The UK lacks a “coherent approach” to monetising trade and industry in the country’s oceans, according to Ryan Mowat, director and chair at the Marine Science and Technology Council at the Society of Maritime Industries UK.
The ocean and maritime industries could represent an economic value of approximately £2 trillion, Mowat said while speaking at the Ocean Business conference in Southampton on Wednesday.
He called for a strategic approach across government, academia and industry to maximise opportunities for growth in the sector, urging the government to regularly survey and quantify the ocean landscape.
While the hidden industry sector could enable an ocean economy worth £2tn, more ocean data, information and knowledge is needed to maximise that potential, according to Mowat.
“We still see a lot of focus on traditional industries, such as shipping, offshore energy,” he said. “But we want to see a lot of focus as well on the more blue and sustainable economies or industries that are growing up in our ocean space.”
That economy includes the development of energy and minerals, such as offshore wind as well as oil and gas industries operating in areas such as the North Sea.
It also includes ocean conservation and environmental industries, climate mitigation efforts, maritime security and defence, transportation and trade, leisure and tourism, and living resources.

Mowat said industry needs “government to be doing more to support”, with a national “joined up strategy” to map out the opportunities on offer from UK ocean enterprise.
He called for a dialogue with ministers, in addition to funding for biannual surveys in order to estimate the size of the ocean economy and help people understand the value of its development as a potential social enterprise.
He also argued that data collection and analysis will be fundamental to the sustainable growth of the ocean economy in future.
Ocean service businesses that provide insights to drive innovation and support sustainable practices, and allow operational decision making, will be fundamental to growth of the ocean economy, he added.
Service businesses are “well positioned” to meet the critical ocean data, information and knowledge needs of the future sustainable ocean economy, he said.
To enable the ocean economy to reach its potential, he urged UK businesses to capture new business and employment opportunities created as the ocean economy grows and embraces sustainability.
That ocean economy includes the UK technology industry, which manufactures and distributes ocean exploration, observation, and measurement products.
Innovations such as cloud-connected environmental sensors, autonomous vessels, and underwater robots, are expected to be integral to enabling the ocean economy of the future.
Technology businesses in this sector have the potential to play a growing part in supporting the development of global ocean economy markets leading job creation and increasing revenue, according to Mowat.