Robotics in Shipbuilding Industry Business Vision in 2022
The robotics in the shipbuilding Industry size is set to gain impetus from the increasing need to accomplish various significant tasks, such as blasting, heavy lifting, and welding activities of marine propellers. In May 2020, for instance, Hyundai Heavy Industries declared that it will be the first company that will be using robotics in shipbuilding. It has completed testing a novel robotic system that will be able to shape the 3D curved surface of a vessel automatically. It will be done at the company’s shipyard in Ulsan.
High Demand for Collaborative Robots to Accelerate Growth
The rising demand for smaller robotic systems to weld parts of cargo ships is considered to be a major reason for the robotics in the shipbuilding Industry growth in the near future. Apart from that, the high demand for collaborative robots worldwide would also propel growth. But, the lack of a skilled workforce to handle robotics in shipbuilding may hinder growth.
The global robotics in shipbuilding market is projected to grow from $616.8 million in 2021 to $1001.4 million in 2028 at a CAGR of 7.74% in the forecast period
Various companies are facing disturbances in production and reduced demand as workers are heading home because of the COVID-19 pandemic. It has also caused passengers to stop traveling. Customers are either canceling or postponing the delivery of new aircraft.
The Industry for robotics in shipbuilding is divided on the basis of system, type, application, and geography. By type, it is segregated into welding & cutting robotics, painting robotics, wearable robotics & exoskeletons, and collaborative robotics. Based on the system, it is fragmented into a single robot system and a dual robot system. By application, it is trifurcated into commercial exploration, defense & security, and scientific research.
List of Manufacturers in 2022
Daewoo Shipbuilding & Marine Engineering (South Korea), Hyundai Heavy Industries (South Korea), Hyundai Samho Heavy Industries (South Korea), Hyundai Mipo (South Korea), Imabari Shipbuilding (Japan), Mitsubishi Heavy Industries, Ltd. (Japan), Oshima Shipbuilding (Japan), Samsung Heavy Industries(South Korea), Other key Industry players
This report includes in-depth information about robotics in the shipbuilding industry. The data present in it is associated with drastic changes in material usage, novel product launches, and technological advancements. It offers dynamics based on multiple factors, such as opportunities, challenges, drivers, and restraints. In addition to that, it will deliver a complete insight from the supply side respondents related to Industry share, distribution, and size.
Presence of Reputed Manufacturers in South Korea to Help Asia Pacific Lead
Geographically, Asia Pacific is anticipated to be the fastest-growing region in the upcoming years because of the increasing shipbuilding stake of South Korea globally. A report by the United Nations Conference on Trade and Development (UNCTAD) mentions that South Korea and China account for approximately 76% of the global shipbuilding stake. Besides, the presence of prominent manufacturers of robotics in shipbuilding, such as Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering in South Korea would aid growth.
Europe, on the other hand, is likely to register remarkable growth in the forthcoming years. This is attributable to the surging demand for goliath crane robotic systems and other industrial systems in France and the U.K.
Key Players Focus on Creating Unique Robotics to Improve Operations
The Industry for robotics in shipbuilding houses a large number of companies that are mainly focusing on the development of state-of-the-art robots to enhance operations and repair various parts of a ship. This way, they will also be able to generate more sales.
Below is one of the latest industry developments:
- April 2018:University of Limerick (UL) developed a novel underwater robot worth €2-million at the docks of Limerick city. The project was funded by the Science Foundation Ireland (SFI). It can easily operate in challenging tidal, waves, and wind conditions. It will be extensively used to inspect, maintain, and repair facilities of marine renewable energy.