Autonomous Train Technology Market Definition And Segments
Autonomous train technology refers to the use of advanced systems, sensors, and algorithms to enable trains to operate without direct human intervention. This technology offers several potential benefits, including improved safety, increased operational efficiency, reduced energy consumption, and an enhanced passenger experience and reliability in railway operations.
The main types of autonomous train technology components are cameras, accelerometers, odometers, tachometers, radio sets, and others. A camera refers to an optical instrument used to capture still images or record videos by recording light onto a photosensitive surface. It is classified into various types of grades of automation, such as grade of automation 1 (GOA 1), grade of automation 2 (GOA 2), grade of automation 3 (GOA 3), and grade of automation 4 (GOA 4), and includes several technologies, including communication-based train control (CBTC), European railway traffic management system (ERTMS), automatic train control (ATC), and positive train control (PTC). It is used in various applications, including passenger trains and freight trains.
The autonomous train technology market covered in this report is segmented –
1) By Component: Camera, Accelerometer, Odometer, Tachometer, Radio Set, Other Components
2) By Grade Of Automation: Grade Of Automation 1 (GOA 1), Grade Of Automation 2 (GOA 2), Grade Of Automation 3 (GOA 3), Grade Of Automation 4 (GOA 4)
3) By Technology: Communication Based Train Control (CBTC), European Railway Traffic Management System (ERTMS), Automatic Train Control (ATC), Positive Train Control (PTC)
4) By Application: Passenger Train, Freight Train
The autonomous train technology market size has grown strongly in recent years. It will grow from $4.15 billion in 2023 to $4.37 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to increasing demand for efficient and safe transportation solutions, government initiatives to modernize railway infrastructure, rising concerns over environmental sustainability, need for optimized rail network management.
The autonomous train technology market size is expected to see strong growth in the next few years. It will grow to $5.42 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to expansion of urban rail networks, growing urbanization, safety enhancement, capacity expansion, improved passenger experience. Major trends in the forecast period include advancements in sensor technology, pilot projects and demonstrations, public-private partnerships, expansion of automated train control systems.
Railway Expenditure Boosting Growth In The Autonomous Train Technology Market
The increase in expenditure on railways is expected to fuel the growth of the autonomous train technology market going forward. Expenditure on railways refers to the amount of money spent by governments or private entities on various aspects of railway infrastructure, operations, and development. These railway expenditures arise because of increasing demand for public transportation, improved operational efficiency and competitiveness, and meeting the growing demands of modern transportation. Railway expenditure utilizes autonomous train technology to enhance infrastructure, integrate autonomous systems, and promote growth, which will consequently improve efficiency, safety, and sustainability in rail transportation systems. For instance, in November 2021, according to a report published by the Office of Rail and Road, a UK-based government department, total expenditure on railways amounted to $28.35 (£21.0 billion) in 2021, representing a 3.8% rise compared to the previous year. Therefore, an increase in expenditure on railways is driving the growth of the autonomous train technology market.
Major companies operating in the autonomous train technology market are China Railway Corporation, Hitachi Ltd., Siemens AG, Deutsche Bahn AG, General Electric Company, Mitsubishi Electric Corporation, ABB Group, Toshiba Corporation, Thales Group, Alstom SA, CSX Transportation, Kawasaki Heavy Industries, Japan Railways Group, WSP Global Inc., Huawei Technologies Co. Ltd., Wabtec Corporation, Tech Mahindra Ltd., MTR Corporation, Stadler Rail, CAF Signalling S.A.U., Hyundai Rotem, Itron Inc., PT Kereta Api Indonesia (Persero), Kyosan Electric Manufacturing Ltd., Mermec Corporation
Adoption Of Aeva's 4D LiDAR Technology Revolutionizing Autonomous Train Operations
Major companies operating in the autonomous train technology market are focusing on the adoption of innovative technological solutions, such as Aeva's 4D LiDAR technology, to maintain a competitive edge and ensure regulatory compliance in automatic train operation solutions. 4D LiDar technology revolutionizes autonomous systems by providing advanced perception capabilities that enhance safety, efficiency, and reliability in various industries. For instance, in August 2023, Railergy, a Germany-based top-tier provider of railway automation solutions, adopted Aeva's 4D LiDAR technology to power autonomous train technology and enhance safety in their automatic train operation solution. This innovative technology enables the automation of trains for various applications, including shunting, main line, and last-mile operations in areas like seaports, freight, and mining. Additionally, this technology provides instant velocity data and high-resolution sensing capabilities, allowing for the real-time detection of obstacles and ensuring safe autonomous locomotive passage.
Alstom Strengthens Operational And Financial Standing With Bombardier Acquisition
In January 2021, Alstom SA, a France-based manufacturing company, acquired Bombardier Inc. for $7.02 billion. Through this acquisition, Alstom aims to leverage the complementary strengths of both companies to drive innovation in smart and sustainable mobility solutions. Additionally, it enables it to strengthen its leadership in the sustainable mobility market by achieving critical size in all geographies. Bombardier Inc. is a Canada-based provider of autonomous railway technologies, including driver assistance safety systems, alternative propulsion, and predictive maintenance.
Asia-Pacific was the largest region in the autonomous train technology market in 2023. It is expected to be the fastest-growing region in the forecast period. The regions covered in the autonomous train technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the autonomous train technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The autonomous train technology market consists of revenues earned by entities by providing services such as autonomous operation, route optimization, automated maintenance, remote monitoring and control, predictive maintenance, communication, and connectivity. The market value includes the value of related goods sold by the service provider or included within the service offering. The autonomous train technology market also includes the sale of sensors, control systems, communication systems, onboard computers, navigation systems, actuators, and redundant and fail-safe systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The autonomous train technology market research report is one of a series of new reports from The Business Research Company that provides autonomous train technology market statistics, including autonomous train technology industry global market size, regional shares, competitors with an autonomous train technology market share, detailed autonomous train technology market segments, market trends and opportunities, and any further data you may need to thrive in the autonomous train technology industry. This autonomous train technology market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.