Ulstein Group is a group of companies that focus on various marine-related industries, but is mainly known for its shipbuilding and ship design activities. The largest unit is Ulstein Verft AS.^[1] The company's head office and primary operations are located in the town of Ulsteinvik in the municipality of Ulstein in Møre og Romsdal county, Norway, an important area for the Norwegian maritime cluster, and with subsidiaries in several other countries. The group also includes companies working with power & control systems and solutions, engineering, site follow-up and aftermarket services. The company has also been engaged in shipping.

The original company, Ulstein Mekaniske Verksted, was established in 1917 by Martin Ulstein and his brother-in-law Andreas Flø. ^[2] At age 23, Martin and Andreas founded the company to modify local fishing boats, which were undergoing a global transition from sail-power to motorization. Martin Ulstein borrowed money from Ulstein Sparebank, with his father acting as guarantor, acquired 800 square metres (8,600 sq ft) of land from his uncle and set up shop with his brother-in-law and business partner Andreas Flø.

After Martin Ulstein's sudden death, his widow Inga took the position as Head of the Board, a position she held for many years. Their six children, Dagny, Inger, Magnulf, Kolbein, Idar, and Ragnhild (especially Kolbein and Idar) were responsible for the growth of the company to around 4,000 people at the end of the 1990s. ^[3]

Vickers acquired Ulstein Group AS except the shipbuilding division in 1999, then Rolls-Royce acquired Vickers a few months later.^[4]

The new shipbuilding division was demerged and named UMV Holding and forms the basis for today’s new Ulstein Group. In 2000, the new design activity in Ulstein was established (currently: Ulstein Design & Solutions AS) which began developing Ulstein designs. ^[5] The ULSTEIN X-BOW®, the inverted bow concept, redefined marine engineering. The bow concept was launched in 2005, together with the first shipbuilding contract, and gained immediate interest from shipowners.^[6]

Still family-owned, a representative of the third generation, Tore Ulstein, is chairman of the board and CEO of Ulstein Group is Gunvor Ulstein.

The ULSTEIN X-BOW, an inverted bow,^[15] introduces the gentle displacer, ship's bow a tapered fore ship shape with a different volume distribution as well as sectional angles, resulting in a wave piercing effect at small wave heights, and also reduces pitching and bow impact loads in bigger seas. The anchorhandling tug supply vessel, Bourbon Orca, built for Bourbon Offshore Norway, was the first ship built with the ULSTEIN X-BOW in 2006.^[16] In 2017, Norges Bank, the Central Bank of Norway, introduced a new series of banknotes, with the X-BOW featured on the NOK 100 note. ^[17] In (2019), the X-BOW was introduced to the cruise industry.^[18] Later developments from the X-BOW include the X-STERN, ^[19] which introduces the documented X-BOW® effect to the aft ship, and the TWIN X-STERN ^[20] for improved operability and fuel efficiency.