The global market for digital shipyards was valued at USD 963.6 million in 2020. However, the COVID-19 pandemic had a significant negative impact on the demand for digital shipyard solutions worldwide. In 2020, the market experienced a decline of -9.50% compared to the average growth rate from 2017 to 2019. Despite this setback, it is projected that the market will recover and grow from USD 1,129.6 million in 2021 to USD 3,444.5 million by 2028, with a compound annual growth rate (CAGR) of 17.27% during the period from 2021 to 2028. This expected increase in the CAGR is due to the anticipated recovery of the market's demand, which is expected to return to pre-pandemic levels once the pandemic is over.
Infomational Source:
https://www.fortunebusinessinsights.com/digital-shipyard-market-106561
Key Companies Covered in Digital Shipyard Market are:
A digital shipyard refers to the implementation of advanced digital technologies and data-driven processes in shipbuilding and ship maintenance operations. It involves the integration of various software systems, automation tools, IoT (Internet of Things) devices, data analytics, and other digital solutions to enhance efficiency, productivity, and collaboration throughout the shipyard lifecycle.
Digital Twin:
A digital twin is a virtual replica of a physical ship or its components. It integrates data from various sources, including sensors, CAD (Computer-Aided Design) models, and historical maintenance records. Digital twins enable shipyard operators to visualize, simulate, and analyze ship performance, maintenance requirements, and operational scenarios. By leveraging real-time data, digital twins facilitate predictive maintenance, optimize operations, and improve decision-making.
Design and Engineering:
Digital shipyards utilize advanced design and engineering tools to create ship models, perform simulations, and optimize vessel performance. Computer-aided design (CAD) software allows designers to develop detailed 3D models, assess structural integrity, and evaluate hydrodynamic characteristics. Virtual reality (VR) and augmented reality (AR) technologies enable stakeholders to visualize and validate ship designs before construction.
Production Planning and Simulation:
Digital shipyards optimize production planning by using simulation and visualization tools. These tools aid in the scheduling and sequencing of tasks, resource allocation, and material management. By simulating the shipbuilding process digitally, shipyards can identify bottlenecks, optimize workflows, and reduce production time and costs. Simulation also helps in training workers and improving safety.