Europe has set an ambitious target to install 300-400 GW of offshore wind energy by 2050, but the International Marine Contractors Association (IMCA) warns that achieving this goal hinges on scaling up the marine construction fleet.

To meet these offshore wind targets, Europe will need to deploy over 10,000 offshore wind turbines, which necessitates a significant expansion of heavy-lift vessels, specialist equipment, and trained crews.

IMCA CEO Iain Grainger emphasized the importance of long-term policy certainty to facilitate the necessary scaling of capacity for the energy transition.

Investment in new vessels, modernization of existing fleets, and expansion of port infrastructure are crucial, requiring aligned regulatory frameworks and incentives.

The report highlights the vital role of marine contractors in Europe's green transition, contributing significantly to job creation and economic value.

Moreover, the marine contracting sector enhances Europe's energy security by reducing reliance on fossil fuel imports and safeguarding critical energy assets.

IMCA's report calls for the strategic recognition of marine contracting within EU initiatives and urges targeted investment incentives to support the sector.

Currently, there is a shortage of heavy-lift vessels, with construction of each ship taking four to six years, which underscores a critical gap in capacity for the sector.

Key responsibilities of the marine contracting sector include the installation and maintenance of offshore wind turbines, laying subsea cables, and enabling carbon capture and storage.

The economic impact study reveals that the marine contracting sector generates over €15 billion in taxes and around €1 billion in visa fees for European governments annually.

By 2025, the sector is projected to generate over €45 billion in gross value added (GVA) and support more than 220,000 direct jobs, with a GVA-per-worker 2.5 times the European average.

If Europe fails to enhance its marine contracting capabilities, it risks losing strategic autonomy and falling behind in the global race for energy transition.