Digital Shipyard Market Poised for Growth - Top Players to Launch New StrategiesPosted by Amrut Mahajani on March 2nd, 2023  Digital Shipyard Market is expected to see significant growth in the coming years, and the medium shipyard segment is expected to lead this growth. Medium-sized shipyards face numerous challenges such as limited access to technology, scarcity of skilled personnel, and financial constraints, which can impede their overall growth. However, with the help of Smart Solutions and SmartYard prototypes, shipyards can overcome these challenges and streamline their operations. Smart solutions and technologies such as digital twin, artificial intelligence, machine learning, IoT, and additive manufacturing, among others, can improve the coordination and efficiency of shipbuilders. These technologies are used across different processes such as design and engineering, manufacturing and planning, maintenance and support, research and development, and training and simulation. Digital transformation of shipyards helps streamline the shipbuilding process, increases efficiency, and reduces the time and cost of manufacturing. Get More Information Request Sample Copy (Get Higher Priority for Corporate email ID): https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=6854923 The manufacturing and planning segment is expected to have the largest market share in 2022. Digital transformation in shipbuilding is a complex and lengthy process that requires careful planning and timely decision-making. Efficient planning requires appropriate tools to facilitate process design and sequencing, production BOM and BOP management, time management, 3D shipyard layout, and ergonomic analysis. These management tools also help plan workflows, automate non-value-added planning tasks, and validate the optimal shipbuilding plan and digital shipyard. The Asia Pacific Region is expected to witness the largest market share in the forecast period. The marine industry is one of the most profitable in the Asia Pacific region. According to the United Nations Conference on Trade and Development (UNCTAD) in 2021, countries such as China, Japan, and the Republic of Korea retained their leadership in global ship production, representing 90% of shipbuilding activity. Key players operating in the digital shipyard market include Siemens (Germany), Dassault Systemes (France), Accenture (Ireland), SAP (Germany), and BAE Systems (UK), among others. These solutions, services, and equipment providers offer comprehensive solutions to key stakeholders in the market. A digital shipyard integrates system- and/or cloud-based solutions that coordinate, monitor, and improve processes related to shipping manufacturing, maintenance, and support. A digital shipyard replaces outdated technology platforms and their compartmentalized data with unified state-of-the-art planning tools and a single common repository of design data that is always updated and universally available. The digital shipyard concept ensures that every aspect of shipbuilding during design and build and throughout its service life is live and accessible to the crew, those involved in the maintenance and upgrade of the fleet, as well as approved suppliers. Contracts, agreements, investments, new product launches, and acquisitions are among some of the key strategies adopted by the leading market players and various stakeholders to strengthen and sustain their position in the Digital Shipyard Market. For instance, in June 2022, Altair acquired Concept Engineering (US), the leading provider of electronic system visualization software that accelerates the development, manufacturing, and service of complex electrical and electronic systems. Concept Engineering provides automatic schematic generation tools, electronic circuits, and wire harness visualization platforms that provide on-the-fly visual rendering and electronic design debug solutions. The digital shipyard market is projected to grow significantly, with the medium shipyard segment leading this growth. Smart solutions and technologies such as digital twins, artificial intelligence, machine learning, IoT, and additive manufacturing can help improve the coordination and efficiency of shipbuilders, streamline the shipbuilding process, increase efficiency, and reduce the time and cost of manufacturing. The Asia Pacific region is expected to witness the largest market share in the forecast period, and key players in the market are adopting various strategies to strengthen and sustain their position in the market. 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