Shipbuilding News

Recent industry report about Shipbuilding company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Shipbuilding Market industry experts.

Shipbuilding News

  • August 2023: The Canadian government announced that it would invest CAD 463 million (USD 345 million) in shipbuilding infrastructure to move forward with the Surface Combatant (CSC) program. It calls for the construction of 15 new warships that will be a key component of the future Royal Canadian Navy. The funds will be used to prepare the Irving Shipyard and adjacent facilities in Nova Scotia for construction, which is now slated to begin next year for the program.
  • May 2023: Vard Marine Inc., in collaboration with Team Vigilance partner firms Heddle Shipyards, Thales Canada, SH Defence, and Fincantieri, unveiled the Vigilance Offshore Patrol Vessel at CANSEC 2023. Team Vigilance partner firms collectively bring extensive and significant capabilities and expertise to bear in naval ship design, Canadian and worldwide construction, combat and offboard system integration, modular payload systems, and life-cycle solutions.
  • May 2023: Garden Reach Shipbuilders and Engineers Ltd established the GRSE Accelerated Innovation Nurturing Scheme to find and stimulate the creation of new solutions as part of the shipyard's technological development activities. GAINS intends to address current and emerging ship design and construction issues while simultaneously accomplishing the goals of Atmanirbhar Bharat.
  • March 2023: The Ministry of Ports, Shipping, and Waterways (MoPSW) in India launched the 'Green Tug Transition Programme' (GTTP) to make India a global hub for building green ships. The GTTP will convert all tugboats operating in the country into 'Green Hybrid Tugs' that run on non-fossil fuels such as Methanol, Ammonia, and Hydrogen.

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  • June 2023: Mercedes-Benz revealed the AMG EQE 53 4MATIC+ SUV. Mercedes-AMG's latest model stands out as the most adaptable electric vehicle in their lineup, combining a customizable cabin with a performance-oriented drive concept.
  • May 2023: Aston Martin announced a collaboration with Bowers & Wilkins as its audio partner to provide a new surround sound system in its vehicles. They will concentrate on creating an optional surround sound system upgrade, as well as technical innovation and great performance. Aston Martin will use a Bowers & Wilkins audio system in future vehicles in the coming years.
  • August 2022: In anticipation of the IAA Transportation 2022, ZF Friedrichshafen AG (ZF) stated that its Commercial Vehicle Solutions (CVS) division had exhibited the most modern mobility innovations. The all-electric powertrain combines cutting-edge control technologies to reimagine the dynamic, elegant, and precise mix that marks BMW M automobiles as high-performance sports cars.
  • July 2022: Ford presented the new F-150 Raptor R, which will be powered by a 5.2 l V8 engine producing 700 HP. Its launch is the consequence of consumer demand for a Raptor with a V8 engine. Ford's new F-150 Raptor R includes characteristics of previous versions with a performance increase.
  • June 2023: Volta Trucks announced a partnership with METRO Germany, a major international food wholesaler. The 16-tonne all-electric Volta Zero will be deployed for METRO in North Rhine-Westphalia. It will be expanded to Bavaria and Berlin as more vehicles join the fleet as METRO Germany plans to expand its delivery fleet sustainably.
  • June 2023: Hyzon Motors Inc. and Performance Food Group, Inc. (PFG), one of North America's largest food and food service distribution companies, announced an agreement for five fuel-cell electric vehicles (FCEV).
  • April 2023: Toyota Australia brought the FCV Express Diner, an innovative fuel cell food truck concept, to a national Hydrogen Showcase in Melbourne, demonstrating a variety of potential applications for its hydrogen fuel cell technology. The HiAce-based FCV Express Diner concept, a Caetano 33-seat commercial bus, a Toyota forklift, an EODev stationary power generator, and the Toyota Mirai FCV sedan were among the Toyota fuel cell vehicles on display.
  • June 2022: Gorkovsky Avtomobilny Zavod (GAZ) introduced new vehicle models for goods delivery and retail. Among the vehicles presented is the food truck on the GAZelle NN chassis. The modern and distinctive design of the food truck on the GAZelle NN chassis includes a flexible layout. It allows the choice of customized dimensions depending on the needs of a particular business.
  • August 2023: The Canadian government announced that it would invest CAD 463 million (USD 345 million) in shipbuilding infrastructure to move forward with the Surface Combatant (CSC) program. It calls for the construction of 15 new warships that will be a key component of the future Royal Canadian Navy. The funds will be used to prepare the Irving Shipyard and adjacent facilities in Nova Scotia for construction, which is now slated to begin next year for the program.
  • May 2023: Vard Marine Inc., in collaboration with Team Vigilance partner firms Heddle Shipyards, Thales Canada, SH Defence, and Fincantieri, unveiled the Vigilance Offshore Patrol Vessel at CANSEC 2023. Team Vigilance partner firms collectively bring extensive and significant capabilities and expertise to bear in naval ship design, Canadian and worldwide construction, combat and offboard system integration, modular payload systems, and life-cycle solutions.
  • May 2023: Garden Reach Shipbuilders and Engineers Ltd established the GRSE Accelerated Innovation Nurturing Scheme to find and stimulate the creation of new solutions as part of the shipyard's technological development activities. GAINS intends to address current and emerging ship design and construction issues while simultaneously accomplishing the goals of Atmanirbhar Bharat.
  • March 2023: The Ministry of Ports, Shipping, and Waterways (MoPSW) in India launched the 'Green Tug Transition Programme' (GTTP) to make India a global hub for building green ships. The GTTP will convert all tugboats operating in the country into 'Green Hybrid Tugs' that run on non-fossil fuels such as Methanol, Ammonia, and Hydrogen.
  • June 2023: Hiphi released European pricing for its X and Z versions, which are now available to purchase in Germany and Norway. The HiPhi X and HiPhi Z will be followed by the HiPhi Y, which was shown at the Shanghai Auto Show last month. It will be ready for order by the end of 2023, fully planned and engineered for European markets.
  • April 2023: Ford stated that it would launch worldwide exports of the F-150 Lightning electric truck for the first time in Norway, where electric vehicles account for 80% of new car sales. Customers in Norway will be able to purchase the F-150 Lightning Lariat Launch Edition solely in Super Crew Cab body type via Ford EV dealers in Norway. It will also be able to service electric F-150 Lightning, Mustang Mach-E, and E-Transit customers.
  • February 2023: JAC Motors announced the debut of its 500 e-JS4 passenger automobiles, which will be exported to Norway. JAC's entry into Northern and Western Europe, as well as other conventional car industry giants, is marked by the shipment of these new energy-electric vehicles to Norway, France, and Spain.
  • January 2023: BharatBenz showcased their latest high-performance construction and mining trucks at Bauma 2023. Among the impressive lineup were the 3532CM and 2832CM mining tippers, along with the 5532 Tip Trailer. These cutting-edge vehicles come equipped with a robust 320hp BS VI diesel powertrain, providing an exceptional level of high wheel-end torque. This feature enables these trucks to navigate and conquer even the most challenging and steep mining roads with ease.
  • September 2022: AB Volvo made a significant announcement regarding the launch of electric versions of their renowned heavy-duty truck lineup, including Volvo FH, Volvo FM, and Volvo FMX. The company took a step towards sustainable transportation by initiating a series of production of these electric trucks. This move is a testament to Volvo's commitment to reducing carbon emissions and embracing eco-friendly technologies in the commercial trucking industry.
  • June 2022: Eicher Trucks and Buses, a division of VE Commercial Vehicles Limited, unveiled their latest offering, the Eicher Pro 5000 series. This impressive range of heavy-duty trucks, ranging from 16T to 40T, is powered by the highly efficient E694 engine integrated with i3 EGR technology from Volvo Group's EMS 3.0. The engine is engineered to meet BSIV requirements, ensuring compliance with emissions standards while delivering outstanding performance. The introduction of the Eicher Pro 5000 series signifies Eicher's dedication to providing robust and reliable trucks tailored to meet the demanding needs of modern transportation.
  • April 2023: Proton Holding launched the Proton X90, a mild-hybrid car, in the Malaysian market.
  • December 2022: Mazda Motor Corporation introduced a new hybrid vehicle model equipped with a strong hybrid mechanism that will allow it to be driven solely by a motor around 2025. The company plans to develop the HV in-house, adopting a "mild hybrid" mechanism to support the engine with a motor.
  • November 2022: SAIC Maxus officially launched its new Lingdi mid-to-large-sized SUV in China. The vehicle features SAIC Maxus' mild hybrid diesel-powered Xuanyuan Power Technology and a 48V hybrid architecture.
  • February 2022: Danfoss made a significant announcement, revealing the commencement of mass production for its EM-PMI240-T180 motor under the Editron division. The motor is specially designed for electric and hybrid drivetrains in buses, and this production milestone was achieved at their Nanjing factory, located in the eastern Jiangsu province.
  • January 2022: King Long successfully delivered its carbon-fiber new energy buses to Jiaxing Haiyan Hongyuan Public Transport Co., Ltd. (referred to as Haiyan Public Transport) for operational use. These buses, measuring 10 meters in length, come equipped with an independent suspension driving system, which allows them to carry the same number of passengers as a 12-meter bus. By utilizing an in-wheel driving system that reduces the bus's weight by over 800 kg, King Long's carbon-fiber new energy bus achieved an impressive energy consumption reduction of 14%-18%.
  • June 2022: Volkswagen premiered the new ID.4 GTX fully electric vehicle with dual motor-based all wheel drive. The car comes equipped with 3D real-time graphics system that is expected to improve vehicle and passenger safety.
  • April 2022: Audi has just unveiled the third member of the sphere family of concept cars. As the sphere family's starting point is to investigate the cutting edge of technology, the concept car may be self-driving. 5.51 metres long, 2.01 metres wide, and 1.87 metres height make up the Audi urban sphere idea. Nearly 400 horsepower and 690 Nm of torque are produced by the concept's two electric motors.
  • February 2022: Hyundai Motor Company and Shell plc (Shell) have formed a new strategic partnership to look into ways to offer lower-carbon products and services, as well as reduce emissions across their activities. The MOU will draw on the firms' expertise in electric vehicle (EV) charging, hydrogen, low-carbon energy solutions, and digital technologies as possible prospects for both companies to cut carbon emissions.
  • In June 2022, TIER, the world's leading shared micro-mobility provider that offers electric vehicles ranging from e-scooters to e-bikes, announces its arrival to the Kingdom of Saudi Arabia through a partnership with Sela Sport Company.The partnership was initiated by SoftBank Investment Advisers in Riyadh following SoftBank's investment in Tier in November 2020.
  • In December 2021, Fenix, a leading electric mobility platform in the Middle East, has launched on-demand shared electric bikes to residents and visitors in select areas of the UAE and Qatar.In Qatar, Fenix has entered into an exclusive micromobility partnership with Aspire Zone in Doha, to provide visitors with a safe, convenient and efficient means of transport across the sports complex via its Fenix e-bikes.
  • In March 2022, Inchcape announced that it is pulling out of the Russian market as a result of the ongoing conflict in Ukraine. The company stated that in light of the current circumstances, they have concluded that the Group's ownership of its business interests in Russia is no longer tenable.
  • In December 2021, Russia's largest car dealer Rolf has been sold to rival KlyuchAvto for an undisclosed amount. The announcement states that Alfa Bank will finance the deal. Unnamed sources value the deal at USD 400 million - USD 500 million, which is at least three times less than Petrov had initially planned to cash in from selling the company.

Shipbuilding Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)