US Shipyard Output to Rise 3.6% Annually in Nominal Terms to 2023

10/9/2019

Cleveland, OH, October 9, 2019 — US shipyard output is forecast to see 3.6% average annual growth in nominal terms through 2023, according to Shipbuilding: United States, a report recently released by Freedonia Focus Reports. Replacement of an aging US Navy fleet and the deployment of increasingly expensive ship technologies are expected to support advances. Continued growth in manufacturing activity, particularly the output of nonmetallic mineral products and chemicals, will support waterborne freight volumes and drive demand for barges, platforms, and other ships. Advances in crude oil and natural gas production volumes will support waterborne freight volumes, as well as production and repair of associated vessels.

Output of newly constructed self-propelled military ships is projected to remain the largest segment. The US Navy’s long term goal of expanding the battle force to 355 ships will underpin gains.

These and other key insights are featured in Shipbuilding: United States. This report forecasts US shipbuilding shipments in nominal US dollars to 2023. Total output is segmented by type in terms of:

  • military self-propelled ship construction
  • military ship repair
  • nonpropelled ship construction
  • nonmilitary self-propelled ship construction
  • nonmilitary ship repair

To illustrate historical trends, total shipments and the various segments are provided in annual series from 2008 to 2018.

The scope of this report encompasses US shipyards; establishments primarily engaged in building boats are excluded. For the purposes of this report, both self-propelled and nonpropelled barges are classified as ships. The value of marine engineering services, such as design and development, is excluded from the scope of this report.

More information about the report is available at:

https://www.freedoniafocusreports.com/Shipbuilding-United-States-FF85020/?progid=91541