The Problem We Solve
There’s been rising interest in outdoor recreation from people looking for pandemic-safe activities, and that demand is driving consumer sales in the boating industry.
Boat sales leaped to a 13-year-high in 2020. The National Marine Manufacturers Association expects this boom to continue. U.S. sales of boats, marine products and services are estimated to have reached $47 billion in 2020, up 9% from the previous year.
Yachts are the safest bubble for vacation and travel, whether chartered or owned. People have realized that you can control your environment and escape the pandemic with the yacht, while traveling in total comfort.
Global demand for 50-60ft catamarans exceeds the supply. Lead times stretch for 3 to 5 years. Some manufactures have booked orders for up to 10 years!
According to the April 2021 report from Grand View Research, the global yacht market—valued at $8.15 billion in 2020—is expected to expand at a compound annual growth rate (CAGR) of 5.2% from 2021 to 2028. Meanwhile, the global yacht charter market is projected to grow from $6.83 billion in 2020 to $10.82 billion in 2027—a CAGR of 6.6%.
A total of 242 new yachts came to market in Q1 2021, 93 less than the previous year. That is a supply shortage of 39%. Add an annual growth rate of 5% to the 242 new yachts means there will be a growing shortage of more than 12 yachts each year, compounding over the next 7 years.
Salient Yachts plans to capture this market!
Several Yacht Brokers are very excited about marketing our yachts Our competitive pricing will ensure quick market penetration and allow us to fill the backlogs.