Ship and Boat Building and Repairing Market Report 2026

The ship and boat building and repairing market size has grown strongly in recent years. It will grow from $297.05 billion in 2025 to $314.32 billion in 2026 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to expansion of global maritime trade, growth of commercial shipping fleets, increasing naval modernization programs, rising demand for vessel maintenance services, availability of large-scale shipyard infrastructure.

The ship and boat building and repairing market size is expected to see strong growth in the next few years. It will grow to $405.78 billion in 2030 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increasing investments in sustainable shipbuilding, rising adoption of smart shipyard solutions, expansion of defense ship procurement programs, growing demand for vessel retrofitting and upgrades, increasing focus on fuel-efficient vessel designs. Major trends in the forecast period include increasing adoption of green shipbuilding practices, rising use of modular ship construction techniques, growing integration of digital shipyard technologies, expansion of naval and defense vessel programs, enhanced focus on lifecycle maintenance services.

The growing demand for trade and shipping is expected to drive the expansion of the ship and boat building and repairing market in the coming years. Trade refers to the exchange of goods and services between businesses or countries, while shipping involves the physical transportation of goods to enable such trade. The rising demand for trade and shipping is driven by consumer preference for faster and broader access to goods from different regions in a convenient manner. Ship and boat building and repairing supports trade and shipping by enabling the construction and maintenance of vessels required for safe and efficient goods transportation, ensuring ship reliability and longevity to sustain continuous commercial operations. For example, in 2024, according to the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based permanent intergovernmental organization of the United Nations, seaborne trade growth increased from 4.2% in ton-miles in 2023 to 5.1% in 2024, reflecting a 21.4% rise in the growth rate. In addition, total seaborne trade expanded from 5,047 nautical miles in 2023 to 5,186 nautical miles in 2024, an increase of about 2.8%. As a result, the rising demand for trade and shipping is fueling the growth of the ship and boat building and repairing market.

Major companies operating in the ship and boat building and repairing market are emphasizing advanced initiatives such as strengthening self-reliance in the maritime sector, which enables domestic ship repair and construction while reducing dependence on foreign shipyards, enhancing national security, and promoting indigenous technologies. Self-reliance in the maritime sector refers to the capability to independently build, repair, and operate ships and related maritime infrastructure without reliance on foreign facilities for commercial or defense activities. For instance, in August 2024, Cochin Shipyard Limited, an India-based shipbuilding and repair company, commenced operations at its International Ship Repair Facility (ISRF) in Kochi, a multi-dry-workstation facility capable of servicing vessels up to 130 meters in length. This facility supports domestic repair and maintenance of commercial and defense vessels, reducing reliance on overseas shipyards. Additionally, it contributes to maritime self-reliance by developing skilled manpower, advancing indigenous ship-repair capabilities, and supporting the growth of a maritime industrial ecosystem through integration with nearby support services and a planned maritime cluster.

In February 2025, Maersk, a Denmark-based shipping and logistics company, partnered with Cochin Shipyard Limited to explore ship repair and shipbuilding activities. Through this collaboration, Maersk aims to strengthen maritime capabilities and promote local shipbuilding and maintenance expertise by leveraging Cochin Shipyard Limited’s advanced infrastructure and experience in vessel construction and servicing, thereby supporting efficient and high-quality shipbuilding and repair operations. Cochin Shipyard Limited is an India-based company specializing in the construction and maintenance of both commercial and defense ships.

Major companies operating in the ship and boat building and repairing market report include Samsung Heavy Industries Co. Ltd., Daewoo shipbuilding & marine engineering, BRP Inc., Brunswick Corporation, Fincantieri SpA, Huntington Ingalls Industries Inc., China Shipbuilding Industry Corporation, China CSSC Holdings Limited, Berkshire Hathaway Inc., General Dynamics Corp., Mitsubishi Heavy Industries Ltd., Austal Limited, Hyundai Mipo Dockyard Co Ltd., Damen Shipyards Group, Sembcorp Marine Ltd., Oman Drydock Company, Cochin Shipyard Limited, United Shipbuilding Corporation, Arab Shipbuilding and Repair Yard, Bae Systems Norfolk Ship Repair Inc., Conrad Shipyard L.L.C., Irving Shipbuilding, Seaspan ULC, Toronto Drydock Company, James Marine Inc., Trident Maritime Systems Inc., Reliance Naval and Engineering Limited, Bharati Defence And Infrastructure Limited, ABG Shipyard Limited, Western India Shipyard Limited, Titagarh Marine Limited.

Asia-Pacific was the largest region in the ship and boat building and repairing market in 2025. Western Europe was the second largest market in ship and boat building and repairing market. The regions covered in the ship and boat building and repairing market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the ship and boat building and repairing market report include China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The ship and boat building and repairing market includes revenues earned by entities by construction of ships, their repair, conversion, and alteration. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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