Shipbuilding and Repair Services in New Zealand - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

Buoyant: Babcock's long-term contract with the New Zealand Defence Force has shored up revenue

Revenue for the Shipbuilding and Repair Services industry has expanded in recent years. Strong growth in capital expenditure on defence has supported services provided to defence markets. As part of the Defence Capability Plan 2019, the Central Government (Te Kawanatanga o Aotearoa) allocated considerable funding to upgrade navy fleets and capabilities. But over the short term, most of the funding relevant to the industry has been used for repair services, which is a smaller contributor to industry revenue than shipbuilding. Industry-wide revenue is expected to climb at an average annualised 4.5% over the past five years, to total $212.2 million in 2023-24, when revenue is anticipated to jump by 1.3%.

Industry operators manufacture or repair vessels with over 50 tonnes displacement. The industry also includes firms that manufacture major components for large vessels.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.