Autonomous Ships Market Growth Factors and Competitive Analysis by 2028 | Key Players: Kongsberg, Rolls-Royce, ASV, DARPA, and NYK Line: Radiant Insights, Inc.

Autonomous Ships Market Growth Factors and Competitive Analysis by 2028 | Key Players: Kongsberg, Rolls-Royce, ASV, DARPA, and NYK Line: Radiant Insights, Inc.

PR Newswire

SAN FRANCISCO, March 5, 2020

SAN FRANCISCO, March 5, 2020 /PRNewswire/ -- The global Autonomous Ships Market is expected to witness a staggering CAGR in the years to come. This could be attributed to emphasis on automated collision avoidance by making use of maritime anti-collision regulations. On the similar lines, autonomous ships do use data fusion from satellite and position reference, and dynamic navigation and positioning. The control system herein is RADAR-based. There are control algorithms for creating the operational area's 3D map so as to secure proper autonomous operation. Unexpected objects, danger of collision, or dangerous weather conditions are identified using sensors. The collective precision mentioned above is expected to drive the market in the next 5-7 years.

Market Scope

The autonomous ships market came into being after the frequency of marine casualties shot up owing to human errors. The ships market has been designed with greater cargo capacity coupled with lower wind resistance. As such, the number of accidents gets reduced followed by optimization of processes and operations. Plus, crew accommodation doesn't come into picture. Multi-tasking is another factor driving the market; as all the issues like criminal activities, adverse climate situations, and fatality could be looked into in one go. The other factors comprise reduction in transportation time, better fuel effectiveness, and capability of using space in ship design with utmost efficiency.

Market Segmentation

The autonomous ships market is segmented based on application, type, and geography. By application, it spans security, military, and commercial. By type, the segmentation says fully autonomous and partially autonomous. By geography, the market states LATAM, Asia Pacific, MEA, Europe, and North America. European economies like Russia, Germany, Norway, and UK are focusing on extensive research in this regard. For instance – "KONGSBERG (Norway)" is into development of novel technologies control system, software programs, and sensors to ensure reliable operation on the part of autonomous ships.

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The other players contributing to the autonomous ships market include Hronn, ASV Global, K-MATE, Airbnb, Yara, Rolls-Royce, and Spotify.

This report provides detailed historical analysis of global market for Autonomous Ships from 2013-2018, and provides extensive market forecasts from 2019-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the Autonomous Ships market.

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Market Segmentation

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