PUBLISHER: The Business Research Company | PRODUCT CODE: 1274533
PUBLISHER: The Business Research Company | PRODUCT CODE: 1274533
“Autonomous Boats Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on autonomous boats market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for autonomous boats? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The autonomous boats market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Major players in the autonomous boats market are ABB Ltd., BAE System, The General Electric Company (GE), Honeywell International Inc., Kongsberg Maritime, L3Harris Technology Inc., Northrop Grumman, Rolls-Royce Plc., Wartsila Oyj Abp, Aselsan A.S., Fugro, Siemens Energy, Ulstein Group ASA, Marine Technologies LLC, and Flying Ship Technologies Corp.
The global autonomous boats market is expected to grow from $1.14 billion in 2022 to $1.22 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The autonomous boats market is expected to grow to $1.56 billion in 2027 at a CAGR of 6.3%.
The autonomous boats market consists of revenues earned by entities by providing autonomous container ships and maritime autonomous surface ships (MASS). The market value includes the value of related goods sold by the service provider or included within the service offering. The autonomous boats market also includes sales of software programs that are used to provide autonomous boat services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Autonomous boats refer to boats using computers to process data and make navigational decisions. They are frequently pre-programmed to go a specific path, just like a crew will arrange their shipping route before departing port.
Asia-Pacific was the largest region in the autonomous boats market in 2022. The regions covered in the autonomous boats market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of autonomous boats are commercial and military. Commercial boats refer to any cargo carried aboard a business vessel, including people who are hired or paid to be there. The components involved are hardware and software that consists of carbon-neutral fuels, liquefied natural gas, electric batteries, and heavy fuel oils (HFO) fuel types and are of partial automation, remotely operated, and fully autonomous.
An increase in demand for cargo transportation through marines is expected to propel the growth of the autonomous boats market going forward. Cargo transportation refers to the transportation of bulk commodities by water, air, or land. Due to the safe and secure nature of water transportation, cargoes are efficiently transferred to other ports, leading to increased demand for cargo transit via waterways involving and creating demand for autonomous boats. For Instance, according to UNCTAD - United Nations Conference on Trade and Development based in Switzerland, a United Nations Secretariat that promotes the interests of developing countries in world trade, in 2021, Asia continued to be the world's top marine freight region in 2021, with Asian ports, including those in developed and developing nations, loading around 4.6 billion tons of cargo-or nearly 42% of all the cargo loaded in ports globally. In 2021, Asian ports received almost 7.1 billion tons of cargo, or 64% of all products released globally. Hence increase in demand for cargo transportation through marines is expected to propel the growth of the autonomous boat market
Technology advancement is a key trend gaining popularity in the autonomous boats market. Major companies operating in the autonomous boats market are focused on developing new technological solutions to strengthen their position in the market. For instance, in November 2021, Yara Birkeland, a Norway-based manufacturer of electric and autonomous container vessels, innovated the first completely autonomous, electric cargo ship in the world. It will replace 40,000 trips made by diesel-powered trucks annually and reduce CO2 emissions by 1,000 tons.
In January 2021, Huntington Ingalls Industries Inc, a US-based military shipbuilding company acquired the unmanned systems division of Spatial Integrated Systems (SIS) for an undisclosed amount. The acquisition significantly broadens the scope of Huntington Ingalls Industries Inc's unmanned systems solutions with SIS' workforce and proven unmanned surface vessel (USV) solutions. Spatial Integrated Systems (SIS) is a US-based provider of USV perception and swarming technology to the U.S. Navy.
The countries covered in the autonomous boats market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The autonomous boats market research report is one of a series of new reports from The Business Research Company that provides autonomous boats market statistics, including autonomous boat industry global market size, regional shares, competitors with autonomous boat market share, detailed autonomous boat market segments, market trends, and opportunities, and any further data you may need to thrive in the autonomous boat industry. This autonomous boat market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.