Although most manufacturing industries faced severe declines during the recession, the Ship Building industry was able to weather the storm with only slight dips in revenue. Over the past five years, the industry has benefited especially from steady work from government and military clients. The Canadian government's National Shipbuilding Procurement Strategy, a plan to rebuild aging Navy and Coast Guard fleets, has fuelled demand for new ships. Additionally, demand grew due to greater demand from ocean and coastal transportation companies, which require ships for operations. As a result, the industry is expected to experience slow but sustained growth over the next five years.
Companies in the industry build, repair, convert and alter ships in shipyards. Shipyards are fixed facilities with dry docks and fabrication equipment capable of building ships, defined as watercraft suitable or intended for purposes other than personal or recreational use. This does not include boat-building activities.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.