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electric boats

Electric, Hybrid Marine Market ‘$7.3bn by 2024’

electric boatsThe electric and hybrid marine market will increase from $2.6 billion in 2013 to more than $7.3 billion by 2024, according to an IDTechEx report.

The electric and hybrid marine business, from autonomous underwater vehicles to oil rig supply vessels and seagoing ferries is a large, vibrant and growing activity, according to Electric Boats, Small Submarines and Autonomous Underwater Vehicles (AUV) 2014-2024.

The report says in the US and elsewhere sea-going ferries and tugboats are going electric and, with tugboats, hybrid, to meet pollution requirements and improve performance. Meanwhile many ships moor electrically and tugboats hold position at sea electrically.

The attractions for military forces are even greater, the report says. The hybrid boat can act as a huge silent power supply for equipment at destination and travel covertly yet have long range and give huge surges of energy as required. For the special forces a silent electric boat or personal submarine is a disposable. Advanced range extenders such as fuel cells are being added, the report says.

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