Asia’s decades-long dominance of the shipbuilding industry is well documented, with South Korea and China in particular having long since established themselves as global shipbuilding powerhouses. Nevertheless, European shipyards remain strong, with an annual production value of around €43 billion and a collective civil and naval orderbook value surpassing that of their Asian counterparts.
Where Europe truly outcompetes Asia – and every other world region – is in marine equipment manufacture and supply. Europe is home to around 22,000 manufacturers and suppliers of marine equipment that together employ over 320,000 people, have an annual production value of approximately €70 billion and represent 50% of the global market share.
View entirety: gCaptain