India's ship repair and maintenance services market is hugely driven by confluence of some factors acting in synergy that highlight the country's position amidst maritime industry. It is mainly due to the country's favourable geographic position, intensified sea traffic and governmantal measures of strengthening maritime infrastructure. The country's coastline and the abundance of ports secures the latter as a major player in the maritime trade. Since the maritime activities are scaling up, port capacity and infrastructure enlargement will not only ensure the ease of maritime activities but also create the need for ship repair and maintenance services. In reaction, shipowners and their operators are more inclined to use Indian facilities due to their cost-effectiveness and reliability. The evolving role of the Indian Navy and the Coast Guard also boosts the ship repair and maintenance services’ demand and hence, industry growth. The development of the naval fleet is an ever increasing, such capabilities are required to be technologically advanced and are efficient.
Through this process, state-of the-art shipyards with the capability to accommodate variety of commercial and defense vessels are established. While the industry is undergoing a technological transformation, the refit and maintenance sector in India is also witnessing modernization. Shipyards integrate with the latest tools like robotic and artificial intelligence to increase the efficiency and accuracy of the repair processes. This does not only attract domestic marine engineers but also makes India a strong contender in the world ship repair market. Furthermore, intensification of the environmental sustainability trend creates more demand for ship repair and maintenance that is green. The shipyards in India continuously respond to these environmental issues incorporating green technologies, for instance, eco-friendly paints and energy efficient propulsion systems.
In this issue, we acquaint you with the top companies from this field. After studying the industry landscape in-depth, Industry Outlook has zeroed in on the top companies that have excelled with their meticulous approach. Having proven their dedication in order to meet the customer’s expectations in an end-to-end manner, these companies have stood out from the crowd.
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