From 2013 to 2023, the number of employees in ships and boats building in Canada experienced varied growth. Initially declining by 6.18% in 2013, the industry saw an overall upward trend with periodic fluctuations. Notable growth years included 2014 with an 11.2% increase and 2017 with a 14.56% increase. Recent years from 2019 to 2023 showed more stable growth, culminating in a workforce of 10.01 jobs in 2023. The 5-year CAGR from 2018 to 2023 stood at 3.18%, indicating steady industry expansion.
Future trends to watch for:
- The projected 5-year CAGR for the forecast period to 2028 is 1.45%, suggesting moderate growth.
- Watch for advancements in shipbuilding technology and potential industry investments which could impact employment rates.