Why U.S. Shipbuilding Collapsed — And The Push To Rebuild It
December 14, 2025
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16:01Now PlayingWhy U.S. Shipbuilding Collapsed — And The Push To Rebuild It
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as posted by the channelAmerica used to be a world leader in shipbuilding. But with a shortage of talent, antiquated operating procedures and outdated facilities the industry — essential to U.S. energy security and defense — is in crisis. China dominates the global commercial shipbuilding industry accounting for 53% of global market share followed by South Korea and Japan. The U.S. accounts for about 0.1%. But that could soon change. In southern Philadelphia, $5 billion is being invested by South Korean shipping conglomerate Hanwha. It hopes to turn this decades old shipyard into a state of the art facility. President Donald Trump also announced in December that Hanwha would help build two new “Trump-class” battleships for the country’s Navy at the Philly Shipyard. The number may expand to as many as 25 ships. To look at how shipyards are being revitalized, CNBC traveled to Wisconsin’s Great Lakes region and to one of America's oldest shipyards in Philadelphia.
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Produced and Shot by: Shawn Baldwin
Reporter: Lori Ann LaRocco
Edited by: Evan Lee Miller
Additional Camera: Darren Geeter, Ryan Baker
Senior Director of Video: Jeniece Pettitt
Animation: Jason Reginato, Emily Park
Additional Footage: Fincantieri, Hunwha, Getty Images, U.S. Coast Guard
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Why U.S. Shipbuilding Collapsed — And The Push To Rebuild It
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