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- Transportation & Logistics
- Luxury Yacht Market
"Market Intelligence for High-Geared Performance"
Luxury Yacht Market Size, Share & Industry Analysis, By Type (Motor Yachts and Sailing Yachts), By Size (Upto 50 Meters, 50 to 100 Meters, and More than 100 Meters), By Application (Personal use and Commercial use), and Regional Forecast, 2024-2032
Last Updated: July 01, 2024 | Format: PDF | Report ID: FBI105396
- Segmentation
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KEY MARKET INSIGHTS
The global luxury yacht market size was valued at USD 7.67 billion in 2023. The market is projected to grow from USD 8.75 billion in 2024 to USD 17.33 billion by 2032, exhibiting a CAGR of 8.9% during the forecast period.
A luxury yacht is a high-end recreational vehicle offering exclusive and luxurious amenities along with accommodation. These vessels are loaded with the most advanced features for their users. Luxurious yachts include spacious cabins, staterooms, a pantry facility, multiple decks with entertainment facilities, water sports equipment, such as jet skis, and water toys. They are also equipped with advanced navigation and safety systems. These vessels can be privately or commercially owned. Their demand has increased steadily in recent years. This can be attributed to lifestyle changes, such as increasing wealth, recreation & leisure trends, and growing yacht tourism.
The luxury yacht market faced significant challenges during the COVID-19 pandemic, with travel restrictions and border closures leading to declining sales and demand. Many potential buyers postponed or canceled purchases due to uncertainty. However, as vaccination rates increased and travel restrictions eased, the demand for luxury yachts surged. Affluent individuals sought seclusion and social distancing, driving private yachting demand. There was a shift in travel preferences toward remote destinations, leading buyers to customize yachts with personalized amenities and eco-friendly features. Despite initial setbacks, the luxury yacht market demonstrated resilience and adaptability. Manufacturers and brokers adjusted policies to meet changing customer demands, leading to a positive outlook for the market's recovery.
Luxury Yacht Market Trends
Electrification of Yachts a Growing Market Trend
Yacht manufacturers are expected to increase the production of electric yachts as they switch to batteries to produce zero-emission products. The prevalence of clean propulsion technology will drive the growth of electric yachts in the future. Electric yachts have few moving parts and do not require engine oil or gas. Additionally, these yachts are quiet and require little maintenance.
Electric luxury yachts produce more torque and efficiently convert stored kinetic energy into electricity. These yachts are environmentally friendly and emit no carbon dioxide, thereby reducing greenhouse gas emissions. A tough regulatory environment for traditional yachts and rising fuel prices will pave the way for the solid growth of electric yachts in the future. Huge investments from various manufacturers and government support measures will accelerate the demand for electric yachts. Moreover, companies are investing in R&D to develop new concepts for electrification.
- For instance, in June 2023, Porsche and Frauscher Shipyard announced the development of the Frauscher x Porsche 850 Fantom Air, an innovative electric yacht.
This venture marks Porsche's ambition to extend its electric prowess beyond the road and racing cars to promote maritime sustainability. This model combines aesthetics and innovation; the yacht utilizes the Premium Platform Electric (PPE) technology. It is integrated with a high-capacity 100 kWh lithium-ion battery , the latest-generation permanently excited synchronous electric motor (PSM), and state-of-the-art power electronics.
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Luxury Yacht Market Growth Factors
Increasing Number of UHNWIs to Surge Product Demand
The luxury yacht market is experiencing a significant surge in demand, primarily driven by the increasing number of global Ultra-high Net Worth Individuals (UHNWIs). Recent statistics reveal a notable rise in the proportion of UHNWIs, with the superyacht industry benefiting immensely from this trend. Leading yacht brokerage firms report record sales at top shipyards, with backlogs growing steadily. Additionally, there has been a remarkable increase in first-time charters, accounting for approximately 40% of the luxury charter market in 2021, according to insights from industry experts.
The growing wealth accumulation among billionaires and the super-rich fuels the demand for luxury yachts as affluent individuals seek extravagant investments that align with their lavish lifestyles. This trend is evident across various regions globally, with a particular emphasis on catering to the preferences and desires of ultra-rich clientele.
Furthermore, the steady rise in UHNWIs globally is expected to sustain the momentum in the luxury yacht market. Notably, regions, such as Asia Pacific, are anticipated to emerge as significant growth drivers for the luxury yacht market, owing to the rising affluence and luxury consumption trends in these regions. Overall, the increasing number of UHNWIs is a key factor propelling the growth of the luxury yacht market, shaping the industry landscape, and driving innovation in yacht design and customization to meet the evolving demands of ultra-rich clientele.
The growing desire among ultra-rich individuals to make extravagant investments that align with their affluent lifestyle further propels the demand for luxury yachts globally. This trend is underscored by the steady increase in wealthy individuals globally, particularly in regions, such as Asia Pacific, Europe, and other Middle Eastern countries. Thus driving the luxury yacht market growth.
RESTRAINING FACTORS
Environmental Concerns Related to Yachting Activities to Restrain Market Growths
Yachts have a significant impact on marine ecosystems. In busy waterways, the presence of luxury yachts can lead to algae and sedimentation, blocking solar radiation, degrading the water quality, and hampering marine life. In addition, sediments on yachts can change the water chemistry, making it either alkaline or acidic. The chemicals used to wash, operate, and protect yachts often mix with the water and seriously impact the environment, killing and debilitating wildlife. Since freshwater is commonly used for drinking water and fishing, such toxins in freshwater can affect humans as well.
New motor yachts, jet skis, sailing yachts, and other leisure boats have strict limits for nitrogen oxides (NOx), particulate matter, and hydrocarbons (HCs). In September 2021, representatives from the California Air Resources Board (CARB) proposed emission regulations for commercial yachts. Through these regulations, CARB aims to minimize harmful gas emissions. As recreational sailing is popular, protecting marine ecosystems and the environment has become an uphill battle. Regulatory measures and educational programs help raise awareness and reduce yacht-related pollution. But, protecting aquatic life and human health requires a concerted effort by yacht manufacturers, consumers, and regulators.
According to the International Maritime Organization, marine tourism resources are subject to various global threats to the oceans and marine systems, mainly due to anthropogenic factors. These include climate change, overfishing, bottom trawling (fishing nets along the seafloor), migration of invasive species, changes in inputs of waste, nutrients, and sediments to coastal and marine ecosystems, coastal urbanization, and loss of resources and natural capital in coastal areas, especially coastal wetlands.
Luxury Yacht Market Segmentation Analysis
By type analysis.
Higher Comfort Offered by Motor Yachts to Boost Their Demand
The market, based on type, is fragmented into motor yachts and sailing yachts. Motor yachts are the dominant and fastest growing segment. Motorized yachts provide larger space since they do not rely on winds and can cruise at high speeds, making them suitable for long-distance travels.
Sailing yachts have also showcased a significant growth rate in the market. This growth is due to their eco-friendliness and affordability. Sailing yachts have lesser budgets than motor yachts and are safer and more reliable.
By Size Analysis
Up to 50 Meters to Hold Largest Market Share Due to Affordability and Diverse Use
By size, the market is classified into up to 50 meters, 50 to 100 meters, and more than 100 meters. The up to 50-meter segment accounts for the largest global luxury market share. These yachts can be utilized for both personal activities and commercial use. Many manufacturers are developing new designs in this category.
- For instance, In January 2024, Tyde, the German luxury yacht manufacturer, collaborated with BMW to launch its second model, The Open. It is a 15-metre-long, fully-electric luxury day yacht.
The demand for superyachts and megayachts is rising in most developed countries, and there has been a notable surge in tourism in these nations. Therefore, the 50-100 meters segment is expected to record the highest CAGR, while the more-than 100 meters segment may exhibit a significant growth rate during the forecast period.
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By Application Analysis
Rising Disposal Income to Boost Product Use for Personal Activities
By application, the market is divided into personal use and commercial use.
In 2022, the personal use segment held the largest market share. Rapid urbanization, rising living standards, rising personal disposable incomes, and a growing population of high net worth individuals have increased spending on luxury goods and leisure activities. These factors are anticipated to fuel the growth of the personal use segment. Therefore, luxury yacht services have also seen a significant increase in demand in recent years.
Rising commercial get-togethers, such as corporate events, parties, sailing competitions, and fishing activities, have boosted the growth of the commercial use segment.
REGIONAL INSIGHTS
Regionally, the market is analyzed across North America, Europe, Asia Pacific, and Rest of the World.
Europe Luxury Yacht Market Size, 2023 (USD Billion)
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Europe is expected to hold the largest market share. This region has the potential to dominate the market due to the strong growth of maritime tourism and wide range of tourist destinations. Countries, such as Croatia, Greece, France, Spain, and Italy are the region's top tourist destinations and highest income earners. The rise in the popularity of fishing activities and water sports and growing upper-class population are expected to drive the market development in the region during the forecast period. Rising booking of European air tickets, strong online demand for yacht charter service providers, and increased insurance of vessel permits are expected to drive market growth in the region. The region's wealthy population is also likely to drive the market growth.
North America holds the second-largest position in the market as the region's diverse coasts have become great cruise destinations. The U.S. dominates this regional market due to the presence of major charter hubs within the country.
Asia Pacific is expected to be the fastest growing region in the next few years. This growth has been credited to rapid urbanization, rising living standards, and rising disposable incomes. Leisure activities, such as fishing and water sports are becoming more popular in Thailand, Malaysia, Singapore, China, Japan, and Australia. Maritime tourism is also rising, presenting significant opportunities for yacht manufacturing companies. In addition, aggressive government initiatives for marine tourism development, especially in countries, such as India and China, are expected to boost the regional market growth.
List of Key Companies in Luxury Yacht Market
Significant Product Offerings by Azimut Benetti Will Strengthen its Growth Prospects
Azimut Benetti is the first among all key players leading a global private group in the yachting sector, established in 1969 and headquartered in Viareggio, Italy. It has more than 50 years of experience in the sector. The company has achieved 60% growth in the last four years and has a 526,000 sq.m. production facility and 138 showrooms in 80 countries globally. It is known for continuous innovation and experimentation; it has been the world’s leading manufacturer of mega yachts and shipyards with the widest range of models for 23 years. The company has 168 projects under construction, totaling 5,991 meters in length, making it rank first, for the 23rd time in a row, in the annual ranking of the largest yacht builders. The company has major brands, such as Azimut, Benetti, Yachtique, and Lusben.
LIST OF KEY COMPANIES PROFILED:
- Azimut Benetti S.p.A. (Italy)
- Sanlorenzo S.p.A (Italy)
- Ferretti Group (Italy)
- Feadship (Netherlands)
- Princess Yachts (U.K.)
- Sunseeker Yachts (U.K.)
- Fr. Lurssen Werft GmbH & Co. KG (Germany)
- ISA Yachts (Italy)
- Ocean Alexander (Taiwan)
- Kingship Marine Limited (China)
KEY INDUSTRY DEVELOPMENTS:
- January 2024: Mayla Hamburg, a Germany-based manufacturer, is a new entrant into the luxury yacht market. It has announced the unveiling of a magnificent new water vessel. The 'GT' is a luxury yacht that can be powered by diesel and gas, as well as hybrid and electric. This particular yacht boasts a hull that is made entirely out of carbon prepreg materials weighing as low as 3.8 tons. This combination of top-notch powertrain options and low weight makes its speed between 50 and 100 knots. The yacht's luxury amenities include a sundeck, BBQ, high-end audio system, sofa lounge and more.
- November 2023: Gulf Craft announced the exploration of hydrogen technology for its superyacht fleet. Gulf Craft partnered with H2-Enterprises to explore & develop a zero-emissions Majesty yacht, which could be powered by an innovative LOHC (Liquid Organic, Hydrogen Carrier) energy system. H2-Enterprises has been working on this technology for the last 13 years and has now reached the stage of development to power a superyacht.
- June 2023: Sanlorenzo launched a 47-meter explorer yacht called Para Bellum. The company’s tenth yacht is in its high-selling 460-500 EXP series. It is powered by twin Caterpillar engines that reach a cruising speed of 13 knots.
- May 2023: The Kadey-Krogen Group (Florida) acquired American Tugs in LaConner, Washington. American Tugs was founded in 1999 and is a leading builder of high-quality, U.S.-built coastal cruisers with a vast customer base in North America and Europe. The company has delivered over 250 cruising yachts and five commercial vessels from its 2,600 sq.m. facility.
- April 2023: Ferretti Group launched the Pershing 140. It is the company’s first flagship model entirely built from aluminum in the Ancona facility. The Pershing 140 yacht is equipped with four MTU 16V 2000 M96L engines, each rated at 2,600 hp, providing a cruising speed of 35 knots and a top speed of 38 knots.
REPORT COVERAGE
The market report provides a detailed analysis and focuses on key aspects, such as leading companies, product types, end-users, design, and technology. Besides this, it offers in-depth insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the market's growth in recent years.
An Infographic Representation of Luxury Yacht Market
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Report Scope & Segmentation
|
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| 2019-2032 |
| 2023 |
| 2024 |
| 2024-2032 |
| 2019-2022 |
| CAGR of 8.9% from 2024-2032 |
| Value (USD Billion) |
|
|
Frequently Asked Questions
Fortune Business Insights says that the global market was valued at USD 7.67 billion in 2023. The global market is projected to grow to USD 17.33 billion by 2032.
The market is expected to register a CAGR of 8.9% during the forecast period of 2024-2032.
Increasing number of UHNWIs across the globe is expected to surge the market growth.
Europe led the global market in 2023.
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- STUDY PERIOD: 2019-2032
- BASE YEAR: 2023
- HISTORICAL DATA: 2019-2022
- NO OF PAGES: 200
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The global luxury yacht market size is projected to grow from $8.75 billion in 2024 to $17.33 billion by 2032, at a CAGR of 8.9% during the forecast period
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- Future Commercial Growth Analysis
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Yacht Market Share, Size, Trends, Industry Analysis Report, By Type (Super, Flybridge, Sport, Long Range, Others); By Length; By Propulsion (Motor, Sailing), By Region; Segment Forecast, 2021 - 2028
- Published Date:Oct-2021
- Format: PDF
- Report ID: PM2020
- Base Year: 2020
- Historical Data: 2016 - 2019
- Description
Table of Contents
- Analysis Type
- Research Methodology
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Report outlook.
The global yacht market was valued at USD 8.12 billion in 2020 and is expected to grow at a CAGR of 5.1% during the forecast period. The increasing inclination towards recreational or leisure activities on account of growing disposable income, coupled with the increasing preference for personalized services, luxury tourism, and exclusive traveling, are the few prominent factors expected to accelerate the market growth during the forecast period.
As per the survey of the World Tourism Organization UNWTO, in 2018, nearly 75% of the inclusive international travel departures leave from North America, South America, Europe, and comprised these regions accounted USD 263 billion in adventure travel expenditures. As a result, the adoption has shown the growth due to growing consumer interest in adventurous activities thereby, aiding the market growth over the forecast period.
A yacht is a power vessel or sailing utilized for preference, cruising, or racing. However, there is no typical definition, so the term refers to vessels with a cabin with facilities that provide accommodations for overnight use. In addition, factors such as the development of new, lighter, and more fuel-efficient yachts are further contributing to the considerable market demand for end-use.
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Growth Drivers The yacht market has perceived substantial developments since the last few decades supported by the constant advancements in technological yachts, allowing improved flexibilities to contract engines operate at an adjustable speed and considerably reduce noise, emission, and vibration.
Moreover, the development of luxurious amenities and high-tech interiors are delivered by the OEM manufacturers, which is further, predicted to drive the demand in the entire world. OEM vendors have often been witnessed to be continually investing in the research and development activities to provide an exceptional experience, thereby driving the growth outlook for the global yacht market over the foreseen period.
In addition, the rapid rise in tourism across developed and developing economies is further projected to reinforce the demand in the industry. North America is the major contributing factor that shows drastic growth in the tourism market. U.S. is the world's largest travel & tourism economy dominates with around 83% of the direct GDP impact on the region, followed by Mexico (12.6%) and Canada (4.5%). As a result, the adoption of yachts is growing, thereby creating positive growth for the global yacht market.
Report Segmentation
The market is primarily segmented on the basis of type, length, propulsion, and region.
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Insight by Type
Based on the type segment, the superyacht is the leading revenue contributor in the global market in 2020 and is likely to keep its dominance in the forthcoming period. The segment is anticipated to observe a healthy growth during 2021-2028, owing to the increasing popularity of superyachts among the wide consumer base, along with the surging affinity for outdoor leisure activities. The sports yacht segment is projected to evolve as the highest CAGR in terms of market share during 2021-2028. This can be accredited to the vigorous participation of adults in sporting events and recreational boating activities.
Further, recreational tournaments are providing employment opportunities. They are emerging as an integral source of revenue generation for clothing outlets, yacht caterers, and boat builders, among others, which are anticipated to reinforce the market growth during the forthcoming period.
Insight by Propulsion
Motor yacht segment is expected to witness large revenue in the foreseen period. A considerable demand has been witnessed for the same on account of its benefits, such as large distance coverage, high speed, and power, among others. Besides, several individuals have extensively preferred it for the advanced equipment and systems deployed in the motor yachts, which have positively impacted the segment’s growth fortune.
The sailing yachts segment is projected to record the second-highest CAGR in the global market, backed by several factors, including increasing focus on leisure activities and the growing technological developments in these ships that make them more attractive options among the buyers.
Geographic Overview
Geographically, Europe is expected to dominate the global market in 2020. The demand in the European countries is mainly driven by the growing number of high net-worth individuals and the increasing popularity of fishing activities and water sports. For instance, in 2018, German residents took almost 142 million trips, which is the largest number of leisure and vacation trips performed in Europe.
However, in the approaching years, passenger traffic in marine tourism is growing dramatically due to the attractiveness of the region and current supportive policies. This is further anticipated to raise the investments in recreational activities, which, in turn, is expected to aid the adoption of the yacht in the region. In North America, the favorable growth in the number of yacht passengers is one of the major factors amplifying the demand for the regional market. Furthermore, the exponential rise in the travel & tourism markets due to rising disposable income, along with the increasing number of international tourist visits, is further augmenting the market growth in the region.
According to the World Bank Group, in 2010, nearly 99.5 million international tourists visited North America, which increased to 137.1 million in 2017. The increased number of international passenger visits is an important driver bolstering the region’s growth. Moreover, Asia Pacific is expected to witness a high CAGR in the global market in 2020. The demand in the region is anticipated to increase over the forecast period favorable government policies such as Swadesh Darshan Scheme and the flagship Incredible India, coupled with a rise in investment by the high-net-worth individuals seeking rich life experience.
By 2030, China including, other Asian countries such as India, Indonesia, and Malaysia expected to have a large proportion of middle-income societies, followed by younger millennials having high disposable income. Thus, many consumers and tourist agencies have now recognized the consumption of yachts for recreational activities, so the market is gaining significant prominence in the Asian economy.
Competitive Landscape
Some of the Major Players operating the global market include Azimut Benetti Group, Baglietto s.p.a, Bavaria Yachtbau GmbH, Damen Shipyards Group, Ferretti S.p.A., Heesen Yachts, Princess Yachts Limited, Sunseeker International, Sanlorenzo Yachts, and Viking Yacht Company.
Yacht Market Report Scope
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| USD 8.12 billion |
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| USD 10.65 billion |
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| 5.1% from 2021 - 2028 |
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| 2020 |
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| 2016 - 2019 |
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| 2021 - 2028 |
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| Revenue in USD billion and CAGR from 2021 to 2028 |
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| By Type, By Length, By Propulsion, By Region |
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| North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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| Azimut Benetti Group, Baglietto s.p.a, Bavaria Yachtbau GmbH, Damen Shipyards Group, Ferretti S.p.A., Heesen Yachts, Princess Yachts Limited, Sunseeker International, Sanlorenzo Yachts, and Viking Yacht Company |
- Objectives of the Study
- Market Scope
- Assumptions
- Stakeholders
- Market Highlights
- Data Mining
- Primary Sources
- Secondary Sources
- Yacht – Industry Snapshot
- Increasing high net worth of individuals
- Growing interest towards luxury tourism
- High operational costs
- Bargaining Power of Suppliers (Moderate)
- Threats of New Entrants: (Low)
- Bargaining Power of Buyers (Moderate)
- Threat of Substitute (Moderate)
- Rivalry among existing firms (High)
- PESTLE Analysis
- Yacht Market Industry trends
- COVID-19 Impact Analysis
- Key Findings
- Global Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Global Yacht Market, by Super, By Region, 2016 - 2028 (USD Billion)
- Global Yacht Market, by Flybridge, by Region, 2016 - 2028 (USD Billion)
- Global Yacht Market, by Sport, by Region, 2016 - 2028 (USD Billion)
- Global Yacht Market, by Long Range, by Region, 2016 - 2028 (USD Billion)
- Global Other Yacht Market, by Region, 2016 - 2028 (USD Billion)
- Global Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Global Yacht Market, by Up to 20 meters, by Region, 2016 - 2028 (USD Billion)
- Global Yacht Market, by 20 - 50 meters, by Region, 2016 - 2028 (USD Billion)
- Global Yacht Market, by Above 50 meters, by Region, 2016 - 2028 (USD Billion)
- Global Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Global Yacht Market, by Motor, by Region, 2016 - 2028 (USD Billion)
- Global Yacht Market, by Sailing, by Region, 2016 - 2028 (USD Billion)
- Key findings
- Yacht Market Assessment, By Geography, 2016 - 2028 (USD Billion)
- North America: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- North America: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- North America: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- U.S.: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- U.S.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- U.S.: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Canada: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Canada.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Canada: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Europe: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Europe.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Europe: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- UK: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- UK.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- UK: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- France: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- France.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- France: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Germany: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Germany.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Germany: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Italy: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Italy.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Italy: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Spain: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Spain.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Spain: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Netherlands: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Netherlands.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Netherlands: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Austria: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Austria.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Austria: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Asia Pacific: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Asia Pacific.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Asia Pacific: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- China: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- China.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- China: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- India: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- India.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- India: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Malaysia: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Malaysia.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Malaysia: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Japan: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Japan.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Japan: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Indonesia: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Indonesia.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Indonesia: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- South Korea: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- South Korea.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- South Korea: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Middle East & Africa: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Middle East & Africa.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Middle East & Africa: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Saudi Arabia: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Saudi Arabia.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Saudi Arabia: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- UAE: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- UAE.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- UAE: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Israel: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Israel.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Israel: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- South Africa: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- South Africa.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- South Africa: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Latin America: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Latin America.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Latin America: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Mexico: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Mexico.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Mexico: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Brazil: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Brazil.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Brazil: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Argentina: Yacht Market, by Length, 2016 - 2028 (USD Billion)
- Argentina.: Yacht Market, by Type, 2016 - 2028 (USD Billion)
- Argentina: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
- Acquisitions
- Partnerships/Collaborations/Agreements/Exhibitions
- Company Overview
- Financial Performance
- Product Benchmarking
- Recent Development
List of Tables
Table 1 Global Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 2 Global Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 3 Global Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 4 Yacht Market Assessment, By Geography, 2016 - 2028 (USD Billion) Table 5 North America: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 6 North America: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 7 North America: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 8 U.S.: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 9 U.S.: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 10 U.S.: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 11 Canada: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 12 Canada: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 13 Canada: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 14 Europe: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 15 Europe: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 16 Europe: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 17 UK: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 18 UK: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 19 UK: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 20 France: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 21 France: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 22 France: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 23 Germany: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 24 Germany: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 25 Germany: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 26 Italy: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 27 Italy: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 28 Italy: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 29 Spain: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 30 Spain: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 31 Spain: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 32 Netherlands: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 33 Netherlands: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 34 Netherlands: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 35 Austria: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 36 Austria: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 37 Austria: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 38 Asia Pacific: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 39 Asia Pacific: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 40 Asia Pacific: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 41 China: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 42 China: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 43 China: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 44 India: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 45 India: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 46 India: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 47 Malaysia: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 48 Malaysia: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 49 Malaysia: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 50 Japan: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 51 Japan: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 52 Japan: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 53 Indonesia: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 54 Indonesia: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 55 Indonesia: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 56 South Korea: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 57 South Korea: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 58 South Korea: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 59 Middle East & Africa: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 60 Middle East & Africa: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 61 Middle East & Africa: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 62 Saudi Arabia: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 63 Saudi Arabia: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 64 Saudi Arabia: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 65 UAE: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 66 UAE: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 67 UAE: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 68 Israel: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 69 Israel: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 70 Israel: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 71 South Africa: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 72 South Africa: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 73 South Africa: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 74 Latin America: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 75 Latin America: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 76 Latin America: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 77 Mexico: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 78 Mexico: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 79 Mexico: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 80 Brazil: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 81 Brazil: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 82 Brazil: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion) Table 83 Argentina: Yacht Market, by Length, 2016 - 2028 (USD Billion) Table 84 Argentina: Yacht Market, by Type, 2016 - 2028 (USD Billion) Table 85 Argentina: Yacht Market, by Propulsion, 2016 - 2028 (USD Billion)
List of Figures
Figure 1. Global Yacht Market, by Length, 2016 - 2028 (USD Billion) Figure 2. Integrated Ecosystem Figure 3. Research Methodology: Top-Down & Bottom-Up Approach Figure 4. Market by Geography Figure 5. Porter’s Five Forces Figure 6. Market by Length Figure 7. Global Yacht Market, by Length, 2016 & 2028 (USD Billion) Figure 8. Market by Type Figure 9. Global Yacht Market, by Type, 2016 & 2028 (USD Billion) Figure 10. Market by Propulsion Figure 11. Global Yacht Market, by Propulsion, 2016 & 2028 (USD Billion) Figure 12. Yacht Market Assessment, By Geography, 2016 - 2028 (USD Billion) Figure 13. Strategic Analysis – Yacht Market
Report Scope
Yacht Market, Type Outlook (Revenue, USD Billion, 2016 - 2028)
- Super Yacht
- Flybridge Yacht
- Sport Yacht
- Long Range Yacht
Yacht Market, Length Outlook (Revenue, USD Billion, 2016 - 2028)
- Up to 20 meters
- 20 - 50 meters
- Above 50 meters
Yacht Market, Propulsion Outlook (Revenue, USD Billion, 2016 - 2028)
- Motor Yacht
- Sailing Yacht
Yacht Market, Regional Outlook (Revenue, USD Billion, 2016 - 2028)
Qualitative Analysis
- Industry trends
- Market drivers and restraints
- Market size
- Growth prospects
- Porter’s analysis
- PESTEL Analysis
- Value Chain Analysis
- Key market opportunities prioritized
- Product benchmarking
- Latest strategic developments
- Price Trend Analysis
Quantitative Analysis
- Market size, estimates, and forecasts from 2016 - 2028
- Market size and revenue estimates for type up to 2028
- Market revenue estimates for length up to 2028
- Market revenue estimates for propulsion up to 2028
- Regional market size and forecast up to 2028
- Company financials
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Yacht Market
Global Yacht Market Size, Trends & Analysis - Forecasts to 2027 By Type (Super Yacht, Flybridge Yacht, Sport Yacht, Long Range Yacht), By Propulsion (Motor Yacht, Sailing Yacht), By Yacht length (Up to 20 Meters, 20 - 50 Meters, Above 50 Meters), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa), Competitive Landscape Company Share Analysis, and Competitor Analysis
- Report Summary
- Table of Content
- Research Methodology
- Customize this research
Global Yacht Market Size
The global yacht market is projected to grow at a CAGR value of 5.6% from 2022 to 2027.
Rapid urbanization and substantial expansion in the leisure tourism industry are two major factors influencing the market's optimistic perspective. Additionally, the increased popularity of remote adventures is fostering industry expansion.
The major driving forces expected to influence market expansion are the demand for yachts has been growing steadily in recent years as individuals' disposable income has increased, as has their preference for leisure or recreational activities. The key factors driving yacht sales are the rising desire from visitors for luxury vacation cruises, individualized services, and exclusive experiences. To improve performance and the customer experience, manufacturers stress the addition of luxuries and private facilities.
Individuals worldwide are becoming increasingly interested in leisure, sports, and great experiences. Yacht fleet operators rent luxury vessels for business meetings, recreational activities, and gatherings.
Furthermore, yachts' attractive designs and structures encourage people to spend time on ships for personal and business activities. Other factors, such as increased consumer spending capacity and alternative fuels in the maritime industry, are also important. It is going to propel market expansion in the global market.
Many luxury yacht manufacturers also hire yachts for tourists to visit different coastlines and islands while maintaining high standards and comfort.
To create cutting-edge boats, businesses are spending more on research and development.
Increases in alternative energy sources, the number of wealthy clients, and the several private islands on luxury cruise itineraries all contribute to the growth of the yacht charter industry. The increasing demand for yacht rentals and private yacht cruises are expected to increase the demand for yachts
The major market restraint in the yacht market is that yachts are prone to accidents on the sea.
COVID-19 Impact on Global Yacht Market
COVID-19 is wreaking havoc on the world's markets, businesses, and economies, impacting people's lives, interactions, and business practices. As companies turn their attention away from development possibilities and toward taking drastic measures to lessen the effects of the COVID-19 outbreak, the capacity to endure has become the new norm. The aviation and maritime sectors have suffered as a result of the COVID-19 epidemic. This damaging effect is due to the rapidity with which the countries limited travel activities, closed borders, and saw a significant decline in economic activity. There has been an increase in the number of countries closing their borders partially or entirely and increased awareness of the traveling activities that can cause a traveler to contract or disseminate a virus. As international borders are opening up and countries are again promoting international tourism and allowing people to indulge in recreational activities, the global yacht market is expected to pick up the momentum.
Ukraine-Russia War Impact on the Maritime Industry
The maritime industry has been affected by the disruptions caused by the Ukraine-Russia war. The war has shut off trade routes and cruise routes. The seizure of assets of Russian oligarchs by foreign countries has also led to a fall in the demand for yachts. A Russian blockade of the Black Sea trade routes has had severe impacts on the maritime industry.
Global Yacht Market: By Type
The sport yacht segment is expected to be the fastest-growing segment in the global market. The increasing demand for sports yachts in nations like China, Morocco, the US, and France is responsible for the segment's growth. In these nations, adults have been actively engaging in sporting events and leisure sailing activities. Sports yachts are used for maritime activities in the tourism industry, sporting events, and other leisure pursuits including sailing, angling, and other water sports.
Global Yacht Market: By Propulsion
The motor yacht segment is expected to hold the largest share of the market during the forecasted period. The advantages offered by these yachts, comprising of high speeds and power as well as a broad range of distance coverage, have led to a significant market share of the motor yacht segment. People also appreciate these yachts because of the latest systems and equipment that are installed on them. The strong sales of such boats on the global market are largely due to modern equipment.
Global Yacht Market: By Yacht length
The 20 - 50 meters segment is expected to be the fastest-growing market during the forecasted period. Low maintenance costs and light wind sailing capabilities, which assist save fuel and ensure passage in a favorable wind direction, are contributing to the segment's growth. Furthermore, advantages such as cheaper moorage expenses and short draughts for water anchorages make this length size a popular choice among customers.
Global Yacht Market: By Region
During the forecasted period, the North American region is expected to be the dominant force in the global yacht market. The major factors driving the market growth are rising technological improvements in the region, increasing share of higher-income individuals, and growing participation of people in recreational activities is likely to propel the market in the region—increased number of yachts companies in the region, especially in the United States, Canada, and Mexico.
Moreover, the Asia Pacific region is estimated to be the fastest-growing region in the global yacht market. The global yacht market is growing due to increasing urbanization and increased standard of living. Additionally, it is anticipated that the soaring demand for leisure activities, which is being fueled by people's increased participation in maritime leisure activities in nations like the Maldives, Singapore, Thailand, Indonesia, China, and India, will further support the growth of the regional market.
Global Yacht Market Share and Competitor Analysis
Azimut Benetti S.p.A., Damen Shipyards Group , Heesen Group, The San Lorenzo S.p.a, Sunseeker International, Ferretti S.p.A., Alexander Marine International Co., Ltd. (AMI), Princess Yachts Limited, Viking Yacht Company, and others are the key players in the global yacht market.
Please note: This is not an exhaustive list of companies profiled in the report.
Chapter 1 Research Methodology
1.1 Research Assumptions
1.2 Research Methodology
1.2.1 Estimates and Forecast Timeline
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 GME’s Internal Database
1.3.3 Primary Research
1.3.4 Secondary Sources & Third-Party Perspectives
1.3.4.1 Company Information Sources
1.3.4.2 Secondary Data Sources
1.4 Information or Data Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation & Data Visualization
1.6 Data Validation & Publishing
1.7 Market Model
1.7.1 Model Details
1.7.1.1 Top-Down Approach
1.7.1.2 Bottom-Up Approach
1.8 Market Segmentation & Scope
1.9 Market Definition
Chapter 2 Executive Summary
2.1 Global Market Outlook
2.2 By Yacht length Outlook
2.3 By Type Outlook
2.4 By Propulsion Outlook
2.5 Regional Outlook
Chapter 3 Global Yacht Market Trend Analysis
3.1. Market Introduction
3.2 Penetration & Growth Prospect Mapping
3.3 Impact of COVID-19 on the Yacht Market
3.4 Metric Data based on the industry
3.5 Market Dynamic Analysis
3.5.1 Market Driver Analysis
3.5.2 Market Restraint Analysis
3.5.3 Industry Challenges
3.5.4 Industry Opportunities
3.6 Porter’s Five Analysis
3.6.1 Supplier Power
3.6.2 Buyer Power
3.6.3 Substitution Threat
3.6.4 Threat from New Entrant
3.7 Market Entry Strategies
Chapter 4 Yacht Market: Yacht length Trend Analysis
4.1 Yacht length: Historic Data vs. Forecast Data Analysis, 2021 vs. 2027
4.2 Up to 20 Meters
4.2.1 Market Estimates & Forecast Analysis of Up to 20 Meters Segment, By Region, 2019-2027 (USD Billion)
4.3 20 - 50 Meters
4.3.1 Market Estimates & Forecast Analysis of 20 - 50 Meters Segment, By Region, 2019-2027 (USD Billion)
4.4 Above 50 Meters
4.3.1 Market Estimates & Forecast Analysis of Above 50 Meters Segment, By Region, 2019-2027 (USD Billion)
Chapter 5 Yacht Market: By Propulsion Trend Analysis
5.1 By Propulsion: Historic Data vs. Forecast Data Analysis, 2021 vs. 2027
5.2 Motor Yacht
5.2.1 Market Estimates & Forecast Analysis of Motor Yacht, By Region, 2019-2027 (USD Billion)
5.3 Sailing Yacht
5.3.1 Market Estimates & Forecast Analysis of Sailing Yacht Market Segment, By Region, 2019-2027 (USD Billion)
Chapter 6 Yacht Market: By Type Trend Analysis
6.1 By Type: Historic Data vs. Forecast Data Analysis, 2022 vs. 2027
6.2 Super Yacht
6.2.1 Market Estimates & Forecast Analysis of Super Yacht Segment, By Region, 2019-2027 (USD Billion)
6.3 Flybridge Yacht
6.3.1 Market Estimates & Forecast Analysis of Flybridge Yacht Segment, By Region, 2019-2027 (USD Billion)
6.4 Sport Yacht
6.4.1 Market Estimates & Forecast Analysis of Sport Yacht Segment, By Region, 2019-2027 (USD Billion)
6.5 Long Range Yacht
6.5.1 Market Estimates & Forecast Analysis of Long Range Yacht Segment, By Region, 2019-2027 (USD Billion)
6.6 Others
6.6.1 Market Estimates & Forecast Analysis of Others Segment, By Region, 2019-2027 (USD Billion)
Chapter 7 Yacht Market, By Region
7.1 Regional Outlook
7.2 North America
7.2.1 Market Estimates & Forecast Analysis, By Country 2019-2027 (USD Billion)
7.2.2 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.2.3 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.2.4 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.2.5 U.S.
7.2.5.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.2.5.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.2.5.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.2.6 Canada
7.2.6.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.2.6.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.2.6.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.5.7 Mexico
7.5.5.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.5.5.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.5.5.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.3 Europe
7.3.1 Market Estimates & Forecast Analysis, By Country 2019-2027 (USD Billion)
7.3.2 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.3.3 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.3.4 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.3.5 Germany
7.3.5.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.3.5.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.3.5.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.3.6 UK
7.3.6.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.3.6.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.3.6.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.3.7 France
7.3.7.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.3.7.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.3.7.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.3.8 Russia
7.3.8.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.3.8.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.3.8.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.3.9 Italy
7.3.9.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.3.9.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.3.9.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.3.10 Spain
7.3.10.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.3.10.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.3.10.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.3.11 Rest of Europe
7.3.11.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.3.11.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.3.11.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.4 Asia Pacific
7.4.1 Market Estimates & Forecast Analysis, By Country 2019-2027 (USD Billion)
7.4.2 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.4.3 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.4.4 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.4.5 China
7.4.5.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.4.5.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.4.5.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.4.6 India
7.4.6.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.4.6.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.4.6.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.4.7 Japan
7.4.7.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.4.7.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.4.7.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.4.8 Australia
7.4.8.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.4.8.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.4.8.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.4.9 South Korea
7.4.9.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.4.9.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.4.9.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.3.10 Rest of Asia Pacific
7.5 Central & South America
7.5.1 Market Estimates & Forecast Analysis, By Country 2019-2027 (USD Billion)
7.5.2 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.5.3 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.5.4 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.5.5 Brazil
7.5.6 Rest of Central & South America
7.5.6.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.5.6.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.5.6.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.6 Middle East & Africa
7.6.1 Market Estimates & Forecast Analysis, By Country 2019-2027 (USD Billion)
7.6.2 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.6.3 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.6.4 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.6.5 Saudi Arabia
7.6.5.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.6.5.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.6.5.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.6.6 United Arab Emirates
7.6.6.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.6.6.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.6.6.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.6.7 South Africa
7.6.7.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.6.7.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.6.7.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
7.5.8 Rest of Middle East & Africa
7.5.8.1 Market Estimates & Forecast Analysis, By Yacht length, 2019-2027 (USD Billion)
7.5.8.2 Market Estimates & Forecast Analysis, By Propulsion, 2019-2027 (USD Billion)
7.5.8.3 Market Estimates & Forecast Analysis, By Type, 2019-2027 (USD Billion)
Chapter 8 Competitive Analysis
8.1 Key Global Players, Recent Developments & their Impact on the Industry
8.2 Four Quadrant Competitor Positioning Matrix
8.2.1 Key Innovators
8.2.2 Market Leaders
8.2.3 Emerging Players
8.2.4 Market Challengers
8.3 Vendor Landscape Analysis
8.4 End-User Landscape Analysis
8.5 Company Market Share Analysis, 2021
Chapter 9 Company Profile Analysis
9.1 Azimut Benetti S.p.A.
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Strategic Initiatives
9.1.4 Product Benchmarking
9.2 Damen Shipyards Group
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Strategic Initiatives
9.2.4 Product Benchmarking
9.3 Heesen Group
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Strategic Initiatives
9.3.4 Product Benchmarking
9.4 The San Lorenzo S.p.a
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Strategic Initiatives
9.4.4 Product Benchmarking
9.5 Sunseeker International
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Strategic Initiatives
9.5.4 Product Benchmarking
9.6 Ferretti S.p.A.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Strategic Initiatives
9.6.4 Product Benchmarking
9.7 Alexander Marine International Co., Ltd. (AMI)
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Strategic Initiatives
9.7.4 Product Benchmarking
9.8 Princess Yachts Limited
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Strategic Initiatives
9.8.4 Product Benchmarking
9.9 Viking Yacht Company
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Strategic Initiatives
9.9.4 Product Benchmarking
9.10 Other Companies
9.10.1 Company Overview
9.10.2 Financial Analysis
9.10.3 Strategic Initiatives
9.10.4 Product Benchmarking
List of Tables
1 Technological Advancements in Yacht Market
2 Global Yacht Market: Key Market Drivers
3 Global Yacht Market: Key Market Challenges
4 Global Yacht Market: Key Market Opportunities
5 Global Yacht Market: Key Market Restraints
6 Global Yacht Market Estimates & Forecast Analysis, 2019-2027 (USD Billion)
7 Global Yacht Market, Yacht length, 2019-2027 (USD Billion)
8 Up to 20 Meters: Global Yacht Market, By Region, 2019-2027 (USD Billion)
9 20 - 50 Meters: Global Yacht Market, By Region, 2019-2027 (USD Billion)
10 Above 50 Meters: Global Yacht Market, By Region, 2019-2027 (USD Billion)
11 Global Yacht Market, By Propulsion, 2019-2027 (USD Billion)
12 Motor Yacht: Global Yacht Market, By Region, 2019-2027 (USD Billion)
13 Sailing Yacht: Global Yacht Market, By Region, 2019-2027 (USD Billion)
14 Global Yacht Market, By Type, 2019-2027 (USD Billion)
15 Super Yacht: Global Yacht Market, By Region, 2019-2027 (USD Billion)
16 Flybridge Yacht: Global Yacht Market, By Region, 2019-2027 (USD Billion)
17 Sport Yacht: Global Yacht Market, By Region, 2019-2027 (USD Billion)
18 Sport Yacht: Global Yacht Market, By Region, 2019-2027 (USD Billion)
19 Others: Global Yacht Market, By Region, 2019-2027 (USD Billion)
20 Regional Analysis: Global Yacht Market, By Region, 2019-2027 (USD Billion)
21 North America: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
22 North America: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
23 North America: Yacht Market, By Type, 2019-2027 (USD Billion)
24 North America: Yacht Market, By Country, 2019-2027 (USD Billion)
25 U.S: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
26 U.S: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
27 U.S: Yacht Market, By Type, 2019-2027 (USD Billion)
28 Canada: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
29 Canada: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
30 Canada: Yacht Market, By Type, 2019-2027 (USD Billion)
31 Mexico: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
32 Mexico: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
33 Mexico: Yacht Market, By Type, 2019-2027 (USD Billion)
34 Europe: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
35 Europe: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
36 Europe: Yacht Market, By Type, 2019-2027 (USD Billion)
37 Europe: Yacht Market, By Country, 2019-2027 (USD Billion)
38 Germany: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
39 Germany: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
40 Germany: Yacht Market, By Type, 2019-2027 (USD Billion)
41 UK: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
42 UK: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
43 UK: Yacht Market, By Type, 2019-2027 (USD Billion)
44 France: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
45 France: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
46 France: Yacht Market, By Type, 2019-2027 (USD Billion)
47 Italy: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
48 Italy: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
49 Italy: Yacht Market, By Type, 2019-2027 (USD Billion)
50 Spain: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
51 Spain: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
52 Spain: Yacht Market, By Type, 2019-2027 (USD Billion)
53 Rest Of Europe: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
54 Rest Of Europe: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
55 Rest Of Europe: Yacht Market, By Type, 2019-2027 (USD Billion)
56 Asia Pacific: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
57 Asia Pacific: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
58 Asia Pacific: Yacht Market, By Type, 2019-2027 (USD Billion)
59 Asia Pacific: Yacht Market, By Country, 2019-2027 (USD Billion)
60 China: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
61 China: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
62 China: Yacht Market, By Type, 2019-2027 (USD Billion)
63 India: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
64 India: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
65 India: Yacht Market, By Type, 2019-2027 (USD Billion)
66 Japan: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
67 Japan: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
68 Japan: Yacht Market, By Type, 2019-2027 (USD Billion)
69 South Korea: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
70 South Korea: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
71 South Korea: Yacht Market, By Type, 2019-2027 (USD Billion)
72 Middle East & Africa: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
73 Middle East & Africa: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
74 Middle East & Africa: Yacht Market, By Type, 2019-2027 (USD Billion)
75 Middle East & Africa: Yacht Market, By Country, 2019-2027 (USD Billion)
76 Saudi Arabia: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
77 Saudi Arabia: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
78 Saudi Arabia: Yacht Market, By Type, 2019-2027 (USD Billion)
79 UAE: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
80 UAE: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
81 UAE: Yacht Market, By Type, 2019-2027 (USD Billion)
82 Central & South America: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
83 Central & South America: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
84 Central & South America: Yacht Market, By Type, 2019-2027 (USD Billion)
85 Central & South America: Yacht Market, By Country, 2019-2027 (USD Billion)
86 Brazil: Yacht Market, By Yacht length, 2019-2027 (USD Billion)
87 Brazil: Yacht Market, By Propulsion, 2019-2027 (USD Billion)
88 Brazil: Yacht Market, By Type, 2019-2027 (USD Billion)
89 Azimut Benetti S.p.A.: Products Offered
90 Damen Shipyards Group: Products Offered
91 Heesen Group: Products Offered
92 The San Lorenzo S.p.a: Products Offered
93 Sunseeker International: Products Offered
94 Ferretti S.p.A.: Products Offered
95 Viking Yacht Company: Products Offered
96 Alexander Marine International Co., Ltd. (AMI): Products Offered
97 Princess Yachts Limited: Products Offered
98 Other Companies: Products Offered
List of Figures
1. Global Yacht Market Segmentation & Research Scope
2. Primary Research Partners and Local Informers
3. Primary Research Process
4. Primary Research Approaches
5. Primary Research Responses
6. Global Yacht Market: Penetration & Growth Prospect Mapping
7. Global Yacht Market: Value Chain Analysis
8. Global Yacht Market Drivers
9. Global Yacht Market Restraints
10. Global Yacht Market Opportunities
11. Global Yacht Market Challenges
12. Key Yacht Market Manufacturer Analysis
13. Global Yacht Market: Porter’s Five Forces Analysis
14. PESTLE Analysis & Impact Analysis
15. Azimut Benetti S.p.A.: Company Snapshot
16. Azimut Benetti S.p.A.: Swot Analysis
17. Damen Shipyards Group: Company Snapshot
18. Damen Shipyards Group: Swot Analysis
19. Heesen Group: Company Snapshot
20. Heesen Group: Swot Analysis
21. The San Lorenzo S.p.a: Company Snapshot
22. The San Lorenzo S.p.a: Swot Analysis
23. Sunseeker International: Company Snapshot
24. Sunseeker International: Swot Analysis
25. Viking Yacht Company: Company Snapshot
26. Viking Yacht Company: Swot Analysis
27. Alexander Marine International Co., Ltd. (AMI): Company Snapshot
28. Alexander Marine International Co., Ltd. (AMI): Swot Analysis
29. Princess Yachts Limited: Company Snapshot
30. Princess Yachts Limited: Swot Analysis
31. Ferretti S.p.A.: Company Snapshot
32. Ferretti S.p.A.: Swot Analysis
33. Other Companies: Company Snapshot
34. Other Companies: SWOT Analysis
The Global Yacht Market has been studied from the year 2019 till 2027. However, the CAGR provided in the report is from the year 2022 to 2027. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Yacht Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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Yacht Market Analysis Europe, North America, APAC, South America, Middle East and Africa - US, UK, Germany, China, Japan - Size and Forecast 2024-2028
- Published: Jul 2024
- SKU: IRTNTR75339
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Yacht Market Size 2024-2028
The yacht market size is forecast to increase by USD 4.05 billion and is estimated to grow at a CAGR of 7.44% between 2023 and 2028. The market size is experiencing significant growth, driven by several key factors. The increasing popularity of recreational tourism and the expanding high net worth individual (HNWI) population are primary growth catalysts. Moreover, there is a rising demand for eco-friendly yachts, as sustainability becomes a priority for many consumers. These trends are expected to continue fueling the market's expansion in the coming years.
What will be the Size of the Market During the Forecast Period?
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Market Dynamics and Customer Landscape
The market is advancing rapidly with innovations in material technology, focusing on hybrid systems for improved fuel usage and sustainability. Navigation enhancements and varied routes to exotic destinations like those offered by Royal Caribbean's cruise ships appeal to luxury travelers. The market landscape depends on the destination, world economy, hybrid and, customization choices , fly bridge yacht, sports yacht, cruiser yacht, Royal Caribbean, cruise ship, waterpark, Sport yachts. Customization options include custom interiors and specialized features like fly bridge yachts, sports yachts, and cruiser yachts , catering to diverse preferences. The introduction of eco-friendly options like the R30 electric boat underscores a shift towards sustainable practices in marine leisure. As the market adapts to global economic trends, luxury amenities such as waterparks onboard are becoming increasingly prevalent, reflecting a growing demand for opulent and eco-conscious yacht experiences. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Market Driver
The growing popularity of recreational tourism is a major driver influencing the growth of the market during the forecast period. Yachting is often associated with leisure and luxury and demand for yachts will increase as disposable income increases and free time for leisure activities such as surfing, water skiing, diving, and swimming increases.
Moreover, recreational activities have increased across the world as people seek ways to enjoy leisure time and maintain a healthy lifestyle. Hence, such factors drive market growth. Hence, such factors are driving the market growth during the forecast period.
Significant Market Trends
Increased demand for superyachts is an emerging trend boosting the market during the forecast period. The demand for superyachts, which are vessels over 80 feet in length has been steadily increasing. This is due to more buyers seeking larger and more luxurious yachts. The demand for luxury yachts is consistently high as wealthy individuals and families seek the ultimate luxury experience and exclusivity on the water.
Moreover, supery yachts offer unparalleled comfort, style, and personalized service, which makes them popular for high-net-worth individuals, celebrities, and business executives. Superyacht demand in developed countries like the US and the UK tends to be relatively high. Hence, such trends boost market growth during the forecast period.
Major Market Challenge
High maintenance and operating costs are major challenges hindering market growth during the forecast period. Owning a yacht is expensive in terms of the purchase price, maintenance, and operating costs, which can make it difficult for some buyers to justify the expense of owning a yacht, especially in times of economic uncertainty.
Hence, high maintenance and operating costs can significantly impact the sales of yachts. In addition to the initial purchase price, buyers of yachts must consider the ongoing expenses of fuel, maintenance, repairs, and insurance. Thus, the high maintenance and operating expenses cost can make yacht ownership unaffordable for many people, which can impact sales and hamper the growth of the global market during the forecast period.
Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Who are the Major Market Players?
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alexander Marine International Co Ltd. - The company offers yacht such as azimut grande tri deck, 37 legend ocean alexander, and 35 revolution ocean alexander.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
- Alexander Marine International Co Ltd.
- Azimut Benetti SpA
- Cantieri Navali Codecasa Tre SpA
- Dalian Wanda Group
- Damen Shipyards Group
- Feadship Holland BV
- Fincantieri Spa
- Flensburger Schiffbau Gesellschaft mbH
- Fr. Lurssen Werft GmbH
- Heesen Yachts Sales BV
- Horizon Yacht USA
- KPS Capital Partners LP
- Oceanco SAM
- Overmarine Group Spa
- Palmer Johnson
- Palumbo Group Spa
- Sanlorenzo Spa
- THE ITALIAN SEA GROUP SpA
- Viking Yacht Co.
- Westport Yachts
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
What is the Fastest-Growing Segments in the Market?
The market share growth by the motor segment will be significant during the forecast period. In 2022, the motor yacht segment has a major share of the global market. Motor yachts are typically faster and more powerful than sailing yachts, which allows quicker and more efficient travel over longer distances. They also offer more space and amenities like larger cabins, luxurious interiors, and modern entertainment systems. Motor yachts are also easier to maneuver, which makes them more suitable for navigating narrow waterways or docking in tight spaces. The high share of this segment is because of the advantages offered by motor yachts, such as high speed and performance, and long-range coverage.
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The motor segment showed a gradual increase in the market share of USD 6.09 billion in 2018 . These yachts are highly preferred by people because of the advanced systems and equipment, such as connected devices on board. Modern equipment is a major factor in selling such yachts globally. The robust demand for motor yachts indicates a strong interest in purchasing or using motor yachts for various purposes, such as cruising, fishing, or leisure activities. Hence, such trends will boost the segment growth during the forecast period.
Which are the Key Regions for the Market?
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APAC is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Another significant region contributing to the market growth is Europe. In 2022, Europe had the highest market share of the global market. The demand for yachts in Europe is driven by many factors, which include the region's vast coastline, a high concentration of wealthy individuals, and favorable weather conditions for boating activities. The demand is mostly driven by increased fishing and other water sports such as water skiing, diving, and swimming in European countries. Hence, such factors are driving the market growth in Europe during the forecast period.
- Segment Overview
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
- Rest of Europe
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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Market Analyst Overview
The market is experiencing significant growth driven by advancements in technology and increasing demand for luxury travel experiences. Innovations such as smart connectivity, advancements in materials like aluminum and hybrid systems, and the integration of artificial intelligence have transformed yacht design. Manufacturers like Sunreef Yachts and Columbus Yachts are leading the way with models such as the 80 Sunreef Power and custom boats that offer distinctive amenities and customizable interiors.
Safety and efficiency improvements in diesel engines, fuel injection, and electronic controls enhance the sailing experience while reducing pollution, vibration, and noise levels. Yachts like the Royal Caribbean's Icon of the Seas feature opulent suites and onboard amenities like waterparks, appealing to luxury travelers . The market's growth analysis and forecasting consider factors like economy fluctuations, initial costs, taxes, and registration fees, influencing new sales and customizing choices in the yacht industry . Overall, the market continues to evolve with a focus on luxury, performance, and sustainability, offering bespoke cruising experiences tailored to discerning global clientele.
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| Report Coverage | Details |
| Page number | 148 |
| Base year | 2023 |
| Historic period | 2018 - 2022 |
| Forecast period | 2024-2028 |
| Growth momentum & CAGR | Accelerate at a CAGR of 7.44% |
| Market growth 2024-2028 | USD 4.05 billion |
| Market structure | Fragmented |
| YoY growth 2023-2024(%) | 6.4 |
| Regional analysis | Europe, North America, APAC, South America, and Middle East and Africa |
| Performing market contribution | APAC at 37% |
| Key countries | US, UK, Germany, China, and Japan |
| Competitive landscape | Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
| Key companies profiled | Alexander Marine International Co Ltd., Azimut Benetti SpA, Cantieri Navali Codecasa Tre SpA, Dalian Wanda Group, Damen Shipyards Group, Feadship Holland BV, Fincantieri Spa, Flensburger Schiffbau Gesellschaft mbH, Fr. Lurssen Werft GmbH, Heesen Yachts Sales BV, Horizon Yacht USA, KPS Capital Partners LP, Oceanco SAM, Overmarine Group Spa, Palmer Johnson, Palumbo Group Spa, Sanlorenzo Spa, THE ITALIAN SEA GROUP SpA, Viking Yacht Co., and Westport Yachts |
| Market dynamics | Parent market analysis, market growth analysis, market research and growth, Market forecasting, market report, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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What are the Key Data Covered in this Market Research Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the market between 2023 and 2027
- Precise estimation of the size of the market and its contribution of the market with a focus to the parent market
- Accurate predictions about upcoming trends and changes in consumer behaviour
- Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
- Thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of market vendors
We can help! Our analysts can customize this market research report to meet your requirements.
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1 Executive Summary
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market by Geography
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Market Segmentation by Application
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning
2 Market Landscape
- Parent Market
- Data Table on - Parent Market
- Market characteristics analysis
- Value Chain Analysis
3 Market Sizing
- Offerings of companies included in the market definition
- Market segments
- 3.3 Market size 2023
- Chart on Global - Market size and forecast 2023-2028 ($ million)
- Data Table on Global - Market size and forecast 2023-2028 ($ million)
- Chart on Global Market: Year-over-year growth 2023-2028 (%)
- Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
- Historic Market Size - Data Table on Global Yacht Market 2018 - 2022 ($ million)
- Historic Market Size - Type Segment 2018 - 2022 ($ million)
- Historic Market Size - Application Segment 2018 - 2022 ($ million)
- Historic Market Size - Geography Segment 2018 - 2022 ($ million)
- Historic Market Size - Country Segment 2018 - 2022 ($ million)
5 Five Forces Analysis
- Five forces analysis - Comparison between 2023 and 2028
- Bargaining power of buyers - Impact of key factors 2023 and 2028
- Bargaining power of suppliers - Impact of key factors in 2023 and 2028
- Threat of new entrants - Impact of key factors in 2023 and 2028
- Threat of substitutes - Impact of key factors in 2023 and 2028
- Threat of rivalry - Impact of key factors in 2023 and 2028
- Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Type
- Chart on Type - Market share 2023-2028 (%)
- Data Table on Type - Market share 2023-2028 (%)
- Chart on Comparison by Type
- Data Table on Comparison by Type
- Chart on Motor - Market size and forecast 2023-2028 ($ million)
- Data Table on Motor - Market size and forecast 2023-2028 ($ million)
- Chart on Motor - Year-over-year growth 2023-2028 (%)
- Data Table on Motor - Year-over-year growth 2023-2028 (%)
- Chart on Sailing - Market size and forecast 2023-2028 ($ million)
- Data Table on Sailing - Market size and forecast 2023-2028 ($ million)
- Chart on Sailing - Year-over-year growth 2023-2028 (%)
- Data Table on Sailing - Year-over-year growth 2023-2028 (%)
- Market opportunity by Type ($ million)
- Data Table on Market opportunity by Type ($ million)
7 Market Segmentation by Application
- Chart on Application - Market share 2023-2028 (%)
- Data Table on Application - Market share 2023-2028 (%)
- Chart on Comparison by Application
- Data Table on Comparison by Application
- Chart on Commercial - Market size and forecast 2023-2028 ($ million)
- Data Table on Commercial - Market size and forecast 2023-2028 ($ million)
- Chart on Commercial - Year-over-year growth 2023-2028 (%)
- Data Table on Commercial - Year-over-year growth 2023-2028 (%)
- Chart on Private - Market size and forecast 2023-2028 ($ million)
- Data Table on Private - Market size and forecast 2023-2028 ($ million)
- Chart on Private - Year-over-year growth 2023-2028 (%)
- Data Table on Private - Year-over-year growth 2023-2028 (%)
- Market opportunity by Application ($ million)
- Data Table on Market opportunity by Application ($ million)
8 Customer Landscape
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- Chart on Market share by geography 2023-2028 (%)
- Data Table on Market share by geography 2023-2028 (%)
- Chart on Geographic comparison
- Data Table on Geographic comparison
- Chart on Europe - Market size and forecast 2023-2028 ($ million)
- Data Table on Europe - Market size and forecast 2023-2028 ($ million)
- Chart on Europe - Year-over-year growth 2023-2028 (%)
- Data Table on Europe - Year-over-year growth 2023-2028 (%)
- Chart on North America - Market size and forecast 2023-2028 ($ million)
- Data Table on North America - Market size and forecast 2023-2028 ($ million)
- Chart on North America - Year-over-year growth 2023-2028 (%)
- Data Table on North America - Year-over-year growth 2023-2028 (%)
- Chart on APAC - Market size and forecast 2023-2028 ($ million)
- Data Table on APAC - Market size and forecast 2023-2028 ($ million)
- Chart on APAC - Year-over-year growth 2023-2028 (%)
- Data Table on APAC - Year-over-year growth 2023-2028 (%)
- Chart on South America - Market size and forecast 2023-2028 ($ million)
- Data Table on South America - Market size and forecast 2023-2028 ($ million)
- Chart on South America - Year-over-year growth 2023-2028 (%)
- Data Table on South America - Year-over-year growth 2023-2028 (%)
- Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
- Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
- Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Chart on US - Market size and forecast 2023-2028 ($ million)
- Data Table on US - Market size and forecast 2023-2028 ($ million)
- Chart on US - Year-over-year growth 2023-2028 (%)
- Data Table on US - Year-over-year growth 2023-2028 (%)
- Chart on UK - Market size and forecast 2023-2028 ($ million)
- Data Table on UK - Market size and forecast 2023-2028 ($ million)
- Chart on UK - Year-over-year growth 2023-2028 (%)
- Data Table on UK - Year-over-year growth 2023-2028 (%)
- Chart on Germany - Market size and forecast 2023-2028 ($ million)
- Data Table on Germany - Market size and forecast 2023-2028 ($ million)
- Chart on Germany - Year-over-year growth 2023-2028 (%)
- Data Table on Germany - Year-over-year growth 2023-2028 (%)
- Chart on China - Market size and forecast 2023-2028 ($ million)
- Data Table on China - Market size and forecast 2023-2028 ($ million)
- Chart on China - Year-over-year growth 2023-2028 (%)
- Data Table on China - Year-over-year growth 2023-2028 (%)
- Chart on Japan - Market size and forecast 2023-2028 ($ million)
- Data Table on Japan - Market size and forecast 2023-2028 ($ million)
- Chart on Japan - Year-over-year growth 2023-2028 (%)
- Data Table on Japan - Year-over-year growth 2023-2028 (%)
- Market opportunity by geography ($ million)
- Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Opportunity/Restraints
- 10.1 Market drivers
- 10.2 Market challenges
- Impact of drivers and challenges in 2023 and 2028
- 10.4 Market opportunities/restraints
11 Competitive Landscape
- 11.1 Overview
- Overview on criticality of inputs and factors of differentiation
- Overview on factors of disruption
- Impact of key risks on business
12 Competitive Analysis
- Companies covered
- Matrix on companies position and classification
- Alexander Marine International Co Ltd. - Overview
- Alexander Marine International Co Ltd. - Product / Service
- Alexander Marine International Co Ltd. - Key offerings
- Azimut Benetti SpA - Overview
- Azimut Benetti SpA - Product / Service
- Azimut Benetti SpA - Key offerings
- Damen Shipyards Group - Overview
- Damen Shipyards Group - Product / Service
- Damen Shipyards Group - Key offerings
- Feadship Holland BV - Overview
- Feadship Holland BV - Product / Service
- Feadship Holland BV - Key offerings
- Fincantieri Spa - Overview
- Fincantieri Spa - Business segments
- Fincantieri Spa - Key offerings
- Fincantieri Spa - Segment focus
- Flensburger Schiffbau Gesellschaft mbH - Overview
- Flensburger Schiffbau Gesellschaft mbH - Product / Service
- Flensburger Schiffbau Gesellschaft mbH - Key offerings
- Fr. Lurssen Werft GmbH - Overview
- Fr. Lurssen Werft GmbH - Product / Service
- Fr. Lurssen Werft GmbH - Key offerings
- Heesen Yachts Sales BV - Overview
- Heesen Yachts Sales BV - Product / Service
- Heesen Yachts Sales BV - Key offerings
- Horizon Yacht USA - Overview
- Horizon Yacht USA - Product / Service
- Horizon Yacht USA - Key offerings
- KPS Capital Partners LP - Overview
- KPS Capital Partners LP - Product / Service
- KPS Capital Partners LP - Key offerings
- Oceanco SAM - Overview
- Oceanco SAM - Product / Service
- Oceanco SAM - Key offerings
- Overmarine Group Spa - Overview
- Overmarine Group Spa - Product / Service
- Overmarine Group Spa - Key offerings
- Palmer Johnson - Overview
- Palmer Johnson - Product / Service
- Palmer Johnson - Key offerings
- Palumbo Group Spa - Overview
- Palumbo Group Spa - Product / Service
- Palumbo Group Spa - Key offerings
- THE ITALIAN SEA GROUP SpA - Overview
- THE ITALIAN SEA GROUP SpA - Business segments
- THE ITALIAN SEA GROUP SpA - Key offerings
- THE ITALIAN SEA GROUP SpA - Segment focus
13 Appendix
- 13.1 Scope of the report
- Inclusions checklist
- Exclusions checklist
- Currency conversion rates for US$
- Research methodology
- Information sources
- Data validation
- Validation techniques employed for market sizing
- Data synthesis
- 360 degree market analysis
- List of abbreviations
Frequently Asked Questions?
How big is the yacht market market , what is the yacht market market growth, which segment accounted for the largest yacht market market share , who are the key players in the yacht market market , what are the factors driving the yacht market market .
- Growing popularity of recreational tourism
- Increased demand for superyachts
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Berthon publishes an annual Market Report, reviewing yacht sales over the previous year and looking at what we believe will be the important trends and changes in the year ahead. Berthon are bluewater specialists and manage luxury yacht sales through a network of international offices.
Download Market Report 2024 (6.33MB)
- The Market Report 2024 by Sue Grant
- Sailing Yacht Review by Alan McIlroy & Harry Lightfoot
- Motor Yacht Review by Hugh Rayner & Harry Hamson
- Performance Yacht Review by Ben Cooper
- New Motor Yacht Sales by Robert Steadman
- Marketing Team Report by Lawrence Carter, Sophie Kemp , Harry Shutler & Isabel Moss
- Berthon USA Review by Jennifer Stewart , Alan Baines , Bill Rudkin , Peter Houghton & Jeanie Houghton
- Berthon Spain Review Yacht Sales by Simon Turner & Nathalie Miquel-Elcano
- Berthon Spain Review Service and Refit by Rowan Fairbrass
- Berthon Scandinavia Review by Magnus Kullberg
- Solaris Yachts Review by Richard Baldwin & Alan McIlroy
- VAT / Customs – It’s a New Dawn, It’s a New Day… by Simon Anslow of PKF Francis Clark
- Bluewater Cruisers – The Future Is Now by Marko Paš of Marine Designs (founder & director of Pegasus Yachts)
- World ARC – Sailing Your Dream by Rachel Hibberd, World Cruising Club
- Checkmate (Our New Look Cool Board)
- Mending the Marine Industry Skills Gap by Keith Longman
- Yacht Ownership – the March Towards an Easier Life by Sue Grant
- Yacht Brokerage Bumps in the Road for 2024
- Berthon Forecast 2024 by Sue Grant
The Adjoining Berthon Collection
Last Year’s Market Report 2023
- The Market Report 2023 by Sue Grant
- Sailing Yacht Review by Alan McIlroy; Footnote by Harry Lightfoot
- Motor Yacht Review by Hugh Rayner; Footnote by Harry Hamson, on Windy Brokerage
- A word from Michael White , affectionately known by the team as Chalky
- Berthon USA Review by Jennifer Stewart, Alan Baines, Bill Rudkin, Mark von Drashek and Peter Houghton
- Berthon France Review by Isabelle Skaf
- Berthon Spain Review Service & Refit by Rowan Fairbrass
- Berthon Spain Review Yacht Sales by Simon Turner, Ben Toogood and Nathalie Miquel-Elcano
- Solaris Review by Richard Baldwin and Alan McIlroy
- VAT / Customs – A Brave New World by Simon Anslow
- Keep Calm and Carry on Yachting by Sue Grant
- Yacht Transport by Mike Herrebrugh, Sevenstar Yacht Transport
- COOL to the point of freezing
- Harry Camera @ Berthon by Sue Grant
- Yacht Finance in 2023 – Close Brothers, Aviation and Marine by James Crew, Marine Sales Director
- Information Overload by Sue Grant
- Yacht Sales in the 21st Century by Sue Grant
- 2023 Berthon Forecast by Sue Grant
Last Year’s Market Report 2022
- The Market Report 2022 by Sue Grant
- Sailing Yacht Review by Alan McIlroy; Footnotes from Sophie Kemp & Harry Lightfoot
- Motor Yacht Review by Robert Steadman; A footnote from Harry Hamson
- New Motor Yacht Sales by Hugh Rayner
- Berthon USA Review by Jennifer Stewart, Alan Baines, Bill Rudkin and Mark von Drashek
- Berthon France Review by Bruno Kairet
- Berthon Spain Review Service & Refit by Andrew Fairbrass
- Berthon Spain Review Yacht Sales by Simon Turner and Ben Toogood
- Canine Stick Report by the Canine Division
- VAT Life After Brexit – One Year On By Simon Anslow
- The Practicalities & Possibilities of Delivery by Sea by Peter Kloezeman
- The Wallflowers of a Buoyant Market by Sue Grant
- Yacht Insurance by Richard Power
- COVID-19 and the Yacht Market by Sue Grant
- Yachting & the Supply Chain by Sue Grant
- 2022 Berthon Forecast by Sue Grant
Market Report 2021
- The Market Report 2021 by Sue Grant
- Sailing Yacht Review by Alan McIlroy; A footnote from Sophie Kemp
- Berthon Spain Review Yacht Sales by Simon Turner
- The Other Side of Brexit – VAT & Customs by Simon Anslow
- Brexit & Yacht Registration by Duncan Swanson – The UK Ship Register & Yachts in a post Brexit environment by Duncan Swanson of Ocean Skies.
- The Recreational Craft Directive by Alasdair Reay
- International Boat Shows by Sue Grant
- COVID-19 and The Yacht Market by Sue Grant
- The Business End of the Yachting Business and Meeting the Yachtsman’s Expectation by David Tydeman
- 2021 Berthon Forecast by Sue Grant
Market Report 2020
- The Market Report 2020 by Sue Grant
- Sailing Yacht Review by Alan McIlroy; footnote by Sophie Kemp
- Motor Yacht Review by Hugh Rayner
- The Windy UK and Pearl Yachts Review by Ben Toogood
- The Iguana Yachts Review by Robert Steadman
- Berthon USA Review by Jennifer Stewart and Alan Baines
- Berthon Spain Review by Andrew Fairbrass
- Solaris Review by Alan McIlroy and Richard Baldwin
- VAT vs. Brexit by Simon Anslow
- Brexit and getting on with life…
- Saving the Planet and Yachting
- Our Old Friend Currency
- Buying a New Yacht – some of the pitfalls, along with the fun
- The 2020 Berthon Forecast by Sue Grant
Editor’s Note: Much of the 2020 Berthon Market Report was written before the Covid-19 crisis gathered momentum. We decided to continue with this publication, just updated slightly. Of course we cannot know the impact of this crisis on all aspects of life going forward not just yachting, so we will not guess. We ask you all to stay safe, keep well and we hope that you will enjoy these jottings.
Market Report 2019
- Market Report 2019 Opening Remarks By Sue Grant
- Sailing Yacht Review By Alan McIlroy; footnote by Sophie Kemp
- Motor Yacht Review By Hugh Rayner; footnote by Robert Steadman
- Performance Yacht Review By Ben Cooper
- The Windy UK, Pearl and Iguana Review By Ben Toogood
- Berthon USA Review By Jennifer Stewart, Alan Baines, Bill Rudkin and Mark von Drashek
- Berthon France Review By Bruno Kairet
- Berthon Spain Review By Andrew Fairbrass
- Solaris Review By Richard Baldwin and Alan McIlroy
- THE CONFIDENCE & CURRENCY GAME
- INTERIOR DESIGN FOR YACHTS and why it matters…
- INFORMATION DELIVERY and the WORLDWIDE WEB in 2019
- HIGH LATITUDE CRUISING Steve & Linda Dashew look at the design and the risks
- IPV – BERTHON BRINGS YOU ANOTHER NEW ACRONYM TO CONJURE WITH…
- TECHNOLOGY and the YACHT MARKET
- 2019 Berthon Forecast By Sue Grant
Market Report 2018
- Market Report 2018 (Opening Remarks) By Sue Grant
- Sailing Yacht Review By Alan McIlroy and Sophie Kemp
- Motor Yacht Review By Hugh Rayner
- Performance Yacht and Advanced Yachts Review By Ben Cooper
- Solaris Review By Richard Baldwin
- The Windy UK Review By Ben Toogood
- Berthon USA Review By Jennifer Stewart, Alan Baines and Bill Rudkin
- A word about GDPR
- The Pacific and Southern Hemisphere as a cruising destination
- Technology in Design moving through the build process
- Residual Yacht value and the cost of having fun
- Talking points – cool to the point of freezing
- VAT and Brexit- What it might, might not and certainly won’t mean
- The Magic of Film
- General overview of the international stock markets and economies
- 2018 Berthon Forecast
Download Past Issues of the Berthon Market Report
- Berthon Market Report 2023 (PDF 9.16MB)
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Home ➤ Automotive and Transportation ➤ Automotive components ➤ Yacht Market
Global Yacht Market By Type (Flybridge Yacht, Super Yacht, Sport Yacht, Long Range Yacht and Other Types) By Length (Up to 20 Meters, 20-50 Meters and Above 50 Meters) By Propulsion (Motor Yacht and Sailing Yacht) By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: Jan 2024
- Report ID: 29677
- Number of Pages: 290
- Table of Contents
- Major Market Players
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Market Overview
Key takeaways, opportunity, by type analysis, by length analysis, by propulsion analysis, key market segments, regional analysis, market share & key players analysis, recent developments, report scope.
The Global Yacht Market size is expected to be worth around USD 16.8 Billion by 2033 , from USD 10.3 Billion in 2023 , growing at a CAGR of 5.8% during the forecast period from 2024 to 2033.
This growth is driven by increasing interest in boating activities, higher purchasing power, and the rise of luxury yacht destinations. The International Monetary Fund’s projection of China’s economy growing by 40% by 2028 and the anticipated USD 552.8 billion recreational expenditure in the United States in 2023 exemplify the increasing disposable income globally. Additionally, tourist hotspots with oceanic borders, like the Netherlands, UK, Italy, and UAE, contribute to this market’s growth.
Technological advancements and environmentally conscious designs are pivotal in this market. The International Maritime Organization’s directive to cut CO2 emissions by 70% by 2050 has led to the development of more efficient, eco-friendly yachts . This shift reflects the growing environmental awareness among high-net-worth individuals.
The market has also evolved in manufacturing practices, shifting from traditional wood and fiber-reinforced polymers to advanced composites, offering benefits like corrosion resistance and improved strength-to-weight ratios. Innovations like electronically controlled fuel injection systems enhance yacht efficiency, reducing noise, vibration, and emissions.
Despite the high ownership costs, yacht rental services like Sailogy S.A. and Boatbound Inc. have made luxury yachting more accessible. The COVID-19 pandemic initially impacted the market, but recovery is underway as restrictions ease and interest in leisure activities grows.
- The Yacht Market is expected to reach a value of USD 16.80 billion by the year 2032 .
- This growth is projected to have a CAGR of 5.80% from 2024 to 2032.
- In 2023, the Yacht Market was valued at USD 10.3 billion.
- The International Monetary Fund predicts a 40% growth in China’s economy by 2028.
- The Super Yacht Segment held a dominant position, capturing 30.5% of the market share.
- The 20-50 Meters Segment led the market, accounting for 56% of the market share.
- The Motor Yacht Segment was predominant, securing 84% of the market share.
- Increased Disposable Income and Yacht Renting Trend : The yacht market is growing due to higher disposable incomes worldwide. For example, the U.S. Department of Commerce reported a 3.5% increase in recreational spending share of consumer spending from 2013 to 2022. In the EU, recreational spending was 1.2% of GDP in 2021. Technological advancements in yacht engines, enhancing speed and reducing emissions, noise, and vibration, contribute to this growth.
- Demand for Luxury and Customization : With the increasing demand for luxury yachts, manufacturers are focusing on luxurious features and customization to meet customer needs, thus propelling market growth.
- Growth in Marine Tourism and Water Sports : The popularity of water sports and marine tourism has led to the development of high-power, high-speed yachts, further driving market expansion.
- Safety Concerns and Strict Regulations : The yacht market faces challenges due to safety concerns and strict regulations on speed and emissions. The California Air Resources Board (CARB) proposed emission regulations for yachts in September 2021, aiming to minimize harmful emissions.
- Environmental Impact : Yachts can significantly affect marine ecosystems, leading to concerns about water quality degradation and marine life harm. Efforts to reduce yacht-related pollution require collaboration among manufacturers, consumers, and regulators.
- Advent of AI and Electrification : The integration of AI , machine learning, and electrification in yachts is transforming the industry, and creating new opportunities. For instance, Porsche and Frauscher Shipyard’s development of the electric Frauscher x Porsche 850 Fantom Air in June 2023 exemplifies this trend.
- Yacht Renting Trends : The renting of luxury yachts for special occasions, leisure activities, and corporate meetings is expanding market opportunities.
- Electrification of Yachts : The shift to electric yachts, due to environmental concerns and rising fuel prices, is a growing trend. Investments in R&D and government support are accelerating this shift.
- Technological Advancements in Yacht Manufacturing : The use of 3D printing and sustainable power sources in yacht manufacturing is on the rise, enhancing customization and reducing costs.
- Generational Influence : Millennials are significantly impacting the luxury yacht market. Their preference for unique experiences over mere ownership is reshaping industry dynamics. This generational shift is driving demand and leading to innovations tailored to these new preferences.
- Independent Travelers : The rise in independent travel is another trend shaping the market. Technological advancements have made it easier for people to plan and embark on solo yacht adventures.
- Online Booking : The preference for online booking channels is growing. Prospective yacht owners and renters are increasingly using online platforms to compare prices, features, and types, making informed decisions based on a wide range of available options.
- Government Initiatives and Policies : Policies aimed at boosting tourism and maritime activities are playing a crucial role in market growth, especially in Europe and Asia Pacific. These initiatives are encouraging investments in coastal areas and recreational activities, enhancing the attractiveness of yachting as a leisure activity.
Luxury Yacht Market Trends
- Increasing Number of Billionaires : According to Forbes, the U.S. had 735 billionaires in 2021, followed by China with 495. In India, the number of billionaires increased from 102 in 2020 to 166 in 2022, with their wealth growing by 46% in 2022. Bloomberg reports that around 131 billionaires doubled their net worth during the pandemic. This increase in ultra-wealthy individuals is driving luxury yacht demand.
- Green Yachting : Millennials, making up to 40% of yacht buyers, are shifting towards eco-friendly yachting. The International Maritime Organization aims to reduce greenhouse gas emissions by 50% from 2008 levels by 2050.
In 2023, the Super Yacht segment held a dominant position in the yacht market, capturing a significant 30.5% share . This dominance can be attributed to the high popularity of these yachts among end-users, with their luxury features and advanced amenities making them a preferred choice for high-net-worth individuals and yacht enthusiasts.
- Super Yacht Segment : Dominating the market with over 30% revenue share in 2023, Super Yachts, typically ranging from 30-50 meters in length, are favored for their luxurious offerings, though smaller than Mega Yachts. Key players like Sanlorenzo Spa and Lürssen, holding over 11% of the market share, focus on innovative designs and high-end customizations to cater to the affluent market. This segment is expected to see substantial growth through 2024-2033, driven by rising demand and advancements in yacht technology.
- Sport Yacht Segment : Forecasted as the fastest-growing segment, Sport Yachts are gaining traction, especially in countries like China and France. Their popularity is linked to the active participation in recreational boating and sporting events. These yachts, used for marine tourism, sports tournaments, and various water activities, are propelling the segment’s growth. The increasing demand for recreational tournaments and outdoor activities offers significant revenue-generation opportunities for various stakeholders in the industry.
- Flybridge Yacht Segment : Flybridge Yachts, known for their elevated control station or ‘flybridge’, offers a unique blend of outdoor experience and control. While not as dominant as Super or sports yachts, this segment caters to a niche market that values outdoor navigation and leisure.
- Long Range Yacht Segment : Long Range Yachts are designed for extended voyages, offering durability and high fuel efficiency. This segment, though smaller, caters to a growing clientele interested in remote explorations and extended sea journeys. The demand in this segment is expected to rise, influenced by the increasing interest in remote tourism and adventure activities.
- Other Types : This category includes various specialized yachts like Mega Yachts, which are over 50 meters in length and equipped with luxury amenities such as swimming pools, movie halls, and gyms. These yachts are generally used for leisure and recreation by large groups and are mostly owned by organizations.
In 2023, the 20-50 Meters segment held a dominant position in the yacht market, capturing a significant 56% share . This segment’s lead is largely due to its balance of size and functionality, offering benefits like fuel efficiency, easier maneuverability, and lower maintenance costs compared to larger yachts.
- 20-50 Meters Segment : Dominating the market with over 56% revenue share in 2023, this segment is expected to maintain its lead. Yachts in this range offer advantages such as the ability to sail in light winds, lower moorage costs, and shallower drafts for water anchorages. This size range is versatile, and suitable for both leisure and corporate usage, making it a popular choice among yacht enthusiasts.
- Up to 20 Meters Segment : Yachts within this size are in demand for competitive and recreational purposes. In regions like Europe and North America, there’s a growing trend of integrating renewable energy sources like solar and wind energy in yachts, leading to lower emissions and reduced fuel consumption. These yachts are generally compact and lightweight, favored for their eco-friendliness and efficiency. The segment’s growth is bolstered by this increasing focus on sustainability and the rising popularity of maritime leisure activities.
- Above 50 Meters Segment : While not as dominant as the other two, the Above 50 Meters segment is significant, especially in the luxury yacht market. These large yachts, including superyachts and megayachts, are more prevalent in developed countries, often used for commercial purposes and high-end tourism. The market for these yachts is expected to exhibit notable growth, driven by a surge in luxury tourism and the preferences of high-net-worth individuals for grand and exclusive sea experiences.
In 2023, the Motor Yacht segment held a dominant position in the yacht market, capturing a significant 84% share . This dominance is primarily due to the segment’s advantages such as higher speed, power, and the ability to cover longer distances, appealing to a broad range of yacht enthusiasts.
- Motor Yacht Segment : The popularity of this segment stems from their advanced features, long-distance coverage, and high-speed capabilities. Motor yachts, equipped with modern systems and equipment, cater to a clientele seeking luxury, convenience, and performance. With multi-deck designs and spacious interiors, these yachts are ideal for large groups. The segment is forecasted to grow at a CAGR of ~6% from 2024 to 2033, driven by rising demand for recreational activities and ongoing technological advancements.
- Sailing Yacht Segment : Sailing yachts, which use sails for propulsion, depending on wind speed and direction. Although they can cover long distances, the design and onboard facilities of motor yachts often make them more attractive to buyers. However, sailing yachts, known for their eco-friendliness, modern design, luxurious amenities, and large deck space, continue to have a dedicated market segment. The demand for sailing yachts is expected to grow, fueled by the increasing interest in recreational sailing and the rising focus on environmental sustainability.
- Flybridge Yacht
- Super Yacht
- Sport Yacht
- Long Range Yacht
- Other Types
- Up to 20 Meters
- 20-50 Meters
- Above 50 Meters
By Propulsion
- Motor Yacht
- Sailing Yacht
In 2023, Europe is leading the yacht market with a substantial 33.6% share , amounting to USD 3.2 billion . This dominance is attributed to the region’s high concentration of billionaires and rapidly growing wealth. Scenic destinations like Greece and Italy are at the forefront, driven by extensive tourism and private yacht parties. The European Union Council’s initiative, the European Agenda for Tourism 2030, aimed at enhancing digital and green tourism, further bolsters this growth.
In 2022, the introduction of 606 new yachts marked a record in sales, signifying the region’s robust market dynamics. The high demand for yachting in tourist hotspots like Greece, Croatia, Spain, Italy, and France, coupled with the popularity of fishing and water sports, fuels the market’s expansion. Notably, about 40% of all new 40-meter yachts globally were purchased by European customers over the last five years, indicating the region’s significant market share.
The Asia Pacific region is projected to be the fastest-growing market. Rapid urbanization, rising living standards, and increasing disposable incomes are key drivers. Leisure activities like fishing, water sports, and maritime tourism are gaining traction in countries like Thailand, Malaysia, Singapore, China, Japan, and Australia. Aggressive government initiatives, such as India’s Swadesh Darshan Scheme and the Incredible India campaign, are expected to significantly propel this market forward.
Key Regions and Countries:
- Switzerland
- Rest of Western Europe
- The Czech Republic
- Rest of Eastern Europe
- South Korea
- Australia & New Zealand
- Philippines
- Rest of APAC
- Rest of Latin America
- Saudi Arabia
- South Africa
- United Arab Emirates
- Rest of MEA
In order to expand the market across the globe, the key market companies are taking initiatives and making strategies like mergers & acquisitions, partnerships, making investments, and launching new products and services.
Some of the major companies in the market are Princess Yachts Limited, Viking Yacht Company, Heesen Yachts Sales B.V., Horizon Yacht Company, Cheoy Lee Shipyards Limited, Christensen Shipyards Ltd., Damen Yachting BV, and many other companies.
Key Market Players
- Alexander Marine International Co. Ltd.
- Princess Yachts Limited
- Viking Yacht Company
- Heesen Yachts Sales B.V.
- Horizon Yacht Company
- Cheoy Lee Shipyards Limited
- Christensen Shipyards Ltd.
- Damen Yachting BV
- Dyna Craft Ltd.
- Ferretti S.p.a
- Other Key Players
- October 2023 : Four Seasons entered the yacht market by announcing the launch of Four Seasons Yachts. This ambitious venture is expected to commence sailing by late 2025, marking the luxury hotel brand’s expansion into maritime luxury.
- June 2023 : Sanlorenzo unveiled its 47-meter explorer yacht, Para Bellum, the tenth addition to its successful 460-500 EXP series. Featuring twin Caterpillar engines, the yacht reaches a cruising speed of 13 knots. In the same month, Sparta, a superyacht with styling by Winch Design, was introduced. It boasts a sleek “Venetian red” and metallic grey hull, combining elegant aesthetics with high performance.
- May 2023 : The Kadey-Krogen Group, based in Florida, acquired American Tugs, a leading builder of U.S.-built coastal cruisers. Founded in 1999, American Tugs has a strong presence in North America and Europe and has delivered over 250 cruising yachts from its 2,600 sq.m. facility in LaConner, Washington.
- April 2023 : Ferretti Group launched the Pershing 140, its first aluminum flagship model, from the Ancona facility. Equipped with four MTU 16V 2000 M96L engines, each with 2,600 hp, the yacht offers a cruising speed of 35 knots and a top speed of 38 knots.
- March 2023 : Ferretti Group expanded its manufacturing capabilities by acquiring a 70,000-sq.m. production site in Ravenna. The company plans to invest USD 87 million in this facility, aiming for a 20% increase in production through new spaces and R&D centers.
- September 2022 : Ferretti Group took significant stakes in Masello Srl and Fratelli Canalicchio SpA, both Italy-based companies specializing in yacht furnishings and kinetic systems, respectively.
- January 2023 : Accor announced the launch of the world’s largest luxury sailing ship, set to debut in 2026. This megayacht will feature 54 suites, highlighting Accor’s commitment to luxury and innovation in maritime leisure.
| Forecast Revenue (2032) | USD 16.8 Bn |
| CAGR (2023-2032) | 5.8% |
| Base Year for Estimation | 2023 |
| Historic Period | 2017-2023 |
| Forecast Period | 2024-2033 |
| Report Coverage | Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments |
| Segments Covered | By Type (Flybridge Yacht, Super Yacht, Sport Yacht, Long Range Yacht and Other Types) By Length (Up to 20 Meters, 20-50 Meters and Above 50 Meters) By Propulsion (Motor Yacht and Sailing Yacht) |
| Regional Analysis | North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; the Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA |
| Competitive Landscape | Alexander Marine International Co. Ltd., Princess Yachts Limited, Viking Yacht Company, Heesen Yachts Sales B.V., Horizon Yacht Company, Cheoy Lee Shipyards Limited, Christensen Shipyards Ltd., Damen Yachting BV, Dyna Craft Ltd., Feadship, Ferretti S.p.a and Other Key Players. |
| Customization Scope | Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. |
| Purchase Options | We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) |
Frequently Asked Questions (FAQ)
In 2032, the Yacht Market Market will reach USD 16.8 billion.
The Yacht Market Market is expected to grow at 5.8% CAGR (2023-2032).
Alexander Marine International Co. Ltd., Princess Yachts Limited, Viking Yacht Company,Heesen Yachts Sales B.V., Horizon Yacht Company and Other Key Players are the main vendors in this market.
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Yacht Market Report: the Only Way is Up
Home > LUXURY/UHNW Trends > Yacht Market Report: the Only Way is Up
Posted by David Breviglieri , 11 Oct 2021
Looking at the yacht market report for 2022 and beyond, the industry’s future will be home to an entirely different landscape. The global pandemic has resulted in a shift in attitudes, a host of new travel trends and a spotlight on sustainability like never before. When it comes to yachting, the industry is listening.
Yacht Market Report : the Only Way is Up
The yacht market weathered the uncertainty of the past two years and has come out stronger than ever before. This year has broken all records for yacht sales, with 545 yachts sold in the first three quarters of 2022, according to global superyacht brokerage Fraser. That’s compared to 277 yachts sold for the same period last year and is double the average number of yacht sales at this time of year since 2009.
Interest in yacht charters has also risen from first-time charterers, and we can expect to see the results of the exponential growth in green engineering and technology in the next few years.
Technological innovation is also set to enhance the luxury experience on board, with onboard technology becoming smarter, more sophisticated, and increasingly more implementable.
When it comes to the superyacht experience, various trends all centre around people wanting to travel more, spend quality time with the people they love and explore remote destinations with health and safety at the front of their minds.
It wasn’t just global lockdowns that have stimulated these yacht market trends. Global wealth grew significantly in 2020 and 2021, and according to the SYT iQ 2021 Market Report, new yacht sales also saw substantial growth worldwide. According to Wealth-X, a total of 670 additional billionaires were created in 2020 – a rise of 13%. The worldwide list of High Net Worth Individuals (defined as individuals with more than $5 million net assets) now has over 3 million members.
Here Relevance dives deeper into the biggest yacht market trends expected to emerge in 2022 and beyond.
Yacht Charter: 2022 Trends
When it came to the charter market, top superyacht brokerage houses noted a substantial increase in first-time yacht charter clients in 2020 and 2021. In fact, new charter clients made up around 40% of the luxury charter market this year.
Speaking at the Fraser conference at the Monaco Yacht Show 2021, Mark Duncan, Fraser Director of Marketing & Business Development, hopes that this demand will continue for the foreseeable future.
“Judging by the feedback, especially from those first-time charterers this year, the experience they all enjoyed together seems to have really resonated with them,” Duncan said. “Some of those charterers booked, not for one week or 10-day charters, but three weeks and, on a few occasions, more than a month – they homeschooled on board, they worked on board. They re-positioned lives to being at sea and onboard and loved it. So long may it last.”
The reasons behind these shifts over the past couple of years are clear. The yacht ownership and charter landscape changed in 2020 and 2021, largely due to the global pandemic.
With the worldwide population facing restrictions on movement unprecedented in modern times, several trends in yachting emerged – the majority of which experts agree will continue into 2022 and beyond.
When it comes to cruising behaviour, the world’s top yacht brokers and superyacht charter experts note a rise in multi-generational travel, with a surge of clients looking to spend increased quality time with loved ones.
Charter Destination Trends
In tandem with a heightened priority for family-centred and increasingly extended periods at sea, more and more yacht clients are seeking pristine natural environments to spend their time, with a rise in interest in off-the-beaten-track destinations away from the busy superyacht hotspots.
Again, the reasons behind this yacht market trend are obvious. As the weeks and then the months went by bunkered down in the same location, the advantages of a superyacht became crystal clear. A superyacht offers an isolated environment, a safe place to spend extended periods with family and friends while also allowing a sense of total freedom.
Of course, a luxury yacht has long been the epitome of freedom, but with people stuck to one location like never before, it became more of a serious option for many in the game for a superyacht experience. With the COVID-19 pandemic still very much a global issue, it is a safe bet that the superyacht charter market will continue to grow and attract new clients.
Sustainability: The Future is Green
Sustainability has been a hot topic for the past few years, though it’s clear that the need for sustainable solutions in superyachting is growing.
Environmental awareness spans every level of the superyacht experience, from owner and charter client to shipyard and broker. In response to this growing necessity, the yachting industry is responding.
Some of the most sustainable yachts in the past 10 years include Feadship’s 83-metre M/Y SAVANNAH. Delivered in 2015, M/Y SAVANNAH boasted 30% lower fuel consumption than her competitors and featured Feadship’s innovative Breathe propulsion system. Delivered in the same year was the 76.6-metre M/Y Yersin built by French shipyard Piriou. YERSIN is one of the world’s cleanest vessels, with her long list of sustainable features including emission-reducing filters on her engines to eradicate 99.8% of NOx and SOx emissions. Three years later, the 106-metre sailing yacht BLACK PEARL became the world’s first ‘zero impact’ yacht upon delivery from Oceanco in 2018, while in 2020, Nobiskrug’s 80-metre M/Y ARTEFACT features solar panels, diesel-electric propulsion system with lithium batteries, which reduces emissions by up to 30%.
And sustainable solutions are only becoming more prevalent in the future. Looking to the yacht market in 2022 and beyond, Dutch shipyard Oceanco recently commented that of the five 100+ metre superyachts currently under construction, all include trailblazing sustainable solutions, from alternative propulsion solutions and fuel sources to increased electrification and battery usage for reduced carbon emissions.
Fellow Dutch superyacht shipyard Feadship has noted similar sentiments, while Amels revealed that their latest superyacht under construction – the 120-metre Project Signature designed by Espen Oeino – will be one of the greenest and most ecological vessels out there upon delivery in 2025.
Sustainable Technology Across the Board
But sustainable futures are not just reserved for the large yacht builders. When it comes to the implementation of even newer sustainable superyacht technology, smaller brands like Hynova in France are also paving the way.
With the first models set to hit the water in the near future, Hynova aims to launch the very first brand of boats featuring electro-hydrogen propulsion. Sunreef Yachts, the renowned luxury catamaran builder, unveiled the 100 Eco Catamaran in summer 2021, while the Italian yacht builder Fabiani Yachts revealed their new hybrid yacht range at the Cannes Yachting Festival 2021.
The new Fabiana Yachts Hybrid models range from 21 to 30-metres and feature solar panels intelligently integrated into the structure of the boat – the latter a feature seen in more yacht designs and future concepts. From 80+ metre superyachts to 21-metre day boats and everything in between, it’s clear that when it comes to the future of the industry, the yacht market is on the path to going green.
Yacht Market: Luxury Technology
It’s not only engineering and propulsion that is facing significant innovation on board the superyachts of the future. Onboard technology is also being paid more attention than ever before – from an increase in demand for yacht toys and tenders that offer unique experiences, such as personal submarines and hydrofoil tenders, to smart technology products that enhance the everyday experience of life on board. One brand to look out for is YachtCloud, creators of luxury technology catered to the seven-star environments of superyachts. GEST, their service call device, is a fantastic example of the progression of technology, and how that technology enhances the experience onboard. Custom programmed to fit each client’s specific needs and wishes, GEST service call devices also feature a bespoke premium design, meaning that they fit seamlessly into the prestigious environments they are surrounded by.
Relevance Yacht is a dedicated yacht marketing agency that works with international yachting clients across the full digital marketing ecosystem. Our team of yacht marketing specialists help clients reach their target audiences via data-led, hyper-targeted campaigns that drive positive action. For more information on how we can upgrade your marketing strategy, get in touch with our yachting experts today.
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Global Yacht Market: Analysis By Propulsion, By Category, By Type, By Length, By Region Size And Trends With Impact Of COVID-19 And Forecast up to 2026
- Region: Global
- Daedal Research
- ID: 5607024
- Description
Table of Contents
Executive summary, companies mentioned, methodology, related topics, related reports.
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Market Segmentation Analysis:
- By Propulsion: The report provides the bifurcation of the yacht market into three segments based on propulsion: Outboard & Inflatables, Inboard, and Sailing. In 2021, the outboard & inflatables segment accounted for the maximum share of approximately 45% in the global yacht market owing to benefits such as high speed, power, and large distance coverage, among others. The Inboard segment is further segmented into three categories: Composite, Made-to-measure, and Super. The global made-to-measure inboard yacht market is expected to experience significant growth during the forecasted period with a CAGR of 13.6% driven by the increasing awareness and acceptance of yachting culture in the Asia Pacific and a series of favorable policies supporting the yacht industry promulgated in major countries.
- By Type: The report provides the segmentation on the basis of type: Super Yacht, Sport Yacht, Flybridge Yacht, Long Range Yacht, and Others. The super yacht segment is holding the major share of 32% in the market in 2021. The growth of the market is driven by the increase in the number of potential end customers i.e., VHNWIs and UHNWIs.
- By Length: The report further provided the segmentation based on the length of the yacht: Below 20 meters, 20-50 meters, and Above 50 meters. The global above 50-meter yacht segment would grow at the highest CAGR of 7.23% during the year 2022-2026, owing to the increasing leisure trips and voyages taken by generation Z along with the growing preference to live a luxury life.
- By Region: In the report, the global yacht market is divided into five regions: Europe, North America, Asia Pacific, Latin America, and Middle East & Africa. Europe dominated the market in 2021 with almost 36.4% share of the global market. Europe is one of the main destinations for marine culture, especially Northern Europe, which has a very rich ecosystem for yacht charter. Countries like Italy, Ireland, Scotland, Denmark, Sweden, Germany and Russia offer a variety of options to choose from including crewed yachts, luxury yachts and motor yachts.
- Unlike the Luxury Goods coverage, where Asia Pacific represents around 50% of sales, the yacht market is still in its initial stages in Asia Pacific, which represents approx. 20% of sales. The Asia Pacific would provide lucurative opportunities to the overall market during the forecast period, due to the rising popularity of recreational activities and increased marine tourism in nations such as Thailand, Malaysia, Singapore, China, Japan, and Australia.
Global Yacht Market Dynamics:
- Growth Drivers: One of the most important factors impacting the yacht market is the increase in the UHNWI population. As the HNWI increases, the addressable customer base of the yacht industry also increases. This provides a strong tailwind for the manufacturers of yachts. In addition to a growing customer base of UHNWIs, the size of their wealth is also expected to grow in the coming years. This would translate into an increasing average size of yachts or customers shifting towards models with a higher degree of customization and premium features. In both cases, this should support growth in the average selling price of yachts. Therefore, the market would experience tremendous growth. Furthermore, the market has been growing over the past few years, due to factors such as growing demand for luxury tourism, rising construction of super yachts, growing number of boat shows, favorable government initiatives, and increasing demand for yacht charter, etc.
- Challenges: However, the market has been confronted with some challenges specifically, high investments and upkeep costs associated with yachts, cyclicality of the yachting industry, etc.
- Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as customization and personalization, acute focus on eco-friendly and sustainable products, the internet of things, yachts run quieter due to tech advances, explorer yachts are continuing to rise in popularity, etc. Explorer yachts are a popular demand for yacht enthusiasts. Whether a client is keen to purchase or charter, explorer yachts are among the most demanded vessels, due to their peculiarity, great cruising performance, an immense ability to travel in remote locations. Changing demographics among HNW and UHNW individuals have ushered in a new and exciting demand for explorer yachts and adventure travel excursions. This trend is expected to further propel the growth of the yacht industry in the coming years.
Impact Analysis of COVID-19 and Way Forward:
competitive landscape: .
- HanseYachts AG
- LVMH Moët Hennessy Louis Vuitton (Princess Yachts Ltd.)
- Lurssen Yachts
- Sanlorenzo S.p.a
- Ferretti Group
- Azimut Yachts
- Sunseeker International Ltd.
- Westport LLC
- Alexander Marine Co., Ltd. & Subsidiaries
- Feadship Yachts
- Bilgin Yachts
- The Italian Sea Group
Scope of the Report:
- An in-depth analysis of the global yacht market by value, by propulsion, by category, by type, by length, by export, by operational fleet, by region, etc.
- The regional analysis of the yacht market, including the following regions: Europe (Italy, Netherlands, Germany, UK, France, and Rest of Europe), North America (The US and Canada), Asia Pacific (China, Japan, and the Rest of the Asia Pacific)
- Latin America, Middle East & Africa
- Comprehensive information about emerging markets. This report analyses the market for various segments across geographies.
- Provides an analysis of the COVID-19 impact on the global yacht market.
- Assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall yacht market has also been forecasted for the period 2022-2026, taking into consideration the previous growth patterns, the growth drivers, and the current and future trends.
- Evaluation of the potential role of yacht services to improve the market status.
- Identification of new technological developments, R&D activities, and product launches occuring in the yacht market.
- In-depth profiling of the key players, including the assessment of the business overview, market strategies, regional and business segments of the leading players in the market.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
- The in-depth analysis provides an insight into the market, underlining the growth rate and opportunities offered in the business
- Alexander Marine Co., Ltd. & Subsidiaries
- Azimut Yachts
- Bilgin Yachts
- Feadship Yachts
- Ferretti Group
- HanseYachts AG
- Lurssen Yachts
- LVMH Moët Hennessy Louis Vuitton (Princess Yachts Ltd.)
- Sanlorenzo S.p.a
- Sunseeker International Ltd.
- The Italian Sea Group
- Westport LLC
Global Yacht Market (by Propulsion, Category, Type, Length, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2026)
- Report
- September 2023
Yacht Industry - Global Strategic Business Report
Yacht Global Market Report 2024
- February 2024
Yacht Global Market Opportunities and Strategies to 2032
- August 2023
Global Yacht Market - Outlook & Forecast 2024-2029
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Yacht Market
Yacht Market Size, Growth Opportunities, Outlook, Statistics, Market Scope, Revenue, Research, Trends Analysis & Global Industry Forecast Report 2023-2030
Yacht Market was valued at USD 9,407 million in 2022 and is anticipated to touch USD 14,111 Million in 2030 and is expected to register a CAGR of 5.2% during the forecast period.
Yacht Market Overview
Yacht refers to a large and fast sailing or power-driven vessel used for pleasure cruising, racing, water sports, fishing, and for recreational activities. There are various types of yachts that includes super yacht, flybridge yacht, sport yacht, long range yacht, gullet yacht, luxury yacht, and others.
Major Yacht Market Drivers
Increasing inclination of travellers towards customized and exclusive tourism services is one of the major factors fueling the global yacht market growth. In addition, the rising disposable income, rapid urbanization, and expansion of recreational tourism sector are forecast to augment the market growth over the upcoming years. As per the yacht market analysis, the increasing demand for yacht charters aided by the increase in marine tourism will influence the market revenue. As per the World Travel and Tourism Council (WTTC) report, the travel & tourism sector witnessed a 3.5% growth in 2019, which is 10.3% of the global GDP and provided approximately 330 million jobs globally, this is expected to drive the demand for yachts in the coming years. Manufacturers are focusing on incorporating luxurious features to improve the performance and offer a seamless travel experience with high standards & comfort. For instance, in 2021, Ritz Carlton introduced itineraries to assist guests to stay aboard for more than one voyage. The easy booking option on a weekly or monthly basis will create market growth opportunities. The use of alternative fuel in the marine industry and increasing expenditure by consumers will augment the market share. On the other hand, the operational and maintenance cost of yachts is very high, which might impede the yacht market size.
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Type – Segment Analysis
Based on the type, the sport yacht is expected to grow significantly over the forecast period. This can be attributed to the high demand for sports yachts in recreational activities and water sporting events and increasing active participation of adults in sport tournaments and outdoor activities.
Length – Segment Analysis
Based on the length, the upto 20 meter segment is projected to account for a notable share in the market owing to its several advantages including low maintenance costs, efficient travelling, and light wind sailing capabilities, among others. Additionally, rising adoption of utilizing renewable energy including solar energy and wind energy in sea vessels is further supporting the market growth.
Propulsion – Segment Analysis
Based on the propulsion, the motor yacht segment is anticipated to grow at a high CAGR during the forecast period primarily due to its various advantageous features that includes larger size and more comfortable for living and have more amenities including stand up galleys and bathrooms; easier to operate than sailboats; more power production, and capability of running much longer distances.
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Regional – Segment Analysis:
Based on region, Asia-Pacific is anticipated to grow at high CAGR during the forecast period. This can be attributed to surge in the population and the increase in disposable income of individuals and their inclination toward leisure activities and tourism. Moreover, according to the World Travel & Tourism Council (WTTC), Asia-Pacific is the fastest growing region during 2019 in the travel & tourism sector growing by 5.5% from the previous year. This is expected to contribute to the growth of the yacht market in the region over the forecast period.
Top Market Players
Several leading Yacht companies operating in the market, include, Damen Shipyards Group, Heesen Yachts Sales B.V., Sanlorenzo S.p.A., WANDA Group, Ferretti S.p.A., Alexander Marine International Co., Ltd., Princess Yachts Limited, Viking Yacht Company, Feadship, and Azimut Benetti Group among others.
Key Developments:
- In 2020, Azimut Benetti Group launched a new yacht model under the Magellano collection, Magellano 30 METRI, designed by Ken Freivokh.
- In 2022, Damen Yachting introduced its 74m Amels 242-07 yacht, the seventh yacht to be launched from the company’s Limited Editions design from the drydock in the Netherlands.
- In 2020, Azimut Benetti Group announced the launch of a new yacht model under the Magellano collection including Magellano 30 Meter yacht as well as an upcoming Magellano 66 for 2021.
Segments covered in the Report:
The global Yacht market has been segmented on the basis of type, length, propulsion, and key regions. Based on type, the market is segmented into super yacht, flybridge yacht, sport yacht, long range yacht, and others. Based on length, the market is segmented into up to 20 m, 20 to 50 m, and above 50 m. Based on the propulsion, the market is segmented into motor yacht and sailing yacht.
For detailed scope of the “Yacht Market” report request a Sample Copy of the report
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|
|
| USD 9,407 Million | |
| 2022 | |
| 2023-2030 | |
| Revenues (USD Million) | |
| By Type, By Length, By Propulsion, By Region | |
| Asia Pacific, Europe, North America, and RoW | |
| Damen Shipyards Group, Heesen Yachts Sales B.V., Sanlorenzo S.p.A., WANDA Group, Ferretti S.p.A., Alexander Marine International Co., Ltd., Princess Yachts Limited, Viking Yacht Company, Feadship, and Azimut Benetti Group among others; a total of 10 companies covered. | |
| We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global yacht market by type.
- Super Yacht
- Flybridge Yacht
- Sport Yacht
- Long Range Yacht
Global Yacht Market by Length
Global yacht market by propulsion.
- Motor Yacht
- Sailing Yacht
Global Yacht Market by Region
North america yacht market (option 1: as a part of the free 25% customization).
- By Propulsion
- US Market All-Up
- Canada Market All-Up
Europe Yacht Market (Option 2: As a part of the free 25% customization)
- UK Market All-Up
- Germany Market All-Up
- France Market All-Up
- Spain Market All-Up
- Rest of Europe Market All-Up
Asia-Pacific Yacht Market (Option 3: As a part of the free 25% customization)
- China Market All-Up
- India Market All-Up
- Japan Market All-Up
- Rest of APAC Market All-Up
RoW Yacht Market (Option 4: As a part of the free 25% customization)
- Brazil Market All-Up
- South Africa Market All-Up
- Saudi Arabia Market All-Up
- UAE Market All-Up
- Rest of world (remaining countries of the LAMEA region) Market All-Up
Major Players Operating in the Yacht Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
- Damen Shipyards Group
- Heesen Yachts Sales B.V.
- Sanlorenzo S.p.A.
- WANDA Group
- Ferretti S.p.A.
- Alexander Marine International Co., Ltd.
- Princess Yachts Limited
- Viking Yacht Company
- Azimut Benetti Group
Frequently Asked Question About This Report
Yacht market [up2216-001001], what are major factors driving the yacht market.
The rapid urbanization along with the rising disposable income, growth in the recreational tourism sector, rising preference towards luxury tourism, exclusive traveling, and recreational activities by consumers are the major factors driving the growth of the market.
Which length segment accounted for notable share in Yacht Market?
The upto 20-meter segment is projected to account for a notable share in the market owing to its several advantages including low maintenance costs, efficient travelling, and light wind sailing capabilities, among others.
What is the growth rate of Yacht Market during forecast period?
The growth rate of Yacht Market during forecast period is 5.2%.
Which region anticipated to grow at high CAGR during the forecast period in Yacht Market?
The Asia-Pacific is anticipated to grow at high CAGR during the forecast period. This can be attributed to surge in the population and the increase in disposable income of individuals and their inclination toward leisure activities and tourism
- Published Date: Nov - 2023
- Report Format: Excel/PPT
- Report Code: UP2216-001001
Licensing Options Single-User License: The report is used by the purchaser (One Individual) only Multi-User License: Report is shared with maximum 5 users (employees) including the purchaser of the purchasing corporation only Corporate License: Report is shared with unlimited user (employees) of the purchasing corporation only
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Yacht global market report 2022.
Major players in the yacht market are Azimut Benetti, Brunswick Corporation, Christensen Shipyards Ltd, Alexander Marine International, Damen Shipyards Group, Feadship, Ferretti, Viking Yacht Company, Princess Yachts Limited, Sunseeker International, Sanlorenzo SpA, Heesen Yachts, Fincantieri SpA, Horizon Yacht, Palumbo Group, and Bavaria Yachtbau GmbH.
New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Yacht Global Market Report 2022" - https://www.reportlinker.com/p06317005/?utm_source=GNW The global yacht market is expected to grow from $7.70 billion in 2021 to $8.22 billion in 2022 at a compound annual growth rate (CAGR) of 6.75%. The yacht market is expected to reach $9.97 billion in 2026 at a CAGR of 4.95%. The yacht market consists of sales of yachts by entities (organizations, sole traders, and partnerships) that refer to the large recreational boats with lengths ranging from 35 feet to 160 feet and capable of operating in ocean waters and turbulent seas. It requires a full crew in handling maintenance, navigation, electronics and engineering, repairs and stewards. The main types of motor and sailing yachts include super yacht, flybridge yacht, sport yacht, long range yacht, and others.The super yacht refers to large, luxurious, professionally crewed motor or sailing yachts with a load line of 24 meters and above. They are varied based on lengths into up to 20 meters, between 20-50 meters, and above 50 meters. Europe was the largest region in the yacht market in 2021.North America is expected to be the fastest-growing region in the forecast period. The regions covered in the yacht market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The yacht market research report is one of a series of new reports that provides yacht market statistics, including yacht industry global market size, regional shares, competitors with a yacht market share, detailed yacht market segments, market trends and opportunities, and any further data you may need to thrive in the yacht industry. This yacht market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. Growing demand for luxury tourism and sailing is expected to propel the demand for the yacht market.Luxury tourism focuses on offering a high level of comfort and quality, with no stress or hassle. It entails an elevated travel experience with minimal annoyance and maximum convenience.The rapid growth in luxury tourism is expected to boost demand for yachts, as they are a key component of luxury tourism for destinations located on the sea coast. For instance, in 2019, Turkey, a luxury tourism country observed a 20% growth in demand for boats and yachts rented by tourists (yacht tourism), especially foreign tourists compared to the previous year. Therefore, the growing demand for luxury tourism and sailing is expected to boost the demand for yacht during the forecast period. Technological advancement is a key trend gaining popularity in the yacht market.Major yacht companies are focusing on bringing technological advancements to yachts such as electrical power, and hydrogen power with robust engines which have higher horsepower and lighter body weight. These yachts are focused on providing faster commute and comfortable travel.For instance, in November 2020, a New-Zeeland-based premium powerboat building company Herley Boats introduced the new Herley 3400 hybrid catamaran. It is a luxury motor yacht equipped with a hybrid system (two electric drives powering the yacht) with lithium-ion batteries to ensure emission-free and silent propulsion. It is a 100% electric yacht offering an economy cruise with improved fuel efficiency and performance mode for high-speed operation. In May 2021, MarineMax Inc, a US-based recreational boat dealer company acquired Cruisers Yachts for an undisclosed amount.Through this acquisition, MarineMax intends to ensure that a premium, American-built yacht is available in its product portfolio and provide the selling services via a selected retail network while enhancing the additional growth capacity. Cruisers Yachts is a US-based premium yachts manufacturing company that builds boats ranging from 33 feet to 60 feet. The countries covered in the yacht market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. Read the full report: https://www.reportlinker.com/p06317005/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________
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Yacht Market: Global Industry Analysis and Forecast (2024-2030)
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Yacht Market Overview
Yacht Market Dynamics
Yacht market regional insights, yacht market segment analysis, yacht market competitive landscape.
Yacht Market Scope: Inquire before buying
| Yacht Market | |||
|---|---|---|---|
| Details | |||
| 2023 | 2024-2030 | ||
| 2018 to 2023 | US$ 11.92 Bn. | ||
| 6.58% | US$ 18.63 Bn. | ||
| by Type | Super Yacht Flybridge Yacht Sport Yacht Long Range Yacht | ||
| by Propulsion | Sailing Yacht Motor Yacht | ||
| by Yacht Length | Up to 20 Meters 20-50 Meters Above 50 Meters | ||
Yacht Market by Region
Yacht key players are:, about this report.
| Report ID | 124963 |
| Category | Automotive and Transportation |
| Published Date | January 2024 |
| Updated Date | |
| Over all Rating | |
| "Rating is based on reviews" | |
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Privé Market Expands Offerings with Super Yacht Sales and Charter Services
I n an ambitious expansion of its luxury market portfolio, Privé Market has announced the introduction of super yacht sales and charter services. This new feature aligns with the company’s commitment to providing unparalleled luxury experiences and exceptional service to its discerning clientele.
Elevating Luxury with Super Yachts
Privé Market, already renowned for its curated collection of high-end goods and services, has entered the exclusive world of super yachts. This move is set to attract a new segment of ultra-wealthy individuals seeking both to purchase and to charter these luxurious vessels. The addition of super yachts to Privé Market’s offerings underscores the company’s dedication to remaining at the forefront of the luxury market.
The super yacht sales and charter services provide clients with access to some of the world’s most opulent and well-appointed yachts. These vessels, which can stretch over 100 meters in length, are equipped with state-of-the-art technology, luxurious amenities, and bespoke interiors crafted by renowned designers. Whether for leisure or business, Privé Market’s new service aims to deliver an extraordinary experience on the high seas.
Anonymous Cryptocurrency Payments
In keeping with its innovative approach to luxury services, Privé Market has also integrated anonymous cryptocurrency payments for its super yacht transactions. This feature caters to the increasing demand for privacy and security in high-value purchases. By allowing payments through cryptocurrencies such as Bitcoin and Ethereum, Privé Market ensures a seamless, discreet, and secure transaction process.
The option for anonymous cryptocurrency payments reflects a broader trend in the luxury market where clients prioritize confidentiality and efficiency. This addition not only broadens the accessibility of Privé Market’s offerings but also positions the company as a leader in integrating modern financial solutions within the luxury sector.
Commitment to Excellence
Privé Market’s introduction of super yacht sales and charter services is backed by its reputation for exceptional customer service. The company’s team of experts provides comprehensive support throughout the buying or chartering process, from selecting the right yacht to finalizing the purchase or charter agreement. Clients can expect personalized assistance tailored to meet their unique needs and preferences.
Furthermore, Privé Market’s robust network within the maritime industry ensures that clients have access to the latest models and the most exclusive yachts available on the market. This strategic expansion is a testament to the company’s ability to anticipate and meet the evolving desires of its elite clientele.
Future Prospects
As Privé Market continues to expand its offerings, the addition of super yacht sales and charter services marks a significant milestone in its growth. By integrating anonymous cryptocurrency payments, the company is not only enhancing the customer experience but also setting new standards in the luxury market.
With this innovative approach, Privé Market is well-positioned to attract a new wave of customers who value privacy, exclusivity, and luxury. The company’s latest venture into the world of super yachts is poised to redefine luxury maritime experiences, solidifying its status as a leader in the luxury marketplace.
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The Cobham Satcom Sea Tel 370s TV antenna. Photo: Cobham
Cobham Satcom is launching a new antenna for the maritime market, specifically designed for cruise ships and mega yachts. The Sea Tel 370s TV is Cobham Satcom’s second new TVRO launch in as many months. The 3.7 meter Sea Tel 370s TV aims to expand onboard access to the highest quality programming anywhere in the world, while significantly reducing lifetime technical costs. Cobham Satcom announced the launch of the antenna, July 17.
The Sea Tel 370s TV leverages the newest generation Sea Tel Integrated Marine Electronics (IMA) platform, a flexible and powerful marine VSAT antenna system. New technology helps unlock several advantages for cruise and yacht charter companies by automating the manual processes that have until now been needed to make some of the most popular television channels available globally at sea.
Cobham Satcom’s new flagship TVRO antenna features automatic C-band switching between circular and linear polarization, ensuring uninterrupted viewing and continuous availability of live television such as ESPN, which is one of the most popular channels on cruise ships.
Recently, Cobham Satcom also released its all-new SAILOR XTR TVRO antennas in May this year. Consisting of 1 meter and 1.2 meter antenna systems, the focus is on a smaller onboard footprint, while offering global programming and interference free reception for improved viewing on a wide range of vessel types.
“While the ability to deliver high quality television on board is a key factor in guest satisfaction scores in the cruise sector, removing the need for regular engineer visits to manually modify an antenna for ships traversing between incompatible satellite regions, can deliver at least six figure savings over the lifetime of a vessel,” Henrik Fyhn, VP & Product Line Director, Maritime, Cobham Satcom said in a statement.
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Presidential yacht used by John F. Kennedy now available for charter
The legendary presidential yacht Honey Fitz has joined the charter market for the first time with Lessing's Hospitality Group.
Delivered in 1931, the 28.3-metre has been used by five US presidents: Harry S. Truman, Dwight D. Eisenhower, Lyndon B. Johnson, Richard M. Nixon and John F. Kennedy.
Honey Fitz was built by Defoe Boat & Motor Works in 1931 and originally owned by Montgomery Ward tycoon, Sewell Avery, who named her Lenore .
In time, the yacht took on the unofficial role of "presidential yacht". Honey Fitz was of special importance to Kennedy, however, who renamed her after his maternal grandfather John Francis Fitzgerald and cruised frequently with his family. First Lady Jacqueline Kennedy also redesigned the yacht's interiors in the early 1960s, which proved to be a passion of hers – she would later help curate the interiors of the 99.1-metre Christina O , owned by her second husband Aristotle Onassis.
In 2020, Honey Fitz underwent an extensive, historically sensitive restoration that saved her from "complete deterioration". Overseen by Charles R. Modica, the refit lasted three years with the yacht making her official reintroduction at the 2023 Palm Beach International Boat Show .
Honey Fitz can accommodate up to 35 passengers and features a main saloon, formal dining, a sundeck, a fully outfitted galley and a private owner's suite. Several functioning parts of the vessel date back to 1931, World War II and the presidential eras from 1945 to 1971, though the refit focused on the period during the Kennedy Administration.
Honey Fitz will be based at the Pelican Club in Florida and available for private charters alongside dockside events, including weddings and parties.
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