A SWOT Analysis of the Growing Shipbuilding Industry with Top Players Analysis
The shipbuilding industry in India is poised for significant growth, driven by a combination of government support, strategic advantages, and increasing global demand. The Indian shipbuilding industry has evolved considerably over the past two decades. According to research reports, the current market value was USD 90 million in 2023 , the market is projected to surge to USD 130 million by 2028 , reflecting an extraordinary compound annual growth rate (CAGR) of 6.7%. This growth trajectory is largely attributed to India's strategic location along major shipping routes, competitive labour costs, and government initiatives aimed at boosting indigenous shipbuilding capabilities. Shipbuilding Market Size Trends Driving Market Growth in Shipbuilding Industry Several key trends in Indian shipbuilding market : Government Support: Initiatives such as the Scheme for Financial Assistance to Shipyards (SFAS) and policies promoting indigenous capabilities are critical in driving growt...