One of the major causes fueling the expansion of the superyacht market in wealthy nations of Europe like the UK and Italy is the expanding tourist sector. For instance, the World Travel and Tourism Council estimates that the UK's travel and tourism sector contributed 6.2% of the country's overall GDP in 2017, or US$ 272.9 billion (GBP 214 billion).
Another important element driving the expansion of the superyacht market is the sharp increase in the number of new superyachts being launched by well-known boat manufacturers in European nations like France. For instance, the 82m/268ft luxury yacht KIBO was introduced to the France charter market in July 2018 by the yacht building business Abeking & Rasmussen.
The market for Superyachts is estimated to be worth USD 18.8 billion in 2021 and to grow at a CAGR of 16.10% to reach USD 53.47 billion by 2028.
Top Companies in the Superyacht Industry:
1. Azimut Benetti Group: Established in 1969. Headquarters in Italy's Viareggio. Owner of yachts and sailboats wanted to provide an alternative to communicating on waterways. Through its several business divisions, the company provides shipbuilding and repair services, sales of new and used yachts, yacht, sports boat, and sailboat charters, as well as ship management services, enabling customers to get their watercraft repaired on time and in accordance with their needs. Azimut|Benetti Group's Public Investment Fund (PIF) is a new minority shareholder, holding a 33 percent stake in the business.
2. Ferretti S.p.A.: Established in 1968. Headquarters at Italy's Forli. Yacht and powerboat manufacture is done by Ferretti SpA. The business is active in Italy. In 2023, Ferretti Group announces the purchase of a production facility in San Vitale (province of Ravenna) that is over 70,000 square metres in size and includes a dry dock. The acquisition required a roughly 40 million euro initial investment, and another 40 million will be added over the following three years to develop expanded production areas and an R&D facility. The project is a component of Ferretti Group's expansion strategy, and when it is finished, the new facility's manufacturing capacity will increase by around 20%.
3. Fincantieri S.p.A: Established in 1959. Headquarters in Italy's Trieste.Construction of cruise ships, ferries, naval ships, and other ships is done by Fincantieri SpA. Equipment, systems, and services; shipbuilding; and offshore make up its three segments. High-tech tools and systems made by the business are used on ships to offer power generation, directional control, and stabilisation. Additionally, training and product lifecycle management produce aftermarket revenue. The offshore industry produces drilling rigs and drillships that can operate in water. The fourth and final corvette of the Al Zubarah class that the Qatari Ministry of Defence had bought from Fincantieri as part of the country's naval acquisition programme was delivered today at the Muggiano (La Spezia) shipyard.
4. Gulf Craft: Established in 2003. Emirates of the United Arab Emirates headquarters. The activities of Gulf Navigation Holding PJSC include ship charter, the marine transportation of oil, petroleum products, and related goods. Among its business divisions are vessel ownership and chartering. Technical management of vessels and ship management Sales and distribution of marine items, which includes trading of things like supplies, chemicals, and gases needed for ships, Shipping and technical services involve managing all divisions and administrative tasks as well as offering agency services to ships calling at ports and workshop services for boats. Gulf Craft shows a new possibility for increased returns on investment in yacht chartering.
5. Heesen Yachts: Established in 1978. Located in Oss, Netherlands. Oss, Netherlands-based boat and yacht manufacturer. The business leverages the platform idea while designing and creating semi-custom yachts, allowing customers to quickly build their yachts to their exact specifications. Heesen Yachts declares that as of yesterday, its company is once again 100% Dutch-owned. The employment both in Oss and Winterswijk is completely safeguarded as a result of this transaction, in which the shares in Heesen have been transferred to an independent Dutch Foundation, according to a statement from Heesen.
6. Horizon Yachts: Established in 1982. Headquarters in the United States. Data-driven ocean forecasting service provider serving the offshore energy sector The business analyses oceanographic data for mapping, modelling, and event forecasting, assisting clients with situational awareness, downtime reduction, environmental protection, and safety enhancement.
7. Lürssen Group: Founded in 1997. German headquarters are at Reinbek. German distributor of printing supplies with a base in Reinbek. The business sells printing supplies, printing chemicals, printing varnishes, and printing blankets. Following a thorough refurbishment, the 97-meter Lürssen superyacht Carinthia VII will be displayed at the Monaco Yacht Show.
*Definition: A superyacht doesn't have a specific size distinction, but the term most often refers to yachts that are at least 80 feet (or 24 meters) in length. Superyachts can usually accommodate at least six passengers, but are likely to host more than 10 people, in addition to an ample crew.
