Ship Building in Canada
The Ship Building industry in Canada has rapidly expanded over the five years to 2019. Industry operators build, modify, convert and repair ships, including warships, icebreakers, ferries and offshore platforms. Prior to the current period, this industry was troubled, competing with foreign builders while dealing with inconsistent domestic demand. In an effort to rebuild its navy and coast guard, the federal government launched the National Shipbuilding Procurement Strategy (NSPS) in 2010, which effectively solved this problem. The industry was able to begin its expansion since most of these projects will take more than a decade. Over the five years to 2024, industry revenue is forecast to rise. As NSPS-related ship construction ramps up, the industry will increase production.
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.