Market overview
The global drillship market is worth USD 9.8 bn in 2026 and is forecast to reach USD 18.4 bn by 2036, growing at a 6.5% CAGR. Brazil is the largest country market and Above 10,000 ft is the largest by water depth segment.
| Scope | Contract drilling revenue earned by drillships, covering day rates and mobilisation for deepwater and ultra-deepwater wells worldwide. |
|---|---|
| Industry | Oil and Gas |
| Value 2025 | USD 9.0 bn |
| Value 2026 | USD 9.8 bn |
| Value 2036 | USD 18.4 bn |
| CAGR 2026-2036 | 6.5% |
| Volume 2026 | 71.6 rig years |
| Volume 2036 | 95.3 rig years |
| Average price 2026 | USD 137,000,000 per rig year |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Drillship market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 9.8 bn |
| 2027 | USD 10.4 bn |
| 2028 | USD 11.1 bn |
| 2029 | USD 11.8 bn |
| 2030 | USD 12.6 bn |
| 2031 | USD 13.4 bn |
| 2032 | USD 14.3 bn |
| 2033 | USD 15.2 bn |
| 2034 | USD 16.2 bn |
| 2035 | USD 17.3 bn |
| 2036 | USD 18.4 bn |
Drillship market segmentation
By water depth
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Up to 7,500 ft | 10.0% | 7.5% | USD 981 mn | 3.4% |
| 7,500 to 10,000 ft | 38.0% | 35.9% | USD 3.7 bn | 5.9% |
| Above 10,000 ft | 52.0% | 56.6% | USD 5.1 bn | 7.4% |
By generation
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Sixth generation and earlier | 18.0% | 11.3% | USD 1.8 bn | 1.7% |
| Seventh generation | 52.0% | 50.3% | USD 5.1 bn | 6.2% |
| Eighth generation and newbuild | 30.0% | 38.3% | USD 2.9 bn | 9.2% |
By contract term
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Under 1 year | 22.0% | 20.0% | USD 2.2 bn | 5.5% |
| 1 to 3 years | 38.0% | 36.0% | USD 3.7 bn | 5.9% |
| Above 3 years | 40.0% | 44.0% | USD 3.9 bn | 7.5% |
By client type
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Oil majors | 44.0% | 42.0% | USD 4.3 bn | 6.0% |
| National oil companies | 32.0% | 34.0% | USD 3.1 bn | 7.2% |
| Independent operators | 24.0% | 24.0% | USD 2.4 bn | 6.5% |
By BOP rating
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| 10,000 psi | 22.0% | 16.0% | USD 2.2 bn | 3.2% |
| 15,000 psi | 56.0% | 56.0% | USD 5.5 bn | 6.5% |
| 20,000 psi | 22.0% | 28.0% | USD 2.2 bn | 9.1% |
Top 25 countries for drillship by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 84.0% of 2026 revenue and the 25 countries below together hold 95.5%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | Brazil | USD 2.4 bn | 24.0% | USD 4.4 bn | 6.4% |
| 2 | United States | USD 1.7 bn | 17.0% | USD 3.1 bn | 6.4% |
| 3 | Angola | USD 883 mn | 9.0% | USD 1.6 bn | 5.9% |
| 4 | Nigeria | USD 785 mn | 8.0% | USD 1.4 bn | 6.0% |
| 5 | Guyana | USD 687 mn | 7.0% | USD 1.5 bn | 8.5% |
| 6 | Ghana | USD 490 mn | 5.0% | USD 865 mn | 5.8% |
| 7 | Namibia | USD 392 mn | 4.0% | USD 1.0 bn | 9.9% |
| 8 | Mexico | USD 392 mn | 4.0% | USD 626 mn | 4.8% |
| 9 | Malaysia | USD 294 mn | 3.0% | USD 479 mn | 5.0% |
| 10 | Egypt | USD 294 mn | 3.0% | USD 497 mn | 5.4% |
| 11 | Mozambique | USD 177 mn | 1.8% | USD 374 mn | 7.8% |
| 12 | Senegal | USD 152 mn | 1.6% | USD 320 mn | 7.7% |
| 13 | Ivory Coast | USD 130 mn | 1.3% | USD 276 mn | 7.8% |
| 14 | Indonesia | USD 113 mn | 1.1% | USD 190 mn | 5.3% |
| 15 | India | USD 96 mn | 1.0% | USD 164 mn | 5.5% |
| 16 | Australia | USD 83 mn | 0.8% | USD 140 mn | 5.3% |
| 17 | Norway | USD 72 mn | 0.7% | USD 103 mn | 3.7% |
| 18 | Tanzania | USD 62 mn | 0.6% | USD 129 mn | 7.6% |
| 19 | United Kingdom | USD 53 mn | 0.5% | USD 76 mn | 3.6% |
| 20 | Trinidad and Tobago | USD 45 mn | 0.5% | USD 77 mn | 5.5% |
| 21 | Colombia | USD 39 mn | 0.4% | USD 66 mn | 5.4% |
| 22 | Argentina | USD 33 mn | 0.3% | USD 57 mn | 5.5% |
| 23 | Cameroon | USD 28 mn | 0.3% | USD 50 mn | 5.7% |
| 24 | Uruguay | USD 25 mn | 0.2% | USD 53 mn | 8.1% |
| 25 | Turkey | USD 22 mn | 0.2% | USD 37 mn | 5.5% |
| Rest of world | USD 439 mn | 4.5% | USD 816 mn | 6.4% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- Transocean
- Valaris
- Noble Corporation
- Seadrill
- Saipem
Group 2: Regional and specialist players
- Vantage Drilling
- Constellation Oil Services
- COSL
- Ocyan
- Sonadrill
Group 3: Emerging and niche players
- Foresea
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the drillship market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 6.5% is calculated from the resulting values.
The market is divided by water depth, by generation, by contract term, by client type, by bop rating. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the drillship market?
The global drillship market is estimated at USD 9.0 bn in 2025 and USD 9.8 bn in 2026.
How fast will the drillship market grow?
It is forecast to reach USD 18.4 bn by 2036, a compound annual growth rate of 6.5% from 2026, an increase of USD 8.6 bn.
Which country is the largest market for drillship?
Brazil is the largest market by revenue at USD 2.4 bn in 2026, 24.0% of the global total. The three largest countries together hold 50.0%.
Which country is growing fastest?
Among the ten largest markets, Namibia is growing fastest at 9.9% a year from 2026 to 2036.
Which drillship segment is largest?
In the by water depth split, Above 10,000 ft is the largest segment with 52.0% of 2026 revenue.
Who are the leading drillship companies?
Global leaders include Transocean, Valaris, Noble Corporation, Seadrill.
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