Evaluation Of World Shipbuilding Industry And Opportunity For Bangladesh

Abstract

Shipbuilding is a low-tech and capital intensive industry. Shipbuilding is both promising and challenging industry in the World. Total global shipbuilding market size is US$ 1600 billion. If only 1% market share can be captured by Bangladesh it will be equal to US$ 16 billion. Bangladesh had an excellent history in shipbuilding since ancient. But this sector was disappeared because of technological changes in the world. The modern era of ship building industry started its journey from the western countries. But due to the global impact as the cost of everything went up, the trend of shipbuilding industry was shifted from west to east. Thus the countries like China, Korea, Singapore and Vietnam were dominating the sectors. At present, the countries like Bangladesh, India, Indonesia, Turkey and Brazil are trying to hold the surplus market of shipbuilding industry, especially those demands that are not entertained by the traditional shipbuilding nations. Shipbuilding industry of Bangladesh has all the potentials to flourish and penetrate the global markets. From analysis it can be predict that Bangladesh will be addressed as shipbuilding nation within 2016 and ranked within ten in global order in the year of 2021.