The Future Of Digital Shipyard: How The Market Will Evolve Through 2030 With A CAGR Of 19.1%

(MENAFN- GlobeNewsWire - Nasdaq) Delray Beach, FL, Nov. 11, 2024 (GLOBE NEWSWIRE) -- The report " Digital Shipyard Market by Shipyard Type (Commercial, Military), Capacity (Large, Medium, Small), Process, Technology, End Use (Implementation, Upgrades and Services), Digitalization Level and Region - Global Forecast to 2030" The Digital Shipyard Market is projected to grow from USD 1.3 billion in 2022 to USD 5.5 billion by 2030, at a CAGR of 19.1% during the forecast period. The need for shipbuilders to meet reduced lifecycle costs, pursue better investment strategies, streamline the shipbuilding process, and reduce overhead costs have motivated shipbuilders to invest in digital shipyard solutions. This is one of the main factors driving the growth of the market.

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Major vendors in the Digital Shipyard companies include

• Siemens (Germany),
• Dassault Systemes (France),
• Accenture (Ireland),
• SAP (Germany),
• BAE Systems (UK).

Key Market Segments in the Digital Shipyard Industry:

The Medium shipyard Segment is estimated to lead the digital shipyard market in the forecast period

Based on Shipyard type, the medium shipyard segment of the digital shipyard market is accounted for the highest growth during the forecast period. Medium sized shipyards often face challenges in terms of financial resources, scarcity of skilled personnel, limited access to technologies, etc., which impact the overall growth of the industry. However, with the help of Smart Solutions and SmartYard prototypes, companies can characterize the design, production, and delivery processes of the digital shipyard. These innovative solutions and technologies ensure complex data consistency, reduce errors, increase reproducibility, and enhance quality.

The manufacturing and planning segment is expected to have largest market share in 2022

Based on process, the manufacturing and planning segment accounted for the largest growth of the digital shipyard market during the forecast period. Digital transformation in shipbuilding is a complex and lengthy process that demands careful planning and timely decision-making. Efficient planning proposes appropriate tools to facilitate process design and sequencing, production BOM and BOP management, time management, 3D shipyard layout, and ergonomic analysis. These management tools also help plan workflows, automate non-value-added planning tasks, and validate the optimal shipbuilding plan and digital shipyard.

Asia Pacific Region is expected to witness largest market share in the forecast period

Asia Pacific Region is witnessing highest growth among all the regions. The marine industry is one of the most profitable in Asia Pacific. According to the United Nations Conference on Trade and Development (UNCTAD) in 2021, countries such as China, Japan, and the Republic of Korea retained their leadership in global ship production, representing 90% of shipbuilding activity.

Digital Shipyard Market Dynamics:

Opportunity: Augmented Reality in Shipbuilding

Augmented reality (AR) can also increase the efficiency and effectiveness of digital shipyards. AR headsets offer a high-quality immersion experience and also have the benefit of being relatively hands-free. AR headsets can access key information such as the state of a worker's alertness, in terms of a fatigue index, with the help of a screen pointed at the concerned worker. AR headsets can also help with quality checks during shipbuilding. For instance, rather than conducting a manual quality checklist for each compartment of the ship, the officer can wear an AR camera. The headset scans the barcode or IIoT tags and can obtain associated media from a server or applications such as those used for PLM. The headset can also display lists of items that have been checked, and an officer can mark off items once they are inspected through a gesture. AR headsets or AR-enabled tablets can be equipped with cameras to add photos and videos once they are inspected. This would reduce the turnaround time and increase the efficiency of the shipyard.

Challenge: Stringent Regulatory Framework

Prominent companies who manufacture and provide digital shipyard solutions, private & small enterprises, distributors/suppliers/retailers, and end customers are key stakeholders in this ecosystem. Investors, funders, academic researchers, integrators, service providers, and licensing authorities serve as major influencers in the industry.

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Digital Shipyard Market Report categorizes into:

By Technology

• AR/VR
• Digital Twin & Simulation
• Addictive Manufacturing
• Artificial Intelligence & Big Data Analytics
• Robotic Process Automation
• Industrial Internet of Things (IIoT)
• Cybersecurity
• Block Chain
• Cloud & Master Data Management

By Capacity

• Large Shipyard
• Medium Shipyard
• Small Shipyard

By Process

• Research & Development
• Design & Engineering
• Manufacturing & Planning
• Maintenance & Support
• Training & Simulation

By Region

• North America
• Europe
• Asia Pacific
• Middle East
• Rest of the World

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