This U.S. industry comprises establishments primarily engaged in operating a shipyard. 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. 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.
The shipbuilding and repairing industry, classified under NAICS 336611, is currently experiencing several notable qualitative trends. One major trend is the increasing emphasis on sustainability and green technologies. Shipyards are integrating eco-friendly practices and constructing vessels designed to reduce environmental impact. This includes the use of alternative fuels like LNG, hydrogen, and electric propulsion systems to comply with stringent environmental regulations and customer demands for greener operations.
Another significant trend is the advancement in digitalization and automation technologies. The industry is embracing smart shipbuilding techniques, leveraging IoT, AI, and blockchain to streamline processes, enhance efficiency, and ensure higher precision in operations. Furthermore, augmented reality (AR) and virtual reality (VR) are being adopted for training and maintenance, reducing errors and improving safety standards.
The focus on modular construction techniques is also gaining traction, allowing for more flexibility and faster assembly times, ultimately leading to cost savings and efficient utilization of resources. The shift toward modularity is set to continue, with additional improvements in production workflows expected.
Looking ahead, the shipbuilding and repairing industry is forecasted to see steady demand, driven by the continued growth of global trade. Additionally, innovation in vessel types, such as autonomous ships, is projected to accelerate, contributing to a dynamic and forward-thinking sector poised to navigate the challenges of the upcoming decade.
Barge building
Cargo ship building
Container ship building
Dredge building
Drilling and production platforms, floating, oil and gas, building
Drydock, floating, building
Ferryboat building
Fireboat building
Fishing boat, commercial, building
Hydrofoil vessel building and repairing in shipyard
Naval ship building
Oil and gas offshore floating platforms manufacturing
Passenger ship building
Patrol boat building
Sailing ships, commercial, manufacturing
Ship dismantling at shipyards
Ship repair done in a shipyard
Ship scaling services done at a shipyard
Ships (i.e., not suitable or intended for personal use) manufacturing
Shipyard (i.e., facility capable of building ships)
Submarine building
Towboat building and repairing
Tugboat building
Yachts built in shipyards
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
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.
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.