NAICS 33661 - Ship and Boat Building
This industry comprises establishments primarily engaged in operating shipyards or boat yards (i.e., ship or boat manufacturing facilities). Shipyards are fixed facilities with drydocks and fabrication equipment capable of building a ship, defined as watercraft typically suitable or intended for other than personal or recreational use. Boats are defined as watercraft typically suitable or intended for personal use. Activities of shipyards include the construction of ships, their repair, conversion and alteration, the production of prefabricated ship and barge sections, and specialized services, such as ship scaling.
Industry trends:
The Ship and Boat Building industry (NAICS 33661) has been experiencing notable qualitative trends in 2023, which are set to shape its near future. One of the key trends is the increasing emphasis on sustainability and green technologies. Shipbuilders are progressively adopting eco-friendly materials, fuel-efficient designs, and hybrid or fully electric propulsion systems to meet stringent environmental regulations and the rising demand for greener maritime solutions. This shift is driven by both regulatory pressures and customer preferences for sustainable options.
Another significant trend is digitalization and the integration of smart technologies. Ship and boat manufacturers are leveraging advanced analytics, IoT, and AI to enhance design, production processes, and operational efficiencies. The use of digital twins, for instance, allows for the simulation of ship performance under various conditions, thereby optimizing design and maintenance schedules. Automation and robotics in shipyard operations are also gaining traction, aiming to improve productivity and reduce costs.
Customization and personalization of boats is becoming more prevalent, catering to niche markets such as luxury yachts and specialized vessels for scientific research or offshore wind support. This trend indicates a shift towards more diversified offerings, with manufacturers developing tailored solutions to meet specific client needs.
Looking ahead, the industry is expected to continue its trajectory towards sustainability and digitalization. Investment in research and development for greener technologies will likely increase, along with collaborations between shipbuilders and tech companies to enhance smart ship capabilities. Market demand for custom-designed vessels is also anticipated to grow, driven by the evolving needs of various maritime sectors.
This industry is comprised of:
Explore related industries:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.