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Rolls-Royce Power Reports Record 2024 Results
Natasa Mulahalilovic Rolls-Royce Power Systems achieved record 2024 performance, with revenue rising 11% to US$5.56 billion (€5.05 billion), surpassing the US$5.5 billion (€5 billion) mark for the first time. Adjusted operating profit jumped 40% to US$728.2 million (€662 million), boosting return on sales to 13.1% (up from 10.4% in 2023).
CEO Dr. Joerg Stratmann credited the results to a focused strategy in energy, government, marine, battery storage, and services. “We’ve grown our market share in mtu products and see strong future potential,” he said. The division recorded US$6.60 billion (€6 billion) in orders, signaling a positive outlook for 2025.
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Wärtsilä Reports Strong Growth in 2024
Natasa Mulahalilovic Wärtsilä, a marine and energy technology provider, saw a 34% increase in Q4 2024 order intake and 14% growth for the full year. Q4 orders reached EUR 2,491 million, with net sales up 13% to EUR 1,854 million.
The full-year order intake was EUR 8,072 million, with net sales growing 7% to EUR 6,449 million. The order book rose 25% to EUR 8,366 million.
CEO Håkan Agnevall highlighted record highs in order intake, operating results, and cash flow, noting significant profitability improvements. Despite geopolitical uncertainties, demand for decarbonization solutions has remained strong.
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Sanlorenzo, Volvo Penta Collaborate
The Italian superyachts manufacturer Sanlorenzo and Volvo Penta are working to enhance yachting efficiency and sustainability by integrating the Volvo Penta’s IPS Professional Platform into the new SX120 and SX132 superyachts.
As part of its “Road to 2030” strategy, Sanlorenzo, a leading superyacht manufacturer, continues to drive innovation following the 2024 launch of the 50 Steel, the first superyacht powered by a green methanol-to-hydrogen fuel cell.
The IPS Professional Platform is an integrated, modular propulsion system developed by Volvo Penta and has been successfully tested on the 37 meters passenger ferry called Penta 40 in Sweden in 2024. It is designed for commercial vessels and superyachts between 25 and 55+ meters to improve efficiency, sustainability, reliability and comfort on the sea.
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Outboard Engine Market Forecast: USD 19 Billion
GLOBAL REPORT
The global outboard engines market size was $10.58B in 2023 and is anticipated to reach $19.13B by 2034, growing at a CAGR of 5.53% from 2024 to 2034, according to Power Systems Research (PSR).
Source: Power Systems Research
Summary. The outboard engines market produces, sells, and distributes outboard motors. These engines are independent propulsion units positioned externally on a boat’s transom instead of being integrated within the hull. These engines, which are used to power a variety of watercraft, such as boats, dinghies, pontoons, and fishing vessels, usually consist of a powerhead, gearbox, and propeller.
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Maersk Continues Investments in Fleet Decarbonization
Natasa Mulahalilovic The Danish A.P. Moller & Maersk, the second largest container shipping company in the world, has set a goal to reach zero-emission container shipping by 2040. The Maersk ambitious objective is much advanced compared to the global shipping industry objective to meet net-zero carbon emissions by 2050 to fight against 3% of the global greenhouse emission that they are responsible for.
The program initiated in 2021 aims to renew the fleet of 707 container ships, 304 owned and 403 long-time-chartered, with dual-fuel vessels and propulsion systems. Contracts with different partners and suppliers are in the process of being signed. The giant has chosen to combine methanol and liquified gas bio-LNG for the propulsion systems of its renewed green fleet. The exact split of propulsion technologies will be determined over time considering the latest regulatory requirements and green fuels supply.
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Electric Hydro Foiling Popular in Maritime Industry
EUROPE REPORT
Natasa Mulahalilovic The electric hydro foiling propulsion system is a fast-growing technology taking an important place in the future of the maritime industry. The revolutionary concept provides cost-effectiveness, zero-emissions, zero-noise and excellent performance values (very fast) in different types of boats for pleasure and commercial use.
Tne technology is innovative and is, for most vessels, based on a specific aerodynamic design of a boat, retractable foils, electric motors, and batteries. Hydro foiling and electric systems work together to cut through waves causing less drag and resulting in higher speed.
The use of energy is much less than for any other vessel with a traditional propulsion system. E-foiling boats give an impression of flying over water silently with no CO2 emission or any other air or water pollution. The experience is comfortable, safe, clean and speedy.
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Outboard Marine Engine Market Hits $5.5 Billion
GLOBAL REPORT
The global Outboard Marine Engine Market size is estimated at $5.54 billion in 2023, and is expected to reach $8.99 billion by 2035, growing at a CAGR of 4.1% during the forecast period, according to research by Power Systems Research.
The COVID-19 outbreak significantly impacted the boat manufacturing industry and caused a decline in recreational activities worldwide, which hurt outboard motor sales. However, in 2021, the market regained momentum due to the easing of restrictions. The market is expected to register healthy growth in the coming years.
There are generally three types of boat drives including inboard, outboard, and sterndrive. One obvious distinction among them is their placement of motor in the boat.
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