Annual review of the MST sector
The Society of Maritime Industries, based in London, has produced its seventh business survey of the British maritime scientific industry.
It has highlighted a continued growth of the Marine Science and Technology (MST) sector and aims to provide an insight into the current business activity in terms of market sectors, market size and business confidence for now and the future.
The annual review featured a number of key points including the fact that commercial MST contributes on average nearly £2bn per year to the UK economy.
When operating on a global scale the market diversity in the UK is very wide, including oil, gas, renewable energy, environment, harbours and military. The companies had a total annual export value of at least £760m.
It also revealed that there has been a drop in the number of companies reporting a turnover increase but the number investing in R&D stayed the same.
SMI said that the report shows the industries commitment to maintaining and increasing its level of growth.
The survey took a slightly different twist this year as the SMI invited companies to participate after Ocean Business at the National Oceanography Centre in Southampton on 14-16 April. This was in order to ensure the findings were as accurate and supported as possible.
The 2015 annual review of the UK marine scientific industries can be found on the SMI website.
By Alice Mason
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