Finnøy Gear & Propeller

What Finnøy Gear & Propeller does

Finnøy Gear & Propeller AS is a Norwegian family-owned designer and manufacturer of complete marine propulsion systems, founded in 1884 on Finnøy island and headquartered in Harøy, Norway. The company's core product portfolio comprises reduction gearboxes (G18 through G105 series, including 2-SPEED variants with PTO/PTI/PTH functions), controllable pitch propellers (P30-P125 series, 1.3m to 5m diameters), fixed pitch propellers, and a 5th generation electronic remote control system with pre-set operating modes for different vessel tasks. These are offered as integrated turnkey packages combining gearbox, propeller, remote control, shaft lines, and flexible couplings. Finnøy also produces hybrid propulsion systems integrating battery technology with diesel-mechanical drives (claimed 25-40% fuel savings), and specialized silent propulsion systems meeting DNV Silent S/R/A/F and ICE 1B certifications for research vessels.

The company generates revenue primarily through project-based hardware sales of customized propulsion systems to shipowners, shipyards, and naval architects, with pricing negotiated per vessel specification. Secondary revenue streams include aftermarket service, maintenance, commissioning, and hybrid retrofit projects. Finnøy serves four primary segments: fishing fleet (trawlers, purse seiners, longliners, gillnetters), aquaculture (well boats, live fish carriers, service catamarans), research vessels (low-noise scientific applications), and commercial shipping (LNG tankers, cargo). Distribution combines direct enterprise sales from headquarters and a 2019-opened Ålesund sales office with a global network of exclusive agents across North America, Europe, Asia, Oceania, and Africa. The company has delivered 1,500+ propulsion systems and operates with a workforce of 51-100 employees under fourth-generation family leadership.

Name

Finnøy Gear & Propeller

Legal name

Finnøy Gear & Propeller AS

Website

https://finnoygear.com

Company type

Private

Founded year

1884

Operating status

Operating

Headcount range

51–100 employees

Short description

Finnøy Gear & Propeller AS is a 140+ year-old Norwegian family-owned manufacturer of complete marine propulsion systems, including reduction gearboxes, controllable pitch propellers, and hybrid and silent propulsion systems, primarily serving the global fishing fleet and aquaculture industries.

Ownership category

akta.pro rank

Product category

Marine Propulsion Systems

NAICS

Ship and Boat Building (33661)

SIC

Engines & Turbines (3510)

akta.pro primary industry

Propulsion Drives, Gearboxes & Shaftlines (IMAJAHAD)

akta.pro secondary industries

Propellers & Waterjets (IMAJAHAE), Marine Hybrid & Electric Propulsion Systems (IMAJAHAC), Propulsion Control, Monitoring & Automation (ECS, PMS interface) (IMAJAHAH), Propulsion Integration, Commissioning & Testing (Factory/sea trials, alignment) (IMAJAHAM)

Keywords

• Marine propulsion systems
• Reduction gearboxes
• Controllable pitch propellers
• Hybrid marine propulsion
• Silent propulsion systems

Headquarters

HQ city

Sandöy

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Complete Propulsion Systems: Finnøy generates primary revenue from designing, manufacturing, and delivering complete propulsion systems including gearboxes, propellers, remote control systems, and shaft lines to shipowners and shipyards worldwide. Systems are highly customized per vessel specifications.
2. Service and Maintenance: The company provides ongoing service, maintenance, commissioning, and support for their installed base of propulsion systems globally, including both domestic and international field service.
3. Retrofit and Hybrid Conversion: Revenue from retrofitting existing vessels with new propulsion systems and converting vessels from fossil to hybrid propulsion, including battery integration and system upgrades.
4. Product Catalogues and Downloads: Finnøy offers downloadable product catalogues including the Finnøy Range catalogue, Global References, Fishing References, and Aquaculture References.

Pricing tiers

Go-to-market motion3 records

Distribution channels2 records

Marketing channels4 records

Core offering

Finnøy Gear & Propeller designs and manufactures complete marine propulsion systems, including reduction gearboxes, controllable pitch propellers, fixed pitch propellers, and electronic remote control systems. The company delivers turnkey propulsion packages to shipowners, shipyards, and naval architects worldwide, with specialized offerings in hybrid propulsion and silent propulsion systems for fishing, aquaculture, research, and commercial vessels.

Product overview

Finnøy Gear & Propeller AS is a leading designer and manufacturer of complete marine propulsion systems headquartered in Norway, with operations spanning over 140 years. The company's product portfolio centers on reduction gearboxes (G18 through G105 series including 2-SPEED variants), controllable pitch propellers (P-series from P30 to P125), and integrated 5th generation remote control systems. These core components are offered both individually and as complete turnkey propulsion packages. The company also provides hybrid propulsion solutions combining diesel-mechanical and electric power with battery integration, as well as specialized silent propulsion systems meeting DNV noise classifications for research vessels. Service and aftermarket support complete the offering through a global network of agents and service engineers.

Differentiator

Problem solved

Functional benefit

Products and services

• Reduction Gearboxes Marine reduction gearboxes connecting engines to propeller shafts, ranging from G18 to G105 series, including 2-SPEED variants with PTO/PTH/PTI functions for hybrid propulsion applications. Designed for fishing, aquaculture, research, and commercial vessels.
• Controllable Pitch Propellers (CPP) Controllable pitch propellers in P30–P125 sizes with diameters from 1.3m to 5m, available in NiAl-bronze or stainless steel. Includes Super Silent variants for research vessels and HS (High Speed) models. Allow operators to adjust blade angle for optimal efficiency across operating conditions.
• Fixed Pitch Propellers Fixed pitch propeller options including models in rudder nozzles for vessels requiring simpler propulsion configurations. Produced from NiAl-bronze or stainless steel per customer specifications.
• 5th Generation Remote Control System Electronic remote control system with motorized levers and pre-set operating modes including Idle/Start-up, Harbour, Danish Seiner/Steaming, Light Trawl, Heavy Trawl, and Electric modes. Designed for easy control of multiple operation configurations and hybrid power management.
• Hybrid Propulsion Systems Combined diesel-mechanical and diesel-electric propulsion solutions integrating batteries, permanent magnet shaft generators, and electric motors for PTI (Power Take In) boost functionality. Enables peak shaving, electric-only operation during low power demand, and 25-40% fuel savings.
• 2-SPEED Gearbox Series Two-speed gearbox series for vessels with multiple operating modes. LOW gear for transit with loaded/unloaded vessels in good weather, HIGH gear for challenging conditions. Optimizes propeller speed relative to power requirements and includes PTH (Power Take Home) for safety redundancy.
• Silent Propulsion Systems Low-noise propulsion packages meeting DNV classifications: Silent S (Seismic), Silent R (Research), Silent A (Acoustic), Silent F (Fishery). Includes specially designed Super Silent 5-blade propellers, flexible mounts, and comprehensive noise abatement engineering for research vessels.
• Turnkey Propulsion Systems Complete propulsion system solutions combining gearboxes, propellers, remote control systems, shaft lines, and flexible couplings as integrated packages for fishing vessels, aquaculture service vessels, research vessels, live fish carriers, and process vessels.
• Service & Aftermarket Support Professional support services including installation, commissioning, maintenance, spare parts supply, and technical assistance for Finnøy propulsion systems globally through a network of service engineers and regional agents.

Quantifiable outcome

• 25-40% fuel savings achieved by MS Ecofive hybrid system compared to conventional power systems
• +3 more outcomes

Named customers15 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

14 partnerships are on record, tiered core and minor.

• HJ Shipbuilding & Construction (Korea)coreStrategic or Co-development Partner · 26 June 2024Finnøy delivered comprehensive propulsion package for Tamhae III research vessel, built by HJ Shipbuilding & Construction in Busan, South Korea. The partnership includes cooperation on low-noise propulsion technology meeting stringent DNV certifications.
• Skipsteknisk AS (Norway)coreStrategic or Co-development Partner · 26 June 2024Norwegian naval architecture firm responsible for Kaharoa II design. Skipsteknisk worked with Finnøy to develop ultra-quiet propulsion meeting DNV Silent-A and Silent-F classifications for the New Zealand research vessel.
• JAHI (Korea)minorChannel Partner/ Reseller/ Distributor · 23 October 2023Korean shipyard constructing 3000TON training vessel for KIMFT. Finnøy providing propulsion system with hybrid G80LFP gearbox and 3.6m CPP through local partner YusinHR.
• YusinHR (Korea)minorChannel Partner/ Reseller/ Distributor · 23 October 2023Korean customer coordinating comprehensive propulsion package including main engine, Finnøy system, PMS, IAS, battery, and generator systems for delivery to JAHI shipyard.
• Innovation NorwayminorGTM or Marketing Partner · 19 October 2023Innovation Norway provides grants for export promotion supporting small and medium Norwegian companies with green solution innovations to increase international market presence.
• Moen Marin AS (Norway)coreStrategic or Co-development Partner · 3 July 2023Partnership for hybrid conversion of AQS fleet vessels (AQS Tor, Namdal, Troll) from fossil to hybrid propulsion. Moen Marin integrates batteries supplied by ZEM Energy with Finnøy's gear systems.
• AQS AS (Norway)coreStrategic or Co-development Partner · 3 July 2023AQS operates fleet of 14 vessels with 130 personnel. Finnøy providing hybrid conversion of three sister ships including new gear systems and electric motor integration, with 564 kWh battery capacity per vessel.
• Westcon (Norway)coreStrategic or Co-development Partner · 6 June 2023Finnøy delivered propulsion for MS Ecofive, built by Westcon Ølen/Norse Celik. The collaboration resulted in Ship of the Year 2023 winner with hybrid diesel-electric propulsion system achieving 25-40% fuel savings.
• Ulstein Design & Solutions AS (Norway)coreStrategic or Co-development Partner · 6 June 2023Finnøy collaborated with Ulstein on Ecofive stern trawler design. Ulstein's X- Bow hull design combined with Finnøy's twin screw propulsion system created award-winning sustainable fishing vessel.
• Norwegian Maritime Exporters (NME)coreGTM or Marketing Partner · 1 January 2023NME organizes the Norwegian Pavilion at international maritime exhibitions. Finnøy participates as part of Team Norway, benefiting from professional exhibition framework and collective visibility at events like Kormarine.
• Salt Ship Design (Norway)coreStrategic or Co-development Partner · 3 August 2022Salt Ship Design in Stord designed Napier's new process vessels. Finnøy supplies 2-SPEED gearboxes optimized for variable power needs of salmon transport vessels operating along the Norwegian coast.
• Tehnomont Shipyard (Croatia)coreChannel Partner/ Reseller/ Distributor · 1 May 2022Croatian shipyard building multiple vessels for 60 North Fishing Ltd including twin-rig trawlers. Finnøy supplies G50FKV gearboxes with triple PTO and P70.22.300.4D controllable pitch propellers.
• Larsnes Mekaniske Verksted AS (Norway)coreStrategic or Co-development Partner · 12 May 2020Long-term partnership since 1995 with leading Norwegian shipyard in fishing and wellboat segment. Finnøy has supplied propulsion for 22 newbuildings including Rostein's vessels and the world's first battery hybrid well boat Ro Vision.
• Vestværftet Aps (Denmark)coreStrategic or Co-development Partner · 1 September 2019Danish shipyard building fishing vessels Elias Johan and Bernt Oskar for Norwegian owners. Finnøy supplying G70FP-2SPEED PTO/PTH gearboxes with 3.40m CPP propellers in nozzle and fifth generation remote control.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• ABB Marine & Ports: Global marine propulsion and electrical systems provider with hybrid and electric ship solutions. Competes with Finnøy in marine hybrid driveline space, particularly for vessels adopting battery-electric or hybrid architectures.
• MAN Energy Solutions: Leading manufacturer of large marine engines and turbochargers with growing marine hybrid offering. Competes in marine propulsion space but primarily serves larger commercial vessels with a fundamentally different scale and customer base than Finnøy.
• Volvo Penta: Marine propulsion and driveline supplier with hybrid/electric solutions for commercial and leisure vessels. Overlaps with Finnøy in marine hybrid propulsion but serves a broader commercial and leisure customer base.
• ZF Marine: Global supplier of marine transmissions, propellers, and driveline technology. Direct overlap with Finnøy's reduction gearbox product line, but operates as a broad automotive/marine driveline incumbent with much larger R&D and distribution.
• Rolls-Royce (mtu): mtu propulsion systems and hybrid marine solutions from Rolls-Royce Power Systems. Competes in the marine hybrid and propulsion space, including fishing and patrol vessels, with broader portfolio and larger financial capacity than Finnøy.
• Caterpillar Marine: Global provider of marine propulsion engines and hybrid systems. Overlaps with Finnøy in integrated marine propulsion packages but at much larger scale and broader customer base across commercial and offshore markets.
• Wärtsilä: Global marine propulsion incumbent offering hybrid propulsion systems, engines, and integrated ship solutions. Overlaps with Finnøy in marine propulsion but operates at vastly larger scale across broader vessel categories and energy segments.

Regional players

• Kongsberg Maritime: Norwegian marine technology company providing propulsion, control, and integrated vessel systems. Strong adjacency to Finnøy via Norwegian maritime cluster, with overlap in vessel automation, hybrid control, and aquaculture/fishing customer base.

Direct peers

• Brunvoll AS: Norwegian-headquartered marine propulsion specialist (azimuth thrusters, CPPs, gearboxes) serving fishing, offshore, and commercial vessels. Closest direct competitor given similar product scope, Nordic manufacturing base, and shared customer overlap in fishing fleet and aquaculture segments.
• Schottel: German marine propulsion specialist focused on azimuth thrusters, CPPs, and hybrid solutions. Directly comparable in mid-size vessel propulsion with overlapping fishing, offshore, and commercial customer base.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/finnoygear

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Finnøy Gear & Propeller