Under the political leadership of President Vladimir Putin, Russia has once again demonstrated a more determined commitment to its naval forces and, consequently, to its shipbuilding industry. Previous and current armament programmes and far-reaching structural reforms, from the late 2000s to the early 2020s, have been of great importance in Russia's attempts to bring order to the naval subset of the shipbuilding industrial branch. This study explores the Russian shipbuilding market and the current industrial structure of the naval subset of the industry. These two are important determinants for not only how Russian shipbuilding will develop in the coming decades, but also Russia's ability to meet its geostrategic and foreign policy goals.