Digital Shipyard Global Market Report 2023

Major players in the digital shipyard market are Altair Engineering Inc., BAE Systems plc, Dassault Systérnes SE, IFS AB, Accenture plc, Aras Corporation, Bureau Veritas, Cadmatic Oy, Damen Shipyards Group, Hexagon AB, iBASEt, Inmarsat Global Limited, Kranendonk Production Systems BV, KUKA AG, and Navantia.

New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Digital Shipyard Global Market Report 2023" - https://www.reportlinker.com/p06464181/?utm_source=GNWThe global digital shipyard market is expected to grow from $1 billion in 2022 to $1.20 billion in 2023 at a compound annual growth rate (CAGR) of 20.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The digital shipyard market is expected to reach $2.44 billion in 2027 at a CAGR of 19.4%.

The digital shipyard market includes revenues earned by entities by providing 3D printing shipyards, smart shipyards, and cloud-based shipyards.The market value includes the value of related goods sold by the service provider or included within the service offering.

Only goods and services traded between entities or sold to end consumers are included.

A digital shipyard refers to the use of advanced digital technologies such as artificial intelligence, automation, and big data analytics in the design, construction, and maintenance of ships. Digital Shipyard helps to the design phase of a project for ocean-going ships and submarines as physical design models and mock-ups are costly and time-consuming.

Asia-Pacific was the largest region in the digital shipyard market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of shipment of digital shipyards include commercial and military.Commercial shipyards are facilities developed especially for building, repairing, and maintaining commercial ships.

The technologies used in the digital shipyards include AR/VR, digital twin and simulation, additive manufacturing, artificial intelligence and big data analytics, robotic process automation, industrial internet of things (IIoT), cybersecurity, blockchain, cloud and master data management. These are used in the various process including research and development, design and engineering, manufacturing and planning, maintenance and support and has various capacities include large shipyard, medium shipyard and small shipyard for use in end-users including implementation and upgrades and services.

The expansion in worldwide trade and tourism activities via ships is expected to increase the growth of the digital shipyard market going forward.The demand for effective and affordable shipbuilding and maintenance solutions is growing as international trade and human migration rise.

A number of advantages, such as shortened production times, enhanced quality assurance, and increased effectiveness, are offered by the digital shipyard industry. For instance, in January 2023, according to a report published by United Nations Conference on Trade and Development (UNCTD), a Switzerland-based organization responsible for the development, including trade, aid, finance transport, and technology, shipments increased by an expected 3.2% in 2021, totaling 11 billion tonnes. Compared to the 3.8% decline in 2020, this indicates a 7-point improvement. All developing areas experienced growth. Asia, which continued to be the world’s top maritime cargo handling hub, accounted for 42% of products loaded and 64% of those unloaded in 2021, while it grew by an estimated 5.6% in Africa, 3% in Latin America, and the Caribbean, and 3% in Asia. Therefore, the expansion in worldwide trade and tourism activities is driving the growth of the digital shipyard market.

Technological advancements are a key trend gaining popularity in the digital shipyard market.Major companies operating in the digital shipyard market are adopting new technologies to sustain their position in the market.

For instance, In March 2022, Seaspan ULC, a Canada-based provider of marine-related services, launched its new HoloShip facility, an immersive visualization system that allows Seaspan and the Canadian marine industry community access to a virtual reality environment to develop, integrate, test and demonstrate new digital twin capabilities and change how ships are built, constructed, and maintained. With Seaspan’s HoloShip, designers, engineers, production teams, and customers can practically experience a highly accurate, completely detailed, three-dimensional digital model of the ship on a 5.6-meter-wide display wall. Participants are transported onto the ship using 3D and virtual reality headsets, and they can move around to view and engage with the area as well as with the equipment, components, systems, and subsystems. The HoloShip can also be accessed remotely by participants using a networked device.

In July 2021, Siemens, a US-based software company acquired FORAN software business from Sener for an undisclosed amount.Through this acquisition, Siemen strengthens its position in ship design and engineering digital thread solutions.

Sener is a Spain-based engineering company operating in the digital shipyard market.

The countries covered in the digital shipyard market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the chain or as part of other products.

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