INTEGRATED MARINE AUTOMATION SYSTEM MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 Cruise ships are the type of passenger ships that come under commercial segments and with an increasing number of tourism activities and increase in disposable income for people, firms are highly investing in cruise ships and various automation firms provide their products for navigation support, equipment monitoring and safety improvements to shipbuilding companies. For instance, in 2017, ABB supplied the complete power, propulsion, and automation package for a series of new cruise vessels being built by MV WERFTEN for Genting Hong Kong brands Crystal Cruises and Star Cruises.

Various cruise ship lines business that operates a fleet of small luxury cruise ships are opening to automation. For instance, in Sep 2019, Windstar Cruises announced to re-engine its Star-class vessels which will involve new automation and control systems, tank monitoring systems, upgraded boilers, and ballast water treatment systems. This will be sourced by Fincantieri who provides ship automation and navigation systems for Naval vessels, Cruise ships, Ferries and Yachts.

    The integrated marine automation system market is projected to grow at a CAGR of 2.5% during the forecast period (2021 - 2026). The adoption of new technological capabilities such as AI and machine learning augmented with different software use, to support the solutions offered in this market has been a new trend. For instance, Marine image annotation software (MIAS) is used to assist the annotation of underwater imagery. Integration into accessible MIAS is currently limited to semi-automated processes of pixel recognition through computer vision modules. The development in this field will be a new trend towards the integration of AI in automation in information management under the vessel management segment.

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