Digital Shipyard Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Poland, Belgium, Netherlands, Russia, Japan, China, India, South Korea, Malaysia, Sri Lanka, Brazil, Argentina, UAE, South Africa, Saudi Arabia), Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4743
Digital Shipyard Market size is set to increase considerably in the coming years owing to rise in global trade and tourism activities through ships. Digital shipyard is engaged for the integration of various digital technologies, such as AR/VR and IoT, in a shipyard, resulting in improved operational efficiency.
The rise in trade and tourism activities through ocean has increased the demand for operational ships. The rising requirement of ships has forced shipyards to improve their operational efficiency by embracing latest technologies. Collaboration with other industry players to improve transparency and effective data transfer will positively augment the digital shipyard market. For instance, in February 2020, nine shipping companies and terminal operations signed an agreement to be a member of the Global Shipping Business Network (GSBN), which is dedicated toward the establishment of global digital collaboration.
The rise in profitability experienced by ship manufacturers and operators by integrating digital technologies will support the market positively. For instance, in June 2019, the U.S. Department of Defense (DoD) projected savings of approximately USD 4 billion over 50 years for the operations of USS Ford. It was the first navy vessel to use full-scale, three-dimensional product model.
Gradually maturing technologies supported by the shipping industry, followed by integration and advancement are improving the market statistics. Efforts taken by technology companies, such as IBM, to develop and integrate various processes for the shipping industry will change the market prospects. For instance, in January 2020, Oman’s Port of Salalah joined TradeLens, a blockchain platform developed by IBM in 2018. It provides a systematic leger for activities performed on the port, allowing Oman’s Port to streamline their operations and improve operational accuracy.
Implementation of digital technologies to embrace new regulations imposed on the shipping industry will be a major driving factor. Rising environmental concerns across the globe due to carbon footprint generated by the shipping industry have led to IMO2020. The regulation states to reduce the sulfur emission of the shipping industry by 80% in 2020. It can be achieved through integration of digitization, allowing ships to operate at maximum efficiency and provide optimal root through connected technologies.
The sudden outbreak of COVID-19 will impose a moderately positive impact on the digital shipyard market. Limited number of operational staff to minimize possibilities of contamination along with limited operational resources pose a demand for digitization and automation processes. For instance, in April 2020, the Port of Gothenburg has witnessed the growth by embracing digitization due to the outbreak of coronavirus. A number of operations, such as gate operations, which require human presence are now digitized. This has reduced the scope of human error and improved operational accuracy.
The commercial digital shipyard within the type segment will capture maximum market share due to the efforts taken by governments to streamline commercial shipping through digitization. For instance, a total of 14,734 users were registered on PCS 1x (digital platform developed by the government of India for the shipping industry) as of July 2019, which was 12,500 as of June 2019. Deadlines given by the regional government to integrate digitization have provided a positive market impact.
The additive manufacturing segment by technology will capture significant market share over the coming years due its widespread adoption. Additive manufacturing has been present since 1990s, but recently it has caught attention and major industry participants have significantly invested on research & development of this technology, improving its scope of application. For instance, in January 2020, ThyssenKrupp announced to collaborate with Wilhelmsen to develop additive manufacturing solutions for the commercial shipping industry. This will reduce the manufacturing cost and overall manufacturing time, positively impacting the revenue streams.
The Europe digital shipyard market will witness maximum growth rate between 2020 and 2026 due to the developed infrastructure of the shipping industry present in European countries along with technological competitiveness witnessed by major European players. Efforts by regional government to ease trade transactions across the European Union will also support the market growth. Initiatives taken by the European government to minimize carbon footprint and regularize the maritime industry are positively impacting the market dynamics.
Enterprises operating in the market are undergoing collaboration and Memorandum of Understanding (MoU). Major information telecom companies, such as IBM, are engaged in the development of new technologies, which can cater to the shipping industry and improve operational efficiency. Other players collaborate with such tech companies, supporting the market competitiveness. Major players operating in the digital shipyard market encompass Accenture, Altair Engineering, Inc., Aras, Aveva Group plc, BAE Systems, Damen Shipyards Group, Dassault Systems, Hexagon, Ibaset, IFS AB, Inmarsat plc, Kranendonk Smart Robotics, Kreyon Systems Pvt. Ltd, Kuka AG, Pemamek Ltd, Prostep AG, Siemens, and Wartsila.
Market, By Type, 2015 - 2026 (USD Million)
Market, By Size, 2015 - 2026 (USD Million)
- Small shipyard
- Medium shipyard
- Large shipyard
Market, By Technology, 2015 - 2026 (USD Million)
- Additive manufacturing
- Robotics and automation
- Digital twin technology
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- New Zealand
- South Korea
- Latin America
- South Africa
- Saudi Arabia
- Altair engineering, inc.
- Aveva group plc
- BAE Systems
- Damen shipyards group
- Dassault Systems
- Inmarsat plc
- Kranendonk smart robotics
- Kreyon systems pvt ltd
- Kuka ag
- Pemamek ltd
- Prostep ag
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