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Digital Shipyard Market Segmented By Type Commercial Shipyards and Military Shipyards use Technologies such as Network Augmented & Virtual Reality (AR & VR), Network Design Digital Twin & Simulation, Additive Manufacturing, Artificial Intelligence & Big Data Analytics, Robotic Process Automation, Industrial Internet of Things (IIoT), Cybersecurity Blockchain, Cloud Computing & Master Data Management having Capacity includes Small Shipyards, Medium Shipyards, Large Shipyards
The digital shipyard market is projected to grow from US$ 715 Mn in 2020 to US$ 4120 Mn by 2031, at an expected CAGR of 21.1% during the forecast period 2021-2031. The term digital shipyard is applied to industry 4.o adoption. The technology is used for Industry 4.0 capabilities in building, designing, maintaining submarines and ships.
It is also used to monitor and maintain the associated infrastructure. The Industry 4.0 capabilities of Internet of Things (IoT) and "Cyber-Physical Systems" are utilized by digital shipyards to evolve shipyards for the modern era. CPS deploys sensors and monitoring systems to communicate enormous quantities of data to an IoT device.
An enhanced capacity for planning and predicting future maintenance are provided by CPS. There is an increase in focus on procurement plans and modernization across navies are major factors driving the growth of digital shipyard globally.
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There is an increase in globalization and industrialization, which is boosting the demand for sea trade. Sea is considered as low cost mode of transportation and highly effective. In the world, there are more than 52,000 merchant ships, around 10,000 bulk carriers, and 7,000 units of crude oil tankers and this number is going to rise in future as there is an increase in sea trade and tourism.
The number of container ships in the world recorded about 4,900 units in 2019. The digital shipyard market during the forecast period is expected to propel due to growth in demand for ships.
The concern about the carbon footprint generated in the shipping industry to lower it is one of the factor, driving the growth of digital shipyard. There is a rise in environmental concerns across the globe, which is also helping the digital shipyard market to grow during forecast period.
There are certain regulations implemented by Governments and international regulatory authorities across the globe to lower the Sox, emission of carbon and NOx in the shipping industry. Such initiatives will further drive the demand of digital shipyard.
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Get a Customized VersionA combination of Industry 4.0 technologies are adopted by many major shipbuilders in the commercial and defense sectors to create a digital shipyard for the future. A great advantages in the day-to-day operations of the design and shipbuilding team are delivered by digital shipyard.
Modelling costs, and the time that used to be spent building prototypes are reduced with the help of digital shipyard. Both safety and design efficiency are increased by industry 4.0 technology.
Manufacturing processes and expedite decision making of digital shipyard are improved by combining the communication ability of the IoT with big data and machine learning and using IIoT (Industry Internet of Things). Such trend is going to help digital shipyard market to grow in the forecast period.
The rise of the digital shipyard is contributed by several IIoT and emerging technologies. These technologies are deployed to reduce overall production time, and to improve reliability, the overall quality and safety of the end product in digital shipyard.
Existing 2D designs, but 3D scanning technology are enhanced by using 3D modelling by shipbuilders. Performance simulations across all 3 dimensions are enabled by using 3D modelling for digital shipyard. Such trend of combining emerging technology with digital shipyard will drive the market growth.
Due to the presence of emerging economies countries in Asia Pacific region such as China and India, this region is going to hold a significant share of digital shipyard market from 2020 to 2031. Marine vessels are modernized and procured by China and India to establish a strong foothold in the marine sector.
This major factor will drive the demand of digital shipyard in upcoming years. High-end technologies and solutions are used by China, South Korea, Japan, and India at shipyards to achieve the goal of digital transformation in the region. This too will increase the demand for digital shipyards in Asia Pacific region.
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The vital share of the global digital shipyard market is accounted by North America. The North America is a major region in terms of digitization and automation. Due to economic support and necessary infrastructure, the demand for digital shipyard will continue to grow in the region.
The presence of major solution providers in the region will further drive the growth of digital shipyard. The region has been on the forefront of leading digital shipyard upgradation and combining emerging technologies for various levels of digitalization.
Some of the leading vendors of digital shipyard include
These key players are focusing on expanding and deploying new lineup of digital shipyard solutions to meet rising demands from various end-user industries.
By Type
By Technology
By Capacity
By Process
By Region
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
