Categories: Market Research

(2024-2033) Digital Shipyard Market Size, Share, Trends, Industry Growth Analysis and Forecast | Altair Engineering Inc., BAE Systems PLC, Dassault Systèmes SE, IFS WORLD OPERATIONS AB

Overview and Scope
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.

Sizing and Forecast
The digital shipyard market size has grown exponentially in recent years. It will grow from $1.21 billion in 2023 to $1.45 billion in 2024 at a compound annual growth rate (CAGR) of 20.1%. The growth in the historic period can be attributed to efficiency and cost optimization in shipbuilding, globalization of shipbuilding industry, regulatory compliance and documentation management, rising complexity in ship design and construction, demand for real-time data and information..

The digital shipyard market size is expected to see rapid growth in the next few years. It will grow to $2.96 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%. The growth in the forecast period can be attributed to integration with iot and connectivity solutions, focus on environmental sustainability, collaboration and supply chain integration, rise in demand for ship repair and maintenance, digital twin technology and simulation.. Major trends in the forecast period include artificial intelligence (ai) for predictive analytics, cloud-based collaboration platforms, cybersecurity measures for digital assets, robotic process automation (rpa) for repetitive tasks, sustainable and eco-friendly design practices..

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The digital shipyard market covered in this report is segmented –

1) By Shipyard Type: Commercial, Military
2) By Technology: AR/VR, Digital Twin And Simulation, Addictive Manufacturing, Artificial Intelligence And Big Data Analytics, Robotic Process Automation, Industrial Internet of Things (IIoT), Cybersecurity, Block Chain, Cloud And Master Data Management
3) By Prcoess: Research And Development, Design And Engineering, Manufacturing And Planning, Maintenance And Support
4) By Capacity: Large Shipyard, Medium Shipyard, Small Shipyard
5) By End-Use: Implementation, Upgrades And Services

Asia-Pacific was the largest region in the digital shipyard market in 2023. Asia-Pacific is expected to be the fastest-growing region in the digital shipyard market report during the forecast period. The regions covered in the digital shipyard market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
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. 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.

Key Industry Players
Major companies operating in the digital shipyard market are focusing on launching digital platforms to gain a competitive edge in the market. Digital platforms refer to integrated online systems that leverage advanced technologies for streamlined communication, collaboration, and data management throughout the shipbuilding lifecycle. For instance, in September 2023, Danelec Marine, a Denmark-based manufacturer of marine products company, launched Danelec Connect. Danelec Connect is a digital platform, designed to unlock new vessel and fleet operational efficiencies in the maritime industry. Danelec Connect contains high-quality, high-frequency, and real-time data from sensors and systems on board for decision-making. It provides digital access to actionable insights from diverse data for stakeholders across the maritime industry. Danelec Connect has powerful cloud-based dataspace for storage, analysis, sharing and insight. It gives automatic reporting that provides clear, easy-to-understand visualizations on fuel use and Carbon Intensity Index (CII).

The digital shipyard market report table of contents includes:

1. Executive Summary

2. Digital Shipyard Characteristics

3. Digital Shipyard Trends And Strategies

4. Digital Shipyard – Macro Economic Scenario

5. Global Digital Shipyard Size and Growth

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32. Global Digital Shipyard Competitive Benchmarking

33. Global Digital Shipyard Competitive Dashboard

34. Key Mergers And Acquisitions In The Digital Shipyard

35. Digital Shipyard Future Outlook and Potential Analysis

36. Appendix