLC (UK) are Leding Players in the Integrated Marine Automation System Market

The integrated marine automation system is projected to grow from USD 4.9 billion in 2020 to USD 7.8 billion by 2025, at a CAGR of 10.0% from 2020 to 2025. 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 are expected to grow with increased trade activities. New defense and commercial vessels are equipped with advanced systems for improved safety and efficiency.

Automation systems act as important risk management tools as they help in the detection of individual component failures in a ship to ensure safety. According to the report published by Sea Europe in 2018, the marine sector witnessed growth in the number of delivery of ships, boats, and submarines since 2011. However, in 2016, the shipbuilding industry reported a decline in orders for new ships due to the oversupply of tankers, container ships, and bulkers. Nonetheless, the growth in maritime tourism resulted in an upsurge in sales of passenger ships and cruises in the same year. Thus, the rise in the number of commercial vessels is one of the most significant factors driving the integrated marine automation system market.

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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 integrated marine automation system 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.

ABB is the leading player in the integrated marine automation system 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 integrated marine automation system 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. Major competitors of the company are ABB, Wartsila, Emerson, and Sonardyne.

Related Reports:

Integrated Marine Automation System Market by Autonomy (Autonomous, Remotely-operated, Partial Automation), Ship Type (Commercial, Defense, Unmanned), End User (OEM, Aftermarket), Solution (Products, Services), System and Region-Global Forecast to 2025

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Report Code
AS 6573
RI Published ON
2/26/2021
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