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Consequently, with the Navy as an unreliable customer, many shipyards shuttered, and the workforce dwindled. In turn, this stagnation resulted in the US Navy being captive to a fleet size of 290 to 300 battle force ships for decades, despite aspirations across several presidential administrations for expansion.
The Explosion of China's Shipbuilding Industry
Contrastingly, China’s shipbuilding sector has experienced remarkable growth. In just a few decades, production soared from 220,000 deadweight tonnes in 1980 to a staggering 42.32 million tonnes in 2023. This meteoric rise has led China's global market share to balloon from less than 10% in 2000 to nearly 65% projected by 2025, overshadowing the contributions of South Korea and Japan.