Digital Shipyard Market Research Report - Global Forecast till 2030

Digital Shipyard Market Research Report: Information by Process (Research & Development, Design & Engineering, Manufacturing & Planning, Maintenance & Support and Training & Simulation), Shipyard Type (Commercial Shipyards and Military Shipyards), Capacity (Small Shipyards, Medium Shipyards and Large Shipyards), Digitalization Level (Fully Digital Shipyard, Semi Digital Shipyard and Partially Digital Shipyard), Technology (Augmented & Virtual Reality (AR & VR), Industrial Internet of Things (IIoT), Cybersecurity, Blockchain and Cloud Comput

ID: MRFR/A&D/8154-HCR | February 2023 | Region: Global | 168 Pages         

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Digital Shipyard Market

Global Digital Shipyard Market is projected to reach USD 4,768.33 Million by 2030 and register a CAGR of 20.2%.

Segmentation
By Process Research & Development Design & Engineering Manufacturing & Planning Maintenance & Support Training & Simulation
By Shipyard Type Commercial Shipyards Military Shipyards
By Capacity Small Shipyards Medium Shipyards Large Shipyards
By Digitalization Level Fully Digital Shipyard Semi Digital Shipyard Partially Digital Shipyard
By Technology Augmented & Virtual Reality (AR & VR) Digital Twin & Simulation Additive Manufacturing Artificial Intelligence & Big Data Analytics Robotic Process Automation Industrial Internet of Things (IIoT) Cybersecurity Blockchain Cloud Computing & Master Data Management
Key Players
Companies Profiled   Siemens (Germany)    Dassault Systèmes (France)    AVEVA Group plc (UK)    Accenture (Ireland)    SAP SE (Germany)    BAE Systems (UK)    HexagonAB (Sweden)    Altair Engineering    Inc. (US)    Wärtsilä (Finland)    IBM Corporation
Drivers
Market Driving Forces   The rise in adoption of the digital twin in the shipbuilding industry    The rise in international seaborne trade    Increasing procurement of advanced vessels by navies across the world
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Digital Shipyard Market Scenario


Digital Shipyard Market is projected to reach USD 4,768.33 Million by 2030 and register a CAGR of 20.2%. The entire concept of digital shipyard aims to address operational efficiency and effectivity, to make the marine industry safer, faster, and smarter. This has a dramatic impact on the cost and schedule and therefore is easy to define tangible benefit to shipyard operations during design, building, and service.


Market Synopsis


The Global Digital Shipyard Market is expected to register significant growth during the forecast period owing to factors such as increasing international seaborne trade. Furthermore, the increasing procurement of advanced vessels by navies across the globe is also expected to drive the growth of the market. Additionally, increasing investment made by the shipyard companies in the digital shipyard market is also expected to drive the growth of the market. For example, in February 2020, Bremen-based Fr. Lürssen shipyard, the Machine Tool Laboratory (WZL) at RWTH Aachen University, and PROSTEP AG launched the ProProS research project. The project aims to research about the use of digital twin technology for manufacturing and assembly processes at shipyards and to use it for status control and optimization of shipbuilding production.


However, issues related to increased vulnerability to cyber threats and the high cost of acquisition of digital shipyard software solutions might hamper the growth of the market.


Market USP


Technology advancements in the marine industry and increasing investment in connected and autonomous ships are expected to drive the growth of the market.


Market Drivers



  • The rise in adoption of the digital twin in the shipbuilding industry: The growing demand for real-time information regarding ship maintenance and development is expected to drive the growth of the market.



  • The rise in international seaborne trade



  • Increasing procurement of advanced vessels by navies across the world


Market Restraints



  • Issues related to cyber threats

  • The high cost of acquisition


Segmentation


By Process



  • Research & Development: The segment dominated the market in 2019. Increasing R&D activities in the digital shipyard market are expected to drive the growth of the segment.



  • Design & Engineering: The increasing demand for sophisticated engineering solutions in shipyards is expected to drive the growth of the segment.



  • Manufacturing & Planning: The increasing use of advanced manufacturing technologies and PLM solutions in shipbuilding is expected to drive the growth of the segment. Hence, the segment is expected to register the highest CAGR during the forecast period.



  • Maintenance & Support: The increasing use of advanced technologies in the maintenance of shipyards and high cost associated with the development of new shipyards are expected to drive the growth of the segment.



  • Training & Simulation: The increasing demand for training and simulation programs for the skilled workforce in the shipbuilding industry is expected to drive the growth of the segment.


By Shipyard Type



  • Commercial Shipyards: The segment dominated the market in 2019 and is expected to register a higher CAGR during the review period. Increasing maritime trade and tourism across the globe are expected to drive the growth of the segment.



  • Military Shipyards: The segment is expected to grow owing to the increasing procurement of advanced vessels by various navies across the world and rising military expenditure of countries such as China and India.


By Capacity



  • Small Shipyards: The small shipyards segment is projected to exhibit the highest CAGR during the forecast period owing to the increasing modernization plans of small-sized shipyards.



  • Medium Shipyards: Increasing adoption of smart solutions in the marine industry is expected to drive the growth of the segment.



  • Large Shipyards: The segment dominated the market in 2019 owing to the increasing demand for upgradation and procurement plans by navies of countries such as the US and the UK.


By Digitalization Level



  • Fully Digital Shipyard: The fully digital shipyard segment dominated the market in 2019 and is projected to register the highest CAGR during the forecast period owing to the increasing procurement of advanced vessels by the navies of countries such as China, India, and the US.



  • Semi Digital Shipyard: The segment is expected to exhibit a significant growth rate during the forecast period due to increasing modernization plans of shipyards.



  • Partially Digital Shipyard: The increasing development of connected ships and autonomous ships that support digital technologies is expected to drive the growth of the segment.


By Technology



  • Augmented & Virtual Reality (AR & VR): The segment is expected to register a significant growth rate during the forecast period owing to the increasing use of AR & VR devices for various processes in shipbuilding.



  • Digital Twin & Simulation: The segment is expected to grow owing to the increasing use of digital twin technology for the modernization of shipyards.



  • Additive Manufacturing: Increasing use of 3D printing technology for manufacturing ship components is expected to drive the growth of the segment.



  • Artificial Intelligence & Big Data Analytics: Increasing international maritime trade is driving the demand for high-end technologies to achieve digitalization in shipyards.



  • Robotic Process Automation: Increasing demand for sophisticated and time-saving solutions in shipyard processes is expected to drive the growth of the segment. Hence, the segment is expected to register the highest CAGR during the forecast period.



  • Industrial Internet of Things (IIoT): The segment is expected to grow due to the technological advancements in shipbuilding.



  • Cybersecurity: The segment is expected to grow due to the increasing need to combat rising cybersecurity threats.



  • Blockchain: The segment is expected to grow owing to the increasing demand for connectivity and security across the shipping industry.



  • Cloud Computing & Master Data Management: The segment is expected to grow due to the increasing adoption of cloud-based maintenance systems across the shipping industry.


By Region



  • North America: North America dominated the market in 2019 due to the presence of companies such as Altair Engineering, Inc. and IBM Corporation.



  • Europe: The increasing marine tourism in the region and the increasing development of autonomous and connected ships by key marine companies based in the region are expected to drive the market growth in the region.



  • Asia-Pacific: The market in this region is projected to register the highest CAGR during the forecast period. The growing seaborne trade in the region is expected to drive the market growth in the region.



  • Middle East: Development of new ports in the Middle East are expected to drive the market growth in the region.



  • Rest of the World: Extreme threats to cybersecurity in countries such as Mexico, South Africa, and Brazil are expected to drive the market growth in the region.


Key Players



  • Siemens (Germany)

  • Dassault Systèmes (France)

  • AVEVA Group plc (UK)

  • Accenture (Ireland)

  • SAP SE (Germany)

  • BAE Systems (UK)

  • HexagonAB (Sweden)

  • Altair Engineering, Inc. (US)

  • Wärtsilä (Finland)

  • IBM Corporation


Other Prominent Players



  • Inmarsat Plc (UK)

  • IFS AB (Sweden)

  • Pemamek Ltd (Finland)

  • Aras Corporation (US)

  • Kreyon Systems Pvt. Ltd (India)

  • KUKA AG (Germany)

  • iBASEt (US)

  • PROSTEP (Germany)

  • KRANENDONK Smart robotics (Netherlands)

  • Damen Shipyards Group (Netherlands)

  • Navantia (Spain)



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 4,768.33 Million (2030)
  CAGR   20.2% (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Process, Shipyard Type, Capacity, Technology
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Siemens (Germany), Dassault Systèmes (France), AVEVA Group plc (UK), Accenture (Ireland), SAP SE (Germany), BAE Systems (UK), HexagonAB (Sweden), Altair Engineering, Inc. (US), Wärtsilä (Finland), IBM Corporation
  Key Market Opportunities   Technology advancements in the marine industry
  Key Market Drivers

  • The rise in adoption of the digital twin in the shipbuilding industry.
  • The rise in international seaborne trade.
  • Increasing procurement of advanced vessels by navies across the world


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    Frequently Asked Questions (FAQ) :

    The upsurge in the procurement of progressive vessels is predicted to spur the worldwide market.

    Accenture (Ireland), SAP SE (Germany), BAE Systems (UK), Dassault Systèmes (France), AVEVA Group plc (UK), HexagonAB (Sweden), and Altair Engineering, Inc. (US) are the key leaders in the market.

    The market of the North American region is estimated to sour the market in the years ahead.

    An optimistic CAGR of 20.2% is predicted to motivate the global market in the approaching period.

    The revenue of USD 4,768.33 million by 2030 is estimated to guide the market in the near future.