Europe Collision Avoidance and Object Detection Maritime Market

The collision avoidance and object detection maritime  market in Europe is expected to grow from US$ 133.80 million in 2022 to US$ 216.63 million by 2028. It is estimated to grow at a CAGR of 8.4% from 2022 to 2028. 

Increasing Research on Autonomous Navigation Systems

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 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 creating the demand for market growth. The system uses artificial intelligence to examine the surrounding environment, including weather and wave heights, to control the vessel’s steering commands and speed. Thus, the increase in development of technologies for increasing the safety in maritime industry is propelling the market growth. The increase in research studies and evolution of advanced technologies in navigation systems is further aiding the market growth over the forecast period. The usage of machine learning algorithms and automatic communication modules that are capable of developing and agreeing on maneuvers between autonomous vessels is accelerating the demand for collision avoidance system in the maritime industry. The growth prospects in research for autonomous navigation systems is expected to likely drive the market growth over the forecast period. The giant technology players such as Furuno Electric Co., Ltd. have significantly focused towards digital transformation in navigations systems such as AR navigation system using augmented reality technology, risk visualizer using advanced algorithm and analyzed numerous data samples, camera image recognition system using artificial intelligence technology and among other featured technologies. Thus, such developments in technology and ongoing research studies for introduction of advanced navigation system is driving the demand for collision avoidance and object detection systems in the marine industry which is driving the market growth over the projected period.

Market Overview

Europe boasts a prominent maritime industry due to the strong presence of industrial manufacturing and robust international trade activities from many countries throughout the year. The region's strong economic status and technologically well-equipped infrastructure to handle large cargo fleets have significantly contributed to the rising adoption of collision avoidance and object detection systems in recent years. Presently, the shipping industries in the UK, France, Russia, Germany, and Italy are characterized by a large number of commercial and defense vessels, which form a significant share of the marine traffic in the region.

Europe Collision Avoidance and Object Detection Maritime Market  Revenue and Forecast to 2028 (US$ Million)

Europe Collision Avoidance and Object Detection Maritime Market Segmentation

The Europe collision avoidance and object detection maritime market is segmented into by technology, application, end user, and country. 

• Based on technology, the market is segmented into LiDAR, computer vision, radar, and others. The radar segment held the largest market share in 2022.
• Based on application, the market is segmented into blind spot detection, night vision, and others. The others segment held the largest market share in 2022.
• Based on end user, the market is segmented into unmanned surface vehicle, ships, and autonomous underwater vehicle (AUV). The ships segment dominated the market share in 2022.
• Based on country, the market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Germany segment dominated the market share in 2022.

Benewake (Beijing) Co Ltd; Orlaco Products BV; Raytheon Anschutz GmbH; Garmin Ltd; Sea Machines Robotics Inc.; Robopec SAS; Velodyne Lidar Inc.; Terma AS; Teledyne FLIR LLC; and Furuno Electric Co Ltd are the leading companies operating in the collision avoidance and object detection maritime market in the region.