Ship Building in the US
Over the five years to 2018, the Ship Building industry, made up of operators that design, build and repair ships and other vessels for both the defense and commercial sectors, encountered rough seas as demand sank. The industry maintained some stability as long project lead times for ships and consistent demand for military ships from the US Navy kept shipyards busy. Rising US oil and gas production has increased demand for tankers, offshore platforms, drilling ships and other vessels needed for domestic operations, all of which must be built at shipyards in the United States. However, the dramatic fall in oil prices between 2014 and 2016 led to declines in related investment, decreased commercial demand overall. In turn, industry revenue declined over the five years to 2018. Over the five years to 2023, industry revenue is forecast to grow.
Shipbuilders operate shipyards, which are fixed facilities with dry docks and fabrication equipment capable of building a ship. A ship is defined as watercraft typically suitable or intended for use other than for personal or recreational purposes. Shipyard activities include ship construction, repair, conversion and alteration; the production of prefabricated ship and barge sections; and specialized services, such as ship scaling.
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.