Autonomous Ships Market To Reach $217.6 Billion, Globally, By 2033 At 9.5% CAGR: Allied Market Research

(MENAFN- GlobeNewsWire - Nasdaq) Increase in demand for cargo transportation, surge in focus on reducing emissions, and increase in operational safety of ships drive the growth of the global autonomous ships market.

Wilmington, Delaware, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Allied market Research published a report, titled, " Autonomous Ships Market by Level of Autonomy (Semi-Autonomous and Fully-Autonomous ), Component (Hardware and Software), Ship Type (Commercial Ships, Defense Ships, and Passenger Ships), and Propulsion (Full Electric and Hybrid): Global Opportunity Analysis and Industry Forecast, 2024-2033" . According to the report, the "autonomous ships market" was valued at $89.3 billion in 2023, and is estimated to reach $217.6 billion by 2033, growing at a CAGR of 9.5% from 2024 to 2033.

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Prime Determinants of Growth

The global autonomous ships market has experienced significant growth and transformation, driven by increase in demand for cargo transportation, surge in focus on reducing emissions, and increase in operational safety of ships. Moreover, advancement in real-time data sharing & connectivity solutions and supportive regulatory frameworks are anticipated to provide lucrative market growth opportunities during the forecast period.

Report coverage & details :

Report Coverage	Details
Forecast Period	2024–2033
Base Year	2023
Market Size in 2023	$89.3 billion
Market Size in 2033	$217.6 billion
CAGR	9.5%
No. of Pages in Report	278
Segments Covered	Level of Autonomy, Component, Ship Type, Propulsion, and Region
Drivers	Increase in demand for cargo transportation Surge in focus on reducing emissions Increase in operational safety of ships
Opportunities	Advancement in real-time data sharing and connectivity solutions Supportive regulatory frameworks
Restraints	High development and operational cost Cybersecurity concerns

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The semi-autonomous segment held the highest market share in 2023.

By level of autonomy, the semi-autonomous segment held the highest market share in 2023 as fully autonomous ships require advanced sophisticated technologies to handle all navigation, decision-making, and emergency responses. However, this technology is still developing, and there are concerns about its ability to handle unexpected situations, such as severe weather or equipment malfunctions without human intervention. Semi-autonomous ships benefit from having human operators who can assist or take control when needed, improving overall safety. In addition, semi-autonomous systems are less expensive to develop and implement than fully autonomous solutions. Moreover, they require fewer changes to vessel design and can be integrated more easily with existing fleet infrastructure.

However, the fully autonomous segment is expected to have the highest CAGR of 10.5% during the forecast period as fully autonomous ships reduce the cost of operation such as for onboard crew. In addition, fully autonomous ships segment has grown due to advancement in artificial intelligence, machine learning, and sensor technologies.

The hardware segment held the highest market share in 2023.

By component, the hardware segment accounted for a dominant market share and highest CAGR in 2023 due to the fact that autonomous ships operate in harsh marine environments, where hardware needs to withstand extreme weather and saltwater corrosion. High-quality, durable hardware such as sensors, radar, and propulsion systems are essential to ensure reliable operation over long distances and extended periods without direct human intervention. Moreover, autonomous ships handle vast amounts of real-time data from multiple sensors. Processing this data requires high-performance computing hardware that can deliver rapid responses.

The commercial ships held the highest market share in 2023.

By ship type, the commercial ships segment accounted for the largest market share and is anticipated to maintain its dominance till 2033owing to the fact that the commercial shipping sector is vast and operates at a much larger scale than either defense or passenger shipping. The global trade industry involves extensive fleets of container ships, bulk carriers, and tankers that constantly move goods across international waters.

The hybrid segment held the highest market share in 2023.

By propulsion, the hybrid segment accounted for a dominant market share in 2023 and is anticipated to maintain its dominance till 2033 as fully electric ships are limited by current battery technology, thus restricting their range and the duration they operate before needing to recharge. Hybrid ships, on the other hand, combine traditional fuel engines with electric power, enabling them to travel for longer distances without the need for frequent recharging, making them more suitable for long haul operations. Moreover, fully electric ships typically require expensive, high-capacity batteries, which add significant upfront costs. Hybrid ships, however, have lower battery requirements, resulting in a lower initial investment.

North America held the highest market share in 2023.

By region, North America held the highest market share in terms of revenue in 2023 driven by several factors such as advancements in autonomous ship technology, strong investment in in the sector, and a growing interest in enhancing operational efficiency and sustainability in the maritime industry. In addition, the U.S. Coast Guard and other regulatory bodies in North America particularly in the U.S. are working to develop frameworks and standards that govern the use of autonomous vessels. This regulatory support aims to establish safe operational guidelines, particularly for testing and commercial use in inland and coastal waters. Furthermore, with the rise in labor and fuel costs, there is a strong demand for cost effective shipping solutions, as autonomous vessels minimize operational cost and improve fuel efficiency.

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Leading Market Players : -

• WÄRTSILÄ

• Northrop Grumman

• ROLLS ROYCE

• Kongsberg Maritime

• MITSUI O.S.K. LINES

• BAE Systems

• L3Harris Technologies, Inc.

• Fugro

• Hyundai Heavy Industries

• Marine Technologies,
  

The report provides a detailed analysis of these key players in the global autonomous ships market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.

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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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