Fuel Management Systems (FMS) Market - Global Industry Outlook, Trends, and Forecast 2017 - 2025

Albany, NY -- (SBWIRE) -- 10/19/2017 -- Fuel cost accounts for a major portion of the transportation operating cost. Higher prices/fluctuating prices of fuel oil and strict environmental norms have led to the need for efficient management of fuel. Thus, monitoring, controlling, and reporting of fuel consumption is of key importance along with the management of fleet in order to control the total operating cost of a vessel. Railways and waterways are essentially inexpensive modes of goods/cargo/passenger movement. Operational cost is about 45% less as compared to roadways and about 70% less than air transportation. By waterways, a large bulk can be transported in one go. Demand for merchant vessels is thus high for movement and transportation of goods, cargo, and oil and gas.