YACHT MARKET

KEY FINDINGS

1. Azimuth-Benetti as a group continues to be the world’s most active superyacht builder, with more than 3.5 kilometres of superyachts under construction.
2. The mid-sized market – between 150ft (45.7m) and 250ft (76.2m) – continues to show stability, with an average of 140 projects annually.
3. The numbers of 24-metre-plus sailing yachts ordered or under construction increased by 15.7 percent over last year.
4. The number of active shipyards continues to climb as there was a big jump in the number of shipyards building superyachts last year, from 151 the year before to 170.
5. Italy holds the highest Gross Tonnage (GT) of yacht construction in the world annually.
6. Taiwanese shipyards have had a strong year, with growing numbers of boats in build and a steady stream of new models at Ocean Alexander and Horizon, in fourth and seventh places respectively. Its production has grown 5.8 per cent year-on-year.
7. Only about 1.3% of marine propulsion systems are electric, Over next decade hybrid propulsion systems will be preferred as optimum for yachts. This reduces the CO2 footprint by around 90%.
8. The global outbreak of the Coronavirus (COVID-19) disease has had a profound effect on the travel industry and yacht industry, in particular the yacht charter market which has been brought to a halt by the spread of COVID-19.

INTRODUCTION

The International Maritime Organization has asked the marine industry to reduce greenhouse gas emissions by 50% by 2050 from pre-2008 levels. As a result, yacht builders and suppliers are working together to develop eco-friendly products with lower carbon footprint.

With lightweight recyclable interiors, environment friendly epoxies or electro hybrid propulsion, the global trend is towards a sustainable mode of maritime transportation even in pleasure boating.

YACHT MARKET DYNAMICS

Onboard security systems and marinized daylight and thermal-imaging cameras were operated independently for some time. With these systems, owners integrate cameras and onboard alarms, as well as control and manage them via a multifunction display, app or dedicated Iris screen. If the yacht is connected to the internet, users can keep an eye out from afar. Also, model dependent, users can record their camera’s video stream locally.

Cellular-enabled security systems can alert today’s yachtsmen to intruders, and onboard cameras can simplify docking from a helm with obscured sightlines.

Collision-avoidance systems have been developed for mariners as it employs daylight and thermal-imaging cameras, artificial intelligence, deep learning and machine vision to make yachtsmen aware of navigational hazards and to provide enough time for making course corrections. Some systems autonomously control the boat’s autopilot to change course.

Few technologies have played a greater role in preventing at-sea collisions during the past 18 years, which broadcast a vessel’s navigation data—including digital selective calling information and real-time GPS—over VHF radio frequencies.

Manufacturers revolutionized radar in the mid-2010s when they began replacing magnetrons with solid-state gallium-nitride transistors. Unlike cavity magnetrons, whose frequencies vary over time and with temperature swings, gallium-nitride power amplifiers transmit highly predictable frequencies, simplifying data processing and improving image resolution.

Orders of higher-speed open yachts (also sometimes known as sportscruiser) are on the upswing. With fuel costs not rising as high or fast as once predicted, buyers are moving into open boats in greater numbers.

Smarter hull construction, better engine efficiency and new propulsion systems are also working to keep this bracket of boat attractive to buyers.

Innovations in boatbuilding like carbon-fiber and modern composites, to make boats lighter and more robust, not to mention highly efficient hull designs now play a significant role in development of new yachts.

UV panels and robotics are replacing biocide-free antifouling tactics in the industry. An economical and environmentally friendly boating future is once again in the spotlight thanks to new antifouling solutions.

Marine coatings have a very vital role to do, especially those utilized below the waterline. Effective antifouling procedures are essential since there are around 4,000 possible fouling organisms in the world's waters, including algae, anemones, barnacles, and mussels.

In addition to preserving hull efficiency and lowering expenses, antifouling can assist stop the invasiveness of non-native species in other areas.The environmental impact in terms of emissions is particularly crucial because a badly clogged hull can increase drag by about 40%.

If a badly fouled container ship's speed is reduced by 10%, its annual CO2 emissions might rise by up to 16,000 tones, and if its speed is maintained, they could rise by up to 64,000 tones.Sustainable boating is essential from a financial and ecological point of view thanks to innovative coating and antifoul technologies.

Even while historically there wasn't any legislation governing hazardous material in antifoul, that situation has changed. Both commercial shipping and recreational boating are looking for biocide-free solutions that are both effective and friendly because public attitudes, political purpose, and international law are now mostly aligned in their commitment to cleaner seas.

YACHT MARKET SEGMENTATION

By Yacht Type

• Cruiser Motor yacht
• Sailing yacht (Including catamaran)
• Fishing yacht
• Mega yacht

By Yacht Length

• 30ft-50ft
• 50ft-80ft
• Superyacht (More than 24M/80ft in length)

By Region

• US
• Canada
• Europe
• Australia
• ROW

YATCH MARKET DEVELOPMENTS

There is a growing demand for day boating experiences. Millennials prefer to go out with friends/family for a shorter duration, 3-4 hours on a weekend and not sleep on the boat. Millennials are also environmentally conscious and prefer products with lower carbon footprint therefore there could be a bigger market for electric yachts in coming years.

The Sunreef 80 Eco will run on its two, energy-efficient 180kW electric engines or the wind. While under sail, the vessel employs an advanced hydro generation system to actually recover energy from the propeller rotation. The most innovative feature is the vessel’s solar skin.

This photovoltaic system will see the world’s lightest solar cells integrated into the hull sides, superstructure, bimini and carbon mast. Covering a total surface of approximately 1,600 square feet, the skin will generate up to 34 kWp of clean energy that will be stored in custom-engineered lithium batteries.

The Voltaire Sky is powered by a Torpedo system( an electric marine motor company) – twin Deep Blue 50kW motors with BMW 42kWh Li-ion batteries. It has a range of 100 nm) or 180km – which is good enough for an intraday or a 4-5 hours quick trip.

Sole Yachts based in the Netherlands has been designing and building solar powered yachts since 2011. The Select 12, at a cruising speed of 7 knots has a range of 11 hours on battery alone and 16 hours with draw from the solar panel. The boat’s solar array can also feed into an AC grid on shore while anchored or to provide power at remote places where no grid is available.

YATCH MARKET SIZE AND FORECAST

The global yacht market size is estimated at $XX Billion in 2023 growing at XX% CAGR till 2030.

YATCH MARKET NEW PRODUCT DEVELOPMENT 

June 2021 -Larsson launched project Enzo, a 378ft/115m superyacht, The yacht is equipped with state-of-the art technology and engineering systems. A heat recovery system in the generators heats the water for the pool, leading to reduced electrical power and emissions.

May 2021 - Feadship launched the 312-foot/95-meter Bliss—a family yacht with the very latest hybrid propulsion and Polar Code certification. The yacht has advanced security and life-safety systems have been discretely incorporated and De Vogt Naval Architects has been heavily involved in the design and engineering of the hybrid propulsion system to enable the yacht to sail in diesel-electric mode.

May 2021 -  Larsen's newly launched 182ft/55m project 13800. Larsen is known for building some of the largest yachts in the world but is also actively targeting projects in the 182-foot-246-foot (55 to 75 meter) range. Project 13800 is a first step in reestablishing the brand as a serious proposition for yachts in that size bracket as well.

April 2021 - The new San Lorenzo 62Steel Cloud 9 has an overall length of 201ft/ 61.50m, a maximum beam of 39ft/11.90m, a gross tonnage of 1433 tons and five decks.

April 2021 - Vripack Yacht Design and Royal Huisman have unveiled the renderings of their 171ft/ 52m ground breaking sport fishing yacht, Project 406, which has been under contract since the end of last year. Project 406’s 171ft/50m is a serious step up, involving significant design and engineering challenges.

April 2021- Istanbul-based shipyard Biglin Yachts’ flagship 263ft/80m Tatiana is the first of the three yachts in their Biglin 263 series. The second hull –will be launched later this year, with the third hull of the model delivered in 2022.

March 2021 - The Aegir 2.0, a wind-powered trimaran designed by Tod's, is an upgraded version of the Aegir, which was launched in 2019. The luxurious sailing yacht with green technology is one of the ‘cleanest’ superyachts to date.

Feb 2021 - PEBBLE— A new 140-meter yacht concept by Netherlands -based Van Geist Design takes its inspiration from the pebbles.

Jan 2021 - Rossinian recently launched its flagship, the 230-foot (70-meter) Polaris, a superyacht capable of navigating in the extreme ice conditions of polar regions.

YATCH MARKET RECENT DEVELOPMENTS

YACHT MARKET NEW PRODUCT LAUNCH

Sunseeker International has announced the launch of five amazing new models.

1. Priority 55 EVO

The Predator 55 EVOTM was designed to speed up the heart. Its superstructure and interior both emphasise its evolutionary design. The Predator 55 EVOTM is a sleek, athletic boat that floats above the water and is framed by carbon fibre and stainless steel details.

The Predator range of interior textiles and textures throughout maintain the dynamic vibe within. 

    2. 55 Manhattan

The Manhattan 55 has been built to give extraordinary levels of comfort and elegance throughout, with a wide variety of social spaces for entertaining, building on the hugely popular Manhattan range.

The novel powered glass cockpit/galley window of this new type, which can be electronically lowered to bring the outside in, is one of its primary features. 

   3.  Sport Yacht 65

With its sculptured exterior design, cutting-edge helm concept, and chic interior appointments, the all-new 65 Sport Yacht maintains the sporty and sleek aesthetic while showcasing the innovative design philosophy of Sunseeker's next generation of models.

This yacht is fundamentally different from others in the 60ft segment.

  4. 88 Yacht

The new 88 Boat epitomizes luxury as it blends a superyacht feel with all the functional benefits of a yacht in this size range. When ordered, she has a sleek hardtop roof with a central opening canopy made of either canvas or tilting aluminium vanes. She has striking exterior lines.

   5. 90 Ocean

The 90 Ocean, which is constructed in the superyacht shipyard in Poole, moves up in size to a class that is, to put it mildly, entirely new. This new model sees a remarkable 20 percent increase in overall volume compared to her predecessor, thanks not only to her substantial beam but also to her upright bow, which brings interior volume forward.

M/Y "Calex," a custom 67-meter yacht with a steel hull and an aluminum superstructure created for a Californian owner, was launched by Benetti in Livorno. 

Cassetti Yacht Designers created the elegant exterior designing, while the Shipyard's Style Department created the modern interiors with priceless marble and fine wood.

 The owner-centric deck that houses the master cabin is there. It cannot be seen from the top decks due to a deft interplay of views and volumes that assures complete seclusion. Facing forward, it looks out into an external space with a sitting area and fireplace.

The yacht is distinguished by her wonderfully proportioned dimensions and spans five enclosed decks in addition to a sundeck. 

A testament to the shipyard's remarkable craftsmanship, the interiors were constructed utilizing the "box in box" approach and fulfil the highest construction standards. 

New technology was employed on "Calex" to reduce noise transmission and ensure silent navigation at a speed of 12 knots.

The Upper Deck, which has a surface area of 160 square meters exclusively devoted to the owner's personal areas, is the distinguishing feature of this 67-meter yacht. 

With two curved automatic sliding doors opening out onto an exclusive lounge area outfitted with chaise lounges, armchairs, a table, and an original gas fireplace, the enormous Master Cabin, which extends from midships onto the foredeck outside and offers a 180-degree view, contains a spacious suite, an elegant double bathroom, a private office, and a walk-in wardrobe. Despite being highly open, it is also incredibly private, and because of the carefully considered volumes and depths, much of it cannot be seen from the higher decks.

The owner has the most flexibility when boarding thanks to the foredeck's capability as a touch-and-go helicopter pad. On the same deck, an internal salon with a TV cabinet complements an open area in the stern with a dining table and a rest area supplied with couches and other seating.

Inside, we find the main lounge, which has a table that seats 12, sofas, and armchairs, followed by the galley. 

The guests are hosted in a roomy open-air lounge at the stern part of the Main Deck. Additionally, the owner desired two substantial VIP cabins on this deck, one on each side of the yacht, as well as two different-sized garages in the bow for the main tender and other water toys.

YATCH MARKET RECENT PARTNERSHIPS

The new Utility Platform 40, created by the architect Fulvic De Simoni for the shipyard of La Spezia, is being sold through a partnership between Camper & Nicholson's International and Antonina Navi.

The purpose of the partnership is to raise awareness of and encourage sales of the yacht ideas created by famous designer Fulvic De Simoni for Antonina Navi.

They are confident that the collaboration will be fruitful, enabling them to grow their customer base and satisfy even their most demanding customers.

They are eager to collaborate with Antonina Navi as their global central agent for the sale of the Utility Platform 40's initial hull. An important player and innovation in the luxury boat sector is the internationally renowned business Antonina Navi. They are ecstatic to be collaborating with them.

The pre-compartmented modular platform Utility Platform 40 was created by the Antonina Navi shipyard for the construction of steel superyachts.

With a staff of top industry professionals and experts, the shipyard, which is located in the Gulf of La Spezia, is able to provide a wide range of services, including superyacht berthing, refitting, after-sales services, and third-party production. Custom yachts up to 70 meters in length can also be built at Antonina Navi.

YATCH MARKET COMPETITIVE LANDSCAPE

Italy based Ferretti Group with eight brands, six shipyards, with yachts from 8m to 95m and over 170 years of history is among the biggest players in the luxury yacht market.

The largest yacht in the world, at 728 feet, is underway in Norway, the ship’s designer, VARD. The enormous, 33,500-ton "yacht liner," dubbed Somoni, will contain a collection of 39 luxury apartments.

Quantum Marine Stabilizers, one of the world’s leading marine stabilization pioneers, announced that they have launched an innovative new rack and pinion actuator, the “R Series.” This launch follows the successful deployment and service history of the Manlifts™ Rotor, which provides superb stabilization at loitering and zero speed™ operations.

Boatbuilders are progressively incorporating greener propulsion and sustainable power sources, and are turning to natural and recyclable materials. Whether they are regulated to do so or not, this is a logical step to take, especially if the buyers demand a more ethical product.

In the next decade, the market will certainly see a marked increase in the use of 3D printing in boatbuilding. Already employed for custom parts, this technology could be used to build hulls and decks – printed structures with natural fiber skins surrounding them could eliminate the need for wasteful molds.

The most effective way to minimize your carbon footprint afloat is to sail, so there is a strong argument for choosing performance yachts, which can harness the wind more efficiently. Large yachts and catamarans have an advantage too as they provide the deck space to host numerous solar panels and the speed to incorporate regenerative propulsion.

YATCH MARKET COMPANY PROFILES

1. Sunreef
2. Sunseeker
3. Pershing
4. Azimut-Benetti
5. Jeanneau
6. Benetau
7. Princess
8. Bavaria
9. Lagoon
10. Falcon
11. Riva
12. Ferreti
13. Sea Ray
14. Fountaine Pajot
15. Cranchi
16. Custom
17. Bayliner
18. Monte Carlo Yachts
19. Greenline yachts
20. Oyster