Digital Shipyard Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Digital Shipyard Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Digital Shipyard Market

The digital shipyard market size was valued at USD 963.6 million in 2020, and the market is now projected to grow from USD 1129.6 million in 2021 to USD 3444.5 million by 2028, exhibiting a CAGR of 17.27% during the forecast period of 2021-2028.

The marine Industry was severely affected by the raw material and steel shutdowns because of the COVID-19 pandemic that was experienced in 2020 with the suspension of Ship building activities. Also, the government impacted working methods of different players including shipyards, shipbuilding companies, and tier 2 and tier 3 suppliers. Due to such changes, they termed it as sorted and distorted and resulted to emergence of delayed and loss-making firms across the business sector. That said, the industry should bounce back when the restrictions ease up.

In modern shipyards, IoT, machine learning, and big data keep improving decision-making and the manufacturing processes of ships. Application of Industrial IoT (IIoT) will likely help the shipbuilding industry increase production capacity, decrease downtime, and increase productivity. Therefore, there is an expectation that the market for IIoT in the shipbuilding industry will expand. With this advancement in technology the sector is turning into a more effective and digital oriented segment.

The advance in technology of additive manufacturing or 3D printing has greatly benefited the shipbuilding industry through faster production of 3D models and even the possibility of manufacturing increased size components. The latest generation 3D printers can work with metal, via high velocity particle fusion, opening doors towards creation of solid ship parts. This technology enables the shipyards to print quickly and replace the affected components hence enabling a shorter period of repairs. Industry insiders will appreciate that the implementation of AM in shipyards is inarguably increasing efficiency while reducing time on breaks in maintenance.

Comprehensive Analysis of Digital Shipyard Market

The digital shipyard market growth is also increasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by shipyard type analysis, by technology platform analysis and by digitalization level analysis. By shipyard type analysis incudes commercial and military. By technology platform analysis incudes robotic process automation, additive manufacturing, artificial intelligence and big data analytics, digital twin, blockchain, industrial Internet of Things (IIOT), and other. By digitalization level analysis incudes semi and fully digital shipyards.

The Asia Pacific region lead the digital shipyard market share by benefitting a market size of USD 323.3 million in 2020 due to the region’s rapidly growing maritime and shipbuilding industries.

Top players in the market have their responsibility of aerospace & defence industrial prospectus growth of the retailing industry and the markets. These players include, IFS AB, Pemamek Oy, Dassault Systemes, BAE Systems, Altair Engineering, Inc., AVEVA Group Plc., Wartsila, KUKA AG, Damen Shipyards Group, Prostep AG these market players provide a level-playing competitive landscape.

In June 2021, Drydocks World launched a digital transformation project using IFS Cloud for asset management and resource planning, aiming to enhance operational efficiency and transition to a digital shipyard.

Segmentation Table

ATTRIBUTE

DETAILS

Study Period

2017-2028

Base Year

2020

Estimated Year

2021

Forecast Period

2021-2028

Historical Period

2017-2019

Unit

Value (USD Million)

Segmentation

Shipyard Type, Technology Platform, Digitalization Level and Geography

By Shipyard Type

Commercial

Military

By Technology Platform

Robotic Process Automation

Additive Manufacturing

Artificial Intelligence & Big Data Analytics

Digital Twin

Blockchain

Industrial Internet of Things (IoT)

Others

By Digitalization Level

Semi Digital Shipyard

Fully Digital Shipyard

By Geography

North America (By Shipyard Type, Technology Platform, Digitalization Level, and Country)

• U.S. (By Shipyard Type)
• Canada (By Shipyard Type)
• Mexico (By Shipyard Type)

Europe (By Shipyard Type, Technology Platform, Digitalization Level, and Country)

• U.K. (By Shipyard Type)
• Germany (By Shipyard Type)
• France (By Shipyard Type)
• Russia (By Shipyard Type)
• Rest of Europe (By Shipyard Type)

Asia Pacific (By Shipyard Type, Technology Platform, Digitalization Level, and Country)

• China (By Shipyard Type)
• India (By Shipyard Type)
• Japan (By Shipyard Type)
• South Korea (By Shipyard Type)
• Rest of Asia-Pacific (By Shipyard Type)

Middle East & Africa (By Shipyard Type, Technology Platform, Digitalization Level, and Country)

• The UAE (By Shipyard Type)
• Saudi Arabia (By Shipyard Type)
• Rest of the Middle East & Africa (By Shipyard Type)

South America (By Shipyard Type, Technology Platform, Digitalization Level, and Country)

• Brazil (By Shipyard Type)
• Argentina (By Shipyard Type)
• Rest of the South America (By Shipyard Type)

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