Maritime Autonomous Surface Ships Market Revenue Analysis & Region and Country Forecast To 2030

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Rising expenditure to incorporate autonomous navigation technology in vessels is driving MASS market revenue growth

VANCOUVER, BC, UNITED STATES, August 29, 2022 /EINPresswire.com/ — The report studies the historical data of the Maritime Autonomous Surface Ships Market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the Maritime Autonomous Surface Ships Market based on the recent technological and research advancements.

The global Maritime Autonomous Surface Ships (MASS) market size is expected to reach USD 14.08 Billion in 2030 and register a revenue CAGR of 9.3% over the forecast period, according to the latest analysis by Emergen Research. Rising adoption of autonomous ships to minimize accidents and incidents as a result of human error and increasing human safety are driving global MASS market revenue growth. Reduced operational costs, reduced number of onboard crew members, and lower cost of deploying crew on shore, reduced use of air conditioning and need for mass crew safety equipment are key factors driving market growth. Moreover, minimization of human errors is another advantage of MASS, and use of this system can lower potential number of accidents as well as reduce financial losses. Autonomous ships, which are low-manned or unmanned, reduce people’s exposure to risk at sea.

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Regional Analysis:

The report sheds light on the region expected to dominate the Maritime Autonomous Surface Ships market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Maritime Autonomous Surface Ships market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.

Market Drivers:

The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.

Major players in the market report include Rolls-Royce PLC, General Electric, Kongsberg Gruppen, Mitsui Group, NYK Line, Honeywell International Inc, Samsung Group, Korean Shipbuilding & Offshore Engineering (KSOE) Co. Ltd., Praxis Automation Technology B.V., and Det Norske Veritas Holding AS.

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Emergen Research has segmented the global MASS market on the basis of autonomy, ship type, end-use, propulsion, and region:

Autonomy Outlook (Revenue, USD Billion; 2018–2030)

Fully Autonomous

Partial Autonomous

Remote Operations

Ship Type Outlook (Revenue, USD Billion; 2018–2030)

Commercial

Defense

End-use Outlook (Revenue, USD Billion; 2018–2030)

Line fit

Retro fit

Propulsion Outlook (Revenue, USD Billion; 2018–2030)

Fully Electric

Hybrid

Conventional

Key Highlights from the Report
In October 2020, Kongsberg Gruppen, which is an international supplier of high technology systems, signed a deal with China Merchants Group. This contract specified that Kongsberg would supply maneuvering and propulsion systems for construction of two RoPax, which are two roll-on and roll-off (ro-ro) vessels. These vessels are under construction for Finnlines Plc. This contract is worth USD 13.6 million. Kongsberg Gruppen would install systems on RoPax vessels.

Defense segment revenue is expected to register significantly rapid growth rate during the forecast period owing to increasing defense spending on security and surveillance. Autonomous ships are incorporated with tools and systems, such as radar, sensors, Automatic Identification System (AIS), and Global Positioning System (GPS).

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Maritime Autonomous Surface Ships Market Size Worth USD 14.08 Billion in 2030