What are the World's Biggest Ship Manufacturing Companies?

Ship manufacturing is a large part of industrial manufacturing, with the vessels being needed for key sectors such as oil and gas upholding global supply chains as well as defence sectors and cruise ships. 

According to McKinsey, concerns about geopolitical tensions, potential shifts in the balance of seafaring power and emerging technologies that are expected to enable new types of military vessels could all encourage the US, as well as other countries around the world, to consider reinforcing domestic shipyards’ capacities and capabilities.

US President Donald Trump's 2025 Executive Order titled “RESTORING AMERICA'S MARITIME DOMINANCE” says: “Recent data shows that the United States constructs less than 1% of commercial ships globally, while the People's Republic of China is responsible for producing approximately half.”

As the US looks to scale its own shipbuilding operations, the industry largely remains centred in Asia, with Japan, China and South Korea leading in manufacturing high-tech vessels. 

Hyundai Heavy Industries

Founded in 1972, Hyundai Heavy Industries is Korea’s largest shipbuilding company. 

It operates the world’s largest shipyard as an industry leader in the ship construction, offshore plant, engine and machinery sectors.

With US$17.42bn in contracts awarded in 2025 and more than 19,000 employees, it is a global leader in the industry. It developed the HiMSEN engine with proprietary technology. 

It makes ships including LNG carriers, LPG carriers and ethane carriers, as well as drillships and containerships.

The company also aims to shape changes in the future maritime industry through ongoing technological innovation and the development of environmentally friendly and digital solutions.

China State Shipbuilding Corporation

Founded in 1982, the business sectors of the China State Shipbuilding Corporation are defence products, merchant ships, offshore engineering products as well as marine equipment and applications. 

In merchant ships alone its portfolio includes luxury cruise ships, liquefied gas carriers, bulk carriers and oil vessels. 

In November 2025, China State Shipbuilding Corporation partnered with 10 subsidiary manufacturing enterprises under its umbrella to sign 35 contracts with 24 international suppliers from 13 countries and regions.

At a total value of US$610m the agreements covered key shipbuilding equipment, including marine engines, generators, communication and navigation systems, cargo handling systems and alarm systems.

Hanwha Ocean

Since its inception in 1973, the South Korean Hanwha Ocean has delivered more than 1,400 vessels worldwide.

It builds commercial vessels such as LNGs, naval vessels and containerships as well as FLNGs (Floating Liquefied Natural Gas). 

Hanwha Ocean’s shipyards cover an area of approximately 5,000,000 m², employing around 31,000 people. It builds roughly 45 commercial and naval ships each year. 

Hanwha Ocean aims to become South Korea’s leading defence company. In January 2026 Hanwha Ocean signed an agreement to provide Algoma Steel with up to US$250m in support for advancing Algoma’s diversification strategy and domestic supply for Canadian defence.

In a statement released at the time of the deal, Hee Cheul Kim, President & CEO of Hanwha Ocean, said: “By anchoring steel production, infrastructure and long-term sustainment in Canada, we are committed to strengthening Canada’s industrial resilience and supporting a submarine capability that Canadians can rely on today and for generations.”

Samsung Heavy Industries

Established in 1974 in South Korea, Samsung Heavy Industries has the world's largest share in the drillship, LNG carrier and FPSO (Floating Production, Storage and Offloading) markets.

Since its inception, it has secured orders for more than 1,234 ships and offshore facilities and successfully delivered in excess of 1,126 ships.

Samsung Heavy Industries maintains a unique position in the market for eco-friendly and high-specification LNG carriers, including the world's largest 266,200m³ class LNG carrier, electric-powered LNG carriers, as well as eco-friendly and high-efficiency engine LNG carriers.

Among its accolades, Samsung Heavy Industries developed and built the world's first Arctic shuttle tanker.

Mitsubishi Heavy Industries

Established in 1884 in Japan, Mitsubishi Heavy Industries now employs more than 77,00 people in roughly 300 different locations.

Mitsubishi Heavy Industries manufacture a wide range of products ranging from naval ships, commercial ships, engines and marine machinery. Its portfolio also includes nuclear power systems, defence aircraft and missile systems. 

It aims to achieve carbon neutrality by 2040.

Eisaku Ito, President and CEO of Mitsubishi Heavy Industries, said in a statement: “In recent years, we have been commercialising our growth areas such as the energy transition and smart social infrastructure and have declared 'MISSION NET ZERO' to realise a sustainable, safe and secure society.”