Image: Robert Stanwyck (FACTORY IMAGES)

A new industry report, released at TheYachtMarket.com Southampton Boat Show by British Marine, looks exclusively at the boat manufacturing sector within the UK’s £3.01bn leisure marine industry.

Key findings:

  • The UK’s boatbuilding sector grew in 2016, with unit production climbing by +1.5 per cent to 9,907 units
  • Revenue increased by +1.6 per cent, generating £859million in turnover in 2016, meaning that boat production accounts for over a third of the marine industry’s £3.01billion revenue
  • £724million or 84 per cent was derived from exports, an increase of +35 per cent

Growth is being led by small and medium sized boatbuilders, with the lion’s share of production absorbed by the mid-sized powerboat market (12m to 24m), sailing dinghies and RIBs, where output has recently returned to 800 units after a period of decline. The industry report also shows:

  • The UK continues to be a leader in the global dinghy sailboat market, accounting for 78 per cent of total units produced. Production numbers grew 1.2 per cent in 2016 to 7,735
  • The RIB market has grown 12.3 per cent, with 820 units produced last year
  • Mid-sized motor yacht production has increased 2.7 per cent, with 380 units produced last year

Commenting on the state of the UK’s boat manufacturing sector, British Marine CEO, Howard Pridding, said:

“Boatbuilding in the UK has changed dramatically since the last decade, with demographic and social change re-shaping manufacturers’ customer base and their access and approach to spending and boat ownership. As a result, the market for boat builders in traditional boat segments has narrowed for boatbuilders across the world.

“UK boatbuilders have adapted. Our members continue to find opportunities and commercial niches to exploit in the Eurozone, and, increasingly in established and emerging markets outside of Europe.”

Analysis within the report finds that while sailing yacht ownership has declined in popularity, participation in the sport has not, with charter holidays and shared ownership offering the flexibility of use and experience not afforded by conventional ownership. The current trend in domestic yacht manufacturing is therefore driven by changing customer behaviours in an ageing market.

 

 

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