Marine Industries Global Market Analysis - Marine Institute

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114 MARINE INDUSTRIES GLOBAL MARKET ANALYSIS Figure 22.2: Marine IT – World Market The previously unavailable Mobile Packet Data Service is to open up new levels of satellite communication to smaller vessels with the introduction of its capability into the Fleet 33 service from Inmarsat. Operating in a similar way to a GPRS mobile phone, the data connection is maintained constantly, resulting in users being charged only for the amount of data sent or received rather the time spent actually on line. As in other IT sectors, there is a degree of consolidation ongoing as companies acquire other players in order to offer a range of applications. 22.2 WORLD MARKET The very wide range of applications and lack of any official information on business activity in the marine sector means that it is difficult to value the market. Source: Douglas–Westwood Table 22.1: Marine IT – World Market 1999–03 2004 2005–09 Africa 328 124 786 Asia 3,517 1,315 5,620 Australasia 129 43 224 E Europe/FSU 200 94 565 Latin America 466 140 742 Middle East 461 169 808 North America 885 304 1,396 Western Europe 3,794 1,382 5,872 TOTAL (€M) 9,780 3,570 16,012 Source: Douglas-Westwood Figure 22.3: Marine IT – Regional Segmentation 2005–2009 In order to develop a market value, we have assumed that the IT content of capital expenditure in three key areas of shipping operations (including IT additions to existing ships), newbuild ship capex, and the offshore oil & gas industry capex & opex averages 0.5% and this grows to 0.75% by 2004 and thereafter remains at this proportion. For example, in the case of a €35 million medium size tanker this would equate to an IT value of €262,000.This may at first sight appear high, but the value is intended to include capital items on the vessel such as the IT content of bridge systems, communication systems, embedded engine control & management systems, safety and automation systems, etc., right down to the software packages used in the design of the vessel. It may be argued that the IT content of other sectors could also be added, however, the values are much smaller than the three above, and that the IT content of the very large marine tourism sector is mainly shore-based conventional hotel/reservation management systems and not marine-specific. On this basis, marine IT was valued at €3.6 billion in 2004. Historically marine IT has been growing substantially from €1.3 billion in 1999.There is an overall longterm increase in IT content in the marine sector. Globally, the sector is set for long term steady growth; however after a peak in 2004, annual growth is forecast at –0.9%, although period growth 2005–2009 is 7%. Source: Douglas–Westwood
MARINE INDUSTRIES GLOBAL MARKET ANALYSIS 115 22.3 EUROPEAN MARKET Europe accounts for some 39% of the world market in 2004 (€1.4 billion), this is mainly due to the strong position in shipping, aspects of shipbuilding and the offshore oil & gas industry. As a result many of the significant players in the sector are European-based or owned. These range from providers of electronic charting systems to specialist design software. It is likely that a significant percentage of European companies’ revenues from marine IT are from export business. Forecast period growth is estimated, from €3.8 billion 1999–2003 to €5.9 billion 2005–2009. 22.4 TECHNOLOGICAL CHALLENGES The main challenges ahead probably relate to the growth of low-cost manufacturing centres in China, India and Eastern Europe.These are already used by a number of European players with the result that local manufacturing jobs are being lost to regions such as SE Asia.The growing capability of companies in these areas and availability of graduate engineers at low cost probably means that design could also move there too. 22.5 THE LONG-TERM – 2010 ONWARDS The continual need to improve efficiency of operations in all sectors of the marine industries will drive an increasing use of marine IT. Of particular significance will be the need to respond to increasing fuel costs and increases in automation, vessel tracking and security requirements and these will form the main focus for R&D. The growing availability of affordable broadband communications will greatly improve the prospects for marine IT, by lowering cost of remote access to shore-based services and the rest of the ‘wired-world’.
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Marine Industries Global Market Analysis - Marine Institute

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