Robotics is being used in the shipbuilding industry to lift heavy metal parts and provide automated services such as welding, blasting, painting, and other related tasks in shipyards. Usage of robotics also leads to increased efficiency and reduced accidents. In South Korea’s Geoje shipyard which launched 30 ships a year, 68% of its production processes were carried out by robotic systems.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL SHIP BUILDING AND REPAIRING MARKET AT $250+ BILLION IN 2021
Asia Pacific was the largest region in the ship and boat building and repairing market in 2017, accounting for more than half of the market share. This was mainly due to technologically advanced infrastructure in this region to facilitate exports and imports, low-cost communications and access to potential new customers and many shipbuilding companies in countries such as China, South Korea and India.
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The chart below shows the year-on-year growth of the global ship building and repairing market during 2017 – 2021.
According to The Business Research Company’s Consultant, Nitin Gianchandani, Shipbuilding process was sequential with outfitting of components only after the ship hull was launched, whereas, advanced outfitting is the fitting of machinery, seating structures, piping, electrical and hull outfit items before the hull structure is fabricated and erected on the birth or dock. This leads to reduced overhead work, better utilization of man-hours and improved productivity. Advanced outfitting is of two types: block outfitting and zone outfitting. Major players in this industry are DSME, HHI, Samsung Heavy Industries and Mitsubishi Heavy Industries.
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Hyundai Heavy Industries was the largest player in the ship and boat building and repairing market in 2017, with revenues of $11 billion in 2016. Hyundai Heavy’s growth strategy aims at concentrating on its core business and lower the debt-to-equity ratio. In 2016, the company separated its non-shipbuilding divisions into independent companies. It separated its Green Energy Division, Integrated AS unit, Hyundai Electric & Energy Systems, Hyundai Construction Equipment, and Hyundai Robotic divisions and decreased the debt-to-equity ratio to below 100% by transferring the existing debt of HHI to separate companies on a pro rata basis.
The ship building and repairing market is segmented into Military Ship Building And Repairing; Commercial Ship Building Repairing.
Military Ship Building And Repairing establishments operate a defence shipyard. They build barges, war ships and submarines that used for military purposes. They also provide ship dismantling, repairing and scaling services. This segment includes Naval Vessels Manufacturing, Warships Manufacturing, Military Ships Establishments.
– Naval Vessels Manufacturing establishments manufacture war ships, airline carriers and submarines that used for naval operations.
– Warships Manufacturing establishments manufacture war ships and related equipment that used during a war operation.
– Military Ships Establishments operating in a defence shipyard that provide ship dismantling, repairing and scaling services are part of this industry.
Ship Building And Repairing establishments operate a shipyard. They build barges, cargo ships, submarines, passenger ships and cruise liners, container ships and large fishing boats for commercial purposes. They also provide ship dismantling, repairing and scaling services.
Ship Building And Repairing Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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