Despite the massive effect of the global recession on builders of commercial aircraft and ships, companies primarily involved in the building of their military equivalents fared considerably better. The national security considerations of governments and long-term planning undertaken for military expenditure have ensured that revenue for the Global Military Shipbuilding and Submarines industry has been relatively stable.
IBISWorld expects that industry revenue will increase at an annualized 1.2% in the five years through 2012 to reach $38.9 billion.
Firms in this industry operate shipyards or boatyards. Shipyards are fixed facilities with dry docks and fabrication equipment capable of building a naval ship. These establishments manufacture frigates, destroyers, cruisers, amphibious transport ships, aircraft carriers, patrol ships and submarines. They also provide naval ship repair and conversion activities. Boat manufacturers build boats, cabin cruisers, dinghies, jet boats, patrol boats and rowboats for navies and coast guards.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.