The employment in the UK ships and boats building sector is projected to experience a modest increase over the next five years. From 2024 to 2028, employment is forecasted to grow from 31.02 thousand persons to 31.15 thousand persons. Relative to 2023, these forecasted values suggest a slight but consistent upward trend in employment, with a year-on-year increase approximating 0.09% to 0.10%. The compounded annual growth rate (CAGR) over this period reinforces the stable growth outlook, with an average yearly increase of approximately 0.10%.
Future trends to watch for include:
- Technological advancements in shipbuilding, which could lead to changes in employment needs.
- Potential impacts of regulatory changes related to environmental and maritime safety.
- Global economic conditions that may affect demand for UK-built ships and boats.
- Strategies for attracting a skilled workforce amid an aging population in the sector.
