The digital shipyard market has seen significant growth in recent years, as the maritime industry increasingly adopts new technologies to improve efficiency, reduce costs, and enhance safety.

With the rising availability of digital tools and platforms, shipyards and shipbuilders are now able to leverage advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), and machine learning to streamline their operations and optimise their supply chains.

According to Allied Market Research, the global digital shipyard market is projected to showcase a noteworthy CAGR from 2022 to 2031.

Virtual reality and 3D printing are increasingly being used to test designs and save costs.

One of the key recent trends in the digital shipyard market has been the development of new software solutions that enable shipyards and shipbuilders to manage their entire production process digitally, from design and engineering to production planning and quality control. These solutions allow shipyards to collaborate more effectively with their suppliers and customers, reducing lead times and improving the accuracy of their production schedules.

In addition to software solutions, there has also been significant development in the hardware and equipment used in shipyards. For example, new technologies such as 3D printing and virtual reality are being used to create digital models of ships and ship components, allowing shipyards to visualise and test their designs before construction begins. This can help to reduce costs and improve the accuracy of the final product.

Sustainability and Environmental Performance-

At the same time, the growing focus on sustainability and environmental performance has supplemented the market growth in several ways. As the shipping industry comes under increasing pressure to reduce its carbon footprint, shipyards are developing new technologies and processes to reduce waste and emissions. For example, some shipyards are using advanced coatings and materials to reduce the environmental impact of their operations, while others are investing in renewable energy sources such as solar and wind power.

Product development and merger & acquisitions-

In terms of product development, many companies in the digital shipyard market are focused on developing new digital tools and platforms to support the entire lifecycle of a ship, from design and construction to operation and maintenance. This includes software solutions for predictive maintenance, remote monitoring, and real-time data analytics, which can help shipowners and operators to optimise the performance of their vessels and reduce downtime.

There have also been a number of mergers and acquisitions in the digital shipyard market in the past few years, as companies seek to expand their capabilities and market reach. For example, in 2021, DNV acquired GreenSteam, a provider of AI-based solutions for optimizing vessel performance, while Siemens acquired FORAN, a CAD/CAM software solution for ship design and engineering.

Recent developments-

In February 2023, Siemens Digital Industries Software announced that it had signed an agreement with Navantia, a Spanish shipbuilder, to provide its digital twin software for Navantia’s shipyards. The software will help Navantia improve its ship design and production processes.

In January 2023, Wärtsilä, a Finnish marine propulsion technology company, announced that it had signed a contract with MSC Cruises to provide its Fleet Operations Solution (FOS) for MSC’s fleet of cruise ships. FOS is a digital platform that uses real-time data to optimise a ship’s performance and reduce fuel consumption.

In November 2022, Kongsberg Digital, a Norwegian technology company, announced that it had signed a contract with China Merchants Heavy Industry (CMHI) to provide its digital twin software for CMHI’s shipyards. The software will be used to optimise CMHI’s ship design and production processes.

In September 2022, Samsung Heavy Industries (SHI), a South Korean shipbuilder, announced that it had developed a new digital twin platform for its shipyards. The platform, called Smart SHI, will use artificial intelligence and big data analytics to improve SHI’s ship design and production processes.

In August 2022, DNV, a Norwegian classification society, announced that it had signed an agreement with Yantai CIMC Raffles Offshore, a Chinese shipyard, to provide its Veracity platform for data management and analytics. Veracity will be used to improve CIMC Raffles’ ship design and production processes.

To conclude, the digital shipyard market is rapidly evolving, driven by new technologies and increasing demand for efficiency, sustainability, and safety. Companies that can stay ahead of these trends and develop innovative solutions to meet the needs of shipyards and shipbuilders are likely to be well-positioned for success in the years ahead.

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Author’s Bio: Koyel Ghosh is a blogger with a passion for a wide variety of niches, serving the corporate industry for the last four years.

koyel.ghosh@alliedmarketresearch.net