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2024 U.S. Industry Statistics & Market Forecast - Ship Building and Repairing


Market Size & Industry Statistics

The total U.S. industry market size for Ship Building and Repairing: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics        2019        2020        2021        2022        2023
Market Size
(Total Sales/Revenue)


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Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Average Revenue Per Employee
Statistics Source: U.S. Census, AnythingResearch Analysis of Federal Data



Market Forecast

Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.





Forecast / Industry Outlook 2024 2025 2026 2027 2028
Market Forecast ($ millions)
Projected Industry Growth Rate (%)
Source: AnythingResearch Economic Analysis

Industry Insights

The Ship Building & Repairing industry is experiencing a variety of key trends that are transforming the sector. One of the most prominent trends is the adoption of digital technologies such as augmented reality, 3D printing, and blockchain. These innovations are helping to enhance the design, construction, and maintenance of ships, making the process more efficient and cost-effective.

Another trend is the growth of eco-friendly shipbuilding and repair practices. As the awareness of environmental issues increases, shipbuilders and repair companies are adopting more sustainable and energy-efficient solutions. This includes the use of alternative fuels, hybrid power systems, and wastewater treatment technology.

The industry is also experiencing a surge in demand for offshore and specialized vessels such as wind farm service vessels, cable laying ships, and LNG carriers. This growth is being driven by increasing demand for renewable energy and liquefied natural gas (LNG) around the world.

Moreover, the industry is seeing a shift towards digitization, automation, and artificial intelligence (AI). This trend is making shipbuilding and repair more efficient and cost-effective by enabling greater precision and control over the manufacturing process.

Finally, the industry is also witnessing a rise in demand for shipbuilding and repair services in emerging markets, particularly in Asia-Pacific and the Middle East. This trend is being driven by a growing population, economic development, and increasing trade.



U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map by state

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

Industry AveragePercent of Sales
(Industry Benchmark)
Total Revenue

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Operating Revenue
Cost of Goods Sold
Gross Profit

Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit
Net Income
 
Source: AnythingResearch Analysis of U.S. federal statistics




Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Ship Building and Repairing company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation RatiosIndustry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Ship Building and Repairing industry is performing.
Profit Margin
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Ship Building and Repairing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.


Liquidity RatiosIndustry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio
Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.


Efficiency Ratios - Key Performance IndicatorsIndustry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.



Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

TitlePercent of WorkforceBottom Quartile Average (Median) SalaryUpper Quartile
Management Occupations 4%

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Chief Executives0%
General and Operations Managers2%
Business and Financial Operations Occupations 6%
Architecture and Engineering Occupations 7%
Engineers 5%
Office and Administrative Support Occupations 5%
Construction and Extraction Occupations 13%
Construction Trades Workers 11%
Installation, Maintenance, and Repair Occupations 7%
Production Occupations 49%
Assemblers and Fabricators 18%
Fiberglass Laminators and Fabricators 7%
Fiberglass Laminators and Fabricators 7%
Miscellaneous Assemblers and Fabricators 7%
Metal Workers and Plastic Workers 16%
Welders, Cutters, Solderers, and Brazers 10%
Other Production Occupations 9%
Source: Bureau of Labor Statistics


Ship Building and Repairing Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Ship Building and Repairing industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Ship Building and Repairing industry and adjacent sectors:

Market Leaders:
Direct Competitors

Companies with the largest market share, focused in this industry
Market leaders:
Diversified Competitors

Largest companies that have diversified operations in this and other industries
Innovators:
Direct Competitors

Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.
Innovators:
Diversified Competitors

Innovators and Disruptors in adjacent industries that may also affect the Ship Building and Repairing industry.
Source:
IncFact




Innovation News



Recent Federal Contracts for Ship Building and Repairing

  • Feb 27, 2024: HAWK VALVE, INC. (Jacksonville, FL) awarded $11,000
  • Feb 27, 2024: TRYCON ENTERPRISES, L.L.C. (Fairfield, NJ) awarded $50,000
  • Feb 27, 2024: SHAKA ENGINEERING INC (Honolulu, HI) awarded $207,697
  • Feb 27, 2024: FINCANTIERI MARINE SYSTEMS NORTH AMERICA, INC. (Chesapeake, VA) awarded $20,586
  • Feb 27, 2024: SANFORD FEDERAL, INC. (Stafford, VA) awarded $35,265
  • Feb 27, 2024: WARTSILA DEFENSE INC (Chesapeake, VA) awarded $7,990




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