Rising Demand For Safety, Security And High-Quality Service To Boost The Autonomous Train Market Growth

Autonomous Train Market Size, Share, Trends, Growth, Analysis, Research

Global Autonomous Train Market: Key Highlights

  • According to the new market research report Autonomous Train Market by Train Type (High-Speed Train, Metro Rail Transit, and Light Rail Transit) by Automation Level (GOA 1, GOA 2, GOA 3 and GOA 4), by Component (Camera, Sensors, Radio Set, Odometer, Antenna, Tachometer, and Others), by Technology (Automatic Train Control, Automatic Train Protection, Automatic Train Operation, Communications-Based Train Control, Positive Train Control, and European Rail Traffic Management System), by Application (Passenger Train and Freight Train), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2019 to 2027)”, the global autonomous train market is estimated to reach around USD 86,122 (Thousand) Units by 2027 at a CAGR of around 4.38% during the review period
  • Growing demand for safety, security, and high-quality service is a key factor to propel the demand for the autonomous train market
  • However, high initial cost remains a major restraining factor for the market growth

Autonomous Train Market

Global Autonomous Train Market: Key Market Dynamics

  • The demand for advanced technologies such as high-tech sensors and cameras, GPS, monitoring systems, navigation, and signaling systems is rising due to increased government budget for the development of the railway sector
  • Autonomous trains are built with advanced technology which helps in operating without human interference due to which reliability and safety are increased
  • Thus, growing demand for safety, security, and high-quality service is expected to drive the autonomous train market during the assessment period
  • Ongoing development of autonomous freight trains and railway infrastructure is anticipated to boost the autonomous train market in the future.
  • Technological glitches in advanced systems are likely to act as a challenge for market growth

Global Autonomous Train Market: Regional Overview

  • Asia-Pacific

The growth in the Asia-Pacific region is attributed to rising government funding for the transportation sector and the development of infrastructure. This region has witnessed ongoing upcoming projects for train advancement is likely to propel the market growth for autonomous trains. For instance, Australia invested over USD 384.08 million in public transport projects for developing 31 metro stations in Sydney and Southwest by 2024.  Prominent countries like China and Japan already have high-speed autonomous trains.

  • Europe

In Europe, the increasing investments in new rolling stock and electrification projects and the adoption of advanced technology in the railway sector have boosted autonomous train market growth. For instance, the German federal government and German Rail (DB) have planned to invest around USD 94.49 billion by 2030 in modernizing and maintaining the existing railway network.

Global Autonomous Train Market: Key Players Overview

  • Alstom:

Alstom is a France-based company that develops equipment, systems, and services of railway transportation. The Company offers signal, rolling stock, tracks, clever, motors, switchgear, bogies, traction, traction transformers, auxiliary converters, sliding doors, and others as well as repairing, maintenance, designing, and manufacturing services. In February 2020, the company acquired 100% of Bombardier Transportation for a price range of USD 6.38 billion-USD 6.81 billion. This acquisition will strengthen their ability to respond to the ever-increasing need for sustainable mobility.

  • Thales Group:

Thales Group company builds and designs aerospace and defense electrical systems. The company offers avionics equipment, navigation solutions, flight deck systems, as well as provides, signaling systems, telecommunications satellites, air traffic management, and maintenance services. In May 2018, the company acquired Danish company Cubris which is a market leader in Driver Advisory Systems (DAS) for Main Line Rail customers. This acquisition will improve Thales Group’s rail efficiency and autonomous train.

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Rep Id : AT 062

Published : 2020-02-28