According to the report published by Allied Market Research, the global digital shipyard market generated $0.84 billion in 2021, and is projected to reach $5.09 billion by 2031, growing at a CAGR of 19.6% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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The key players analyzed in the global digital shipyard market report include Accenture, Altair Engineering Inc., Aras., AVEVA Group Plc, BAE Systems Plc, Damen Shipyards Group, Dassault Systems, Hexagon AB, iBASEt, Inmarsat Global Limited, Kranendonk Production Systems BV, Kreyon Systems Pvt. Ltd., Pemamek OY, PROSTEP AG, SAP SE, Siemens, and Wartsila.
Based on region, the market across the Asia-Pacific region held the dominating market share in 2021, holding around two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 25.8% during the forecast period.
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COVID-19 Scenario:
- The outbreak of COVID-19 had had a negative impact on the growth of the global digital shipyard market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of various manufacturing facilities, and various projects of shipyards. All sorts of digitalization projects in shipyard were temporarily held back due to the less availability of workforce during the pandemic.
- This was majorly due to the stringent social distancing restrictions imposed by the government to significantly curb the spread of the virus during the pandemic.
- In addition, naval ship-building projects such as submarines and destroyers were prone to delays in the procurement of state-of-art equipment & components essential.
- Furthermore, there was a reduced demand for maritime transport and trade as new ship orders were canceled to counter and further limit the expenses due to the global economy and finances.
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