Digital Shipyard Market

Market Definition

The global Digital Shipyard Market size was valued at USD 2.07 billion in 2023 and is predicted to reach USD 6.99 billion by 2030 with a CAGR of 18.9% from 2024 to 2030. A digital shipyard refers to a virtual environment where shipbuilding and ship repair processes are planned, managed, and implemented using digital technologies, such as 3D modelling, computer-aided design, and artificial intelligence.

It is used to optimize the shipbuilding process and improve overall efficiency, cost, and quality. Digital shipyards are slowly replacing traditional shipbuilding methods and processes, which are labour intensive and time-consuming. They often employ advanced analytics and predictive maintenance to increase the lifespan of their vessels.

Market Dynamics and Trends

Growth of the digital shipyard market is driven by rise in advancements in digital technologies such as Artificial Intelligence (AI) and Internet of Things (IoT), which are being implemented in the design and development of vessels. In addition, growth in focus of the maritime industry on enhancing operational efficiency and reducing costs further propels growth of the global market.

Furthermore, rise in adoption of modern shipbuilding technologies such as 3D printing and robotic process automation (RPA) also fuels the digital shipyard market growth. For instance, in March 2020, Wärtsilä developed the world’s first 3D printed CE-certified lifting tool using their ‘Markforged’ printer. The tool helps with the maintenance of engines on site and can lift around 960 kg weight.

However, high cost of initial investments, along with lack of technical expertise and data privacy concerns restrain growth of the digital shipyard market. On the other hand, introduction of augmented reality (AR) and cloud computing in digital shipyards is expected to create ample growth opportunities for the market in the future. 

Market Segmentation and Scope of Study

The global digital shipyard market report is segmented on the basis of type, technology, capacity, digitalization level, end user, and geography. By type, the market is classified into military shipyards and commercial shipyards. By technology, it is segmented into artificial intelligence & big data analytics, robotic process automation, AR & VR, and others. On the basis of capacity, it is categorized into small shipyards, medium shipyards, and large shipyards. On the basis of digitalization level, it is divided into semi-digital shipyard and fully-digital shipyard. On the basis of end user, the market is segmented into implementation and upgrades & services. Geographical breakdown and analysis of each of the aforesaid classifications include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America dominates the global digital shipyard market share and is potently expected to remain dominant in throughout the forecast period. This is attributed to rise in demand for efficient and cost-effective operations. Rise in number of ports, harbors, and shipyards has led to need for reduction in costs and increase in productivity by deploying digital solutions such as automation, robotics, artificial intelligence, and big data analytics.

This is expected to drive the market for digital shipyards in North America. In addition, growth of the maritime industry in North America, along with rise in demand for cost-effective and safer ships, propels the market growth. For instance, in the first quarter of 2021, exports from the U.S. to Latin America increased by 3.5%, indicating a surge in trade between the two regions.

On the other hand, Asia- Pacific shows a substantial growth in the digital shipyard market, owing to rise in demand for advanced shipbuilding technologies, increase in maritime trade, and rise in investments in port and shipyard infrastructure. Moreover, increase in government initiatives to promote digital technologies in maritime and shipbuilding industries further propel the market growth.

For instance, in November 2022, Det Norske Veritas (DNV) and Singapore’s Maritime and Port Authority (MPA) signed a memorandum of understanding (MOU) for renewal of their cooperation on maritime decarbonization and digital innovation. This MoU is aimed to focus on decarbonization, digitalization, and talent development for sustainable and smart maritime ecosystems.

Competitive Landscape

The digital shipyard industry includes several market players such as IFS AB, Pemamek Oy, Dassault Systemes, BAE Systems, Altair Engineering, Inc., AVEVA Group Plc., Wartsila, KUKA AG, Damen Shipyards Group, and Prostep AG. These market players are adopting various strategies such as innovation and collaboration to maintain their dominance in the global market.

For instance, in June 2022, BAE Systems collaborated with Dematec Automation to build a digital platform capability demonstrator that connects robots, welding machines, hardware subsystems, devices, and sensors across typical shipyard workflows. 

In addition, in February 2021, Damen Shipyard Group collaborated with Sea Machines Robotics to further investigate adoption of collision avoidance functionality on board of Damen ships. This collaboration supports Damen strategy of digitalization, increased sustainability, and operational excellence. 

Moreover, in October 2020, Wartsila developed a lifting tool made of carbon fiber using a 3D printing process to be used as a custom piece of hardware so that cargo ships can move heavy engine parts. 

Key Benefits

• The report provides quantitative analysis and estimations of the digital shipyard market from 2024 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep dive analysis of the digital shipyard market including the current and future trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on the digital shipyard market is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Digital Shipyard Market Key Segments

By Type 

• Military Shipyards 

• Commercial Shipyards

By Technology 

• Artificial Intelligence & Big Data Analytics 

• Robotic Process Automation

• AR & VR

• Others

By Capacity 

• Small Shipyards

• Medium Shipyards

• Large Shipyards

By Digitalization Level 

• Semi-digital Shipyard 

• Fully-digital Shipyard

By End User 

• Implementation 

• Upgrades & Services

By Geography

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe    

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

Report Scope and Segmentation:

Parameters	Details
Market Size in 2023	USD 2.07 Billion
Revenue Forecast in 2030	USD 6.99 Billion
Growth Rate	CAGR of 18.9% from 2024 to 2030
Analysis Period	2023–2030
Base Year Considered	2023
Forecast Period	2024–2030
Market Size Estimation	Billion (USD)
Growth Factors	Rise in advancements in digital technologies such as artificial intelligence (AI) and Internet of Things (IoT). Growing focus of the maritime industry on enhancing operational efficiency and reducing costs.
Countries Covered	28
Companies Profiled	10
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.

Key Players

• IFS AB

• Pemamek Oy

• Dassault Systemes 

• BAE Systems 

• Altair Engineering, Inc. 

• AVEVA Group Plc. 

• Wartsila 

• KUKA AG 

• Damen Shipyards Group 

• Prostep AG