LONDON--(BUSINESS WIRE)--Known to be one of the finest producers of military and commercial fleets, the US shipbuilding industry has been facing a series of challenges, including rising costs, in recent years. Factors such as material and schedule delays, starting production with immature designs, inexperienced labor force, and reduced productivity contribute to the rising costs and continuing to erode the budgets and overall profitability of the US shipbuilding industry. Infiniti’s competitive benchmarking study enables shipbuilding companies to efficiently tackle the increasing costs and take the appropriate measure to address these and other challenges in the US shipbuilding industry.
To leverage Infiniti’s expertise in identifying and establishing the ideal measures to overcome challenges and rising costs in the US shipbuilding industry, request a free proposal.
“Roadblocks to growth faced by players in the US shipbuilding industry involve factors such as unstable and declining build rate, lack of appropriate competitive benchmarking, and suboptimal acquisition strategies,” says a shipbuilding industry expert at Infiniti Research.
Business Challenge:
The client, a US shipbuilding company, was engaged in building and repairing vessels of assorted sizes and utility. The client sought to understand how key players in the shipbuilding industry performed and tackled business challenges. The client also witnessed a decline in productivity, with outputs tailing by 40% in comparison, and sought to tackle cost growth by identifying key cost drivers and take corrective measures. Therefore, the US shipbuilding industry client approached experts at Infiniti research to leverage their expertise in offering a competitive benchmarking study. During the six-week engagement, the client also wanted to access the US private shipyards, improve operating margins, and identify DoD, Navy, and industry actions and contact incentives that can be implemented.
Our Approach:
Infiniti’s competitive benchmarking experts developed a comprehensive approach to assist the US shipbuilding industry client. The approach included the following:
- Undertaking a comprehensive competitive benchmarking study with exhaustive secondary research from proprietary and open source information sources.
- In-depth market research to assess ten leading international shipyards, and the seven major US shipyards to understand key product lines and compare shipbuilding practices
- An industry best practice assessment to identify key strategies and best practices followed by international shipbuilding companies
- A market opportunity analysis to analyze various growth opportunities in the US shipbuilding industry
Business Outcome:
With Infiniti’s competitive benchmarking study, the US shipbuilding industry client successfully implemented strategies to enhance overall productivity. The client also gained a comprehensive understanding of how they compared to top-performing shipbuilding companies and replicated their cost-cutting strategy into the business. Additionally, with the help of Infiniti’s experts’ insights, the shipbuilding company identified the right suppliers to procure good quality materials at low costs, which brought down the overall cost of production. The company also revamped design implementation strategies by understanding the changing market requirements and discarding obsolete segments.
Further, the competitive benchmarking study enabled the US shipbuilding industry client to:
- Identify unmet market needs and key growth segments before competitors
- Improve their operating margins by 10% in each quarter
- Increase productivity by 31% within seven months
Speak to industry experts to gain a comprehensive understanding of the importance of a competitive benchmarking study in the US shipbuilding industry, how it can help your organization grow.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
