IBISWorld Platform
Answer any industry question in minutes with our entire database at your fingertips.
Ship Building in Canada Industry Data and Analysis
Shipbuilders design, build and repair ships and other vessels for military and commercial clients. Long project lead times, primarily for defense contracts, have led to a consistent flow of revenue, keeping shipyard revenue stable despite supply chain disruptions, climbing interest rates, geopolitical uncertainty and other exogenous shocks. Even so, the industry struggles with foreign competition, with both low-cost producers and maritime powerhouses threatening commercial, civil or defence markets. In an effort to rebuild its Navy and Coast Guard, the federal government launched the extensive National Shipbuilding Strategy (NSS) and the industry was able to begin its expansion, guiding employment and establishment growth. Overall, revenue has climbed at an expected CAGR of 0.7% to $3.0 billion through the current period, including a 1.9% jump in 2025, where profit recovered to 2.8%.
Access this data your way
The Ship Building in Canada Industry analysis is available in multiple formats to fit seamlessly into your workflow.
API Data Delivery
Feed trusted, human-driven industry intelligence straight into your platform.
Integrations
Streamline your workflow with IBISWorld’s intelligence built into your toolkit.
What's included in this industry analysis
IBISWorld's research coverage on the Ship Building industry in Canada includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released June 2025.
About this industry
What's this industry report about?
The Ship Building industry in Canada operates under the NAICS industry code 33661aCA. Companies in the Ship Building industry in Canada build, repair, convert and modify ships in shipyards, including warships, icebreakers and ferries. Shipyards are fixed facilities with dry docks and fabrication equipment capable of building ships, defined as watercraft suitable or intended for purposes other than personal or recreational use. This does not include boat building activities. Related terms covered in the Ship Building industry in Canada include barge, shipyard and panamax-size.
What's included in this industry?
Products and services covered in Ship Building industry in Canada include Civil ship building , Offshore oil and gas structures and components and Civil repair and maintenance services.
What companies are included in this industry?
Companies covered in the Ship Building industry in Canada include Irving Shipbuilding Inc., Seaspan ULC and Chantier Davie Canada Inc.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Ship Building industry in Canada.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Ship Building industry in Canada.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Ship Building industry in Canada.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Ship Building industry in Canada. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Ship Building industry in Canada. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Ship Building industry in Canada. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Ship Building industry in Canada. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Ship Building industry in Canada.
Trusted by industry professionals
More than 6,000 businesses use IBISWorld to shape local and global economies
We were able to supplement our reports with IBISWorld’s information from both a qualitative and quantitative standpoint. All of our reporting now features some level of IBISWorld integration.
IBISWorld delivers the crisp business knowledge we need to drive our business. Whether it be serving up our major clients, winning new business or educating on industry issues, IBISWorld brings real value.
IBISWorld has revolutionised business information — which has proved commercially invaluable to exporters, investors and public policy professionals in Australia and overseas.
When you’re able to speak to clients and be knowledgeable about what they do and the state that they operate in, they’re going to trust you a lot more.
Frequently Asked Questions
What is the market size of the Ship Building industry in Canada in 2026?
The market size of the Ship Building industry in Canada is $3.0bn in 2026.
How many businesses are there in the Ship Building industry in Canada in 2025?
There are 268 businesses in the Ship Building industry in Canada, which has grown at a CAGR of 3.3 % between 2020 and 2025.
How may import tariffs affect the Ship Building industry in Canada?
The Ship Building industry in Canada is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Ship Building industry in Canada?
The Ship Building industry in Canada is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Ship Building industry in Canada grown or declined over the past 5 years?
The market size of the Ship Building industry in Canada has been growing at a CAGR of 0.7 % between 2020 and 2025.
What is the forecast growth of the Ship Building industry in Canada over the next 5 years?
Over the next five years, the Ship Building industry in Canada is expected to grow.
What are the biggest companies in the Ship Building industry in Canada?
The biggest companies operating in the Ship Building industry in Canada are Irving Shipbuilding Inc., Seaspan ULC and Chantier Davie Canada Inc.
What does the Ship Building industry in Canada include?
Civil ship building and Civil repair and maintenance services are part of the Ship Building industry in Canada.
Which companies have the highest market share in the Ship Building industry in Canada?
The company holding the most market share in the Ship Building industry in Canada is Irving Shipbuilding Inc..
How competitive is the Ship Building industry in Canada?
The level of competition is moderate and increasing in the Ship Building industry in Canada.
Cut through the noise with intelligence you can trust
