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Opportunities Abound For UK Maritime Industry

by Jason Gorringe, Tax-News.com, London

26 November 2015


The UK maritime sector is well-placed to exploit market opportunities globally, in particular in the areas of marine systems integration, autonomous vessels, and superyacht manufacture, according to research prepared for the UK Marine Industries Alliance.

The Alliance has unveiled a new roadmap that highlights global trends and opportunities for UK marine and maritime businesses, with support from the Department for Business, Information, and Skills (BIS) and the Knowledge Transfer Network.

Nearly 80 organizations contributed to the report, representing businesses building, repairing, or refitting vessels or those supplying marine equipment and services for the commercial, leisure, naval, and marine science sectors.

The UK marine industry is estimated to generate GBP8.1bn of gross value added, including approximately GBP3.3bn of direct revenue. It supports 175,000 workers, including 74,000 directly employed within the industry.

John Murray, the Chief Executive of the Society of Marine Industries, said: "The 2015 Marine Industries Technology Roadmap underpins the common vision and strategy of both industry and government working together to develop export-led growth. It provides a picture of where the global market is going, the trends, and drivers affecting the market, as well as highlighting the technologies the industry needs to develop. Knowledge of this will ensure the UK marine industry continues to be globally competitive."

The report recommends investment in five areas of technical capability:

  • Design and manufacturing techniques;
  • Electronics, sensors, communications and control, data management, and big data analytics;
  • Energy efficiency and environmental protection;
  • Structures and materials; and
  • Autonomous systems.

TAGS: environment | Energy | investment | business | marine | manufacturing | services

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