Digital shipyard market to reach $5,087.17 million by 2031 | Altair Engineering, Aras, BAE Systems, Hexagon AB, iBASEt, SAP SE, Siemens

The digital shipyard market was valued at $846.20 million in 2021, and is estimated to reach $5.09 billion by 2031, growing at a CAGR of 19.6% from 2022 to 2031.

The concept of digital shipyard is typically attributed to the upgradation of shipyards with the adoption of Industry 4.0 capabilities, such as "Cyber-Physical Systems" (CPS) and Internet of Things (IoT) to evolve shipyards for the modern era. By combining the Internet of Things (IoT) with cyber-physical systems (CPS), shipbuilders can produce virtual models in a fraction of the time. These are used to test, modify, and improve designs before physical production commences. Thus, many major shipbuilders in the commercial and defense sectors are adopting a combination of Industry 4.0 technologies to create a digital shipyard for the future.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭- https://www.alliedmarketresearch.com/digital-shipyard-market/purchase-options

For instance, in December 2020, Pemamek OY received a contract from Babcock International Group, which is a developer of aerospace and defense solutions, to supply PEMA welding and production lines for its shipbuilding site at Rosyth, Scotland. This allowed Babcock to raise the level of automation at its plant and also increased its welding and handling capabilities, which improved the manufacturing quality of ship structures.

In addition, the digital shipyard market has witnessed significant growth in recent years, owing to increase in investments by shipyard enterprises and noteworthy increase in industrialization and globalization. Governments and international regulatory authorities across the globe are implementing regulations to lower the emission of carbon, SOx, and NOx in the shipping industry. Furthermore, companies operating in the market have adopted partnerships, product launches, and agreements to increase their market share and expand their geographical presence.

For instance, in September 2021, Kranendonk Production Systems BV signed an agreement with Shanghai Waigaoqiao Shipbuilding Co. Ltd. to deliver thin plate flat assembly line section that automated the welding process for large cruise ships. This led to automatic seamless welding operations along with high welding quality and efficient welding process.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬- https://www.alliedmarketresearch.com/request-sample/9536

Increase in demand for cargo ships due to increased maritime trade, rise in environmental concerns globally to lower the carbon footprint generated in the shipping industry, and rise in adoption of digital twin technology supplement the growth of the digital shipyard market. However, high cost of digitalization and training cost products and complexity associated with the systems are expected to hamper the growth of the market. In addition, rising implementation of robot technology in the shipbuilding industry and increasing use of industrial internet of things (IIoT) are expected to create ample opportunities for the key players operating in the market.

The leading players operating in the digital shipyard market are Altair Engineering Inc., Aras, AVEVA Group Plc, BAE Systems Plc, Damen Shipyards Group, Dassault Systems, Hexagon AB, iBASEt, Inmarsat Global Limited, Kranendonk Production Systems BV, Kreyon Systems Pvt. Ltd., Pemamek OY, PROSTEP AG, SAP SE, Siemens, and Wartsila.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.alliedmarketresearch.com/purchase-enquiry/9536

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲:
- By type, the commercial shipyards segment dominated the global digital - shipyard market in 2021, in terms of growth rate.
- On the basis of technology, the others segment is anticipated to exhibit a remarkable growth during the forecast period.
- By capacity, the large shipyards segment is the highest contributor to the digital shipyard market in terms of growth rate.
- By digitization level, the fully-digital shipyard segment is anticipated to exhibit a remarkable growth during the forecast period.
- By region, LAMEA is anticipated to exhibit a remarkable growth during the forecast period.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.

About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.