Global digital shipyard market to reach $7.7b by 2032

Thanks to the push for more efficient and sustainable shipbuilding.

The global digital shipyard market size is projected to reach $7.7b by 2032, growing at a compound annual growth rate of 19.8% from 2023 to 2032.

According to Allied Market Research, Asia-Pacific is expected to see the fastest growth due to increasing ship production in China, South Korea, and Japan. Government initiatives to modernise shipyards, coupled with rising maritime trade and naval fleet expansion, make APAC a major growth hub for digital shipyard solutions.

Factors driving the market include increasing demand for efficient and sustainable shipbuilding. There is also the rising adoption of digital twins and predictive analytics.

“These technologies help shipbuilders monitor vessel performance throughout its lifecycle, enabling timely maintenance and minimising downtime,” Allied Market Research said.

On the other hand, the market is also faced with high implementation costs, cybersecurity concerns, and the complexity of integrating legacy systems with modern digital infrastructure. Smaller shipyards hesitate to adopt due to cost barriers and lack of skilled workforce.

“Despite challenges, increasing collaborations between technology providers and shipbuilders, along with the emergence of cloud-based shipyard solutions, are expected to drive future opportunities,” Allied Market Research said.

“The shift toward Industry 4.0 and smart manufacturing will further accelerate digital shipyard adoption across both commercial and defense sectors,” it added.