Marine Industries Global Market Analysis - Marine Institute
Marine Industries Global Market Analysis - Marine Institute
Marine Industries Global Market Analysis - Marine Institute
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
MARINE INDUSTRIES GLOBAL MARKET ANALYSIS<br />
23<br />
RESEARCH & DEVELOPMENT<br />
Page 123 (€11bn in 2004, €11bn in 2009)<br />
The <strong>Marine</strong> R&D sector was valued at €11bn in 2004 with Europe’s share of<br />
the world market exceeding €3.2 billion in 2004. A number of areas make up this<br />
global value.<br />
1999–03 2004 2005–09<br />
Irish <strong>Market</strong> €M 325 62 329<br />
UK <strong>Market</strong> €M 3,252 621 3,294<br />
Europe <strong>Market</strong> €M 15,742 3,273 16,471<br />
World <strong>Market</strong> €M 50,484 10,629 54,320<br />
• We currently value shipbuilding R&D at €1.8bn – its growth mainly a function<br />
of future increases in shipbuilding revenues.<br />
• The oil & gas industry is estimated to spend €2.5bn, but in future years this<br />
increase will be a function of the technical challenges that will be faced.<br />
• Other marine industries, we believe, total €1bn.<br />
• Governments are major spenders with over 1,200 ‘research’ vessels worldwide.<br />
The US leads and the National Oceanographic and Atmospheric Administration’s<br />
(NOAA) marine budget we estimate at €2bn. Other governments probably total<br />
of the order of €3bn.The response to global warming is likely to increase this<br />
spend. (Our figures exclude the important military naval sector where the US<br />
alone accounts for $13bn and the world total could be €26bn.)<br />
Historically, activity has been fairly constant with forecast growth estimated at 1.4%<br />
annually from 2005 through to 2009.
Change language