Maritime Sector Plays Key Role in Australia

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Researched by Industrial Info Resources (Sugar Land, Texas)--The maritime sector is crucial for Australia's economy. Australia has a significant role in the shipping industry due to its geographical position in the South Pacific. The country's manufacturing industries rely heavily on maritime transportation for exports.

The nation is the fifth-largest user of shipping services in the world. According to reports, the maritime industry of Australia delivers AU$80 billion (US$55 billion) to the economy, and this is expected to reach AU$100 billion (US$68.8 billion) by 2025.

Industrial Info is tracking US$3.6 billion of active maritime handling projects in Australia. These projects include upgrades at container terminals, wharf upgrades, jetty upgrades, break water additions, dredging and equipment addition projects. The ports in Queensland and Western Australian have received the most investment.

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Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).