Precious cargo: Improvements in port infrastructure will buoy industry demand

The Dry Docks and Cargo Inspection Services industry provides maintenance, cargo inspection and other support services to commercial and government watercrafts. In recent years, this industry has benefited from rising trade activity, which has been fueled by a recovering domestic economy and increasing levels of consumption and industrial production. Collectively, these factors have caused more cargo ships to be engaged in trade, increasing demand for ship repair and other industry services. Industry revenue is largely driven by the amount of goods entering and exiting domestic ports. Over the next five years, the industry is expected to continue to grow...purchase to read more.

Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 12-17
3.4%
Forecast Growth 17-22
Profit
Employment
10,809
Businesses
772

Industry Threats & Opportunities

  • Industry revenue is largely driven by the volume of goods entering and exiting domestic ports
  • Ports in Mexico and Canada have posed a growing threat to industry operations in recent years
  • Many industry operators will benefit from an increase in federal funding for defense
  • Industry Report - Industry SWOT Analysis Chapter

    The Dry Docks and Cargo Inspection Services industry is in the mature stage of its life cycle. Over the five years to 2022, the industry's contribution to the overall economy, as measured by industry value added, is expected to increase at a modest annualized rate of 0.3%. Comparatively, US GDP is expected to grow at an annualized rate of 2.0% during the same period. While the contrast between these two growth rates is generally indicative of an industry in decline, a general slowdown in industry-relevant technological innovation and full market acceptance of industry services are reflections of the industry's ongoing maturity...purchase to read more.

    Additional Insights for the Dry Docks & Cargo Inspection Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Dry Docks & Cargo Inspection Services Industry are

  • Provision of development programs for personnel
  • Access to multi-skilled and flexible workforce
  • Having links with suppliers
  • IBISWorld analysts also discuss how external factors such as Total trade value and Industrial production index in the Dry Docks & Cargo Inspection Services industry impact industry performance..

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    What's in this report

    What is the Dry Docks & Cargo Inspection Services Industry?

    This industry provides support services to water transportation industries including ship maintenance and repair, towing, cargo inspection and surveying. Shipbuilding and other manufacturing activities are not included in this industry.

    Industry Products
  • Repairs from floating dry docks
  • Repairs from graving dry docks
  • Transportation and towing services
  • Industry Activities
  • Ship repair and maintenance
  • Marine cargo checks and surveys
  • Transportation and towing services
  • Ship scaling
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Total trade value
  • Industrial production index
  • Consumer spending
  • Federal funding for defense
  • Demand from water transportation
  • World price of crude oil

  • Current Performance
  • Repairing profit
  • Smaller budgets, larger ships
  • Limited market growth
  • Chart: Revenue Growth

  • Industry Outlook
  • Improving economic climate
  • Trade developments
  • Ports, profit and participation
  • Table: Dry Docks & Cargo Inspection Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Dry Docks & Cargo Inspection Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Ocean & Coastal Transportation
  • Finance and Insurance

  • Key Selling Industries
  • Port & Harbor Operations
  • Ship Building

  • Products & Services
  • Repairs from floating dry docks
  • Repairs from graving dry docks
  • Transportation and towing services
  • Other
  • Chart: Dry Docks & Cargo Inspection Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Cargo ships 5,100 TEU and under
  • Government
  • Cruise ships and other passenger vessels
  • Cargo ships 5,100 and over
  • Other
  • Chart: Major Market Segmentation for the Dry Docks & Cargo Inspection Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRent and utilitiesOther
  • Chart: Cost Structure Benchmarking – Sector vs Dry Docks & Cargo Inspection Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Dry Docks & Cargo Inspection Services Industry

  • Industry Globalization
    Intertek Group PLC, BAE Systems PLC, Huntington Ingalls Industries,
  • Table: Intertek Group PLC - financial performance
  • Table: BAE Systems PLC - financial performance
  • Table: Huntington Ingalls Industries - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Dry Docks & Cargo Inspection Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Dry Docks & Cargo Inspection Services Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Total trade value (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Ballast
  • Most ships are equipped with a ballast tank, a compartment within the ship that holds water. As the ship moves, water flows in and out of the tank, improving the ship's balance and stability.
  • Floating Dry Dock
  • A type of transportable dry dock used for the construction, maintenance and repair of watercraft by submerging under the vessel and subsequently rising, lifting the boat out of the water for repairs.
  • Graving Dry Dock
  • A basin in shipyards, used for the construction, maintenance, and repair of ships, boats and other watercraft by filling the basin with water for ship entry that is subsequently drained for repairs.
  • Scaling
  • A cleaning process that involves using chemicals or power blasters to remove rust and scale.
  • Twenty-Foot Equivalent Unit (Teu)
  • A unit of carrying capacity for container ships. This unit measures the number of standard 20x8x8 foot containers a ship can transport.
  • Ultra Large Container Vessel (Ulcv)
  • Term for the largest classification of container ships. Ships in this category generally boast carry capacities of over 14,500 TEU.
  • What Our Customers Say

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    IBISWorld’s industry research report on Dry Docks & Cargo Inspection Services contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.

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    This report on Dry Docks & Cargo Inspection Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Dry Docks & Cargo Inspection Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

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