Anticipating change to deliver innovation, operational excellence and specialist engineering to a diverse range of global market sectors.
Mega trends and drivers are presenting both near-and longer-term opportunities for above market growth for James Fisher.
Three global mega trends of climate change and resource scarcity, shifting global economic power and technological breakthroughs have been identified as key market drivers for James Fisher, influencing the decision to refocus on our core markets of marine, energy and defence.
The necessity to achieve a reduced carbon footprint, growing share for low energy sources (such as gas, nuclear and renewables), greater regulation around information management, enlarging demand for remote asset management and increasing requirements for basic resources and defence capabilities, are some of the features we recognise within these long-term trends which afford our stakeholder opportunities.
Responding to global market drivers
Reacting to global market drivers is what ensures continuous, prosperous growth for the group and all our stakeholders. We have identified three global mega trends where we will focus our attention and efforts, including climate change and resource scarcity, shifting global economic power, and technological breakthroughs.
Read more about our market drivers below.
Climate change and resource scarcity
Climate change consequences and the need to cut emissions are driving a transition to renewable energy whilst population growth across developing markets is increasing demand for resources.
How we’re responding
We’re proud to support our oil and gas customers with environmentally responsible products and services, including fulfilling a growing need to decommission offshore assets with our well severance and infrastructure removal capabilities. In the renewables sector, we’re proving ourselves as a key, innovative partner in developing offshore wind; and we’re supporting our customers in their journeys to alternative fuels as with our expansion in LNG ship-to-ship transfers.
Our existing oil and gas services, combined with newer, renewable energy solutions, James Fisher is supporting its customers in accelerating the energy transition. We’re also demonstrating our commitment to reducing GHG emissions with low carbon shipping in our Tankships financial reporting division.
Shifting global economic power
Economic growth within emerging markets is stimulating increased energy consumption whilst global political instability is escalating defence concerns and amplifying economic turbulence.
How we’re responding
James Fisher specialises in serving the needs of new and emerging markets and our global footprint reflects the diverse range of customer and geographical markets served.
In response to resource scarcity concerns we’re innovating in support of our customers operating in marine life protection with the development of oxygenation solutions for aquaculture, exploring flare gas reduction systems in the oil and gas market, as well as waste management.
Technology is advancing exponentially, with significant transformation in data automation and visualisation. Effective and timely adoption of innovative technology is increasingly viewed as a prerequisite of successful differentiation.
How we’re responding
We’re supporting our customers in their digital transformation through the development of pioneering digital twin software to manage complex assets and critical project life cycles in challenging environments, delivering online, real-time asset management that helps reduce operating costs.
We continue to explore opportunities where digital applications and solutions can improve efficiencies, such as the digitalisation of offshore services and remote and autonomous subsea operations.
Our response to these key market drivers
In response to the energy transition, we’re demonstrating our commitment to reducing GHG emissions with low carbon shipping in our tankships division; we’re fulfilling a growing need to decommission offshore assets with our well severance and infrastructure removal capabilities; we’re proving ourselves as a key, innovative partner in developing offshore wind; and we’re supporting our customers in their journeys to alternative fuels as with our expansion in LNG ship-to-ship transfers.
Emerging markets are creating additional opportunities for geographic expansion while resource scarcity concerns are prompting us to consider oxygenation for aquaculture, flare gas reduction and waste management.
Acceleration in technology, meanwhile, is acting as a catalyst for our own advances in IP-backed innovation, digitalisation of offshore services and remote and autonomous subsea operations.
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