OceanTech Expo (OTE) 2010 opened the morning of Tuesday, May 25, 2010 in Newport, Rhode Island, with John Westwood, chairman of Douglas-Westwood delivering a powerful keynote speech detailing the tremendous opportunities, and challenges, surrounding the rapidly expanding ocean business. “We are entering a period of great changes and challenges.”
London-based Douglas-Westwood is one of the world’s leading authorities in the research, analysis and forecasting in more than 25 different marine sectors, including offshore oil and gas, ocean observation and the subsea vehicles market.
“At the end of the day, the U.S. is the largest ocean industry market,” Westwood said.
Westwood’s 45 minutes presentation kept the attention of the OTE delegation, as he addressed the wide swath of businesses and opportunities found in the ocean, both above and underneath the waves. Regarding the burgeoning offshore wind market, he noted that “the potential is huge, but costs are soaring.” According to a recent report from the group, between 2017 and 2030, there will be an estimated installation of approximately 500 offshore wind turbines per year, growing to more than 900 units per annum.
Turning his attention to the Autonomous Underwater Vehicle market, Douglas-Westwood projects the AUV business to be a $2.3b market comprising nearly 1,200 new vehicles over the next decade, but he noted “There is a very large upside potential to this (number).”
Westwood’s presentation can be found starting Wednesday, May 26, on the company’s website at: http://www.dw-1.com/.
Come out to OTE 2010
OTE 2010 is in full swing in scenic Newport, Rhode Island, an event which combines traditional exhibition with topical “Industry Outlook Session” conferences and live, in-water technology demonstrations off the docks of the Newport Yachting Center. A fleet of 6 research vessels are docked right alongside the booths, demonstrating established and emerging technologies that are designed to help those engaged in subsea science, commerce and defense work more efficiently and safely.