A boom in demand helped the Ship Building industry rapidly expand over the past five years. Industry players build, modify, convert and repair ships including warships, icebreakers, ferries and offshore platforms. In order to rebuild its navy and coast guard, the federal government launched the National Shipbuilding Procurement Strategy (NSPS) in 2010. As a result, over the past five years, industry operators began to invest into existing and new facilities in order to cope with incoming orders. In the five years to 2021, as NSPS-related ship construction ramps up, the industry will experience a surge in production. As a result, operators will expand facilities and hire more workers, with industry employment anticipated to climb.
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.