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The Worldwide Autonomous Ships Industry is Estimated to Reach $14 Billion by 2030
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The autonomous ships market is estimated to be USD 5,866 million in 2020 and is projected to reach USD 14,256 million by 2030, at a CAGR of 9.3% from 2020 to 2030.
The demand for new ships and the retrofitting of existing ships with advanced technologies is expected to grow with the increase in trade activities. New defense and commercial vessels are equipped with advanced systems for improved safety and efficiency. The implementation of advanced systems acts as an important driver for the autonomous ships market. Autonomous ships are one of the variants of automated vessels. These ships involve integrating various systems and subsystems, enabling effective decision-making based on sensor fusion technology and Artificial Intelligence (AI) for processing the data, hence reducing or eliminating human intervent