Marine Industries Global Market Analysis - Marine Institute

22 MARINE INDUSTRIES GLOBAL MARKET ANALYSIS
The long-term potential of the sector is very large, arguably greater than conventional
(non-marine) biotechnology activity which in 2002 generated $35.8 billion of
revenues. Annual average growth 2005–2009 is estimated at 3.8%, with a total growth
rate of 24% over the forecast period.
“One of the most exciting emerging technology sectors.” 10
3.8 EDUCATION AND RESEARCH
1999–03 2004 2005–09
Irish Market €M – – –
UK Market €M – – –
Europe Market €M – – –
World Market €M 10,041 1,537 7,691
EDUCATION & TRAINING
Page 121 (>€1.5bn in 2004, €1.6bn in 2009)
Worth €1.5bn in 2004, the sector has three primary activities: seafarer training,
offshore workers and higher education. As training may be provided in one country
to meet demand from other countries, it is not feasible to segment the ‘market’ by
countries or regions.
• Seafarer training – 400,000 officers and 825,000 ratings are employed worldwide
with 60% of the latter being from the Asia Pacific region. 418 ‘maritime schools’ are
listed worldwide and there has been a 27% oversupply of ratings recently (mainly
Philippinos). At the same time there is a 4% undersupply of officers which is
expected to rise to 12% by 2010. Seafarer training costs range from $5–20K,
officers $40K and we estimate that during the period 2005–9 the number of
people requiring training will be 177,000.
• Offshore workers undergo safety training on a four year cycle.With an estimated
80,000 workers worldwide, some 20,000 are trained per annum.
• Higher education establishments offering marine courses total at least 241
worldwide. However, it is difficult to estimate the associated expenditure in this area.
All education and training has a role in ‘marketing’ the supplier country and its
technology to foreign students. (The new National Maritime College of Ireland,
located in Cork, offers a wide range of courses geared specifically towards the
commercial shipping sector and the navy.)
Due in part to a recent over-supply of seafarers being trained, historic levels of
activity have declined slightly to 2004.This is due to be followed by a slight upturn
with other areas within the sector seeing growth, resulting in annual average growth
of 1.5% over the period 2005–2009.
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Report to the UK Foresight Marine Panel, January 05.