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Autonomous Boats Market Share

Report ID: GMI12015
Published Date: Oct 2024
Report Format: PDF

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Autonomous Boats Market Share

Wartsila Corporation, Fugro, and BAE Systems collectively held a substantial market share of over 14% in the autonomous boats industry in 2023. Wärtsilä integrates AI-driven navigation systems and smart propulsion technologies into autonomous vessels. By collaborating with maritime stakeholders, the company aims to enhance vessel efficiency and safety. Wärtsilä also invests in advanced simulation and digital twin technologies. Committed to zero-emission goals, the company offers hybrid and electric propulsion solutions to improve sustainability and operational efficiency in autonomous marine applications.

Fugro utilizes remote operations and uncrewed surface vessels (USVs) for autonomous surveying and marine data collection. By partnering with technology firms, Fugro enhances data accuracy and autonomy, expanding its reach in the offshore energy and environmental sectors. The company's strategy leverages cloud-based analytics and IoT to enable real-time data transmission and decision-making, thereby increasing efficiency in unmanned marine operations.

BAE Systems focuses on military and defense applications of autonomous boats, developing versatile platforms equipped with advanced sensors and communication technologies. By collaborating with defense agencies, BAE enhances vessel resilience and precision in challenging environments. The company also prioritizes cybersecurity for its autonomous systems, ensuring secure operations in contested maritime areas and positioning itself as a leader in autonomous defense solutions.

Autonomous Boats Market Companies

Major players operating in the autonomous boats industry are:

ABB
BAE Systems
Fugro
Garmin Ltd
Hyundai Heavy Industries
L3Harris ASV
Rolls-Royce PLC
Siemens
Textron Systems
Wartsila Corporation

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of autonomous boats reached USD 541.5 million in 2023 and is set to grow at a 9.4% CAGR from 2024 to 2032, driven by increasing emphasis on safety, cost-efficiency, and operational resilience.

The fuel-powered segment held around 54% of the market share in 2023, due to its advantages in long-range endurance, high power output, and established infrastructure, essential for extended operations in military, commercial shipping, and large-scale research missions.

Europe's autonomous boats market accounted for 35% of the revenue share in 2023 and is projected to surpass USD 450 million by 2032, driven by significant investments in maritime technology, particularly in defense, commercial shipping, and environmental monitoring.

The key players in the industry include ABB, BAE Systems, Fugro, Garmin Ltd, Hyundai Heavy Industries, L3Harris ASV, Rolls-Royce PLC, Siemens, Textron Systems, and Wartsila Corporation.