Hanwha Group's acquisition of Philly Shipyard aims to significantly ramp up U.S. shipbuilding capacity and workforce development to meet rising demand for modern vessels.

Target Company Information

Hanwha Philly Shipyard, the American subsidiary of Hanwha Group, has recently embarked on an ambitious initiative to enhance shipbuilding capabilities in the United States. Following its acquisition of Philly Shipyard in December 2024, Hanwha's objective is to increase vessel production significantly, targeting output of 10 to 20 ships annually within the next decade. This transformation will involve modernizing the shipyard facilities and implementing advanced technologies.

To facilitate this growth, Hanwha plans to establish a comprehensive technology transfer model that not only introduces innovative manufacturing processes but also focuses on developing an adept workforce skilled in modern shipbuilding techniques.

Industry Overview in the United States

The U.S. shipbuilding industry is at a crucial juncture as it confronts the pressing need for modernization and expansion. Presently, a considerable portion of the nation's maritime fleet exceeds 20 years of age, highlighting an impe