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With mounting geopolitical tensions worldwide defense shipbuilding has assumed a lot of importance.  It entails construction and modification of oceangoing vessels and these operations are conducted in specialized facilities called shipyards. A lot of nations are signing bilateral cooperation in defense shipbuilding and this has been spurring the market globally.

Recent noticeable trends in the industry include emergence and adoption of cutting-edge shipbuilding robotics, launching ships with airbags, soaring demand for LNG powered engines, and green shipbuilding techniques. Factors posing a hindrance to the industry are the alarming instances of cyber breaches, environmental regulations, and increasing write-downs on prevailing backlogs.

The defense shipbuilding industry after taking a hit from the economic downturn precipitated by the 2008 banking collapse is back on the growth track again. Realizing this, many prominent names are betting big on the market. Japan, China, and South Korea are three key regions in terms of shipbuilding capacity.