Insights on the Electric Ships Global Market to 2028 - Surge in the Adoption of Hybrid-electric Propulsion Technology for Large Ships Presents Opportunities - ResearchAndMarkets.com
BAE SYSTEMS PLC S/ADR (BAESY)
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Source: Business Wire
DUBLIN--(BUSINESS WIRE)--The "Electric Ships Market to 2028 - COVID-19 Impact and Global Analysis - by Type, Power, Range and Ship Type" report has been added to ResearchAndMarkets.com's offering.According to this report the market is expected to grow from US$ 3.82 billion in 2021 to US$ 7.76 billion by 2028; it is estimated to grow at a CAGR of 10.3% from 2021 to 2028.Increasing Regulatory Support from Government Authorities and Industry Associations to Favor Market GrowthSeveral marine industry associations are focusing on reducing the gas emission from the shipping industry. As per a report published by the Norwegian Ministry of Climate and Environment, in April 2018, International Maritime Organization (IMO) adopted a plan to reduce greenhouse gas emissions from international shipping by ~50% compared with the level in 2008 by the end of 2050.Additionally, the IMO strategy aims to improve the energy efficiency of each ship and to reduce the carbon intensity of the whole marine
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