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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.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
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 (%) | |||||
Industry Insights
Major trends affect the Ship Building and Repairing industry include:- Increased environmental regulations
- Shift towards sustainable and eco-friendly materials
- Adoption of advanced manufacturing technologies like 3D printing
- Growing demand for autonomous and smart ships
- Rising emphasis on maritime safety norms and standards
- Expansion in maritime tourism and recreational activities
- Fluctuations in global trade affecting demand
- Scaling up of retrofitting services to comply with new regulations
- Integration of IoT and data analytics for predictive maintenance
- Investments in new ship designs, including hybrid and electric propulsion systems
- Increased military expenditures in naval vessels by various countries
- Consolidation of shipbuilding companies to optimize costs and resources
- Impact of global supply chain disruptions on material and component availability
- Growth in the offshore wind energy sector demanding specialized vessels
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.
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 Average | Percent of Sales (Industry Benchmark) |
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|---|---|---|
| Total Revenue | Order at top of page |
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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 | ||
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 Ratios | Industry 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). |
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| 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. |
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| Liquidity Ratios | Industry 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. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry 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. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| 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. |
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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.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 4% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| 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% | |||
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:
Innovation News
- Nov 23, 2021: Patti Marine Enterprises trademarks "PATTI MARINE" - Custom shipbuilding; Repair and maintenance of ships; Repair and maintenance of ships at shipyards; Ship building; Ship building services at shipyards; Shipbuilding
- Nov 23, 2021: Patti Marine Enterprises trademarks "PATTI MARINE ENTERPRISES" - Custom shipbuilding; Repair and maintenance of ships; Repair and maintenance of ships at shipyards; Ship building; Ship building services at shipyards; Shipbuilding
- Aug 25, 2020: Yachtcontroller trademarks "EZ DRIVE" - Boat thrusters, joysticks for boats, baffles adapted for boats for use in directing the flow of water, and brackets adapted for attaching a thruster to a boat
- Jun 04, 2020: Chesapeake Ship Building patents Passenger Vessel With Retractable, Concealable Bow Gangway And Method For Deploying, Retracting And Concealing A Passenger Vessel's Gangway
- Jun 04, 2020: Chesapeake Ship Building patents Passenger Vessel With Retractable, Concealable Bow Gangway And Method For Deploying, Retracting And Concealing A Passenger Vessel's Gangway
Recent Federal Contracts for Ship Building and Repairing
- Apr 02, 2024: OILKLEEN, LLC (Mooresville, NC) awarded $71,630
- Apr 02, 2024: PETERSON POWER SYSTEMS, INC. (San Leandro, CA) awarded $27,931
- Apr 02, 2024: GE ENERGY POWER CONVERSION USA INC. (Imperial, PA) awarded $76,871
- Apr 02, 2024: SEA SAFETY INTERNATIONAL, INC (Secaucus, NJ) awarded $14,254
- Apr 02, 2024: ALLIED SYSTEMS COMPANY (Sherwood, OR) awarded $62,693
- Apr 02, 2024: JAG INDUSTRIAL SERVICES, INC (Jonesville, MI) awarded $928,807
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