Increased Globalization and Favorable Government Policies Drive Innovation and Reduce Emissions Propelling the Growth of the Maritime Autonomous Surface Ships Market in the APAC Region!
- Himanshu Patni
- August 12, 2023
- AUTOMOTIVE, NEWS
- Maritime Autonomous Surface Ships Market, Maritime Autonomous Surface Ships Market growth, Maritime Autonomous Surface Ships Market share, Maritime Autonomous Surface Ships Market size, Maritime Autonomous Surface Ships Market Trends
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The Asia Pacific region is expected to dominate in the forecast period. The major factors attributed to the growth of the region are the increasing volume of marine transportation due to globalization, and the growing shipbuilding industry in the region. Countries such as China, India, and South Korea are developing new ports with enhanced facilities and infrastructure fueling the growth of the maritime autonomous surface ships market. For instance, in 2021, the Chinese government announced the 14th five-year plan for port development. As the 14th five-year plan for port development Yangpu port in Hainan Island will be developed into an international container hub port in the southernmost part of China. Moreover, the latest five-year plan (2021-2025) will focus on expanding Yangpu’s Xiaochantan Wharf and building another container terminal in the Macun area of Hainan’s Haikou port. Additionally, the APC region remained the world’s leading maritime cargo handling center in 2021, accounting for 42% of exports and 64% of imports, and Asian container exporters were among the top five, accounting for almost half the traffic, and included China, Viet Nam, the Republic of Korea and Japan.
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The paradigm shift in the technology and the major technology providers lies in the region, and with the collaboration, the companies are sharing their technology to develop more efficient and reliable ships. By implementing robotics technology such as warehouse automation technology, and highly coordinating it with ports and warehouses, the integrator’s role is expected to expand to advanced-level integration of maritime transportation. Therefore, with the increase in globalization, and advances in technology the APAC region is expected to see robust growth in the forecast period.
Further, the APAC Maritime Autonomous Surface Ships Market is expected to grow at a strong CAGR of approximately 11% during the forecast period (2022-2030). APAC is anticipated to emerge as the fastest-growing maritime autonomous surface ships market primarily owing to the increase in globalization, and the rising concerns for high-level of safety and efficiency for shipping. Meanwhile, China constitutes to be the largest market in the APAC region, accredited to rising expenditure on the development of new ports, and enhancing infrastructure with a large customer base.
Based on autonomy, semi-autonomous, fully autonomous, and remote operations. The remote operations segment becomes the focal point in the maritime autonomous surface ships market in the forecast period as ships are equipped with advanced security systems. Moreover, remote operations have a plentiful advantage as they eliminate human error, increase the safety for life, reduce crewing costs, and allow the operation of more than one crew member at the same time. Additionally, it also allows more efficient use of space in ship design and efficient use of fuel. A three-year research project by MUNIN (Maritime Unmanned Navigation through Intelligence in Networks) has shown that these ships can lead to significant cost savings over the long term. According to the project, autonomous vessels can reduce fuel consumption and crew supplies, and salaries by over USD7 million over 25 years. This is a significant saving, and it’s no wonder that so many ship operators are interested in exploring the possibilities of autonomous ships, especially in remote operations.
Based on propulsion type, the market is segmented into conventional, hybrid, and fully electric. The fully-electric segment is expected to dominate in the forecast period as there is reluctance in fossil fuels and surface ships are weighted and long as more than 300 meters, consume a lot of fuels. Moreover, the electric engine does not require any additional time to warm up the engine and it can be charged at the same by solar panels as well as wind generators. Additionally, the development of more sophisticated and reliable batteries has forced manufacturers to shift to electric autonomous ships, with the advancement of technology these batteries have increased storage capacity, power output, and durability have made it possible to power entire ships, and the recharging time is also decreased. Moreover, electric autonomous ships also use regenerative braking, which uses energy from the ship’s motion and converts it into electrical energy, further providing support to the ships and increasing efficiency.
For a detailed analysis of the Global Maritime Autonomous Surface Ships Market browse through – https://univdatos.com/report/maritime-autonomous-surface-ships-market/
Global Maritime Autonomous Surface Ships Market Segmentation
Market Insight, by Autonomy
· Remote Operation
Market Insights, by Propulsion Type
· Fully Electrical
Market Insights, by Application
Market Insight, by Region
· North America
o Rest of North America
o Rest of Europe
o South Korea
o Rest of APAC
· Rest of the World
Top Company Profiles
· Rolls Royce PLC
· Mitsui & Co., Ltd.
· Honeywell International Inc.
· General Electric
· Kongsberg Gruppen
· NYK Line
· L3Harris Technologies, Inc.
· Yara International ASA
· Samsung Heavy Industries