September 19, 2016
Image courtesy of Altagamma
Superyachts have seen a value of 8.7 billion euro, or $9.7 billion at current exchange, in 2016, amounting to 295 yachts and Italy being labeled as the largest manufacturer worldwide, according to Fondazione Altagamma.
New boats are beating out superyachts in terms of global value, at 19 billion euro, or $21 billion at current exchange, through 2015, which is a 12 percent increase from 2014. Pre-own maritime vehicles are valued at $16 billion, says the study developed in part with Delloitte.
“The industry opportunity – as well as its duty – is to attract and obtain the most demanding and
wealthy customers who continue to grow annually by 7.5 percent all over the world, which is what the
luxury industry is currently doing as a whole," said Armando Branchini, Deputy Chairman of
Fondazione Altagamma.
Sailing numbers
There has been a steady increase in the number of high-net-worth individuals purchasing superyachts with a 7.5 percent jump from 2009 to 2015.
Princess Yachts
Sales of pre-owned superyachts are also at an incline since 2012, with an increase of 10.6 percent with 233 boats sold in 2015. This increase follows a slight dip in sales from 2010 to 2012, in which retail dropped from 140 boats sold down to approximately 120.
However, 2009 saw the lowest number of superyachts sold with only 100 that year. While pre-owned boats are being sold significantly more than new orders, approximately 130 new superyachts were sold last year, seeing an increase from 2009 of 8.8 percent.
The yacht industry, as whole, needs to focus on targeting new customers and gaining access to a wider range of wealthy consumers. Superyachting is a very closed industry, and the goal is to infiltrate a much broader range of markets.
Camper & Nicholsons Baraka superyacht
For example, yacht manufacturer Wally is sailing uncharted seas with an industry-first mobile application.
Wally’s owner’s association and race organize Wally Class is touted by the brand as the first dedicated app for a sail racing division. With yacht racing undergoing a popularity surge, a mobile app will help get the next generation of consumers interested (see story).
Per the report, North America is currently the leading market with boat sales with a share of 48 percent while Europe has a share of 20 percent.
Superyacht lifestyle
Yachts are a significant sector of the luxury industry, with affluent customers taking advantage of the opulent experience the boats provide. Many brands and companies are invested in growing the yachting industry.
Flagstone Property Group expanded the yachting lifestyle with the opening of The Deck at Island Gardens in Miami.
The Deck at Island Gardens was the latest addition to the still-developing superyacht marina, which aims to offer a singular hotspot to complement yachting. With Miami becoming a yachting haven, the extension to lifestyle branding and community was a natural step in developing the sector's appeal to capitalize on growth opportunity without compromising exclusivity (see more).
Also, Italian apparel and accessories house Trussardi partnered with Dynamiq Yachts to outfit the D4 series model range with exclusive interiors.
The Trussardi for Dynamiq collection included an elegant array of furnishings and accessories from the Trussardi Casa collection. The Milan-based Trussardi was selected for the interior package for Dynamiq Yachts’ Jetsetter, the first model in the D4 series (see more).
“The pleasure boat market is recovering after the past few years of crisis," said Tommaso Nastasi, yachting industry expert at Deloitte Financial Advisory Italy. "The challenge is to widen the geographical areas of end customers”.
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