Naval shipbuilding refers to the production industry that builds or manufactures ships for military purposes, primarily for national defense and maritime military activities. The development of naval shipbuilding industry is of great significance for the enhancement of national maritime power and the maintenance of national defense security. ‌

Overview of Market Development

In recent years, the global naval shipbuilding market has shown a fluctuating development trend. According to our research data, the estimated revenue of the global naval shipbuilding market in 2024 is $98.29 billion, a decrease of 0.35% from 2023. It is expected to rebound to $100.61 billion by 2025. However, from 2026 to 2028, the market may experience a sustained three-year contraction, and market revenue may drop to $99.61 billion by 2028. By 2029, it is expected that the market will gradually recover and the market revenue is expected to reach $101.96 billion.

Segmented Market Analysis

According to different types of ships, the naval shipbuilding market can be segmented into bulker, cruiser, ferry, and tanker manufacturing markets. Among them, the bulker manufacturing segment holds the largest market share, estimated at 32.25% in 2024.

From an application perspective, naval shipbuilding mainly includes commercial and navy applications. Among them, the commercial sector is the largest downstream application market, with an expected application share of 77.54% by 2024.

Source: www.globalmarketmonitor.com

Analysis of Market Competition Pattern

From the perspective of market competition, the concentration of the global naval shipbuilding market is low. Data shows that in 2023, the top 3 companies had a total revenue of 17.194 billion for naval shipbuilding market, with a total revenue share of 17.43%. The top three companies were Hyundai Heavy Industries Co., Ltd., Daewoo Shipbuilding&Marine Engineering, and China Shipbuilding Industry Corporation. In 2023, these three companies' naval shipbuilding market shares in the global market were 7.38%, 5.77%, and 4.28%, respectively.

Companies	Market Revenue (Million USD)	Market Share
Hyundai Heavy Industries Co., Ltd.	72.80	7.38%
Daewoo Shipbuilding & Marine Engineering	56.92	5.77%
China Shipbuilding Industry Corporation	42.22	4.28%
Top3 Companies	171.94	17.43%