“Although the term “blue economy” has been used in different ways, it is understood here as comprising the range of economic sectors and related policies that together determine whether the use of oceanic resources is sustainable.” –World Bank
The blue economy includes many different activities, including: renewable energy, fisheries, maritime transport, tourism, and defense just to name a few. The World Bank estimates that the Blue Economy contributes roughly $1.5 trillion to the global economy each year; very few other natural resources can claim as large an impact.
Blue Technology as we use the term at Cape Fear Ocean Labs refers to the tools used by the businesses, military, researchers and others in the blue economy. This would include surface and undersea vehicles, satellites, sensors, and software used in control systems and for data analytics.
Cape Fear Ocean Labs is all about the tools, enabling the toolmakers that support all of the other aspects of the Blue Economy.