Economic development agency Scottish Enterprise is making a push to keep Scotland at the top of the global subsea market, despite the challenges offered by competition from other regions around the world and the harsh realities of the severe industry downturn.
As a nondepartmental public body of the Scottish government, Scottish Enterprise has set up an action plan for the country’s important subsea sector—with grants on offer to promote invention and development of new technology that will push the sector forward.
Scotland’s 370 subsea companies already generate annual turnover of $9.4 billion, with the global market currently valued at about $62.7 billion per year.