Industry Analysis & Industry Trends
Although most manufacturing industries faced severe declines during the recession, the Ship Building industry was able to weather the storm with only slight dips in revenue. Over the past five years, the industry has benefited from a steady amount of work stemming from government and military clients and the time lag between ordering a ship and its completion. Additionally, demand grew due to greater demand from ocean and coastal transportation companies, which require ships for operations... purchase to read more
Industry Report - Industry Analysis Chapter
Revenue for the Ship Building industry has declined only slightly at an average annual rate of 0.3% to $823.7 million in the five years to 2014. The industry primarily benefits from increases in government contracts, usually stemming from defense spending and greater demand from ocean and coastal transportation companies, which require ships for operations. Additionally, in 2010, the National Shipbuilding Procurement Strategy was announced, stimulating demand for combat and noncombat projects from the industry.
The amount of time between placing an order for a ship and receiving the completed vessel varies depending on the size and complexity of the vessel and the amount of work on a shipyard's backlog... purchase to read more