DUBLIN, Aug. 26, 2022 /PRNewswire/ — The “Global Digital Shipyard Market by Shipyard Type (Commercial, Military), Capacity (Large, Medium, Small), Process, Technology, End Use (Implementation, Upgrades & Services), Digitalization Level and Region – Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The Digital Shipyard Market is projected to grow from USD 1.3 billion in 2022 to USD 5.5 billion by 2030, at a CAGR of 19.1%
The digital shipyard vision involves the establishment of smart infrastructure designed to create a smart product and a delivery model that provides ongoing operational support and support services to customers.
Product lifecycle management (PLM), digital twins, and 3D modeling functionalities in shipbuilding enable 360 degrees of integration of the product (production and design processes), enabling the complete and continuous inspection of the product and parts from the design phase through to when the product is decommissioned.
Many players are currently investing in advancements in manufacturing processes to cater to the demand for high-quality systems. Increasing investments in R&D to develop lightweight components are also leading to technological advancements. A rise in demand for increased efficiency and improved resiliency are expected to fuel the market for Digital Shipyard, leading to new revenue opportunities for players in the market.
Commercial Shipyard segment to witness highest growth in the forecast period
By Shipyard Type, the commercial shipyard segment is expected to growth the highest in the forecast period. Commercial shipyards have started to vertically integrate, undertaking tasks needed to build ships from new materials. These shipyards accommodate large passenger ships, large cargo ships, cruises, ferries, workboats, etc.
The demand for commercial shipyards has increased in the global marketplace due to its driving factors such as the high volume of business that depends on simple forming & welding processes, comparatively lesser engineering support, and simpler acquisition process.
Large shipyards to witness large market share in 2022
Based on Capacity, the Large shipyard are witnessing largest market share in 2022. Large shipyards are comparatively specialized in high-value-added niche markets and corresponding production processes. With the help of various solutions, these shipyards optimize their business model by outsourcing or sharing certain tasks or complete business processes, which increases the market availability for various small and medium-sized shipyards, software & solution providers, and system integrators, etc.
Competitive landscape
Major players operating in the digital shipyard market include Siemens (Germany), Dassault Systemes (France), Accenture (Ireland), SAP (Germany), BAE Systems (UK)among others. These key players offer digital shipyard solutions and services to different key stakeholders.
Premium Insights
- Increasing Need for Advanced Manufacturing Solutions in Shipbuilding Expected to Drive Market from 2022 to 2030
- Implementation Segment to Lead Market from 2022 to 2030
- Large Shipyard Segment Projected to Have Highest CAGR During Forecast Period
- Digital Shipyard Market in UK Projected to Register Highest CAGR from 2022 to 2030
Market Dynamics
Drivers
- Product Lifecycle Management (Plm) Solutions
- Cloud-Based Maintenance Systems
- New Manufacturing Technologies in Shipbuilding
Restraints
- Increased Vulnerability to Cyber Threats
Opportunities
- Digital Twin in Shipbuilding Industry
- Augmented Reality in Shipbuilding
Challenges
- High Acquisition Costs of Digital Shipyard Software Solutions
Operational Data
Pricing Analysis
Value Chain
Digital Shipyard Market Ecosystem