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Digital Shipyard Market Emerging Analysis, Future Growth and Business Opportunities 2027 | Allied Market Research
Digital Shipyard Market
The global digital shipyard market is experiencing a significant growth due to surge in automation of processes. Digital shipyard utilizes technology to automate & digitalize the activities of a shipyard. Ship manufacturers can depend on digital technologies to carry out operations effectively. Digital shipyard provides software and technology such as enterprise resource planning (ERP), manufacturing execution system (MES), computer aided-designing (CAD), and product lifecycle management (PLM). Moreover, digital shipyard delivers cheap & effective solutions to design & construction by synchronizing the information between entire supply chain. Further, digitalization & automation of shipyard enables real-time collaboration between different teams of shipbuilding project.
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COVID-19 scenario analysis:
Shipyards are forced to stop all ship building operations due to government-imposed lockdown in the wake of COVID-19 pandemic.
Ship manufacturers are facing short-term operational issues due to supply chain disruption caused by the governments initiatives to slow the spread of COVID-19.
Digitalization projects of shipyards are put on hold due to lack of workforce owing to the travel restrictions imposed by the governments to control the COVID-19 outbreak.
Naval ship building projects such as submarine and destroyers are prone to delay due to delay in procurement of state-of-art equipment & components essential for such naval vessels, since countries are witnessing financial globally during COVID-19 scenario.
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Surge in modernization of defense shipyards, increase in demand for commercial ships due to increased maritime trade, and rise in adoption of digital twin are some of the factors that drive the global digital shipyard market. However, high cost of digitalization and training cost products hinder the market growth. On the contrary, new manufacturing technologies, automated process, and artificial intelligence present new pathways in the industry.
The global digital shipyard market trends are as follows:
Surge in modernization of defense shipyards
Defense shipyards need to build large fleets at lower costs to meet the requirement of growing naval fleet. For instance, in 2020, CACI International (a professional services & information technology company headquartered in Virginia, US) received a contract of 249 million USD by US Navy to provide digital solutions for improved efficiency & affordability in ship design, manufacturing, and life cycle support. CACI International engineers plan to leverage adapted off-the-shelf technical solutions digital twin shipyard production model, modernization of US Navy’s data management, and acquisition forecasting techniques for modernization of the naval shipyard. Such initiatives in digitalization of defense shipyards are expected to boost the global digital shipyard market.
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Rise in adoption of digital twin
Digital twin is replica of physical device used to run simulations before actual devices are built and deployed. Recently, in 2019, US Navy launched 21 billion USD program to create digital twin models of its aging & outmoded shipyards. Digital twins will assess and optimize shipyard infrastructure to give them a thorough overhaul & revamp in a period of 20 years. Such substantial long-term investment in modernization of shipyards using digital twins will drive the global digital shipyard market.
Key benefits of the report:
This study presents the analytical depiction of the global digital shipyard industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global digital shipyard market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global digital shipyard market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global digital shipyard market analysis based on competitive intensity and how the competition will take shape in coming years.
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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.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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