Topicality. One of the important spheres of economic activity of the country is transport, the infrastructure of which is quite ramified by national and world borders. In the transformational conditions of development, questions of its productive development arise, which will contribute to ensuring an increase in the added value of Ukraine�s GDP and accelerating European integration processes. Moving towards sustainable consumption and production patterns and environmental sustainability requires urgent action to combat climate change and its impacts, protect and restore terrestrial ecosystems and others. Therefore, among all types of transport, it is advisable to develop water transport, in particular in Ukraine, while ensuring the conservation and rational use of the oceans, seas and marine resources. It can act as a catalyst for the implementation of the transit potential of Ukraine and an instrument to accelerate the country�s economic development. However, the existing differences in the interpretation and understanding of the conceptual apparatus of the development of water transport require updating and clarification. Aim and tasks. The purpose of the article is to conduct a critical analysis of the legal framework and scientific views of foreign and domestic scientists on the range of issues of water transport development in modern conditions. Research results. It has been established that in the scientific community the concept of "development" is considered as a special form of movement for changes in qualitative, quantitative and structural changes. Studying the essence of the category �transport� as well as �sea transport� and �inland water transport� as its components, the main normative legal acts of various legal force, regulating the legal relations of the subjects of water transport, have been investigated. Based on the analysis of the works of domestic and foreign scientists on various problems of the development of water transport, the existing theoretical basis has been developed. The modern semantic content of the concept of �development of water transport� is formulated, taking into account the modern changes taking place in the process of transformation of the national economy, taking into account world trends. It is proposed to understand the concept of �development of water transport� as a dynamic category, which is inherent in an evolutionary form and focused on the acquisition of new interrelated functions, qualitative and quantitative characteristics of water transport, aimed at regulatory, economic, social and environmental support for the effective functioning of its subjects of objects in the context the need to realize its potential as a tool to accelerate economic development and increase the country�s competitiveness. Conclusion. The fundamental aspects of the development of water transport are determined: regulatory, legal, economic, social, environmental. This made it possible to identify their direction, prerequisites for the development process and driving forces. This will contribute to improving the regulatory framework by regulating the rules of the game, developing and implementing a strategy for the development of water transport by optimizing state policy in this area. In turn, this will stimulate an increase in the gross domestic product of Ukraine and the share of the water transport sector in it, the general welfare of citizens and competitiveness at the international level.