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The collision avoidance and object detection maritime market is projected to reach US$ 450.61 million in 2022; it is expected to grow at a CAGR of 8.2% during 2022-2028.
The rising number of ships, cruises, and yachts is boosting the growth of the collision avoidance and object detection maritime market. Autonomous navigation technologies, including path planning, guidance and control, obstacle detection, and mapping, play an essential role in the safety of unmanned surface vehicles (USVs). The automatic detection of surrounding objects and estimation of their motion are key aspects in the marine industry, and since such systems operate in harsh environmental conditions, reliable and robust performance is necessitated. Information on surrounding vessels can be obtained using navigational aid systems enabled with the LiDAR and SONAR technologies, among others. The International Regulations for Preventing Collisions at Sea (COLREGs) adopted by the International Maritime Organization (IMO) control the design and operation of collision avoidance systems. The use of cameras and LiDAR sensors for the target motion analysis of close‐range obstacles in marine environments is growing rapidly with advancements in optical sensor technology. Further, developments in AI and deep learning are expected to offer lucrative growth opportunities for the collision avoidance and object detection maritime market size during the forecast period.
A rise in the demand for expedition cruises for exhilarating adventures, and cultural and wildlife-spotting outings in watersport activities is a key trend bolstering the demand for safety features in water vehicles, which is triggering the collision avoidance and object detection maritime market size. The increase in disposable income and rising trend for adopting luxurious lifestyle are the key factors promoting the demand for expedition cruises.
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Collision Avoidance and Object Detection Maritime Market: Strategic Insights
Market Size Value in US$ 450.61 Million in 2022 Market Size Value by US$ 722.09 Million by 2028 Growth rate CAGR of 8.2% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Collision Avoidance and Object Detection Maritime Market: Strategic Insights
| Market Size Value in | US$ 450.61 Million in 2022 |
| Market Size Value by | US$ 722.09 Million by 2028 |
| Growth rate | CAGR of 8.2% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Impact of COVID-19 Pandemic on Collision Avoidance and Object Detection Maritime Market Growth
In 2020, many electronics and semiconductor manufacturers in the US operated with a limited workforce or temporarily stopped their production due to strict government regulations. This adversely affected the supply chain and the import & export of semiconductor chips and electronic products. Supply chains of collision avoidance and object detection solutions include equipment such as LiDAR systems, cameras, imaging systems, and radar systems. Containers on the west coast of North America were stuck on ships in 2020. Although the containers were finally delivered and emptied later in that year, their return to China was hindered by a slowdown in marine transport across the intermodal network. Owing to such disruptions, semiconductor manufacturers were unable to meet their delivery timelines, which also led to the decreased production of collision avoidance and object detection solutions.
Lucrative Regions for Collision Avoidance and Object Detection Maritime Market
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Market Insights – Collision Avoidance and Object Detection Maritime Market
The autonomous systems use sensor data for object detection, obstacle avoidance, mapping, localization, and other tasks. Autonomous navigation systems are also used for sensor fusion and testing for high-performance applications using multi-sensor systems, including global navigation satellite system, inertial sensors, odometers, magnetometers, radars, LiDAR, cameras, barometers, maps, infrared, and ultrasound sensors. Also, the rise in adoption of autonomous ship navigation for commercialization purpose is further bolstering the collision avoidance and object detection maritime market growth. With the advancement of optical sensor technology, the use of cameras and lidar sensors for target motion analysis of close‐range obstacles in marine environments is growing rapidly. Furthermore, the increasing integration of AI and deep learning is expected to offer lucrative growth opportunities for the collision avoidance and object detection maritime market over the forecast period.
End User-Based Insights
On the basis of end user, the collision avoidance and object detection maritime market is categorized unmanned surface vehicles, ships, autonomous underwater vehicles, and others. The ships segment accounted for the largest share of the market in 2021. This segment includes all those types of vessels that are not USVs or AUVs. The autonomous underwater vehicles segment is expected to register the fastest CAGR during the forecast period. Unmanned surface vehicles are used for a wide range of military and commercial applications. The Automatic Identification System (AIS), an object detection system network, makes it possible to collect a large volume of maritime traffic data and evaluate the collision avoidance ability of real-world ships.
The collision avoidance and object detection maritime market is analyzed on the basis of technology, application and end user. Based on technology, the market is segmented into LiDAR, computer vision, radar, and others. Based on application, the market is segmented into blind spot detection, night vision, and others. Based on end user, the market is segmented into unmanned surface vehicles, ships, and autonomous underwater vehicles.
Benewake (Beijing) Co., Ltd.; Furono Electric Co., Ltd.; Garmin Ltd.; Orlaco Products BV; Raytheon Anschutz GmbH; Robopec SAS; Sea Machines Robotics, Inc.; Teledyne FLIR LLC; Terma A/S; and Velodyne Lidar, Inc. are key collision avoidance and object detection maritime market players.
Collision avoidance and object detection maritime market players are utilizing several strategies to focus on growth.
- In September 2022, Benewake launched the LIDAR device named TF-LC02. It is offered for the cost of US$ 9.9 and is ideal for various applications due to small size, high performance and accuracy, and low error. The TF-LCO2 is a LiDAR distance module with a built-in time-to-digital converter (TDC) circuit and a high-precision ToF sensor. It can be used to make various electronic devices, including floor sweepers, robots, unmanned aerial vehicles, and smart home products.
- In December 2020, NYK Group companies MTI Co., Ltd. and Japan Marine Science Inc. (JMS) conducted the demonstration of collision avoidance navigation using artificial intelligence (AI) in Osaka Bay as part of a research program to develop navigation support for domestic vessels by using AI as a core technology.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology, Application, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The estimated market size for the collision avoidance and object detection maritime market is US$ 450.61 million in 2022.
Rising number of ships & boats and increasing research on autonomous navigation systems are the key factors driving the collision avoidance and object detection maritime market over the forecast period.
Rapid development of AI and ML enabled navigation systems and rising popularity of expedition cruises are the key trending factors driving the market growth.
The key companies operating in the collision avoidance and object detection maritime market that are profiled in the report Raytheon Anschutz GmbH; Teledyne FLIR LLC; Furono Electric Co., Ltd.; Garmin Ltd.; and Terma A/S.
Asia Pacific region is the fastest growing regional collision avoidance and object detection maritime market.
China, South Korea, and UK are the prominent countries which are expected to register high growth rates, during the forecast period.
The List of Companies - Collision Avoidance and Object Detection Maritime Market
- Benewake (Beijing) Co Ltd
- Orlaco Products BV
- Raytheon Anschutz GmbH
- Garmin Ltd
- Sea Machines Robotics Inc
- Robopec SAS
- Velodyne Lidar Inc
- Terma A/S
- Teledyne FLIR LLC
- Furuno Electric Co Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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