$5.1bn
$XXX.Xm
10,583
416
$X.Xbn
The Shipbuilding and Repair Services industry performance is heavily influenced by government funding, particularly lucrative contracts for supplying ships and submarines to the Royal Australian Navy (RAN). Shipbuilders have seen a significant surge in revenue over recent years, thanks to the Naval Shipbuilding Plan (NSP) and the 2022 Defence Strategic Review (DSR). These planning infrastructures brought an element of unpredictability to numerous projects because of the Federal Government's decision to shift defence financing. Nonetheless, the DSR has underlined the focus on building a sturdy maritime division, aligning with the ambitions of the AUKUS alliance. An escalation in naval procurement investment, and an amplified emphasis on naval shipbuilding and sustainment, alongside funding for AUKUS nuclear submarines, has propelled revenue since 2022-23. Overall, revenue is expected to expand at an annualised 2.2% over the five years through 2023-24 to $5.1 billion. This trend includes an anticipated hike of 20.3% in the current year owing to higher demand from defence and water freight transport.
Industry revenue has grown at a CAGR of 2.2 % over the past five years, to reach an estimated $5.1bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
BAE Systems Australia | 986.0 | |
ASC | 866.4 | |
Thales Australia | 552.2 |
To view the market share and analysis for all 6 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including Military shipbuilding, Submarine construction and Commercial shipbuilding. Military shipbuilding is the largest segment of the Shipbuilding and Repair Services in Australia.
Military shipbuilding stagnates in preparation for upcoming government contracts
Industry firms primarily manufacture or repair ships with a displacement of 50 tonnes or more. Builders that manufacture submarines and major components for ships and submarines are also included in the industry.
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ANZSIC 2391 - Shipbuilding and Repair Services in Australia
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Including values and annual change:
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Key data sources in Australia include:
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These sources include:
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The market size of the Shipbuilding and Repair Services industry in Australia is $5.1bn in 2024.
There are 416 businesses in the Shipbuilding and Repair Services industry in Australia, which has declined at a CAGR of 0.4 % between 2018 and 2023.
The market size of the Shipbuilding and Repair Services industry in Australia has been growing at a CAGR of 2.2 % between 2018 and 2023.
Over the next five years, the Shipbuilding and Repair Services industry in Australia is expected to grow.
The biggest companies operating in the Shipbuilding and Repair Services market in Australia are BAE Systems Australia, ASC and Thales Australia
Military shipbuilding and Submarine construction are part of the Shipbuilding and Repair Services industry.
The company holding the most market share in Australia is BAE Systems Australia.
The level of competition is moderate and increasing in the Shipbuilding and Repair Services industry in Australia.