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China leads in shipbuilding capacity and output. Its vast industrial base and ability to produce a wide variety of vessels in large quantities make it the clear leader. As of 2023, China accounted for around 51% of the global shipbuilding market. South Korea follows closely, with a market share of approximately 28%.
Huntington Ingalls Industries, Inc. (HII) is the largest military shipbuilding company in the United States as well as a provider of professional services to partners in government and industry.
China has rapidly established itself as the worlds dominant shipbuilding power, marginalizing the United States and its allies in a strategically important industry. Chinas lead in the global commercial shipbuilding market is huge and growing.
Overview of the Shipbuilding Industry Major activities are in North Asia, with China, Japan, and South Korea leading. They have strong industrial capabilities, skilled workforces, and supportive policies, making them global leaders.
There has been little change at the top of the rankings. China continues to outpace Japan. Chinas shipowners have secured the countrys leading position with a fleet worth an impressive $255 billion, ahead of Japan, whose fleet reached almost $231.4 billion.
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Where are cruise ships built? Most cruise ships are built in Europe 98% ing to industry trade organization Cruise Lines International Association including by Chantiers de lAtlantique in France, Meyer Werft in Germany and Meyer Turku in Finland.
In February 2023, Mr. DIsernia announced his retirement and appointed his son, Joey DIsernia as CEO and Chairman of Eastern Shipbuilding Group, Inc.

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