Industry Analysis & Industry Trends
Making waves
While demand for luxury boats plummeted in response to heightened unemployment, declines in disposable income and reduced consumer sentiment, the industry is set to revive in the coming years. Over the next five years, the industry will benefit from increased interest in nautical technology and renewed demand from wealthy households. Also, overseas demand will pick up, as consumers in emerging countries become wealthier.... purchase to read more
Industry Report - Industry Analysis Chapter
After four consecutive years of losses, the Luxury and Mega Yacht Manufacturing industry turned around in 2011. During the economic downturn, operators were forced to make significant alterations across their business models to weather the downturn. Yacht builders worked hard to adjust manufacturing capacities and reduce operating costs to reflect the deterioration in demand for luxury yachts during the recession. These adjustments helped boost the industry's performance over 2011, and it is expected to continue growing over 2012. Furthermore, a quick recovery in the incomes of the country's wealthiest households, returning consumer confidence and extremely low interest rates has also spurred growth. Industry revenue is expected to continue recovering over 2012 and grow 7.1% to $939.8 mi... purchase to read more