Global Digital Shipyard Market

Digital Shipyard Market Size, Share, Growth Analysis, By Shipyard Type (Commercial Shipyards, Military Shipyards), By Technology (Augmented & Virtual Reality, By Capacity, By Process, By Digitalization Level, By End Use, By Region - Industry Forecast 2025-2032

Report ID: SQMIG20Y2006 | Region: Global | Published Date: November, 2024
Pages: 242 | Tables: 120 | Figures: 77

Digital Shipyard Market Insights

Digital Shipyard Market size was valued at USD 1.55 Billion in 2023 and is poised to grow from USD 1.85 Billion in 2024 to USD 7.47 Billion by 2032, growing at a CAGR of 19.1% during the forecast period (2025-2032).

The increase in process automation is contributing significantly to the growth of the worldwide digital shipyard industry. Technology is used in digital shipyards to automate and digitalize shipyard operations. For efficient operation, ship builders rely on digital technologies. Enterprise resource planning (ERP), manufacturing execution systems (MES), computer-aided design (CAD), and product lifecycle management (PLM) are among the software and technological services offered by Digital Shipyard. Moreover, by coordinating the information across the entire supply chain, digital shipyards provide affordable & efficient solutions for design & construction. Additionally, shipyard automation and digitalization allow for real-time team cooperation on shipbuilding projects, which is projected to propel the growth of the global digital shipyard market.

US Digital Shipyard Market is poised to grow at a sustainable CAGR for the next forecast year.

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FAQs

Global Digital Shipyard Market size was valued at USD 1.30 billion in 2022 and is poised to grow from USD 1.55 billion in 2023 to USD 6.27 billion by 2031, growing at a CAGR of 19.1% during the forecast period (2024-2031). 

The market players are focusing on automating the manufacturing process. Several businesses are making efforts to incorporate digitization in the shipbuilding industry. Investments in modernizing capacities have increased in order to boost productivity and cut costs. The development of a new SAP cloud utility solution, which will help shipbuilding companies manage customer experiences and business operations effectively, is being done in partnership with players like SAP and Accenture. Market participants are investing in research and development to create cutting-edge robotic technology based on AI, IoT, and augmented reality (AR). 'Siemens (Germany) ', 'Dassault Systèmes (France) ', 'Accenture (Ireland) ', 'SAP (Germany) ', 'BAE Systems (UK) ', 'AVEVA Group PLC (UK) ', 'Hexagon (Sweden) ', 'Altair Engineering, Inc. (US) ', 'Wärtsilä (Finland) ', 'Inmarsat (UK) ', 'KUKA AG (Germany) ', 'IFS AB (Sweden) ', 'Pemamek Ltd. (Finland) ', 'Aras (US) ', 'Kreyon Systems (India) ', 'SSI (US) ', 'iBASEt (US) ', 'PROSTEP AG (Germany) ', 'Kranendonk Smart Robotics (Netherlands) ', 'Damen Shipyards Group (Netherlands) '

The digital shipyard uses the IIoT to enhance its decision-making capabilities and manufacturing processes by fusing the IoT's communication capabilities with machine learning and big data. Due to the growing adoption of IIoT in the shipbuilding sector to increase output, reduce downtime, and enhance operational efficiency, the market is predicted to grow significantly over the forecast period.

The rising demand for additive manufacturing: The 3D digital model can be printed using additive manufacturing, often known as 3D printing, in a very short amount of time. Recent advancements in 3D printer technology have enabled the fabrication of larger components as well. There are now more materials available for 3D printing than only plastic. Advanced printer systems can also manufacture metal parts utilizing a high-velocity particle fusion process. The use of additive manufacturing in shipyards helps speed up system repairs because broken parts can be printed out and replaced. This is expected to positively affect the digital shipyard market.

Based on the region, Asia Pacific is anticipated to have the biggest market share and grow at a higher compound annual growth rate, during the forecast period. The region's prominence in the digital shipbuilding industry is attributable to significant shipbuilders such as Daewoo Shipbuilding, Marine Engineering, and China Shipbuilding Industry Corporation, among others.

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Global Digital Shipyard Market

Report ID: SQMIG20Y2006

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