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

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.
South Korea Autonomous Ships Market
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.

South Korea Autonomous Ships Market


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 coveredBy 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:
  • Fully Autonomous
  • Partially Autonomous
  • Remotely Operated
  • By Ship Type:
  • Commercial
  • Military
  • By Region:
  • Busan
  • Incheon
  • Seoul
  • Ulsan
  • 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 report
    1.2. Market segment analysis

    2. Research Methodology
    2.1. Research data source
    2.1.1. Secondary Data
    2.1.2. Primary Data
    2.1.3. SPER’s internal database
    2.1.4. Premium insight from KOL’s
    2.2. Market size estimation
    2.2.1. Top-down and Bottom-up approach
    2.3. Data triangulation

    3. Executive Summary

    4. Market Dynamics
    4.1. Driver, Restraint, Opportunity and Challenges analysis
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunities
    4.1.4. Challenges
    4.2. COVID-19 Impacts of the South Korea Autonomous Ships Market 

    5. Market variable and outlook
    5.1. SWOT Analysis
    5.1.1. Strengths
    5.1.2. Weaknesses
    5.1.3. Opportunities
    5.1.4. Threats
    5.2. PESTEL Analysis
    5.2.1. Political Landscape
    5.2.2. Economic Landscape
    5.2.3. Social Landscape
    5.2.4. Technological Landscape
    5.2.5. Environmental Landscape
    5.2.6. Legal Landscape
    5.3. PORTER’s Five Forces 
    5.3.1. Bargaining power of suppliers
    5.3.2. Bargaining power of buyers
    5.3.3. Threat of Substitute
    5.3.4. Threat of new entrant
    5.3.5. Competitive rivalry
    5.4. Heat Map Analysis

    6. Competitive Landscape
    6.1. South Korea Autonomous Ships Market Manufacturing Base Distribution, Sales Area, Type, Application
    6.2. 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, 2023-2033
    7.2. Fully Autonomous
    7.3. Partially Autonomous
    7.4. 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, 2023-2033
    8.2. Commercial
    8.3. 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. Busan
    12.2.2. Incheon
    12.2.3. Seoul
    12.2.4. Ulsan

    13. Company Profile
    13.1. HD Hyundai
    13.1.1. Company details
    13.1.2. Financial outlook
    13.1.3. Type summary 
    13.1.4. Recent developments
    13.2. Kongsberg Maritime
    13.2.1. Company details
    13.2.2. Financial outlook
    13.2.3. Type summary 
    13.2.4. Recent developments
    13.3. SK Shipping
    13.3.1. Company details
    13.3.2. Financial outlook
    13.3.3. Type summary 
    13.3.4. Recent developments
    13.4. Samsung Heavy Industries
    13.4.1. Company details
    13.4.2. Financial outlook
    13.4.3. Type summary 
    13.4.4. Recent developments
    13.5. Sinokor Merchant Marine Co.
    13.5.1. Company details
    13.5.2. Financial outlook
    13.5.3. Type summary 
    13.5.4. Recent developments
    13.6. Wärtsilä
    13.6.1. Company details
    13.6.2. Financial outlook
    13.6.3. Type summary 
    13.6.4. Recent developments
    13.7. 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.

    SPER-Methodology-1

    SPER-Methodology-2

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