This report describes and explains the autonomous boats market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global autonomous boats market reached a value of nearly $1.2 billion in 2023, having grown at a compound annual growth rate (CAGR) of 2.90% since 2018. The market is expected to grow from $1.2 billion in 2023 to $1.7 billion in 2028 at a rate of 6.51%. The market is then expected to grow at a CAGR of 7.41% from 2028 and reach $2.4 billion in 2033.
Growth in the historic period resulted from the strong economic growth in emerging markets, the rising demand for marine cargo transportation, the increasing maritime security concerns and the growing tourism. Factors that negatively affected growth in the historic period included stringent laws and regulations.
Going forward, the increase in seaborne trade, the increasing defense expenditure, the increasing government support and the rising urbanization will drive the market. Factors that could hinder the growth of the autonomous boats market in the future include an increase in cyber-attacks.
The autonomous boats market is segmented by type into commercial and military. The commercial market was the largest segment of the autonomous boats market segmented by type, accounting for 62.64% or $763.74 million of the total in 2023. Going forward, the military segment is expected to be the fastest growing segment in the autonomous boats market segmented by type, at a CAGR of 7.04% during 2023-2028.
The autonomous boats market is segmented by component into hardware and software. The hardware market was the largest segment of the autonomous boats market segmented by component, accounting for 70.20% or $855.87 million of the total in 2023. Going forward, the software segment is expected to be the fastest growing segment in the autonomous boats market segmented by component, at a CAGR of 7.48% during 2023-2028.
The autonomous boats market is segmented by fuel type into liquefied natural gas, electric batteries, diesel fuel and other fuel types. The diesel fuel market was the largest segment of the autonomous boats market segmented by fuel type, accounting for 75.62% or $922.06 million of the total in 2023. Going forward, the electric batteries segment is expected to be the fastest growing segment in the autonomous boats market segmented by fuel type, at a CAGR of 8.46% during 2023-2028.
The autonomous boats market is segmented by autonomy into partial automation, remotely operated and fully autonomous. The partial automation market was the largest segment of the autonomous boats market segmented by autonomy, accounting for 68.88% or $839.82 million of the total in 2023. Going forward, the fully autonomous segment is expected to be the fastest growing segment in the autonomous boats market segmented by autonomy, at a CAGR of 11.24% during 2023-2028.
North America was the largest region in the autonomous boats market, accounting for 40.55% or $494.35 million of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the autonomous boats market will be the Middle East and Western Europe, where growth will be at CAGRs of 10.47% and 9.93% respectively. These will be followed by Eastern Europe and Asia-Pacific, where the markets are expected to grow at CAGRs of 7.17% and 6.08% respectively.
The global autonomous boats market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 80.25% of the total market in 2022. Rolls-Royce PLC was the largest competitor with a 17.35% share of the market, followed by L3Harris Technologies, Inc with 15.01%, ABB Ltd with 13.12%, BAE Systems Plc with 10.59%, Kongsberg Gruppen with 7.92%, General Electric Company with 6.72%, Wärtsilä Oyj Abp with 4.99%, Fugro with 2.32%, Marine Technologies LLC with 1.19% and Ulstein Group ASA with 1.05%. of the market, followed by Seiko Epson Corporation.
The top opportunities in the autonomous boats market segmented by type will arise in the commercial segment, which will gain $267.66 million of global annual sales by 2028. The top opportunities in the autonomous boats market segmented by component will arise in the hardware segment, which will gain $294.26 million of global annual sales by 2028. The top opportunities in the autonomous boats market segmented by fuel type will arise in the diesel fuel segment, which will gain $314.8 million of global annual sales by 2028. The top opportunities in the autonomous boats market segmented by autonomy will arise in the partial automation segment, which will gain $279.33 million of global annual sales by 2028. The autonomous boats market size will gain the most in the USA at $102.9 million.
Market-trend-based strategies for the autonomous boats market include focus artificial intelligence (AI) launch in-shore autonomous boat pilot for supply chain innovation, launch of innovative autonomous leisure boat solutions, strategic partnerships and collaborations among market players to drive innovation, development of next-generation solar-powered self-driving boats to combat ocean waste, technological advancements for efficient and sustainable operations and technological advancements for efficient and sustainable operations.
Player-adopted strategies in the autonomous boats market include focus on new product launches, focus on strategic investments to expand business operations and focus on strengthening business operations through strategic partnerships.
To take advantage of the opportunities, the analyst recommends the autonomous boats companies to focus on AI integration for autonomous boats, focus on autonomous leisure boat solutions, focus on next-generation solar-powered self-driving boats, focus on the military segment, focus on electric batteries and liquified natural gas powered boats, focus on remotely operated and fully autonomous segments, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships, provide competitively priced offerings, focus on strategic pricing strategies for market leadership, participate in trade shows and events, continue to use B2B promotions, focus on digital engagement for enhanced market visibility, prioritize technical webinars for thought leadership and target defense organizations.
The global autonomous boats market reached a value of nearly $1.2 billion in 2023, having grown at a compound annual growth rate (CAGR) of 2.90% since 2018. The market is expected to grow from $1.2 billion in 2023 to $1.7 billion in 2028 at a rate of 6.51%. The market is then expected to grow at a CAGR of 7.41% from 2028 and reach $2.4 billion in 2033.
Growth in the historic period resulted from the strong economic growth in emerging markets, the rising demand for marine cargo transportation, the increasing maritime security concerns and the growing tourism. Factors that negatively affected growth in the historic period included stringent laws and regulations.
Going forward, the increase in seaborne trade, the increasing defense expenditure, the increasing government support and the rising urbanization will drive the market. Factors that could hinder the growth of the autonomous boats market in the future include an increase in cyber-attacks.
The autonomous boats market is segmented by type into commercial and military. The commercial market was the largest segment of the autonomous boats market segmented by type, accounting for 62.64% or $763.74 million of the total in 2023. Going forward, the military segment is expected to be the fastest growing segment in the autonomous boats market segmented by type, at a CAGR of 7.04% during 2023-2028.
The autonomous boats market is segmented by component into hardware and software. The hardware market was the largest segment of the autonomous boats market segmented by component, accounting for 70.20% or $855.87 million of the total in 2023. Going forward, the software segment is expected to be the fastest growing segment in the autonomous boats market segmented by component, at a CAGR of 7.48% during 2023-2028.
The autonomous boats market is segmented by fuel type into liquefied natural gas, electric batteries, diesel fuel and other fuel types. The diesel fuel market was the largest segment of the autonomous boats market segmented by fuel type, accounting for 75.62% or $922.06 million of the total in 2023. Going forward, the electric batteries segment is expected to be the fastest growing segment in the autonomous boats market segmented by fuel type, at a CAGR of 8.46% during 2023-2028.
The autonomous boats market is segmented by autonomy into partial automation, remotely operated and fully autonomous. The partial automation market was the largest segment of the autonomous boats market segmented by autonomy, accounting for 68.88% or $839.82 million of the total in 2023. Going forward, the fully autonomous segment is expected to be the fastest growing segment in the autonomous boats market segmented by autonomy, at a CAGR of 11.24% during 2023-2028.
North America was the largest region in the autonomous boats market, accounting for 40.55% or $494.35 million of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the autonomous boats market will be the Middle East and Western Europe, where growth will be at CAGRs of 10.47% and 9.93% respectively. These will be followed by Eastern Europe and Asia-Pacific, where the markets are expected to grow at CAGRs of 7.17% and 6.08% respectively.
The global autonomous boats market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 80.25% of the total market in 2022. Rolls-Royce PLC was the largest competitor with a 17.35% share of the market, followed by L3Harris Technologies, Inc with 15.01%, ABB Ltd with 13.12%, BAE Systems Plc with 10.59%, Kongsberg Gruppen with 7.92%, General Electric Company with 6.72%, Wärtsilä Oyj Abp with 4.99%, Fugro with 2.32%, Marine Technologies LLC with 1.19% and Ulstein Group ASA with 1.05%. of the market, followed by Seiko Epson Corporation.
The top opportunities in the autonomous boats market segmented by type will arise in the commercial segment, which will gain $267.66 million of global annual sales by 2028. The top opportunities in the autonomous boats market segmented by component will arise in the hardware segment, which will gain $294.26 million of global annual sales by 2028. The top opportunities in the autonomous boats market segmented by fuel type will arise in the diesel fuel segment, which will gain $314.8 million of global annual sales by 2028. The top opportunities in the autonomous boats market segmented by autonomy will arise in the partial automation segment, which will gain $279.33 million of global annual sales by 2028. The autonomous boats market size will gain the most in the USA at $102.9 million.
Market-trend-based strategies for the autonomous boats market include focus artificial intelligence (AI) launch in-shore autonomous boat pilot for supply chain innovation, launch of innovative autonomous leisure boat solutions, strategic partnerships and collaborations among market players to drive innovation, development of next-generation solar-powered self-driving boats to combat ocean waste, technological advancements for efficient and sustainable operations and technological advancements for efficient and sustainable operations.
Player-adopted strategies in the autonomous boats market include focus on new product launches, focus on strategic investments to expand business operations and focus on strengthening business operations through strategic partnerships.
To take advantage of the opportunities, the analyst recommends the autonomous boats companies to focus on AI integration for autonomous boats, focus on autonomous leisure boat solutions, focus on next-generation solar-powered self-driving boats, focus on the military segment, focus on electric batteries and liquified natural gas powered boats, focus on remotely operated and fully autonomous segments, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships, provide competitively priced offerings, focus on strategic pricing strategies for market leadership, participate in trade shows and events, continue to use B2B promotions, focus on digital engagement for enhanced market visibility, prioritize technical webinars for thought leadership and target defense organizations.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Autonomous Boats Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global Autonomous Boats Market Segmentation
11 Autonomous Boats Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
22 Key Mergers and Acquisitions
23 Opportunities and Strategies
24 Autonomous Boats Market, Conclusions and Recommendations
25 Appendix
Executive Summary
Autonomous Boats Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global autonomous boats market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
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 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 history and forecasts market growth by geography. It places the market within the context of the wider autonomous boats market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by component, by fuel type and by autonomy.
- Key Trends - Highlights the major trends shaping the autonomous boats market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on the global and regional markets, providing strategic insights for businesses in the autonomous boats market.
- Global Market Size and Growth - Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional Analysis - Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by component, by fuel type and by autonomy in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations - This section includes recommendations for autonomous boats providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) by Type: Commercial; Military2) by Component: Hardware; Software
3) by Fuel Type: Liquefied Natural Gas; Electric Batteries; Diesel Fuel; Other Fuel Types
4) by Autonomy: Partial Automation; Remotely Operated; Fully Autonomous
Key Companies Mentioned: Rolls-Royce PLC; L3Harris Technologies, Inc; ABB Ltd; BAE Systems Plc; Kongsberg Gruppen
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; autonomous boats indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Rolls-Royce PLC
- L3Harris Technologies, Inc
- ABB Ltd
- BAE Systems Plc
- Kongsberg Gruppen
- General Electric Company
- Wärtsilä Oyj Abp
- Fugro
- Marine Technologies LLC
- Ulstein Group ASA
- Clearbot
- Cochin Shipyard Ltd
- Sea Machines Robotics India Pvt. Ltd
- Dhruva Space
- A H Wadia Boat Builders
- Oceanalpha USV
- Sealartec
- BEMAC Corporation
- Changzhou Baote Yacht Co., Ltd.
- China COSCO Shipping
- Atlas Elektronik UK
- AutoNaut Ltd
- Arksen
- U-Boat Worx
- AB Yachts
- Ferretti S.p.A.
- Groupe Beneteau
- Alva Yachts
- Fincantieri Yachts
- Timeless Yachts
- K2sea
- Autotesto
- Remontowa
- Seatech Engineering
- Vard Tulcea
- General Electric Company
- Northrop Grumman
- Huntington Ingalls Industries Inc.
- Honeywell International Inc.
- Neptec Technologies Corp.
- Sea Machines Robotics
- Flying Ship Technologies Corp.
- Open Ocean Robotics
- Twelve Marine Ventures Inc.
- d/b/a AllOY
- Metal Shark
- OPT Marine Robotics
- Platypus
- Applanix
- Green Boats Engineering
- TideWise (Brazil)
- Oceanalpha (Brazil)
- Smart Boat Brasil
- TECHNICAL SHIP S.R.L.
- TASA (Chile)
- Kongsberg Maritime
- ASV Global (Brazil)
- The Damen Group
- Southern African Shipyards
- Dormac Marine & Engineering
- Southern Engineering Co. Ltd
- West Atlantic Shipyard
- Nigerdock FZE
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 281 |
Published | May 2024 |
Forecast Period | 2023 - 2033 |
Estimated Market Value ( USD | $ 1.2 Billion |
Forecasted Market Value ( USD | $ 2.4 Billion |
Compound Annual Growth Rate | 7.0% |
Regions Covered | Global |
No. of Companies Mentioned | 63 |