The marine industry is much more than just shipbuilding

The marine industry includes shipbuilding, repair and offshore yards, as well as component and turnkey suppliers in the marine technological industry. In addition, the marine industry includes consultants and ship design companies, as well as system and equipment suppliers.

The shipbuilding industry is the best known and largest industry within the marine industries. Shipyards are once again the most prominent part of shipbuilding. However, the marine industry consists of a very diverse group of companies, where, for example, the importance of the IT industry is growing rapidly.

Turnkey suppliers manufacture the total supply for various areas of a ship, such as restaurants or spas with their own subcontructors.

Robotised steel cutting  An arcade on a cruise ship with colourful design  Strong patterns are typical for restaurant design on a cruise ship

The marine industry has a nationwide influence

The marine industry business network covers a wide range of industries. Its effects extend across the country. Although the core of the marine industry is formed from approximately one hundred companies, almost one thousand companies operate in the marine industry in Finland.

Typically, the vast majority of companies in the marine industry sell their products and services to other business sectors. This has a stabilising effect on companies, as the marine industry has traditionally been a cyclical industry with large economic cycles.

It all started with shipbuilding

The marine industry has a long history in Finland. Its roots date back to 1732, when shipbuilding began along the Aura River in Turku. The largest shipyard in Finland is now Meyer Turku Oy, which continues this long tradition of shipbuilding in Turku. There are also two other big newbuilding shipyards in Finland: Rauma Marine Constructions in Rauma and Helsinki Shipyard in Helsinki.

Over the years, shipyards have increasingly become assembly sites. Most of the value of the finished ship is generated by the shipyard's network companies.

Some of these marine industrial companies were born as spin-off businesses of the shipyards when the products originally developed there began to be manufactured by separate companies. These companies then continued their product development and have grown to be important in their specialty, even on a global scale.

In turn, some companies coming from outside the industry have found new business in the marine industry by tailoring their products to suit ship applications.

In addition to its innovation and high technology, the strengths of the maritime network lie in its close cooperation and good project expertise.

 A modern engine room on a passenger ferry
The engine room of the ship Viking Grace

The marine industry plays a major role in Finnish exports

Within the marine industry there is a wide range of business activities that demand expertise, as well as the development and utilisation of  innovative technologies. This is also of great importance for the creation of new innovations.

The marine industry is one of Finland's most important export sectors. The sales from one large cruise ship alone already accounts for almost 1% of annual foreign exports.

The industry is more than specialised shipbuilding

The Finnish marine industry specialises primarily in the construction of cruise ships and special vessels suitable for Arctic conditions, such as icebreakers. However, the marine industry is much more than just shipbuilding.

Marine industrial companies are involved in various offshore projects, e.g. in traditional oil and gas production. Today, companies are also increasingly involved in the exploitation of renewable marine energy sources, such as wind and wave power.

The marine industry is very international. Almost all of the ships built in Finland go to foreign customers. A large part of the marine industry suppliers’ customer base is also found in other countries in Europe, the Far East, and the rest of the world.

Exports typically represent more than 90% of the total turnover of maritime industries.

Key figures

1,100
companies
9.1
billion euros turnover
30,600
employees

Operators in the business

Finnish Marine Industries
Member companies of Finnish Marine Industries