Shipbuilding Market : By Product type (Bulkers, Tankers, Containers, Cruise & Ferry, and others), By Application (Passenger transportation and Goods transportation), and Geography  

Shipbuilding Market size was valued at USD 124.5 billion in 2022 and is expected to reach USD 190.7 billion by 2029, at a CAGR of 5.7% over 2023-2029. The key factors driving are rapid industrialization and economic liberalization. During the forecast period, this is one of the main factors responsible for driving the market growth. Flourishing economic activities, such as foreign direct investment, have contributed to an increase in the buying power of consumers. This amplified the market for consumer goods. In exchange, this is expected to fuel the growth of the overall market. However, the rise in seaborne trade is expected to provide enormous growth opportunities, although fluctuations in the price of raw materials are expected to serve as a constraint on business growth. This report studies global shipbuilding market dynamics elaborately to identify the current trends & drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. In addition, the global shipbuilding market report includes human demographics, regulatory scenario, and competition analysis with a vividly illustrated competition dashboard to assess the market competition.

Shipbuilding Market Key Developments:

• In 2020, NSWC Carderock made a fabricated model of the hospital ship USNS Comfort (T-AH 20) using its 3-D printer, first uploading CAD drawings of ship model in it.