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E-book State-of-the-Art Digital Twin Applications for Shipping Sector Decarbonization
In the most general term, a digital twin (DT) represents a digital counterpart of a physical entity, encom-passing its entire lifecycle, continually updated with real-time data, and serving as a decision support tool (IBM-A, nd). The digital twin concept has been around since the 1960s; however, it has started to gain traction only relatively recently, due to technological advances that we discuss later in the chapter. Digital Twin models are gaining more and more interest for their potentials and strong impact in ap-plication fields, such as manufacturing (Lu et al., 2020), aerospace (Li et al., 2022), healthcare (Copley, 2018), and medicine (Hempel et al., 2019).The potential advantages that organizations can gain through the implementation of digital twins are substantial. In the medium to long term, having a digital twin is anticipated to become a prerequisite for competitiveness, particularly in manufacturing, transport logistics, and shipping. Indeed, digital twin technology earned recognition as one of the top ten strategic technologies by IT market research firm Gartner (Gartner, 2017). Digital twins now stand as a business imperative that covers the entire lifecycle of assets and processes, forming the foundation for connected products and services. SAP underscores that companies failing to embrace the digital twin mandate risk falling behind (Forbes, 2017). This grow-ing imperative is driven by the increasing significance of data and digital technologies in contemporary business operations.Furthermore, digital twins empower companies to bridge physical assets with digital data, enabling the development of new products and services that are more responsive to customer needs. The maritime industry has already witnessed the applications of digital transformation in automated procedures, op-erational measurement and control, and the creation of digital products and product information models (Erikstad, 2018; 2019). In summary, digital twinning creates substantial business value in shipping by effectively managing the complexities arising from the interdependencies between technical, operational, chartering, safety, and regulatory perspectives, all of which impact ship operators’ performance metrics. Projected benefits, as indicated by RINA (nd), include the potential for a significant reduction in ship operating expendi-tures (up to 40%) and a decrease in port time (up to 30%). Equally important, DT-enhanced shipping companies are expected to handle increased volumes, resulting in higher revenue and profitability, while shipbuilding costs may decrease by 15-20%.
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