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Ship Building in Canada: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Ship Building in Canada Market Research Report | NAICS 33661aCA | Feb 2016

Able bodied seaman: Government contracts and renewed commercial demand will drive industry growth

IBISWorld’s Ship Building market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 11-16
18.6%
Annual Growth 16-21
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Profit
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Employment
7,269
Businesses
192
Industry Analysis & Industry Trends

A boom in demand helped the Ship Building industry rapidly expand over the past five years. Industry players build, modify, convert and repair ships including warships, icebreakers, ferries and offshore platforms. In order to rebuild its navy and coast guard, the federal government launched the National Shipbuilding Procurement Strategy (NSPS) in 2010. As a result, over the past five years, industry operators began to invest into existing and new facilities in order to cope with incoming orders. In the five years to 2021, as NSPS-related ship construction ramps up, the industry will experience a surge in production. As a result, operators will expand facilities and hire more workers, with industry employment anticipated to climb.


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Industry Report - Industry SWOT Analysis Chapter

The Ship Building industry is in the mature phase of its industry life cycle. In the 10 years to 2021, industry value added (IVA), which measures the industry's contribution to the overall economy, is forecast to increase 13.4% annually on average. By comparison, GDP is projected to grow at an annualized rate of 1.9% over the same period. While IVA growth so far above GDP typically indicates a growing industry, ship builders' performance has more to do with a lower starting base. Before the five year period, the industry was suffering from lacklustre and inconsistent demand. This led to boom in bust cycles in production, which led to underinvestment and uncertainty. However, over the past five years a surge in defence contracts has started to revive the industry... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Ship Building Industry?

Companies in the industry build, repair, convert and alter ships in shipyards. Shipyards are fixed facilities with dry docks and fabrication equipment capable of building ships, defined as watercraft suitable or intended for purposes other than personal or recreational use. This does not include boat-building activities.

Industry Products
Ship buildingRepairing ships
 
Industry Activities
Building bargesBuilding commercial fishing boatsRepairing ships in a shipyardManufacturing shipsBuilding cargo shipsBuilding container shipsBuilding dredgesBuilding ferryboatsBuilding fireboatsBuilding naval ships


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