Survey: S&T Big UK Economy Contributor

Tuesday, October 18, 2011

The Society of Maritime Industries has conducted a third survey focused on UK companies operating primarily in Marine Science and Technology (MST) activities. The survey was conducted at Ocean Business 2011, a trade show held in Southampton during April 2011, hosting over 300 companies representing the world’s leading ocean technology suppliers and service providers. 
As with earlier studies, this report aims to provide an insight into current business activity in terms of market sectors, market size and business confidence both current and forecast.  This 2011 report has the additional benefit of data comparison with the previous years, allowing identification of possible trends in marine science and technology business.
The estimated market size for the UK based MST business sector is over £1.1 billion, a marked increase on previous years, pointing towards a positive outlook for the future of the MST sector.
• Even with the increase in the number of companies interviewed, companies reported a substantial increase in employment with an overall increase of 63% which is reflected in the turnover increase of 76% in the past 12 months.
• Important market sectors for business are offshore oil and gas, renewable energy, defence and environmental monitoring.
• Europe remains a significant region for UK export in marine technology with the Middle East and Asia/Pacific emerging as strong growth areas.
• Business outlook is highly positive with 65% of companies experiencing growth in the past 12 months and over 70% of companies predicting growth over the next 12 months.
• The recession has had a lower negative effect on companies in the MST sector when compared with last year.  However, it still remains as having the most significant impact for 60% of companies.
• The MST sector is set for considerable growth with over 90% of the companies surveyed predicting an increase in the market for their products and services over the next 12 months.
The 2011 Annual Review of the UK Marine Scientific Industries can be found at www.maritimeindustries.org/about/amsi
 

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Tugboat Capsizes Near 106th Bridge, Chicago

The Coast Guard informs it is responding to the capsize of a tug on the Calumet River near the 106th St. Bridge in Chicago, in which the two crew members were able

Oceanteam Focuses on Mexico Strategy

Oceanteam Shipping ASA releases its Q2 2014 financial report, with extracts as follows: The company says it saw, with its early focus on Mexico, a long term

HAL & Kelly Clark in ‘Attorneys Who Matter’ List Again

The Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices, recognized Holland America Line and Seabourn’s

Technology

Wärtsilä Signs Harvey Gulf OSV Maintenance Agreement

Wärtsilä says it has signed a long-term Technical Management Agreement with Harvey Gulf International Marine LLC (Harvey Gulf). This five-year agreement covers

ARENA Supporting Bright Ideas in Solar R&D

The Australian Government today announced $21.5 million funding for 12 cutting edge R&D projects that will keep Australia at the forefront of solar research.

WR Nominated for International Seatrade Insider Cruise Award

WR Systems has been shortlisted for the Environmental Initiative Award. Judged by an independent panel of experienced cruise industry specialists, the Seatrade

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1321 sec (8 req/sec)