South Korea Autonomous Ships Market Growth, Size, Trends, Demand, Revenue and Future Outlook
South Korea Autonomous Ships Market Size– By Autonomy, By Ship Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Feb-2024 | Report ID: AMIN2448 | Pages: 1 - 105 | Formats*: |
| Category : Automotive & Transportation | |||
South Korea Autonomous Ships Market Introduction and Overview
According to SPER Market Research, the South Korea Autonomous Ships Market is estimated to reach USD XX billion by 2033 with CAGR of XX%.
The report includes an in-depth analysis of the South Korea Autonomous Ships Market, including market size and trends, product mix, Types, and supplier analysis. The next generation of ships are automation ships, which do not have any crew members on board. From a shore operating centre, shore engineers will use detectors, sensors, high-definition cameras, and sophisticated satellite communication systems to monitor and manage their navigation and performance. The development of autonomous ships of the next generation has spurred the expansion of the autonomous ship sector in South Korea in recent years.
- March 2023: A joint development project agreement (JDA) has been signed by Samsung Heavy Industries Co. (SHI) and Kongsberg Maritime (KM) to construct a next-generation autonomous 174K LNG carrier that makes use of low-emission technologies and autonomous remote control.
- December 2020: Hyundai Heavy Industries formed the subsidiary Avikus. In June 2021, the company tested an autonomous cruise boat that can accommodate 12 passengers, and the following year, it will be on sale.
Market Opportunities and Challenges
Due to advancements in sensor technology, maritime connectivity, analysis and decision support software, and algorithms (artificial intelligence) for a range of on-board applications, including navigation and situational awareness, the need for autonomous and remotely controlled ships is expanding quickly. It is anticipated that the shipping sector's independence will lower emissions in the ocean and allow for significant fuel savings. It is expected that the expansion of autonomy in the commercial segment would be driven by the development of new autonomous naval boats with technological advancements and the integration of sensor systems with commercial vessels, such as freight vehicles, passenger ferries, and other platforms. Consequently, commercial operators are preparing to replace traditional ships with autonomous ships in the long run, starting with remote-controlled vessels.
Nonetheless, the market has a number of difficulties. The initial outlay for creating and deploying autonomous ship technology may be substantial. One of the biggest challenges is coming up with a clear and uniform regulatory framework for autonomous ships. For autonomous ships to function, there must be sufficient infrastructure, including port facilities, satellite coverage, and communication networks. The development and operation of autonomous vessels require the integration of sustainable and environmentally-friendly methods. It can be difficult to determine who is liable for autonomous ship accidents or malfunctions due to legal complexity. It is difficult to guarantee that marine workers, such as port operators and sailors, have received the necessary training to operate autonomous ship technology.
Market Competitive Landscape
Details per competitor are provided by the competitive landscape of the unmanned marine vehicles industry. The firm's overview, financials, revenue, market potential, R&D investment, new market initiatives, regional presence, company strengths and weaknesses, product introduction, product width and breadth, and application domination are all mentioned in the details. The aforementioned data points only pertain to the companies' efforts in the bipolar discrete semiconductor sector. Some of major players are HD Hyundai, Sinokor Merchant Marine Co., SK Shipping, Samsung Heavy Industries, Kongsberg Maritime, Wärtsilä, Rolls-Royce Holdings plc. and various others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Autonomy, By Ship Type |
| Regions covered | Busan, Ulsan, Incheon and Seoul |
| Companies Covered | HD Hyundai, Sinokor Merchant Marine Co., SK Shipping, Samsung Heavy Industries, Kongsberg Maritime, Wärtsilä, Rolls-Royce Holdings plc. And various others. |
COVID-19 Impact on South Korea Autonomous Ships Market
Amid the COVID-19 epidemic, the maritime industry confronted hitherto unheard-of obstacles on a global scale. The market's expansion was hampered by crew and staff quarantine periods, supply chain interruptions, and production stoppages. The novel coronavirus disease (COVID-19) has caused local authorities to prohibit the entry of many cargo and passenger ships into the port. Because of their prolonged stay in territorial waters, the ship owners had to pay extra, but several merchant seamen chose to stay on board. The boating market was also hit by decreases in leisure activities, cruise tourism, and fishing tourism during the epidemic. In addition, the pandemic afflicted ships, necessitating the retirement and renewal of work contracts for numerous sailors. Furthermore, the export and import of commodities and products was forbidden in order to stop the spread of new coronavirus illnesses.
Key Target Audience:
- Maritime and Shipping Companies
- Shipbuilding Manufacturers
- Government and Regulatory Bodies
- Research and Development Institutions
- Sea Logistics
- Port Authorities
- Defence and Military Organizations
- Investors and Financial Institutions
- International Maritime Organizations
Our in-depth analysis of the South Korea Autonomous Ships Market includes the following segments:
| By Autonomy: |
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| By Ship Type: |
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| By Region: |
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Key Topics Covered in the Report:
- South Korea Autonomous Ships Market Size (FY’2023-FY’2033)
- Overview of South Korea Autonomous Ships Market
- Segmentation of South Korea Autonomous Ships Market By Autonomy (Fully Autonomous, Remotely Operated, Partially Autonomous)
- Segmentation of South Korea Autonomous Ships Market By Ship Type (Military, Commercial)
- Statistical Snap of South Korea Autonomous Ships Market
- Expansion Analysis of South Korea Autonomous Ships Market
- Problems and Obstacles in South Korea Autonomous Ships Market
- Competitive Landscape in the South Korea Autonomous Ships Market
- Impact of COVID-19 and Demonetization on South Korea Autonomous Ships Market
- Details on Current Investment in South Korea Autonomous Ships Market
- Competitive Analysis of South Korea Autonomous Ships Market
- Prominent Players in the South Korea Autonomous Ships Market
- SWOT Analysis of South Korea Autonomous Ships Market
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the South Korea Autonomous Ships Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. South Korea Autonomous Ships Market Manufacturing Base Distribution, Sales Area, Type, Application6.2. Mergers & Acquisitions, Partnerships, Type Launch, and Collaboration in South Korea Autonomous Ships Market
7. South Korea Autonomous Ships Market, By Autonomy, 2019-2033 (USD Million)
7.1. South Korea Autonomous Ships Market Value Share and Forecast, By Autonomy, 2023-20337.2. Fully Autonomous7.3. Partially Autonomous7.4. Remotely Operated
8. South Korea Autonomous Ships Market, By Ship Type, 2019-2033 (USD Million)
8.1. South Korea Autonomous Ships Market Value Share and Forecast, By Ship Type, 2023-20338.2. Commercial8.3. Military
9. South Korea Autonomous Ships Market Forecast, 2019-2033 (USD Million)
9.1. South Korea Autonomous Ships Market Size and Market Share
10. South Korea Autonomous Ships Market, By Autonomy, 2019-2033 (USD Million)
10.1. South Korea Autonomous Ships Market Size and Market Share By Autonomy (2019-2026)10.2. South Korea Autonomous Ships Market Size and Market Share By Autonomy (2027-2033)
11. South Korea Autonomous Ships Market, By Ship Type, 2019-2033 (USD Million)
11.1. South Korea Autonomous Ships Market Size and Market Share By Ship Type (2019-2026)11.2. South Korea Autonomous Ships Market Size and Market Share By Ship Type (2027-2033)
12. South Korea Autonomous Ships Market, By Region, 2019-2033 (USD Million)
12.1. South Korea Autonomous Ships Market Size and Market Share By Region (2019-2026)12.2. South Korea Autonomous Ships Market Size and Market Share By Region (2027-2033)12.2.1. Busan12.2.2. Incheon12.2.3. Seoul12.2.4. Ulsan
13. Company Profile
13.1. HD Hyundai13.1.1. Company details13.1.2. Financial outlook13.1.3. Type summary13.1.4. Recent developments13.2. Kongsberg Maritime13.2.1. Company details13.2.2. Financial outlook13.2.3. Type summary13.2.4. Recent developments13.3. SK Shipping13.3.1. Company details13.3.2. Financial outlook13.3.3. Type summary13.3.4. Recent developments13.4. Samsung Heavy Industries13.4.1. Company details13.4.2. Financial outlook13.4.3. Type summary13.4.4. Recent developments13.5. Sinokor Merchant Marine Co.13.5.1. Company details13.5.2. Financial outlook13.5.3. Type summary13.5.4. Recent developments13.6. Wärtsilä13.6.1. Company details13.6.2. Financial outlook13.6.3. Type summary13.6.4. Recent developments13.7. Others
15 List of Abbreviations
16 Reference Links
17 Conclusion
18 Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
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