The Australian marine industry includes:
- shipbuilding and repair
- boatbuilding and repair
- marine equipment manufacturing
- marina operations
The industry is a major contributor to the economy, with $1.7 billion in value added to the Australian economy. In 2014–15, it employed 14,600 workers nationally and exported approximately $575 million.
There are over 2,000 registered businesses operating in the sector, the majority of which employ up to 19 people. Between 2001 and 2011, $1.2 billion was invested in research and development (R&D).
The report includes seven detailed case studies. These draw out the importance of:
- continued investment in R&D
- identifying growing export markets
- the need for skilled workers
- the benefit from increased collaboration within the industry to lead the market
We engaged KPMG to prepare a report on Australia’s current marine industry capability and its contribution to the national economy. Industry consultations undertaken as part of the study identified growth opportunities and challenges. The report will help us consider the issues relating to the sector. We’ll continue to review and engage with the sector.