Wartsila Oyj SWOT & PESTLE Analysis

Strength

1. Global leader in the marine and energy markets with robust international presence: Wartsila is known as a global leader for the marine and energy markets in terms of deploying smart technologies and complete lifecycle solutions. With extensive focus of sustainable innovation, increasing the overall efficiency and wide usage of data analytics, the company strives to maximize its customers’ both vessels’ and power plants’ environmental and economic performances. Having an employee base of more than 19,000 employees, Wartsila was able to register a net sales turnover of EUR 5.2 billion as of 2019. The company has built itself a robust international footprint by having widespread operations around the globe in more than 200 locations in approximately 80 countries. In 2019, 38% of the company’s total revenue comes from Asia whereas Europe accounts for 33% of the same, followed by Americas and Africa contributing 21% and 4% respectively.

2. Leading position in digital transformation by deploying smart technologies: For the marine and energy markets, Wartsila has established its position as the global leader in the deployment of smart technologies and complete lifecycle solutions. With the rising need to raise the efficiency by simultaneously abiding with more stringent environmental legislations, both the marine and energy sectors are undergoing rapid transformation. With its Smart Marine and Smart Energy visions, Wartsila has acted as an enabler of this transformation process. The company validates the commercial feasibility of the smart marine vision with the help of its Fleet Optimisation Solution (FOS) to supply over 600 vessels to the Anglo-Eastern’s fleet. Furthermore, the company received its first order for SmartDock during 2019, making it the world’s first commercially available auto-docking solution.

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Weakness

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Opportunity

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Threats

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Political

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Economic

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Social

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Technological

1. Leveraging AI and advanced diagnostics for remote and real time monitoring: With the advent of Industry 4.0, buzzwords like big data, AI and machine learning came into picture. The technology group Wartsila has leveraged the use of such advanced technologies and has launched its Expert Insight product, in combination with Wartsila Lifecycle Solutions agreement, that intends to provide proactive customer support along with the Wartsila Expertise Centres ensuring long-term accurate insights for their predictive maintenance strategies. This innovative product real-time monitors equipment and systems by leveraging artificial intelligence (AI) and advanced diagnostics. Upon the detection of anomalous behaviour, the specialists at Wartsila Expertise Centres are flagged at the earliest which allows them to provide appropriate resolution to the issue.

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Legal

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Enviromental

1. Initiatives for moving towards a 100% renewable energy future: To reach its set environmental targets, California has taken up certain initiatives to address the key policy issues arising on its path towards 100% renewable energy. Offering its support in this initiative, Wartsila has suggested models to be used as a carbon-free fuel in flexible power plants, which are using excess clean power to produce hydrogen. These modelling works by Wartsila involves achieving the 100% renewable target by expanding wind and solar generation as well as the agile, flexible generation plants to burn gas, along with using synthetic renewable fuels from power-to-hydrogen and power-to-methane processes. The company guarantees increased efficiency and performance with the help of its offerings that include flexible power plants, energy management systems, and storage, as well as lifecycle services. As of 2020, Wartsila has already delivered 72 GW of power plant capacity in 180 countries around the world.

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