This paper introduces for discussion the need and opportunities for shipyards to diversify into new areas of business. The need for diversification results from reductions in defense spending and the difficulties U.S. shipbuilders are having in gaining new orders. Shipyards have unique abilities that can be competitive strengths in other markets. Among these strengths are the ability to handle large, complex projects, the range of skills among their workforce, and their proximity to water transportation facilities. Examples of shipyard participation in new markets demonstrates these strengths. Other markets addressed in this paper serve the utility and process industries, and the opportunities to participate in energy resource research and development.

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