Home / Press Release / Global Autonomous Electric Ship Market is Expected to Grow a CAGR of 8.7% during the Forecast Period

Global Autonomous Electric Ship Market is Expected to Grow a CAGR of 8.7% during the Forecast Period

The latest market report published by Credence Research, Inc. “Global Autonomous Electric Ship Market: Growth, Future Prospects, and Competitive Analysis, 2015 - 2027”. The Global Autonomous Electric Ship Market generated revenue of around USD 88,900 million in 2020 and anticipated to grow at a CAGR of over 7.5% during the forecast period from 2021 to 2027 to reach around USD 1,47,488 million in 2027.

Global Autonomous Electric Ship Market, 2020 – 2027 (USD Million)

Browse the full report at  https://www.credenceresearch.com/report/autonomous-electric-ship-market 

Autonomous electric ship is a remote built ship where operation is performed by remote control machinery. Also, these operations are run by the people located at the shore. Autonomous needs high-quality systems and reliable communication structure with the help of connectivity, sensor technology and control algorism. RADAR technology is used through the control system used for autonomous electric ships. YARA BIRKELAND is the world's first electric and autonomous container ship, has zero emissions. This includes the integration and sensors required for autonomous operations, also to the electric energy, battery and propulsion control system.

Key Trends in Global Autonomous Electric Ship Market

Rising Investment in Autonomous Electric Ship Projects

The rise in the investment in the autonomous projects is a factor expected to drive the growth of global autonomous electric ship market. Increasing development of next-generation autonomous vessels is another factor expected to drive the growth of the global market during the forecast period. Rising adoption of autonomous electric ship for the purpose of operating automate numerous procedures such as navigation and propulsion vessel with the use of components including sensors and automated navigation and propulsion control systems are factors expected to drive the market growth. Growing use of software, and automated systems to reduce human errors and increasing demand for situational awareness in vessels, are factors projected to fuel the growth of the global market.

Impact of COVID 19 on Autonomous Electric Ship Market

Due to the occurrence of COVID-19, passenger and cargo ships across the globe have been turned from ports by resident authorities, later 300,000 merchant sailors were stuck at sea for few months, far outside their contractual agreements. As a consequence of the pandemic and the change in the global shipping outlook. It is predictable the financial impact of COVID-19 may affect to stoppage in autonomous electric ships project.

Global Autonomous Electric Ship Market by Autonomy Insights

Semi-Autonomous and Fully-Autonomous are some of the major autonomies through Autonomous Electric Ship. Fully-autonomous segment accounted for the most lucrative segments of the Autonomous Electric Ship Market in 2020.  

Global Autonomous Electric Ship Market by Ship Type Insights

Commercial, Passenger, and Defense are the ship type of Autonomous Electric Ship Market. In 2020, Commercial accounted for the largest share of Autonomous Electric Ship Market.

Global Autonomous Electric Ship Market by Fuel Type Insights

Global Autonomous Electric Ship Market is segmented based on fuel type as Carbon Neutral Fuels, LNG, Electric Batteries, and Heavy fuel Oil/Marine Engine Fuel. Carbon Neutral Fuels accounted for significant revenue share in the global market.

Global Autonomous Electric Ship Market by Regional Insights

The Asia-Pacific autonomous electric ship market is expected to dominate the global market over the forecast period. This is attributed to the increasing demand for large presence and commercial vessels of shipping sector within the region. Europe autonomous electric ship market is anticipated to witness significant growth over the forecast period, due to rising demand for cruise ships as well as autonomous ships and rising adoption of autonomous systems and components to be retrofitted in the current ships in the region.

Global Autonomous Electric Ship Market Competitive Landscape

Most prominent players in the global Autonomous Electric Ship Market include Northrop Grumman, Rolls-Royce, Ulstein Group ASA, Wartsila., ABB Ltd., Google LLC (Google), Shone Automation Inc., Buffalo Automation, L3 ASV, Honeywell International, Robotics, Inc., Kongsberg Gruppen, Marine Technologies LLC, Mitsui O.S.K. Lines, Neptec Technologies Corp., Intel Corporation. The report covers very detailed profiles of these key players.

Market Segmentation

Global Autonomous Electric Ship Market by Level of Autonomy, 2015 - 2027

· Semi-Autonomous

· Fully-Autonomous

Global Autonomous Electric Ship Market by Ship Type, 2015 - 2027

· Commercial

· Passenger

· Defense

Global Autonomous Electric Ship Market by Fuel Type, 2015 - 2027

· Carbon Neutral Fuels

· LNG

· Electric Batteries

· Heavy fuel Oil/Marine Engine Fuel

Global Autonomous Electric Ship Market by Component, 2015 - 2027

· Hardware

· Software

Global Autonomous Electric Ship Market by Region, 2015 - 2027

· North America

· Europe

· Asia Pacific

· Latin America

· Middle East and Africa

Global Autonomous Electric Ship Market: Key Players

· Northrop Grumman

· Rolls-Royce

· Ulstein Group ASA

· Wartsila.

· ABB Ltd.

· Google LLC (Google)

· Shone Automation Inc.

· Buffalo Automation

· L3 ASV

· Honeywell International

· Robotics, Inc.

· Kongsberg Gruppen

· Marine Technologies LLC

· Mitsui O.S.K. Lines

· Neptec Technologies Corp.

. Intel Corporation

Request Sample


Contact Information
24/7 Research Support
Phone: +1-800-361-8290
sales@credenceresearch.com
Get in Touch with us
Join us on Facebook
Follow us on Twitter
Join us on LinkedIn