Digital Shipyard Market by Shipyard Type (Military and Commercial), Technology (Digital Twin, 3D Printing, AR VR, Blockchain, IIoT, and Robotic Process Automation), Digitization Level (Fully Digital Shipyard, and Semi Digital Shipyard): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026889 | Pages: 100 | Industry: Technology, Media and Telecommunications | Date: Oct 2022 | Type: Global

The market crossed US$ 1.12 billion mark in 2022 and is expected to hit US$ 4.08 billion by 2030, recording a CAGR of 17.6% during the forecast period.

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Digital Shipyard Market has been significantly growing with the high adoption of advanced technologies.

Growing sea trade and more navies buying cutting-edge vessels are two of the key drivers propelling the growth of the digital shipyard market. In addition, it is projected that incorporating sophisticated technologies, including digital twin, AR, & virtual reality, to improve the shipyard's performance would offer a wealth of development prospects to the players operating in the digital shipyard market. Further, the IIoT technology segment is expected to grow with the rising adoption of IIoT with big data and ML to enhance manufacturing processes and transform the decision-making processes across the industry.

Within the report, the market is segmented into shipyard type, technology, capacity, digitization level, and geography. By shipyard type, the market is further segmented into military and commercial. Based on technology, the market is segmented into digital twin, 3D printing, AR VR, Blockchain, IIoT, and Robotic Process Automation. Based on the digitization level, the market is divided into fully digital shipyards and semi-digital shipyards. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Digital shipyard market is anticipated to exhibit growth with its rising adoption of ships and submarines maintenance:

Digital shipyard refers to the use of Industry 4.0 capabilities in the planning, constructing, and maintaining ships and submarines and using this technology to monitor and manage the related infrastructure. Digital shipyards use the "Cyber Physical Systems" (CPS) and IIoT capabilities of Industry 4.0 to modernize shipyards. Huge amounts of data can be transmitted to an IIoT device by the sensors and monitoring devices CPS has deployed. IIoT devices operating in an industrial setting, generally referred to as the Industrial IIoT can access the collected data.

Rising adoption in commercial & military sectors to shoot lucrative opportunities for market growth.

The benefits of the digital shipyard are not limited to just space-saving convenience; they also deliver great advantages in the day-to-day operations of the design and shipbuilding team. Many of the major shipbuilders in the commercial and military sectors are adopting a combination of industry 4.0 technologies to create a "Digital Shipyard" for the future. In addition, using the combination of AI & ML with AR/VR technologies reduces downtime and helps in better forecasting of future maintenance   

Recent strategic developments in the Digital shipyard market

The Digital shipyard market has undergone several significant developments, and a few of these have been mentioned below:

  • In June 2022, BAE Systems and Dematec Automation worked together to connect robots, wielding equipment, hardware subsystems, devices, and sensors across typical shipyard workflows.  
  • In June 2022, Fameline Holding Group (FHG), with its subsidiaries and Inmarsat, signed a memorandum of understanding that exhibits both organization's intentions to take initiatives collectively for both maritime and energy sectors.

The Digital shipyard market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships.  AVEVA Group plc, Altair Engineering, Inc., BAE Systems, Dassault Systems, and HEXAGON are the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Digital shipyard technologies providers
  • Sensors and monitoring systems providers
  • Digital shipyard-related service providers
  • Digital shipyard-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Ships and submarines providers
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Shipyard Type:
    • Military
    • Commercial
  • Technology:
    • Digital Twin
    • 3D Printing
    • AR VR
    • Blockchain
    • IIoT
    • Robotic Process Automation
  • Digitization level:
    • Fully Digital Shipyard
    • Semi Digital Shipyard
  • Region:
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled:
    • AVEVA Group plc
    • Altair Engineering, Inc.
    • BAE Systems
    • Dassault Systems
    • HEXAGON

The List of Companies:
- AVEVA Group plc
- Altair Engineering, Inc.
- BAE Systems
- Dassault Systems
- HEXAGON

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