To cut fuel usage and carbon emissions, the New York City Transit Authority chose BAE Systems in June 2020 to provide 435 electric hybrid generators and propulsion systems for its new fleet of transit buses.
Volvo Penta and Marell, a Swedish boat builder, worked together to develop the new Marell M15 patrol boat in September 2019. The vessel is custom-built from helm to prop and outfitted with Volvo Penta's most recent D6 engine and DPI system, setting a new benchmark for high-speed operations.
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 5444
Published Date: Dec 05, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The growing demand for eco-friendly fuels, and high demands in marine sector are some of the major factors anticipated to drive the growth of marine propulsion and auxiliary power market.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2024-2036.
The major players in the market are of BAE Systems, Siemens Energy, ABB Ltd, Wartsila, MAN Energy Solutions, AB Volvo,, and others.
The diesel segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.
The market in Asia Pacific is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.