But then again, as Finland has joined Mato, they’ve gotten orders from Germany and Sweden. So we see some good market expansion. And again, if you look at the horsepower range where they have product, it’s pretty much right on top of Twin Disc. These are all customers and markets that we understand, but they have just been so heavily focused on the European market and the Scandinavian market that we feel that there’s a real potential to bring them out into the global market. So all of our guys, whether they are in the Marine business, the industrial business or the transmission business, they are chomping at the bit to get a hold of the Katsa products and introduce them to the global customers.
Will Nasgovitz: Thanks for that elaboration. I guess my final one here is just back to our opening comments, John, on the end you before you hand it off to Jeff, just talking about innovation, electrification, hybrid, et cetera. I’m just wondering if you could just frame for us the opportunity. Obviously, you steeped in know-how and traditional transmission — can you just frame for us any perspective on the opportunity as you continue to take this technology, there’s now how to apply to the hybrid and electrification markets? Thank you.
John Batten: Yes. So Will, there is a huge opportunity and it really is in our space, off-highway, whether it’s marine or construction or RF, it’s putting the package together for the OEM to help them. So we have — if you think about our mechanical product, whether it’s a pump drive or transmission, it’s kind of the heart of hybrid. So it allows for an ICE engine propulsion system, but then also has input for electric motor coming from a battery. And our control system is the brain. And there are a lot of other parts that we put in — put together in the system, the inverter, all sorts of other things, the wiring. But it’s the content, one crane application we would sell a gearbox, let us just say, the $20,000. The hybrid system can be $160,000 to $200,000.
That’s a big multiplier. But again, we are relying on that OEM to be able to sell that hybrid crane for a considerable premium over a traditional crane. We look at some of the marine applications that we are doing. We are quoting systems that are $500,000 to $1 million, depending upon if it’s single or [Twin’s crew] (ph). And just a few years ago, that would have been almost the cost of the entire vessel. So we’re proving to ourselves and our customers that we have the technological solution. Now we’re just waiting for these things to get through testing and seeing how they play out in the market. If the market is willing to spend extra for this type of performance in this type of, I would say, just profile as far as emissions. Now in some cases, in California, they’re mandating that some of these government-funded vessels go completely electric or hybrid.
So we see some wins coming up very quickly. In some of the other markets, whether it is construction or other things, it is a wait and see. They are building the equipment and then seeing how well they are accepted in the market. But just to answer your question, it’s a big — our content can easily can go up from 4 times to 8 times pretty quickly.
Will Nasgovitz: Well, thanks for that elaboration and again congrats on the great quarter and best of luck in your fourth quarter. Thanks so much for the time.
John Batten: Thanks Will.
Operator: That concludes our Q&A session. I will now turn the conference back over to John Batten for closing remarks.
John Batten: Thanks, Alex. Again, we’d like to thank you for participating in our Q3 call and look forward to speaking with you in August for our Q4 and Fiscal Year End ’24 Conference Call. Thank you, everyone.
Operator: Ladies and gentlemen, that concludes today’s call. Thank you all for joining. You may now disconnect.
