Share of Russian shipyards in domestic market to be increased to 50% by 2030

There is a plan to raise the share of Russian shipyards in the domestic shipbuilding market from current 10% to 50% by 2030, IAA PortNews journalist cites Boris Kabanov, representative of RF Ministry of Industry and Trade, as saying at the 2^nd Marine Business Forum Germany-Russia in Saint-Petersburg. 

Local content of components for shipbuilding is to be increased 10-fold – from 5% to 50%, the share of Russian engineering – from 40% to 100%.

Besides, the share of Russian shipbuilders in the global market is to grow from 0.5% to 2% in terms of displacement and from 2% to 10% in terms of cost due to export of hi-tech vessels.