The First Year

Technology underpins much of the growth in MEVs. The MRFR report mentions:

• Battery & energy storage advancements: More energy-dense batteries, faster charging, modular/swappable designs are key. 

• Propulsion and electric drivetrain improvements: Electric motors, hybrid systems optimized for marine conditions.

• Autonomy & unmanned systems: AUVs and USVs require advanced sensors, navigation and remote control systems—these are enabled by electric vehicle platforms.

• Infrastructure integration: Charging/fuelling networks at marinas, ports and for underwater craft.

•  These tech innovation zones represent major opportunities—not just in craft manufacturing, but in supporting systems, retrofits, upgrades and servicing. Companies that can build for marine-specific electric propulsion (which has different constraints vs land EVs) will be well-positioned.