Outlook on the Finnish marine industry

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The Reddal Marine Practice was invited by the Finnish Marine Industries Association (Meriteollisuus ry) to talk about the effects of recent geopolitical and global supply chain disruptions on the Finnish and global marine industry landscape in their annual spring seminar on May 9-10, 2022. This marked an opportunity to follow up on our earlier scenario analysis conducted for the Ministry of Economic Affairs and Employment of Finland, which focused on building a perspective for the Finnish marine industry by developing a set of scenarios describing potential future states of the global marine landscape and a set of development areas for the Finnish marine industry. As part of our earlier study for the Ministry of Economic Affairs and Employment of Finland, four distinctive scenarios were developed by using deductive scenario methodology to frame the potential development of the global marine landscape, and seven key development targets related to improving the value chain collaboration, globalization efforts, export financing, availability of labor, supply chain, and know-how were pinpointed to increase the competitiveness of the Finnish marine industry.

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Our presentation "Finnish marine industry outlook" for the Finnish Marine Industries Association takes a perspective on how recent external events related to geopolitical tensions and global supply chain disruptions have affected the outlook of long term scenarios and what implications this has to the various players in the marine industry. We also talked about the long term outlook of the entire industry and our view on the role of governmental agencies in the evolution of the industry ecosystem.

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Marine industry, Market competition, Industry outlook, Finland