Shipbuilding & Repairing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 4/1/2024
SIC Codes: 3731
NAICS Codes: 336611
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Shipbuilding & Repairing Industry Profile

Companies in this industry build and repair barges, cargo ships, naval vessels, and passenger ships, as well as platforms used for oil and gas drilling and production. Major companies include the shipbuilding division of General Dynamics and Huntington Ingalls (both based in the US), along with China Shipbuilding Industry Corporation and China State Shipbuilding Corporation (China); Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries, and Samsung Heavy Industries (all of South Korea); and Mitsubishi Heavy Industries (Japan).

Asian countries dominate the global shipbuilding industry, with South Korea, China, and Japan producing the vast majority of bulk carriers, containerships, oil tankers, and general cargo ships. Military vessels are a major product of the US shipbuilding industry.

The US shipbuilding and repair industry includes about 700 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $25 billion.


Demand for military shipbuilding is largely determined by military budgets. Commercial shipbuilding demand is determined by international and domestic trade, the health of the global economy, and rate of fleet replacement due to age or obsolescence. Small companies usually specialize in building and repair of small commercial vessels. Large companies tend to offer a wide range of building and repair services for both commercial and military vessels, and enjoy economies of scale in purchasing, design, and manufacturing. The US industry is highly concentrated: the largest 50 companies account for about ...

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