The potential of digital twin to enhance shipbuilding operational efficiency and profitability

• Main Author: Lee, Kelvin
• Other Authors: Felix Lena Stephanie
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2024
• Subjects: Business and Management; Engineering; Digital twin; Shipbuilding
• Online Access: https://hdl.handle.net/10356/176068
• Institution: Nanyang Technological University

The shipbuilding industry is generally characterized as an industry with complex operational needs and slim profit margins. As Digital Twin technology gains traction across various industries and manufacturing sectors, its potential application in shipbuilding emerges as a promising avenue to enable process optimization and subsequently improvement in profitability. This study aims to develop a framework to assess the feasibility of implementing Digital Twin technology in shipbuilding to achieve productivity gain through maximizing operational efficiency and profitability. Additionally, the research aims to construct a framework encompassing initial data considerations and adoption strategies tailored specifically for Digital Twins in the unique shipbuilding landscape. Furthermore, this study will apply the developed framework by analysing data sourced from a prominent European shipbuilder, supplemented by additional data sources from both industry and academic sources. Through this approach, the research will provide practical insights and actionable recommendations for leveraging Digital Twin technology to drive tangible improvements in shipbuilding operations and profitability.