Analysis of Bangladesh Shipbuilding Industry in Contest of Global Perspective

The shipbuilding industry has consistently drawn interest from developing nations. Historically, it has lacked international oversight and often suffers from over-investment due to its involvement in various technologies, support for small industries, employment of many workers, income generation, and its global scope. This pattern is common among leading, successful shipbuilding countries. In 1892, the UK produced 80% of the world's ships by gross tonnage. After World War I, the United States became the central shipbuilding hub. During World War II, the US market share peaked at 85-90%. Following the war, the US share declined sharply; in the 1950s and 1960s, Japan utilised shipbuilding to rebuild its industry and emerged as a market leader. Then, in the 1970s and 1980s, South Korea made shipbuilding a strategic sector, taking the lead. Later, China adopted similar policies, accompanied by significant state-backed investments in the 2010s, and has remained the leader to this day. Bangladesh, with its substantial shipbuilding capacity, has grown significantly and is now a small yet competitive player in the global market. The global shipbuilding market is projected to surpass an impressive USD 500 billion in the near future, highlighting its significant growth potential and resilience, with Bangladesh potentially capturing USD 4 billion. This study assesses the status of local shipbuilding within the context of the global market perspective