A study on Digital Shipyard Market has been conducted to understand its landscape in 2022.
Survey period: November 15-23, 2022
Survey coverage: We conducted a survey of 545 market players of all sizes. Number of valid answers: 545
Survey method: 214 field surveys, 331 internet surveys
Survey Respondents: The survey was conducted among companies based on revenue. Survey results:
Q: What is the size of the digital shipyard market and what are the market growth prospects?
The global digital shipyard market will generate over US$1 billion in revenue in 2022. The market is expected to exceed USD 7.5 billion by the end of 2035, growing at a CAGR of around 18.5%. The growth of the global digital shipyard market is attributed to the increasing adoption of Industry 4.0 capabilities by major shipyards in the commercial and defense sectors. Technologies such as robotics, digital twin technology, AI/ML, AR/VR, IIoT, and blockchain help ship construction and maintenance operations.
Q: What are the benefits associated with a digital shipyard? Industry 4.0 technologies improve ship safety, reliability and design efficiency.
Using AR/VR technology in conjunction with AI and ML in a digital shipyard will minimize operational downtime.
Having a smart and connected shipyard can reduce maintenance costs with the help of predictive maintenance.
3D scanning, printing and modeling help speed up the design and repair process. A digital shipyard saves a lot of energy consumption.
Using digital shipyard technology, shipyards can create virtual models of ships and submarines. These are used to test, modify and improve designs before physical production begins. This saves energy and resources.
Q: What drives the growing demand for digital shipyards?
IIoT and other emerging technologies are contributing to the development of the digital shipyard. With the help of IIoT,
manufacturers can improve production, predict demand more accurately, and reduce waste. According to the latest available data, there are currently over 13 billion connected IoT devices.
The number of international trade merchant ships has increased to over 52,000 ships. Freight traffic by ship has increased to over 10 billion tons in 2020. This is expected to increase the demand for digital shipyards.
Robotic process automation (RPA) is critical in digital shipyards. This is to free humans from monotonous tasks and allow them to focus on more useful tasks. Research shows that more than 80% of companies are investing in robotic process automation technology to meet their financial goals.
Digital twin technology utilizes technologies such as cloud computing and IoT to link the physical and virtual environments of a product. This allows us to identify corrective actions and recommend preventive actions.
International governments and regulatory bodies are enforcing guidelines to curb carbon emissions in the shipping industry. Digitizing shipyards is a big step towards net zero carbon emissions. [Image 2
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Question: What are the challenges limiting the growth of the digital shipyard market?
The large initial capital investment required to set up a digital shipyard may restrain the growth of this market. Moreover, high cost of advanced software, and high maintenance costs may restrain the market growth.
Question: How is the digital shipyard market segmented?
The digital shipyard market is segmented based on shipyard type, capacity, and technology. This is as follows −
1. Shipyard Type – Commercial and Military Shipyards
Commercial shipyards provide the backbone of global trade and are an integral part of most industries’ supply chains. It is calculated that about 82% of goods are transported by ship.
2. Capacity – Small Shipyards, Medium Shipyards, Large Shipyards The medium-sized shipyard sector (including ferries, passenger ships, cruise ships and naval vessels) is expected to grow in volume by the end of 2035.
3. Technology – artificial intelligence and big data analytics, robotics process automation, internet of things, blockchain, additive manufacturing, digital twin technology, augmented and virtual reality Robotic process automation for digital shipyards improves employee satisfaction, engagement and productivity by eliminating repetitive tasks. The use of robots has been reported to increase productivity by 6% and reduce working hours by 5%.
Q: Which companies are leading the digital shipyard business? IFS World Operations AB (IFS), IBM Corporation, Accenture PLC, AVEVA Group Plc, Pemamek Oy, Dassault Systemes SAS, Siemens AG, Wartsila Corporation, Inmarsat Global Limited, PROSTEP INC and Damen Shipyards Group are key players in the digital shipyard market. is part of Q: What are the recent developments in the field of digital shipyards? Dassault Systemes has announced a partnership with Samsung Heavy Industries to create a “smart yard” based on the latest digital transformation technologies. Fully digital shipyards are expected to automate the flow of information needed to design and produce liquefied natural gas carriers and deliver them on time.
Adelaide’s Osborne Naval Shipyard is rapidly building an
anti-submarine warfare frigate (ASWF) for the Royal Australian Navy. It is Australia’s largest manufacturing project and is being carried out by BAE Systems. They are building a fully digital shipyard that can keep Australia safe.
Q: Which regions are expected to offer lucrative growth opportunities in the digital shipyard market?
Asia Pacific is projected to grow fastest in the digital shipyard business by the end of 2035. This is because the region continues to dominate the global maritime trade sector. In 2019, the region accounted for over 40% of goods loaded and about 60% of goods unloaded. The Asia-Pacific region accounts for over 52% of the world’s seaborne trade volume.
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