Autonomous Boats Global Market Report 2024

The autonomous boats market size has grown strongly in recent years. It will grow from $1.17 billion in 2023 to $1.26 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. In the historical period, growth in this sector was driven by factors such as market acceptance of the technology, cost reduction initiatives, investment patterns, regulatory frameworks, and established historical use cases.

The autonomous boats market size is expected to see strong growth in the next few years. It will grow to $1.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. In the upcoming forecast period, growth is expected to stem from regulatory changes, diversification in market demand, infrastructure development, global economic conditions, and increased consumer acceptance. Key trends anticipated during this period include a focus on energy efficiency, integration of AI technology, enhanced data connectivity, modular design approaches, and advancements in environmental sensing capabilities.

A surge in demand for cargo transportation via marine routes is poised to drive the growth of the autonomous boats market. Cargo transportation involves the movement of bulk commodities through water, air, or land routes. The safety and security offered by water transportation make it an efficient mode for cargo transit, leading to an increased preference for autonomous boats. Notably, the Asian region emerged as the global leader in marine freight in 2021, accounting for nearly 42% of all cargo loaded in ports worldwide, as reported by UNCTAD (United Nations Conference on Trade and Development). The demand for cargo transportation through marine channels is expected to continue growing, emphasizing the significance of autonomous boats in facilitating efficient and secure waterborne cargo transit.

The escalating need for maritime security and surveillance is anticipated to be a significant driver for the autonomous boat market. Maritime security and surveillance encompass measures and technologies implemented to monitor and safeguard maritime zones, addressing security threats such as piracy, terrorism, illegal trafficking, and unauthorized access. Autonomous boats, equipped with advanced sensors and surveillance capabilities, play a crucial role in enhancing maritime security. These vessels are instrumental in applications such as border patrol, monitoring illegal fishing activities, and protecting critical maritime infrastructure. Data from the Information Fusion Centre, an India-based facility focused on maritime domain awareness and security, indicates a notable increase in incidents of theft, piracy, and robbery, underlining the heightened demand for effective maritime security measures. The surge in illegal human migration further emphasizes the role of autonomous boats in addressing security challenges and propelling market growth.

Technological advancement stands out as a key trend in the autonomous boats market, with major companies actively pursuing innovative solutions to bolster their market positions. In a notable example from November 2021, Yara Birkeland, a Norway-based manufacturer specializing in electric and autonomous container vessels, achieved a significant milestone by introducing the world's first fully autonomous, electric cargo ship. This pioneering vessel is set to replace 40,000 trips made by diesel-powered trucks annually, contributing to a substantial reduction of 1,000 tons of CO2 emissions. The focus on cutting-edge technology is a prominent factor driving advancements in the autonomous boats market, shaping the landscape of autonomous maritime transportation.

Leading companies in the autonomous boat market are dedicated to developing cutting-edge products, particularly AI-operated mother ships, to cater to the evolving needs of the marine industry and gain a competitive edge. An AI-operated mother ship is an autonomous vessel endowed with artificial intelligence capabilities, specifically designed to deploy and coordinate multiple air, sea, and submersible drones for various tasks in ocean observation. A notable example is the Zhu Hai Yun, unveiled by CSSC Guangzhou Shipbuilding Co. Ltd. in May 2022. Recognized as the world's first autonomous mothership with AI navigation, this crewless drone carrier spans approximately 290 feet in length, 45 feet in width, and 20 feet in depth. Equipped with the ability to launch numerous drones across air, sea, and submersible domains, the vessel supports diverse observation instruments. Employing task-oriented adaptive networking, the autonomous mothership enables coordinated missions, contributing to the acquisition of three-dimensional views of specific targets. This groundbreaking development in ocean observation showcases the vessel's capacity for deploying and retrieving various drones to facilitate comprehensive data collection.

In January 2021, Huntington Ingalls Industries Inc., a prominent US-based military shipbuilding company, undertook the acquisition of the unmanned systems division of Spatial Integrated Systems (SIS). The acquisition, executed for an undisclosed amount, represents a strategic move to significantly expand Huntington Ingalls Industries Inc.'s unmanned systems solutions by integrating SIS' workforce and established unmanned surface vessel (USV) solutions. Spatial Integrated Systems (SIS), a US-based provider of USV perception and swarming technology to the U.S. Navy, contributes valuable expertise and capabilities to enhance Huntington Ingalls Industries Inc.'s position in the unmanned systems sector. This strategic acquisition aligns with the industry's focus on advancing autonomous technologies and reinforces the company's commitment to delivering innovative solutions in the autonomous boat market.

Major companies operating in the autonomous boats market report are ABB Ltd., BAE System, General Electric Company, Honeywell International Inc., Kongsberg Maritime, L3Harris Technology Inc., Northrop Grumman, Rolls-Royce Plc., Wärtsilä Oyj Abp, Aselsan A.S., Fugro N.V, Siemens Energy, Ulstein Group ASA, Flying Ship Technologies Corp., Marine Technologies LLC, Mitsui Engineering & Shipbuilding Co. Ltd., DNV GL, Sea Machines Robotics Inc., Neptec Technologies Corp., Intel Corporation, Google LLC, Shone Automation Inc., Buffalo Automation Inc., CargoKite, Rekise Marine Pvt. Ltd., Ladon Robotics, Unleash Future Boats, Mapsea Corp., EcoDrone, iXblue Photonics SAS.

Asia-Pacific was the largest region in the autonomous boats market in 2023. The regions covered in the autonomous boats market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the autonomous boats market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary classifications of autonomous boats include commercial and military variants. Commercial boats carry cargo, which may include hired personnel, aboard a business vessel. The integral components consist of hardware and software incorporating carbon-neutral fuels, liquefied natural gas, electric batteries, and heavy fuel oils (HFO) among the various fuel types. These boats exhibit different levels of automation, ranging from partial automation to remote operation and full autonomy.

The autonomous boats market research report is one of a series of new reports 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.

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.


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