The employment in the ships and boats building sector in the US stood at 140,000 Full-Time Equivalent units (FTEs) in 2023. The past decade witnessed fluctuations in employment, with notable dips between 2015 and 2017, and stable yet modest growth since 2018. Year-on-year variations depict minor growths such as 3.68% in 2019, a slight decrease in 2020 by -1.42%, and more stability in recent years, with 0% growth in both 2022 and 2023. The compounded annual growth rate (CAGR) over the past five years is 0.58%.
Forecasts from 2024 to 2028 predict stable employment levels, with minimal variation at a 5-year CAGR of 0.14%. By 2028, employment is expected to reach 141,000 FTEs, indicating a slight total growth of 0.71% over five years.
Future trends to watch for include the impact of technological advancements in shipbuilding, shifts in demand due to geopolitical changes, and sustainability measures that could necessitate skill updates and potentially influence employment levels within the sector.
