Shipbuilding in the UK - Industry Market Research Report

Strong support: New contracts are supporting revenue growth in 2023-24

Shipbuilding revenue is forecast to expand at a compound annual rate of 1.2% to £6.6 billion over the five years through 2023-24, including a projected growth of 1.3% in 2023-24. Shipbuilders produce military vessels for the Royal Navy and foreign governments, providing a steady revenue stream. Import competition in the passenger ship segment is intensifying due to lower production costs in Europe and Asia, leading to the demise of this segment. Despite this, exports account for a large share of revenue thanks to warships built for foreign militaries.

Companies in this industry build ships and boats, and construct floating structures. The industry does not include repair activities, but does include ship rebuilding and overhauls. Industry participants do not build ships used for sport or recreation and do not manufacture parts of vessels, other than major hull assemblies.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.