KONGSBERG has a long-term commitment to the reduction of greenhouse gases and other negative environmental effects. Our most important contribution is to use our technology and expertise to develop even more climate-friendly solutions for our customers. This effort will often coincide with the desire to reduce costs and increase efficiency and security. Our competitiveness will be strengthened as a result of these efforts.
We are known for providing leading technological solutions in our traditional business areas. Our competitiveness depends on having efficient and safe operations in all conditions. This also contributes to lower greenhouse gas emissions and other negative environmental effects. In the maritime segment, for example, some 30,000 ships that operate worldwide already carry our products. We provide sensor systems that make it possible to monitor on-board functions accurately, modern automation systems that are important for optimal power supply management on board and management systems that enable optimal vessel manoeuvrability.
In the last few years, we have also established activities in new areas which will give an even stronger contribution to lowering climate gas emissions. Our investment in wind power is starting to have an impact in the market, we have engaged in ocean farming that provides climate friendly food production, and we are at the forefront of developing batterypowered autonomous ships. Several of these solutions are good examples of our capacity for innovation.
We already have a solid technology platform to build on, but a focused effort is needed to build this platform even stronger. Rapid technological development within a number of areas, such as artificial intelligence and other smart methods to improve efficiency, will reduce climate gas emissions and other negative environmental impacts. Such methods are often data-driven, and we must therefore be able to deliver even better sensors and at the same time ensure access to the data generated by these sensors.
In some of the markets where we operate, there is a greater focus on costs. There is often less willingness and capacity to invest in new technology than before. It is therefore important that our products and solutions can provide both operational savings and reduced emissions. An example of this is hybrid power supply solutions that make it possible to combine electrical and traditional solutions on vessels that are in operation. This challenge is not only related to the development of new products, but is also a case of highlighting the values they represent. In some sectors, we face possible disruptive changes due to new technology or other substantial changes. Such situations are typically characterised by pervasive changes in the established value chains. This can be a threat within our well-established markets, but also an opportunity
– especially in markets where our presence is not significant yet. We need to be aware of such changes in the value chains, have the capacity to be a leading player where they take place, and be capable of reacting quickly. An example of this is the development of autonomous electric ships. These give significant environmental gains through lower emissions but also represent markets for brand new concepts within maritime transport. Being active in these value chain transformations means that we can develop much more comprehensive solutions, for example within logistics, that give further reductions in climate gas emissions.