Evaluation of Bangladesh Shipbuilding State and Major Challenges

The shipbuilding industry is considered as one of the most profitable and sustainable industries around the globe. Shipbuilding has long been an appealing industry for many develop and developing countries like Japan, South Korea, and China. Historically, this sector has lacked strong global regulation and often faced problems of over-investment, as it involves diverse technologies, stimulates numerous backward and forward linkage industries, creates significant employment opportunities, generates income, and remains global in nature. Such patterns have been evident among all major shipbuilding nations throughout history. Today, China is the global shipbuilding market leader. Bangladesh, endowed with its traditional shipbuilding expertise and glorious history, progressed to become a small but competitive player in the global market, though it could not sustain its momentum. The global shipbuilding industry is projected to reach approximately USD 200 billion soon, and Bangladesh holds the potential to secure at least USD 4 billion of this market share. By addressing challenges such as low productivity, the need for advanced technology integration, and safety standards, Bangladesh’s shipbuilding sector can significantly enhance its international competitiveness and contribute meaningfully to national development and economic growth. This study evaluates the status of local shipbuilding by depicting the challenges within the context of global trends, technological progress, and future market share.