Maritime Autonomous Surface Ships: Current Analysis and Forecast (2022-2030)

Maritime Autonomous Surface Ships refer to those ships that can operate independently of human interaction to varying degrees. These ships are said to contribute to improvised the safety and efficiency of maritime transportation by using the latest technology such as IoT, ICT, data analysis technology, and onshore monitoring/control bases connected by broadband communication, and automatically operate a part of or all of the onboard tasks associated with ship operations, such as observing its surroundings (lookout), equipment status monitoring, ship maneuvering, engine control, cargo management/loading, docking and undocking, and others. These ships are classified based on the level of autonomy from AL1 to AL6 proposed by Lloyd's Register of Shipping (UK).

The Maritime Autonomous Surface Ships Market is expected to grow at a steady rate of around XX% owing to the increasing number of accidents due to human errors. The maritime industry plays an important role in the global trade, transportation, and economic development of the country. With the emergence of new technologies such as radar, high-definition cameras, light detection and ranging (LiDAR), sonar, and others driving the ships without human intervention is possible. The maritime industry has witnessed a significant rise in accidents and incidents over a couple of years, resulting in the need for safer and more efficient operations. Moreover, the need for autonomous ships is increasing due to the increasing occurrence of collisions and groundings due to human errors, fatigue, or other operational shortcomings. For instance, In January 2021, The Panama-flagged Ever Given, a colossal container ship, crashed into a bank on a single-lane stretch of the canal, blocking the waterway for six days. The 400-meter (1,310-foot) vessel was loaded with about 18,300 containers and held up USD 9bn a day in global trade and strained supply chains. Maritime autonomous surface ships have leveraged real-time data, including weather conditions and other issues. Therefore, the increasing number of accidents drives the maritime autonomous surface ships market.

Based on level of autonomy, the market is segmented into semi-autonomous, fully-autonomous, and remote operations. The remote operations segment becomes the focal point in the maritime autonomous surface ships market in the forecast period as ships are equipped with advanced security systems. Moreover, remote operations have a plentiful advantage as they eliminate human error, increase the safety for life, reduce crewing costs, and allow the operation of more than one crew member at the same time. Additionally, it also allows more efficient use of space in ship design and efficient use of fuel. A three-year research project by MUNIN (Maritime Unmanned Navigation through Intelligence in Networks) has shown that these ships can lead to significant cost savings over the long term. According to the project, autonomous vessels can reduce fuel consumption and crew supplies, and salaries by over USD7 million over 25 years. This is a significant saving, and it's no wonder that so many ship operators are interested in exploring the possibilities of autonomous ships, especially in remote operations.

Based on propulsion type, the market is segmented into conventional, hybrid, and fully electric. The fully-electric segment is expected to dominate in the forecast period as there is reluctance in fossil fuels and surface ships are weighted and long as more than 300 meters, consume a lot of fuels. Moreover, the electric engine does not require any additional time to warm up the engine and it can be charged at the same by solar panels as well as wind generators. Additionally, the development of more sophisticated and reliable batteries has forced manufacturers to shift to electric autonomous ships, with the advancement of technology these batteries have increased storage capacity, power output, and durability have made it possible to power entire ships, and the recharging time is also decreased. Moreover, electric autonomous ships also use regenerative braking, which uses energy from the ship's motion and converts it into electrical energy, further providing support to the ships and increasing efficiency.

Based on application, the market is bifurcated into commercial, and defense. Among them, the commercial segment to hold a significant share of the market in 2022. The commercial segment has dominated the market and is expected to dominate in the forecast period. The major factor attributed to the segment's growth is the increase in the global import and export of cargo and other raw materials, the gr and these ships reduced the overall cost of the shipment, with improved safety and efficiency. Moreover, the growing number of autonomous ships all over the world due to technological advancements can reduce human errors and save billions of dollars as ships can operate 24*7 without any breaks or rest.

For a better understanding of the market adoption of the Maritime Autonomous Surface Ships industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Mexico, and the Rest of North America), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), Rest of World. The Asia Pacific region is projected to be the fastest-growing region in the forecast period as the region is having the most number of production units in countries such as China, India, and Vietnam. These countries are the hub of production units of electronic appliances, and brown and white goods that are exported all over the world. Therefore, the increase in trade between countries has rise the demand for maritime autonomous surface ships. Moreover, the region has a greater number of fleets in countries like India, and China, and an increase in tourism & recreational activities has further increased the demand for the market.

Some of the major players operating in the market include: Rolls Royce PLC; Mitsui & Co., Ltd.; Honeywell International Inc.; General Electric; Kongsberg Gruppen; NYK Line; L3Harris Technologies, Inc.; ABB; Yara International ASA; Samsung Heavy Industries.