Ocean Enterprise sector expands by 60% in five years, finds NOAA report

LinkedIn +

A new report released by the US National Oceanic and Atmospheric Administration (NOAA) has found a 60% increase in the number of businesses that provide the technological means to observe and measure ocean dynamics.

According to the report, Ocean Enterprise businesses grew from 500 in 2015 to around 800 in 2020. This cluster of businesses provides essential support to the US$2tn global Blue Economy and generated revenues of US$8bn by delivering essential information services to support the sustainable use of ocean resources, understanding Earth’s climate and protecting ocean health.

Rick Spinrad, NOAA administrator, said, “Ocean Enterprise businesses provide observational technology and equipment essential to NOAA’s mission to take the pulse of the planet. Those businesses are also important users of NOAA’s publicly available data that they turn into actionable information and value-added products and services for a broad spectrum of end uses – the raw material for building out the new Blue Economy, addressing everything from supporting renewable offshore energy development to ensuring efficient maritime commerce. Understanding the trends affecting these businesses allows NOAA to identify new opportunities and partnerships to further support the Blue Economy.”

Building on the foundational study conducted by NOAA in 2015, this report analyzes trends in the Ocean Enterprise as it responds to the growing and changing information needs of the Blue Economy.

The report also details:

  • The changes in the markets for Ocean Enterprise products and services as it pivots toward rapidly developing areas, such as offshore renewable energy;
  • The changes in technologies to meet the needs of present and future Blue Economy markets, most notably a doubling of the number of businesses that provide autonomous surface and underwater vehicles as platforms for ocean observations and measurements;
  • The opportunities and challenges the Ocean Enterprise faces in supporting a growing Blue Economy, particularly in terms of navigating changing markets and the technological means of serving them.

Carl C Gouldman, director of the US Integrated Ocean Observing System Office at NOAA, said, “The combination of people, technology and data analysis is a powerful way to address societal challenges related to our changing climate and rising seas. To thrive in the decades ahead, we are going to need a robust Ocean Enterprise to innovate and problem-solve along the way. Our report and study results will help us understand and work with Ocean Enterprise companies to advance innovation more quickly and comprehensively.”

To download the full Ocean Enterprise Report, click here.

Share this story:

About Author

mm
, editor-in-chief

Dan first joined UKi Media & Events in 2014 having spent the early years of his career in the recruitment industry. As editor, he now produces content for Meteorological Technology International, unearthing the latest technological advances and research methods for the publication of each exciting new issue. When he’s not reporting on the latest meteorological news, Dan can be found on the golf course or apprehensively planning his next DIY project.

Comments are closed.