The global market for digital shipyards was valued at USD 963.6 million in 2020. It is projected to reach USD 3,444.5 million by 2028, growing at a compound annual growth rate (CAGR) of 17.27% between 2021 and 2028. The COVID-19 pandemic had a significant negative impact on the demand for digital shipyard services globally. In 2020, the market experienced a decline of -9.50% compared to the average growth rate during 2017-2019. However, as the effects of the pandemic diminish, the market is expected to recover and return to pre-pandemic levels, driving the projected rise in CAGR.

Informational Source:

https://www.fortunebusinessinsights.com/digital-shipyard-market-106561

Top Comapnies Covered in Digital Shipyard Market are:

• IFS AB (Sweden)
• Pemamek Oy (Finland)
• Dassault Systemes (France)
• BAE Systems (U.K.)
• Altair Engineering, Inc. (U.S.)
• AVEVA Group Plc. (U.K.)
• Wartsila (Finland)
• KUKA AG (Germany)
• Damen Shipyards Group (Netherlands)
• Prostep AG (Germany)

A digital shipyard is a concept that involves the integration of digital technologies and data-driven processes within the shipbuilding and ship maintenance industry. It leverages advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), big data analytics, and automation to enhance efficiency, productivity, and collaboration throughout the lifecycle of a ship.

Benefits of Digital Shipyard:

1. Improved Design and Engineering:
   • Digital shipyard enables more efficient ship design and engineering processes through the use of 3D modeling, virtual reality (VR), and simulation tools. This allows shipbuilders to optimize designs, detect potential issues early, and improve overall ship performance.
2. Enhanced Production and Manufacturing:
   • Through the integration of IoT and automation, digital shipyards can streamline production and manufacturing processes, reducing manual labor, minimizing errors, and improving productivity. Real-time monitoring and data analytics enable proactive maintenance, supply chain optimization, and improved resource allocation.