Autonomous Ships Market to Exhibit 8.4% CAGR from 2023 to 2030; Market Leaders Revolutionize Maritime Security with Technological Innovations

The global autonomous ships market size was valued at USD 5.21 billion in 2022. The market is projected to grow from USD 5.61 billion in 2023 to USD 9.87 billion by 2030, exhibiting a CAGR of 8.4% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Autonomous Ships Market Size, Share, COVID-19 Impact & Russia-Ukraine War Analysis, By Autonomy (Partial Automation, Fully Autonomous and Remotely Operated), By Solution (Hardware and Software), By Ship Type (Commercial and Defense), By End User (Line Fit and Retrofit), and Regional Forecast, 2023-2030” Prominent market players have been actively developing cutting-edge solutions to enhance maritime security in recent years by embracing advanced technologies such as AI, AR, and advanced navigation systems in the market. In April 2020, Hyundai Heavy Industries (HHI) showcased its commitment to technological advancement by installing the "Hyundai Intelligent Navigation Assistance System" (HiNAS) on a 250,000 dwt tanker. HiNAS leverages AI capabilities to automatically detect nearby ships and captures crucial data such as their speed and position.

COVID-19 Disrupted Maritime Activities Affecting the Boating Market

The pandemic had significant repercussions on the maritime industry. The boating market was affected by the pandemic, experiencing declines in fishing tourism, cruise tourism, and leisure activities. Furthermore, the outbreak had an impact on the workforce, with many sailors forced to retire or renew their employment contracts amidst the challenging circumstances.

Ukraine's Successful Deployment of Armed Autonomous Ships Revolutionizes Naval Warfare

The use of autonomous ships in naval operations has gained significant traction, offering numerous advantages over traditional manned vessels. In a notable event in September 2022, Ukraine successfully employed self-propelled "drone" boats in a full-scale attack on the Russian navy in Sevastopol, Crimea. This momentous event has revolutionized the future of naval warfare, as it marks the first instance of multiple armed autonomous ships operating in coordination with drones to effectively carry out offensive military actions against naval targets.

L3Harris Technologies and BigBear.ai Collaborate to Enhance Maritime Defense with Autonomous Surface Vessels and AI

In an exciting partnership, L3Harris Technologies and BigBear.ai have joined forces to deliver cutting-edge autonomous surface vessels (ASVs) and advanced artificial intelligence (AI) capabilities for maritime defense programs. The collaboration aims to integrate L3Harris' ASView system with BigBear.ai's predictive computer vision technology to enhance vessel identification, classification, situational awareness, and support for both manned and unmanned group missions.

Accelerated Market Growth Fueled by Advanced Software and Hardware Solutions in Next-Generation Ships

The market is witnessing accelerated growth driven by the adoption of advanced software and hardware solutions for the development of next-generation ships. A notable example is the collaboration between IBM and ProMare, who launched the Mayflower Autonomous Ships (MAS) in September 2020. MAS incorporates solar energy and leverages IBM technologies such as automation, artificial intelligence, cloud computing, and edge technologies. Furthermore, Yara International has developed the first fully electric cargo ship, scheduled to commence operations in Norway by 2021. These advancements in next-generation ships are poised to fuel market growth.

However, the increasing threat of cyberattacks due to automation and digitization of ships may stifle the market growth.

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Kongsberg Maritime Secures Supply Contract for HUGIN Endurance Autonomous Underwater Vehicle (AUV) System

Companies in the autonomous ship sector are concentrated on expanding their business by creating advanced ships and systems. In October 2022, Kongsberg Maritime revealed that they had secured a supply contract for their HUGIN Endurance Autonomous Underwater Vehicle (AUV) system from an undisclosed partner. The HUGIN Endurance is a large AUV intended for land-to-shore operations and is the flagship model in the HUGIN AUV lineup. It has dimensions of approximately 1.2 meters in diameter, 11 meters in length, and weighs around 7,000 kilograms.

Key Industry Development

• January 2022 – Fugro, the world's leading geodata specialist, has ordered the SEA-KIT XL class unmanned surface vessel (USV) for future operations in the North Sea. The 18m USV, the first of its kind, will be built at SEA-KIT's expanding UK manufacturing facility on the Essex coast.

List of Companies Profiled in the Market Report:

• ABB (Switzerland)
• ASELSAN A.Ş. (Turkey)
• BAE Systems (U.K.)
• Fugro (Netherlands)
• GE (U.S.)
• Honeywell International Inc. (U.S.)
• Kongsberg Gruppen Maritime (Norway)
• L3 ASV (U.S.)
• Northrop Grumman (U.S.)
• Rolls Royce plc (U.K.)
• Siemens Energy (Germany)
• Wärtsilä (Finland)
• Marine Technologies LLC (U.S.)
• Ulstein Group ASA (Norway)
• Mitsui (Japan)
• Sea Machines Robotics Inc. (U.S.)
• Neptec Technologies Corp. (Canada)

Further Report Findings

• Asia Pacific held a significant autonomous ships market share valued at USD 1.96 billion in 2022 due to its rapid economic growth and flourishing maritime trade. According to UNCTAD's 2022 Maritime Transport Review, the region maintained its position as a vital hub for handling global cargo, with 42% of exports and 64% of imports. This led to the market's expansion in Asia Pacific.
• North America is also experiencing notable growth in this market as it invests more in the development of advanced commercial and defense ships.

Table of Segmentation