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Despite wars and sanctions, superyacht market continues recent growth.

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The Phi has been detained in Canary Wharf since March 2022.

A superyacht is a status symbol and the ultimate pleasure boat. What ordinary people envisage doing on cruise ships, the super-rich do on their mega-yachts. Space and change of scenery have appealed to humans from time immemorial. However, with luxury yacht ownership requiring vast sums of disposable income, one would think that factors putting the global economy under pressure, such as inflation, Houthi terrorists and Somali pirates attacking ships in the Red Sea, sanctions following the Russian invasion of Ukraine, and before that, the COVID-19 pandemic, would slow down the demand for superyachts. Instead, despite severe disruptions, mainly because of the post-Ukraine 2022 Russian invasion sanctions, with billions sloshing around in the global economy, demand for these vessels has reached a high point, driven by changes in the tastes of the ultra-rich, innovative new uses for superyachts, and the number of buyers able to splurge on such craft.

Expensive Mega-Toys The unique uses of a superyacht are driven by the size and crew demands that separate it from a regular yacht. A superyacht is considered to be a pleasure vessel larger than 24m (80ft) with a full-time captain and crew. This is a costly outlay. There are added costs for not including maintenance, fuel, and expensive power plant, navigation, and communications gear.

The desire for seclusion and social distancing exhibited by the rich since the 2020 pandemic lends itself perfectly to these large, customizable ships that can be taken out to sea. A fully crewed ship is also needed to keep up with for new trend in exploration and environmental sailing, with boat owners venturing outside of the Mediterranean and Caribbean to experience more varied habitats. Other luxury sectors are taking note of these trends driving demand for superyachts, with hotel chains like The Four Seasons and The Ritz-Carlton aiming to offer bespoke superyacht experiences by 2025. By introducing this option, hotel chains are responding to the increased market demand for exploration while creating an experience that is more exclusive and private than a luxury cruise.

Demand has also been driven by an expanding number of prospective superyacht buyers as the number of ultra-high-net-worth individuals continues to increase globally. The growth is primarily driven by American buyers, with significant potential in regions like China and Southeast Asia, where ultra-rich buyers with disposable income are growing at a faster pace than they are in the West. This increase in wealthy customers in Southeast Asia, combined with miles of islands and coastlines, creates the conditions for a robust scene for superyachts in the area. The emergence of a new customer base wealthy enough to purchase super- and mega-yachts has made the industry resilient in the face of government sanctions against one of the industry’s largest consumer bases: Russian oligarchs.

The megayacht Nord, believed to belong to sanctioned Russian oligarch Alexey Mordashov, is seen in ... [+] Hong Kong on Friday, Oct. 7.

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Target: Russia Beginning in the early 2000s, Russian billionaires developed a taste for luxury superyachts, with some like Roman Abramovich (who is reported to own 16 vessels , including the Aquamarine, Eclipse, Garcon, Halo, Pelorus, Solaris and Sussurroo), Alexei Mordashov ( Lady M and Nord ) and Eduard Khudainatov ( Scheherazade , Amadea , Crescent ) placing orders for multiple vessels. According to Superyacht News, an industry publication, Russians account for a significant piece of the world's superyacht market. Their estimated share represents about 10% of superyachts exceeding 40 meters in length. The percentage of Russian ownership rises even further for mega-yachts exceeding 80 meters, where Russians hold the number two spot globally, owning 20% of these vessels. Research by Boat International estimates the contribution of Russian buyers to the global superyacht order book (valued between €35 and €40 billion) to be €3.9 billion.

The popularity of superyachts among Russia’s wealthy has caused them to become a focus of the sanctions imposed on Russia following its invasion of Ukraine in February 2022. Alongside traditional targets, including Russian financial holdings, banks, and energy, the assets of oligarchs are actively being seized and frozen by Western powers when possible through initiatives like the Russian Elites, Proxies, and Oligarchs (REPO) task force launched by the G7 and the U.S. Treasury’s Kleptocracy Asset Recovery Rewards (KARR) program.

The seizure of superyachts as assets will likely continue through the end of the invasion of Ukraine and possibly beyond. Recently, there have been increasing calls to sell or transfer these assets, allowing Ukraine to use or sell them to compensate for the damages caused by the war.

Eclipse | 162.5m Built in 2010 , Germany

Europe Suffers Even though the superyacht industry has a sizeable consumer base in Russia, the companies building and managing these yachts are primarily based in Western Europe. Many of these boats are built by shipbuilders such as Lürssen in Germany and Heesen Yachts and Oceanco in the Netherlands. This has led one of the shipyards, Damen, to sue the Dutch government over damages it claims it suffered from the EU sanctions. Additionally, companies like Burgess in the UK, Imperial Yachts and Edmiston in Monaco, and Moran Yacht & Ship in the US, in charge of servicing, managing, and brokering superyachts, are also concentrated in the West.

While Western shipyards and management companies may lose revenue because of sanctions and asset seizure of the Russian oligarchs, keeping the yachts frozen generates additional costs for the countries where they are being held. Some Western countries devised a solution to ease the burden on taxpayers, granting owners and their representatives special licenses to pay for the frozen vessels. Notably, France and Spain have allowed the billionaire owners of at least four mega-yachts to pay for their upkeep. In the UK, the Office of Financial Sanctions Implementation (OFSI) has allowed the management company Burgess to pay for pre-sanction crew salaries of a yacht frozen in the UK.

Though the media associated superyachts with Russian oligarchs, this archetypal image of a superyacht owner may soon grow obsolete if the sanctions regime remains or even strengthens, causing multi-million dollar losses to the industry. Instead, growth in the sector is driven by a new class of rich being created in places like the United States and the Pacific Rim, seeking luxury lifestyles that can be provided by a superyacht. The superyacht industry will capitalize on the unprecedented wave of demand to increase its resilience in the stormy global security and economic environment.

Quin Buckley & Henry Tsai contributed to the production of this article.

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Luxury Yacht Market Size, Share & COVID-19 Impact Analysis, By Type (Motor Yachts and Sailing Yachts), By Size (Up to 50 Meters, 50 to 100 Meters, and More than 100 Meters), By Application (Personal use and Commercial use), and Regional Forecast, 2023-2030

Region : Global | Format: PDF | Report ID: FBI105396

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KEY MARKET INSIGHTS

The global luxury yacht market size was valued at USD 6.40 billion in 2022. The market is projected to grow from USD 7.67 billion in 2023 to USD 13.67 billion by 2030, exhibiting a CAGR of 8.6% during the forecast period.

A luxury yacht is a high-end recreational vehicle offering exclusive and luxurious amenities along with accommodation. These vessels are loaded with the most advanced features for their users. Luxurious yachts include spacious cabins, staterooms, a pantry facility, multiple decks with entertainment facilities, water sports equipment, such as jet skis, and water toys. They are also equipped with advanced navigation and safety systems. These vessels can be privately or commercially owned. Their demand has increased steadily in recent years. This can be attributed to lifestyle changes, such as increasing wealth, recreation & leisure trends, and growing yacht tourism.

COVID 19 IMPACT:

Growing Need for Seclusion to Surge Private Yachting Demand Post COVID-19 Pandemic

The pandemic had a major impact on the luxury yacht market growth. As the COVID-19 pandemic spread rapidly across the world, several countries closed their borders and restricted travel. This had a major impact on the travel & tourism industry. Initially, the market experienced a slowdown in sales and demand due to global uncertainty and travel restrictions. Many potential buyers postponed or canceled their purchases, causing a decline in sales. Ever since the first case of infection was reported, people grew more sensitive and cautious about protecting themselves from exposure to the virus. One of the steps that people had adopted toward staying safe was refraining from travel. This led to declining charter bookings, revenues, and demand for luxury yachts. Canceled yacht shows and events kept the potential buyer away from the market.

• For instance, in November 2021, The Ritz-Carlton Yacht Collection luxury cruise line had to postpone its inaugural voyage of its first ship, the Evrima, from November 2021 to May 6, 2022.

As travel restrictions eased and vaccination rates surged, the demand for luxury yachts increased. An increase in the desire for seclusion and social distancing among affluent individuals led to private yachting, creating more demand for yachts. The pandemic prompted a shift in travel preferences as well. Remote and off-beaten paths gained popularity among tourists. Buyers were inclined to customize their yachts to suit their requirements, such as personalized onboard amenities, state-of-the-art entertainment systems, wellness facilities, and eco-friendly features.

Despite initial challenges, the luxury yacht market trends demonstrated resilience and adaptability toward changing scenarios during the outbreak. Luxury yacht manufacturers and brokers adjusted their policies to meet the changing customer demands. The market has been recovering, depending on local economic conditions and has indicated a positive outlook.

LATEST TRENDS

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Electrification of Yachts a Growing Market Trend

Yacht manufacturers are expected to increase the production of electric yachts as they switch to batteries to produce zero-emission products. The prevalence of clean propulsion technology will drive the growth of electric yachts in the future. Electric yachts have few moving parts and do not require engine oil or gas. Additionally, these yachts are quiet and require little maintenance.

Electric luxury yachts produce more torque and efficiently convert stored kinetic energy into electricity. These yachts are environmentally friendly and emit no carbon dioxide, thereby reducing greenhouse gas emissions. A tough regulatory environment for traditional yachts and rising fuel prices will pave the way for the solid growth of electric yachts in the future. Huge investments from various manufacturers and government support measures will accelerate the demand for electric yachts. Moreover, companies are investing in R&D to develop new concepts for electrification. For instance, in June 2023, Porsche and Frauscher Shipyard announced the development of the Frauscher x Porsche 850 Fantom Air, an innovative electric yacht.

This venture marks Porsche's ambition to extend its electric prowess beyond the road and racing cars to promote maritime sustainability. This model combines aesthetics and innovation; the yacht utilizes the Premium Platform Electric (PPE) technology. It is integrated a high-capacity 100 kWh lithium-ion battery , the latest-generation permanently excited synchronous electric motor (PSM), and state-of-the-art power electronics.

DRIVING FACTORS

Increasing Number of UHNWIs to Surge Product Demand

The proportion of Ultra-high Net Worth Individuals (UHNWIs) continues to rise. The superyacht industry has benefited from the proliferation of billionaires and super-rich people. Most, if not all, yacht brokerage firms are reporting record sales at the world's leading shipyards and their backlogs continue to grow.

This positive trend has also spread to the yacht market, with record numbers of first-time charters registered in 2021. New charter customers accounted for around 40% of the luxury charter market in 2021, according to the latest yacht marketing insights from Fraser, one of the world's leading yacht brokerage firms. More ultra-rich people want to make extravagant investments to suit their lifestyle. The rising interest in luxury yachts around the world will drive the market. In addition to this, the number of wealthy individuals around the world continues to grow. The luxury yacht market share is expected to grow at a robust pace during the forecast period owing to the rising interest in luxury cruising and a steady increase in high-net-worth companies, especially in the Asia Pacific region.

RESTRAINING FACTORS 

Environmental Concerns Related to Yachting Activities to Restrain Market Growths

Yachts have a significant impact on marine ecosystems. In busy waterways, the presence of luxury yachts can lead to algae and sedimentation, blocking solar radiation, degrading the water quality, and hampering marine life. In addition, sediments on yachts can change the water chemistry, making it either alkaline or acidic. The chemicals used to wash, operate, and protect yachts often mix with the water and seriously impact the environment, killing and debilitating wildlife. Since freshwater is commonly used for drinking water and fishing, such toxins in freshwater can affect humans as well.

New motor yachts, jet skis, sailing yachts, and other leisure boats have strict limits for nitrogen oxides (NOx), particulate matter, and hydrocarbons (HCs). In September 2021, representatives from the California Air Resources Board (CARB) proposed emission regulations for commercial yachts. Through these regulations, CARB aims to minimize harmful gas emissions. As recreational sailing is popular, protecting marine ecosystems and the environment has become an uphill battle. Regulatory measures and educational programs help raise awareness and reduce yacht-related pollution. But protecting aquatic life and human health requires a concerted effort by yacht manufacturers, consumers, and regulators.

According to the International Maritime Organization, marine tourism resources are subject to various global threats to the oceans and marine systems, mainly due to anthropogenic factors. These include climate change, overfishing, bottom trawling (fishing nets along the seafloor), migration of invasive species, changes in inputs of waste, nutrients, and sediments to coastal and marine ecosystems, coastal urbanization, and loss of resources and natural capital in coastal areas, especially coastal wetlands.

SEGMENTATION

By type analysis.

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Higher Comfort Offered by Motor Yachts to Boost Their Demand

The market, based on type, is fragmented into motor yachts and sailing yachts. Motor yachts are the dominant and fastest growing segment. Motorized yachts provide larger space since they do not rely on winds and can cruise at high speeds, making them suitable for long-distance travels.

Sailing yachts have also showcased a significant growth rate in the market. This growth is due to their eco-friendliness and affordability. Sailing yachts have lesser budgets than motor yachts and are safer and more reliable.

By Size Analysis

Up to 50 Meters to Hold Largest Market Share Due to Affordability and Diverse Use

By size, the market is classified into up to 50 meters, 50 to 100 meters, and more than 100 meters. The up to 50-meter segment accounts for the largest global luxury market share. These yachts can be utilized for both personal activities and commercial use.

The demand for superyachts and megayachts is rising in most developed countries and there has been a notable surge in tourism in these nations. Therefore, the 50-100 meters segment is expected to record the highest CAGR, while the more-than 100 meters segment may exhibit a significant growth rate during the forecast period.

By Application Analysis

Rising Disposal Income to Boost Product Use for Personal Activities

By application, the market is divided into personal use and commercial use.

In 2022, the personal use segment held the largest market share. Rapid urbanization, rising living standards, rising personal disposable incomes, and growing population of high net worth individuals have increased the spending on luxury goods and leisure activities. These factors are anticipated to fuel the growth of the personal use segment. Therefore, luxury yacht services have also seen a significant increase in demand in recent years.

Rising commercial get-togethers, such as corporate events, parties, sailing competitions, and fishing activities have boosted the commercial use segment growth.

REGIONAL INSIGHTS

Europe Luxury Yacht Market Size, 2022 (USD Billion)

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Regionally, the market is analyzed across North America, Europe, Asia Pacific, and Rest of the World.

Europe is expected to hold the largest market share. This region has the potential to dominate the market due to the strong growth of maritime tourism and wide range of tourist destinations. Countries, such as Croatia, Greece, France, Spain, and Italy are the region's top tourist destinations and highest income earners. The rise in the popularity of fishing activities and water sports and growing upper-class population are expected to drive the market development in the region during the forecast period. Rising booking of European air tickets, strong online demand for yacht charter service providers, and increased issueance of vessel permits are expected to drive market growth in the region. The region's wealthy population is also likely to drive the market growth.

North America holds the second-largest position in the market as the region's diverse coasts have become great cruise destinations. The U.S. dominates this regional market due to the presence of major charter hubs within the country.

Asia Pacific is expected to be the fastest growing region in the next few years. This growth has been credited to rapid urbanization, rising living standards, and rising disposable incomes. Leisure activities, such as fishing and water sports are becoming more popular in Thailand, Malaysia, Singapore, China, Japan, and Australia. Maritime tourism is also rising, presenting significant opportunities for yacht manufacturing companies. In addition, aggressive government initiatives for marine tourism development, especially in countries, such as India and China, are expected to boost the regional market growth.

KEY INDUSTRY PLAYERS

Significant Product Offerings by Azimut Benetti Will Strengthen its Growth Prospects

Azimut Benetti is the first among all key players leading a global private group in the yachting sector, established in 1969 and headquartered in Viareggio, Italy. It has more than 50 years of experience in the sector. The company has achieved 60% growth in the last four years, and has 526,000 sq.m. of a production facility and 138 showrooms in 80 countries globally. It is known for continuous innovation and experimentation; it has been the world’s leading manufacturer of mega yachts and shipyard with the widest range of models for 23 years. The company has 168 projects under construction, totaling 5,991 meters in length, making it rank first, for the 23rd time in a row, in the annual ranking of the largest yacht builders. The company has major brands, such as Azimut, Benetti, Yachtique, and Lusben.

LIST OF KEY COMPANIES PROFILED:

• Azimut Benetti S.p.A. (Italy)
• Sanlorenzo S.p.A (Italy)         
• Ferretti Group (Italy)
• Feadship (Netherlands)
• Princess Yachts (U.K.)
• Sunseeker Yachts (U.K.)
• Fr. Lurssen Werft GmbH & Co. KG (Germany)
• ISA Yachts (Italy)
• Ocean Alexander (Taiwan)
• Kingship Marine Limited (China)

KEY INDUSTRY DEVELOPMENTS:

• June 2023: Sanlorenzo launched a 47-meter explorer yacht called Para Bellum. The company’s tenth yacht is in its high-selling 460-500 EXP series. It is powered by twin Caterpillar engines that reach a cruising speed of 13 knots.
• May 2023: The Kadey-Krogen Group (Florida) acquired American Tugs in LaConner, Washington. American Tugs was founded in 1999 and is a leading builder of high-quality, U.S.-built coastal cruisers with a vast customer base in North America and Europe. The company has delivered over 250 cruising yachts and five commercial vessels from its 2,600 sq.m. facility.
• April 2023: Ferretti Group launched the Pershing 140. It is the company’s first flagship model entirely built from aluminum in the Ancona facility. The Pershing 140 yacht is equipped with four MTU 16V 2000 M96L engines, each rated at 2,600 hp, providing a cruising speed of 35 knots and a top speed of 38 knots.
• March 2023: Ferretti Group, a leader in luxury yacht manufacturing, acquired a 70,000-sq.m. production site in Ravenna. The company planned to invest USD 87 million in its new facility to build new production spaces and R&D centers. The company aims that with this new facility, there will be a 20% increase in its production.
• September 2022: Ferretti Group acquired significant stakes in Masello Srl and Fratelli Canalicchio SpA. Both companies are Italy-based. Masello Srl, based in Fano, Italy, is an expert in wooden furniture for yachts and recently launched an innovative onboard assembly service. Fratelli Canalicchio SpA, based in Narni, Italy, specializes in static exteriors and automatic kinetic systems for yachts.

REPORT COVERAGE

An Infographic Representation of Luxury Yacht Market

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The market report provides a detailed analysis and focuses on key aspects, such as leading companies, product types, end-users, design, and technology. Besides this, it offers in-depth insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the market's growth in recent years.

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Frequently asked questions.

Fortune Business Insights says that the global market was valued at USD 6.40 billion in 2022. The global market is projected to grow to USD 13.67 billion by 2030.

The market is expected to register a CAGR of 8.6% during the forecast period of 2023-2030.

Increasing number of UHNWIs across the globe is expected to surge the market growth.

Europe led the global market in 2022.

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• PUBLISHED ON: Aug, 2023
• BASE YEAR: 2022
• HISTORICAL DATA: 2019-2021
• NO OF PAGES: 200

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The global luxury yacht market size is projected to grow from $7.67 billion in 2023 to $13.67 billion by 2030, at a CAGR of 8.6% during the forecast period

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Luxury Yacht Market

Luxury yacht market report by type (sailing luxury yacht, motorized luxury yacht, and others), size (75-120 feet, 121-250 feet, above 250 feet), material (frp/ composites, metal/ alloys, and others), application (commercial, private), and region 2024-2032.

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Market Overview:

The global luxury yacht market size reached US$ 7.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 16.9 Billion by 2032, exhibiting a growth rate (CAGR) of 8.6% during 2024-2032.  The increasing wealth among affluent individuals and their interest in exclusive leisure activities, the growing emphasis on experiential luxury, and the expansion of marine tourism and the advent of luxury charter services are some of the factors that are propelling the market.

A luxury yacht is a highly sophisticated vessel that combines performance, comfort, and style, catering to the tastes of affluent individuals. Often ranging from under one hundred feet to several hundred feet in length, these yachts are characterized by elegant design, state-of-the-art technology, and remarkable amenities. Equipped with advanced navigation systems, powerful engines, and intricate craftsmanship, ensuring optimal functionality and aesthetic appeal. The working mechanism involves the seamless integration of various systems, such as propulsion, stabilization, communication, and entertainment, to provide an unparalleled sailing experience. They are commonly used for private leisure activities, offering privacy, freedom, and a personalized experience. Besides as modes of transportation, these yachts are utilized as a symbol of status and luxury, featuring amenities such as Jacuzzis, gyms, cinemas, and fine dining facilities.

The global market is primarily driven by the increasing wealth among affluent individuals and their interest in exclusive leisure activities. In line with this, the rise in private charters and a preference for customized, high-end designs tailored to individual tastes are also providing an impetus to the market. Moreover, the burgeoning tourism industry and the desire for remote, luxurious travel experiences are also acting as significant growth-inducing factors. In addition to this, technological advancements in navigation, propulsion, and on-board entertainment are resulting in an enhanced appeal for these vessels. The market is further driven by strategic partnerships and collaborations among yacht manufacturers and designers. Some of the other factors contributing to the market include the increasing importance of status symbols among the elite, the influence of global travel trends on luxury spending, the development of advanced docking facilities and extensive investment in research and development (R&D) for innovative yacht features and technologies.

Luxury Yacht Market Trends/Drivers:

Implementation of stricter environmental regulations The introduction of stricter environmental regulations is having a profound impact on the market. As global awareness of environmental issues grows, there is increasing pressure on industries to reduce their carbon footprint and adhere to sustainable practices. In line with this, yacht manufacturers are compelled to innovate and develop eco-friendly yachts that align with both regulatory requirements and the values of environmentally conscious consumers. The integration of renewable energy sources such as solar panels, wind turbines, and hybrid propulsion systems are part of this initiative. Manufacturers are also focusing on using sustainable materials and reducing waste during construction. These environmentally friendly practices are not only meeting legal obligations but also enhancing the appeal of luxury yachts among a new generation of affluent clients who prioritize sustainability. This combination of regulatory compliance and consumer demand is driving substantial investment in research, development, and implementation of green technologies within the industry, setting a new standard for the entire sector.

Growing emphasis on experiential luxury The concept of experiential luxury is another pivotal driver in the market. The high-net-worth individuals are increasingly seeking unique and personalized experiences that reflect their individual tastes and values. This goes beyond mere ownership and extends to how the yacht can provide a one-of-a-kind, luxurious experience. Customized interiors, exclusive amenities, on-board chefs offering gourmet cuisine, and personalized itineraries are some examples of how this trend is being realized. The ability to create memories and offer experiences that are not easily replicable elsewhere is becoming a defining factor in luxury consumption. Yacht manufacturers and designers are collaborating closely with clients to understand their specific needs and desires, allowing them to craft yachts that are more than mere vessels but extensions of their owners' personalities and lifestyles. This focus on experiential luxury is not only meeting but exceeding customer expectations, reinforcing the allure of owning a luxury yacht.

Expansion of marine tourism and the advent of luxury charter services

The remarkable expansion of marine tourism and the advent of luxury yacht charter services have emerged as essential factors driving the luxury yacht market. In recent years, marine tourism has seen significant growth, particularly among affluent travelers seeking unique and opulent vacation experiences. Simultaneously, the rise of luxury yacht charter services has made it possible for more individuals to experience the grandeur of yachting without the need for ownership. These charter services provide flexibility, allowing clients to choose from a wide range of vessels, destinations, and durations, all tailored to individual preferences and budgets. Moreover, partnerships between tourism boards, travel agencies, and yacht charter companies are further promoting marine tourism and making luxury yachts more accessible. This synergy is not only expanding the customer base but is also encouraging continuous innovation in amenities, services, and destinations, ensuring that the luxury yacht market remains vibrant, competitive, and responsive to evolving consumer needs and desires.

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Luxury Yacht Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global luxury yacht market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on type, size, material and application.

Breakup by Type:

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• Sailing Luxury Yacht
• Motorized Luxury Yacht

Motorized luxury yacht represents the largest market segment

The report has provided a detailed breakup and analysis of the market based on the type. This includes sailing luxury yacht, motorized luxury yacht, and others. According to the report, motorized luxury yacht represented the largest segment.

Motorized luxury yachts are favored for their higher speeds and convenience, appealing to clients seeking efficient and swift travel between multiple destinations. Additionally, these yachts provide abundant deck space and luxury amenities, catering to those desiring opulence and entertainment options while on board.

On the other hand, the sailing luxury yacht segment is driven by its strong nautical tradition and the romantic appeal of cruising on the open sea, offering a unique and authentic maritime experience. Moreover, the growing focus on environmental consciousness attracts individuals who view sailing yachts as a greener and more eco-friendly option compared to motorized yachts. Breakup by Size:

• 75-120 Feet
• 121-250 Feet
• Above 250 Feet  

75-120 feet accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the size. This includes 75-120 feet, 121-250 feet, and above 250 feet. According to the report, 75-120 feet represented the largest segment.

Yachts in the 75-120 feet size range strike a balance between spaciousness and maneuverability, attracting clients seeking versatility and access to various cruising destinations. This segment appeals to both private owners looking for a personal yacht and those interested in charter services, supporting market growth through diverse usage.

On the other hand, yachts ranging from 121 to 250 feet offer exclusivity, grandeur, and long-range cruising capabilities, appealing to high-net-worth individuals looking for opulent experiences and the ability to explore remote destinations.

Furthermore, the superyacht category, or yachts above 250 feet provide the ultimate luxury with unparalleled customization possibilities, making them the preferred choice of the most discerning clientele. Furthermore, some yachts in this category are designed for corporate events or operate as charter vessels, catering to both private and commercial demand. Breakup by Material:

• FRP/ Composites
• Metal/ Alloys
• Others  

FRP/Composites represents the largest market segment

The report has provided a detailed breakup and analysis of the market based on the material. This includes FRP/composites, metal/ alloys, and others. According to the report, FRP/ composites represented the largest segment.

Yachts constructed with fiberglass-reinforced plastics (FRP) and composites offer innovative design possibilities, allowing for unique and modern aesthetics. Additionally, the lightweight nature of these materials contributes to fuel efficiency, reducing operational costs and appealing to environmentally conscious clients.

On the other hand, metal and alloy construction are known for their durability, making them ideal for clients seeking sturdy and long-lasting yachts capable of withstanding challenging sea conditions. The customization potential in large yachts made from metals and alloys further enhances their appeal to affluent buyers. Breakup by Application:

• Private  

Commercial accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the application. This includes commercial and private. According to the report, commercial represented the largest segment. The commercial segment thrives on the demand for charter services, corporate events, and luxury tourism, offering a reliable stream of revenue for yacht companies. Additionally, having a diversified portfolio that includes charter services and events provides stability and growth opportunities in the luxury yacht industry.

On the other hand, the private segment caters to individuals seeking an exclusive and personalized yacht ownership experience, reflecting status and individual preferences. Offering discreet, high-end services such as onboard staff, personalized itineraries, and access to private events enhances the allure of private yacht ownership, driving demand in this segment. Breakup by Region:

To get more information on the regional analysis of this market, Request Sample

United States

• South Korea

United Kingdom

• Middle East and Africa  

North America exhibits a clear dominance, accounting for the largest luxury yacht market share

The report has also provided a comprehensive analysis of all the major regional markets, which includes North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others); Latin America (Brazil, Mexico, and Others); and the Middle East and Africa. According to the report, Asia Pacific represented the largest market. North America's luxury yacht market thrives on the significant population of high-net-worth individuals who prioritize exclusive leisure experiences. The region's affluent clientele, renowned for their discerning tastes and desire for opulent living, fuel the demand for luxury yachts as the epitome of sophisticated indulgence.

Moreover, the well-established yachting infrastructure in North America plays a pivotal role in supporting and nurturing the luxury yacht market. The presence of world-class marinas, state-of-the-art shipyards, and a plethora of supporting services, ranging from yacht maintenance to concierge assistance, ensures a seamless and lavish yachting experience for clients. This infrastructure not only enhances the convenience of yacht ownership but also fosters a thriving ecosystem for yacht enthusiasts.

Furthermore, the augmenting demand of cruising along the coasts and islands of North America along with the experience of luxurious waterfront destinations contributes to the market growth in the region. As a result, North America offers a diverse range of cruising opportunities that appeal to the elite travelers seeking extraordinary and unforgettable journeys.

Competitive Landscape:

The major yacht manufacturers are heavily investing in research and development. This investment is focused on introducing innovative features, enhancing the sustainability of yachts, and incorporating cutting-edge technology such as advanced navigation systems, hybrid propulsion, and personalized on-board entertainment solutions. In line with the trend towards experiential luxury, many yacht manufacturers are emphasizing customization. They are working closely with clients to create tailor-made yachts with unique designs and features that reflect the individual tastes and lifestyles of their owners. As sustainability becomes a key concern for consumers, leading yacht manufacturers are working towards developing eco-friendly models, including the use of renewable energy, sustainable materials, and energy-efficient designs. They are also working closely with clients to create tailor-made yachts with unique designs and features that reflect the individual tastes and lifestyles of their owners.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Alexander Marine International
• Azimut - Benetti S.P.A.
• Brunswick Corporation
• Christensen Shipyards LLC
• Damen Shipyards Group N.V.
• Feadship Holland B.V.
• Fincantieri S.p.A. (CDP Industria S.p.A.)
• Heesen Yachts Sales B.V.
• Horizon Yacht USA
• Palumbo Group S.P.A
• Princess Yachts Limited
• Sanlorenzo S.p.A.
• Sunseeker International (Wanda Group)
• Viking Yacht Company

Recent Developments:

• In June 2023, Azimut - Benetti S.P.A. and ENI sustainable mobility have signed an agreement for the supply and use of hvolution, the biofuel produced from 100% renewable raw materials. This is the first yachting industry agreement that targets decarbonization.
• In July 2023, Mercury Marine, a division of Brunswick Corporation announced that it has begun serial production of its new 20e and 35e Avator electric propulsions systems, with release for sale planned for later in 2023. Mercury has committed to the introduction of five Avator products in 2023.
• Damen Shipyards Group announced the first sale of its innovative Damen Air Cavity System (DACS) to Amisco on July 2023. Damen will retrofit the DACS system to Amisco’s cargo vessel Danita in Tallinn, Estonia. DACs is an air lubrication system, borne out of a collaboration between Damen and the Delft University of Technology (TU Delft). It maintains a thin layer of air over the flat bottom of a vessel’s hull, reducing resistance in the water, thereby lowering drag and friction. As a result, the efficiency of the vessel is improved with fuel consumption reduced by up to 15%.

Luxury Yacht Market Report Scope:

Key benefits for stakeholders:.

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the luxury yacht market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global luxury yacht market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the luxury yacht industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Key Questions Answered in This Report

The global luxury yacht market was valued at US$ 7.9 Billion in 2023.

We expect the global luxury yacht market to exhibit a CAGR of 8.6% during 2024-2032.

The expanding recreational tourism sector, along with the widespread availability of luxury yachts on lease by yacht fleet operators for organizing business meetings, recreational activities, and events, is primarily driving the global luxury yacht market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt in various recreational activities and demand fluctuations for luxury yacht.

Based on the type, the global luxury yacht market has been segmented into sailing luxury yacht, motorized luxury yacht, and others. Currently, motorized luxury yacht holds the majority of the total market share.

Based on the size, the global luxury yacht market can be divided into 75-120 feet, 121-250 feet, and above 250 feet, where 75-120 feet currently exhibits a clear dominance in the market.

Based on the material, the global luxury yacht market has been categorized into FRP/ composites, metal/ alloys, and others. Among these, FRP/ composites account for the majority of the global market share.

Based on the application, the global luxury yacht market can be segregated into commercial and private. Currently, the commercial sector holds the largest market share.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global luxury yacht market include Alexander Marine International, Azimut - Benetti S.P.A., Brunswick Corporation, Christensen Shipyards LLC, Damen Shipyards Group N.V., Feadship Holland B.V., Fincantieri S.p.A. (CDP Industria S.p.A.), Heesen Yachts Sales B.V, Horizon Yacht USA, Palumbo Group S.P.A, Princess Yachts Limited, Sanlorenzo S.p.A., Sunseeker International (Wanda Group), Viking Yacht Company, etc.

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Global Luxury Yacht Market Size, Share, and COVID-19 Impact Analysis, By Size (Up To 50 Meters, 50 To 100 Meters, More Than 100 Meters), By Type (Sports Yacht, Cruiser Yacht, Flybridge Yacht), By Propulsion (Motor, Sail), By Application (Personal Use, Commercial Use), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033

Global Luxury Yacht Market Insights Forecasts to 2033

• The Global Luxury Yacht Market Size was Valued at USD 9.2 Billion in 2023.
• The Market Size is Growing at a CAGR of 6.5% from 2023 to 2033.
• The Worldwide Luxury Yacht Market Size is Expected to Reach USD 17.3 Billion by 2033.
• Asia Pacific is expected to Grow the fastest during the forecast period.

Get more details on this report -

The Global Luxury Yacht Market Size is Anticipated to Exceed USD 17.3 Billion by 2033, Growing at a CAGR of 6.5% from 2023 to 2033.  

Market Overview

A luxury yacht is a privately owned vessel typically designed and equipped for leisure and recreational purposes. These yachts are characterized by their large size, luxurious amenities, and high-end features. They are often owned by affluent individuals or rented out for extravagant vacations and events. Booking a yacht offers groups and people to experience the exclusivity and luxury of yachting without the long-term bond of ownership. However, such a factor has attracted a huge range of consumers. If more and more people get an interest in booking and exploring yachting some of the few rich individuals will be interested in buying these luxury yachts, which help to support the market growth for luxury yachts. The luxurious yachts comprise advanced facilities and features like staterooms, spacious cabins, water sports equipment, a pantry facility, and multiple decks with entertainment facilities. In addition to this, luxury yachts are also equipped with safety systems, powerful engines, and intricate craftsmanship, ensuring optimal functionality, aesthetic appeal, and advanced navigation. The companies that manufacture these luxury yachts mainly focus on the qualities of yachts because it is a key factor that differentiates between luxury yachts and non-luxury yachts. However, to construct luxury yachts they use fast patrol vessels, interceptors, and frigates to give high security to world navies. A rising concern about environmental preservation has prompted the production of luxury solar yachts.

Report Coverage

This research report categorizes the market for the global luxury yacht market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global luxury yacht market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global luxury yacht market.

Global Luxury Yacht Market Report Coverage

Driving Factors

The combining key factor is an increasing tourism sector and increasing yacht ownership has propelled the growth of the luxury yacht market in the global space. The increasing tourism sector helps to grow the luxury yacht industry because tourists and travelers are seeking unique and exclusive experiences which significantly supports luxury yacht booking. Buying a luxury yacht by rich individuals represents a status symbol in many regions and some invest in private luxury yacht ownership for personal use. Moreover, these two factors simultaneously support the yacht companies for more production and innovation, offering a wide range of luxury options, ranging from mega yachts to more advanced models with more accessible features, thereby fueling the market growth.

Restraining Factors

Growing awareness of environmental issues and sustainability concerns may lead to increased scrutiny of luxury yacht ownership, particularly regarding carbon emissions, fuel consumption, and the impact of marine activities on marine ecosystems. However, the presence of luxury yachts in busy waterways can lead to algae and sedimentation, degrading the water quality and blocking solar rays which hamper marine life. Moreover, the high purchase and ongoing maintenance costs which consist of crew salaries, insurance costs, fuel costs, repair fees, and docking expenses are also quite high which further limits the market growth for ultra-wealthy individuals and potentially hinders buyers.

• Market Segmentation

The global luxury yacht market share is classified into size, type, propulsion, and application.

• The up to 50-meter segment is expected to grow at the fastest pace in the global luxury yacht market during the forecast period.    

Based on the size, the global luxury yacht market is divided into up to 50 meters, 50 to 100 meters, and more than 100 meters. The up to 50-meter segment is expected to grow at the fastest pace in the luxury yacht market during the forecast period. The 50-meter-sized yachts are used for both commercial purposes and personal activities. Individuals with significant wealth and a desire to showcase their success are attracted to the yachts of this segment due to their unparalleled exclusivity in the market. Luxury yacht in this segment provides facilities like movie halls, swimming pools, gyms, and cafeterias which helps to support the market growth in this segment.

• The cruiser yacht segment is expected to grow at the fastest pace in the global luxury yacht market during the forecast period.    

Based on the type, the global luxury yacht market is divided into sports yachts, cruiser yachts, and flybridge yachts. The cruiser yacht segment is expected to grow at the fastest pace in the luxury yacht market during the forecast period. The cruiser luxury yacht significantly offers a perfect balance between luxury and size. In addition to this cruiser, luxury yachts are assembled in such a way that it provides a spacious interior with many cabins which extends the cruising experiences for the consumers. Individuals with significant wealth who want to travel farther while still being comfortable, which makes these cruiser yachts perfect for long trips and private holidays.

• The motor segment is expected to hold the largest share of the global luxury yacht market during the forecast period .

Based on propulsion, the global luxury yacht market is divided into motor and sail. Among these, the motor segment is expected to hold the largest share of the luxury yacht market during the forecast period. Motor yachts are well known for their speed and power, providing an exciting water experience. These yachts are the ideal option for gathering a large number of guests because of their wide decks, big interiors, and comfortable bedrooms. People's need for mobility is also fueling this increase, as yachts enable fast travel to a wide range of sites.

• The personal use segment is expected to grow at the greatest pace in the global luxury yacht market during the forecast period.

Based on the application, the global luxury yacht market is divided into personal use and commercial use. Among these, the personal use segment is expected to grow at the greatest pace in the luxury yacht market during the forecast period. Owning a luxury yacht is often seen as a status symbol among individuals with significant wealth. It represents wealth, success, and a luxurious lifestyle. Many individuals purchase yachts as a way to showcase their prosperity and social status. Spending on luxuries and leisure activities has increased due to factors such as rising living standards, rapid urbanization, rising personal disposable incomes, and an increase in the population of high-net-worth individuals. These factors are expected to fuel the growth of the personal use segment.

Regional Segment Analysis of the Global Luxury Yacht Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Europe is anticipated to hold the largest share of the global luxury yacht market over the predicted timeframe.

Europe is anticipated to hold the largest share of the global luxury yacht market over the predicted timeframe. The top tourist attractions and biggest earning nations in the region are Croatia, Greece, France, Spain, and Italy. During the projected time frame, the region's market growth is anticipated to be driven by an increasing number of wealthy people, and the growing appeal of fisheries and water sports. Because of the great variety of tourist locations and the rapid growth of maritime tourism, this region can take over the market. Europe has a strong maritime legacy because of its long history of manufacturing and shipping. The continent's long tradition of manufacturing luxury yachts and its expertise in design nourish demand for these yachts, attracting buyers from both domestic and international markets.

Asia Pacific is expected to grow at the fastest pace in the global luxury yacht market during the forecast period. The Asia Pacific region, particularly countries like China, India, and Southeast Asian nations, has been experiencing rapid economic growth, leading to an increase in disposable income among affluent individuals. This growing wealth translates into a higher demand for luxury goods and experiences, including luxury yachts. However, fishing and water sports are two of the more popular leisure activities in Thailand, Malaysia, Singapore, China, Japan, and Australia. The developing maritime tourism industry provides yacht manufacturing businesses with a lot of choices. Therefore, it is expected to boost the regional market growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global luxury yacht along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Heesen Luxury Yachts
• Princess Luxury Yachts
• Royal Huisman Shipyard B.V.
• Sanlorenzo S.p.A
• Azimut Benetti
• Damen Yachting
• Ferretti S.p.A.
• Groupe Beneteau
• Hanse Group
• Sunseeker Yachts
• Fr. Lurssen Werft GmbH & Co. KG
• Ocean Alexander
• Kingship Marine Limited
• Sinot Yacht Architecture and Design
• Fincantieri Yachts

Key Target Audience

• Market Players
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In January 2024, Heesen shared that the first yacht of the redesigned 55-meter series has been delivered after thorough testing in the North Sea. Throughout the three-day sea trials, Iris Blue fulfilled all necessary criteria, and the tests proceeded smoothly as scheduled.
• In June 2023, Princess Yachts has introduced a new yacht to their S Class sportbridge series called the Princess S80. This yacht showcases Princess' newest design style and was created by their own design team, along with naval architects Olesinski and Italian design company Pininfarina. The S80 has a flexible layout, making it suitable for owners to operate themselves with a spacious open saloon and raised helm, or it can be crewed discreetly with an enclosed helm and space for up to 3 crew members.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global luxury yacht market based on the below-mentioned segments:

Global Luxury Yacht Market, By size

• Up To 50 Meters
• 50 To 100 Meters
• More Than 100

Global Luxury Yacht Market, By Type

• Sports Yacht
• Cruiser Yacht
• Flybridge Yacht

Global Luxury Yacht Market, By Propulsion

Global Luxury Yacht Market, By Application

• Personal Use
• Commercial Use

Global Luxury Yacht Market, By Region

• Rest of Europe
• South Korea
• Rest of Asia Pacific
• Rest of South America
• Saudi Arabia
• South Africa
• Rest of the Middle East & Africa

Frequently Asked Questions (FAQ)

• 1. Which region holds the largest share of the global luxury yacht market? Europe is anticipated to hold the largest share of the global luxury yacht market over the predicted timeframe.
• 2. What is the market growth rate of the global luxury yacht market? The market size is growing at a CAGR of 6.5% from 2023 to 2033.
• 3. What is the market size of the global luxury yacht market? The global luxury yacht market is expected to grow from USD 9.2 Billion in 2023 to USD 17.3 Billion by 2033, during the forecast period 2023-2033.
• 4. Which are the key companies that are currently operating within global luxury yacht market? Heesen Luxury Yachts, Princess Luxury Yachts, Royal Huisman Shipyard B.V., Sanlorenzo S.p.A, Azimut Benetti, Damen Yachting, Ferretti S.p.A., Groupe Beneteau, Hanse Group, Sunseeker Yachts, Fr. Lurssen Werft GmbH & Co. KG, Ocean Alexander, Kingship Marine Limited, Sinot Yacht Architecture and Design, ISA Yachts, Fincantieri Yachts, Feadship, Others
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Luxury Yacht Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Sailing Luxury Yacht, Motorized Luxury Yacht, and Others), Material (FRP/Composites, Metal/Alloys, and Others), and Size (75–120 Feet, 121–250 Feet, and Above 250 Feet)

Publication Month : Feb 2023

• Report Code : TIPRE00004787
• Category : Automotive and Transportation
• Status : Published
• No. of Pages : 161
• Description
• Table of content
• Research Methodology
• Free Download Sample

The luxury yacht market size is expected to grow from US$ 6,076.59 million in 2022 to US$ 10,338.10 million by 2028; it is estimated to grow at a CAGR of 9.3% from 2022 to 2028.

Yachts of at least 75 feet or above are considered luxury yachts. Based on size, they are called mega yachts or superyachts. Based on mode of operation, luxury yachts are bifurcated into sailing and motorized. Increase in disposable income of individuals across both developed and developing countries and rise in leisure activities are fueling the demand for luxury yachts. Additionally, the growing demand for luxury tourism, along with exclusive travel plans and personalized service, from high-net-worth individuals, is further propelling the demand for luxury yachts.

The rise of luxury yacht rental service providers across the globe, owing to the demand for luxury tourism, is also boosting the demand for luxury yachts. Vendors offering luxury yachts on a rental basis include Fun2 Rent, Sailogy S.A., The Mooringsand Incrediblue Limited, and Boatbound Inc. Additionally, the rise in sports activities and the adoption of the same across coastal areas for attracting tourists are expected to increase the demand for luxury sport yachts, thereby contributing to the growth of the global luxury yacht market over the forecast period.

According to Lürssen in October 2022, a German shipyard, presents its iconic Lürssen superyachts CORAL OCEAN at Fort Lauderdale International Boat Show 2022 and inform the visitors about the innovation fuel cell technology used in the superyachts. Presenting the yachts and spreading information regarding fuel cell powered by hydrogen reformed by methanol will showcase the capabilities and advancements in the yachts, increasing its demand in the market. Additionally, in 2020, German superyacht builder, nobiskrug, launched first look of 62-meter-supperyacht project 794. It is a high volume superyacht. Thus, increased launches of superyacht and exhibiting luxury yachts in exhibitions is expected to positively impact the Germany luxury yacht market.

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Luxury Yacht Market: Strategic Insights

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Impact of COVID-19 Pandemic on North America Luxury Yacht Market Growth 

The US was the most affected country in North America due to the COVID-19 pandemic. In 2020, strict regulations were imposed by the US government, due to which many yacht manufacturers were either operating with a limited workforce or had to stop the production of yachts temporarily. This affected the supply chain and the import and export of yachts in the region. However, post-lockdown, in Q3 2020, there is significant increase in water tourism as peoples from the different region traveled to the sea borders to spend their leisure time at sea. Also, Azimut Benetti, an Italian yacht builder, announced that the order booking tripled to US$ 1.38 billion (EUR 1.2 billion) in August 2021 from August 2020, mostly from US clients. Thus, the growing demand for luxury yachts in the region will fuel the growth of the luxury yacht market during the forecast period.

Lucrative Regions for Luxury Yacht Market

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Market Insights – Luxury Yacht Market

Based on geography, the luxury yacht market size is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). Europe held the largest market share in 2021, followed by North America and Asia Pacific. Further, Asia Pacific is expected to register the highest CAGR in the market from 2022 to 2028.

Asia Pacific is segmented into China, Japan, India, South Korea, Australia, and the Rest of APAC. The region is inclined toward the adoption of improved living standards with increased disposable income. As APAC is engaged in superyacht production and yachting activities, the demand for luxury yachts is growing in the region. The rising disposable income is propelling the APAC luxury yacht market growth. For instance, according to Trading Economics, the disposable personal income in India was US$ 2,415,846 million in 2020 and increased to US$ 2,886,265 million in 2021. It is expected to reach US$ 2,987,285 in 2023 and US$ 3,221,733 in 2025. Moreover, according to a report by Superyacht Times B.V. in May 2022, there was a rise in demand for superyachts of lengths 15–45 meters in Hong Kong.

Material-Based Insights – Luxury Yacht Market Analysis

Based on material, the luxury yacht market is segmented into FRP/composites, metal/alloys, and others. Metals/alloys are highly adopted materials in the luxury yacht market. The metal/alloys segment is expected to grow at the highest CAGR owing to the increasing inclination toward composite materials. Metals such as steel, aluminum, titanium, and alloys are increasingly used for yacht building. Steel is used worldwide for building yachts as it is more durable than aluminum, thereby supporting the structure in hard water environment. Titanium is used widely in making yachts owing to its corrosion resistance. Titanium also imparts a luxurious look to the yacht. Moreover, it has a longer sea life. It can resist corrosion from water for over 40 years. Thus, these factors are contributing to the growth of the market for the metal/alloys segment.

Players operating in the luxury yacht market are mainly focused on the development of advanced and efficient systems.

• In January 2023, Alblasserdam Yachtbuilding BV launched 105-meter superyacht H, hull 1050H, which has been radically transformed during the rebuilding process. It features a modern exterior aesthetic, including a new superstructure and fresh interior from Reymond Langton Design. It is built considering the standards in terms of technology, safety, capability, and sustainability.
• In September 2022, Xventure, Heesen Yachts and Winch Design launched XV67. It is the build with latest version and technology done on Xventure, a 57-meter motor yacht..

Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered

Type, Material, and Size

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions

Metal/alloys segment is expected to hold a major market share of luxury yacht market in 2022.

The US is expected to hold a major market share of luxury yacht market in 2022.

Japan, South Korea, and UK are expected to register high growth rate during the forecast period.

Asia Pacific is expected to register highest CAGR in the luxury yacht market during the forecast period (2022-2028)

Azimut Benetti SpA, Fr. Lurssen Werft GmbH & Co KG, Damen Shipyards Group NV, Alblasserdam Yachtbuilding BV, and Fincantieri SpA are the key market players expected to hold a major market share of luxury yacht market in 2022

High Initial Cost and Carbon Footprint

1. Growing Yacht Tourism 2. Increasing Superyacht Demand

The estimated global market size for the luxury yacht market in 2022 is expected to be around US$ 6,076.59 million.

The global market size of luxury yacht market by 2028 will be around US$ 10,338.10 million

The luxury yacht market is expected to register an incremental growth value of US$ 1,706.03 million during the forecast period.

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The List of Companies - Luxury Yacht Market 

• Azimut Benetti S.p.A.
• Bavaria Yachtbau GmbH
• DELTA MARINE
• Brunswick Corporation
• Cheoy Lee Shipyards Limited
• Damen Group
• FINCANTIERI S.p.A.
• Heesen Yachts Sales B.V.
• Palumbo Superyachts Ancona s.r.l

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

• Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

• Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

• Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
• Validates and strengthens in-house secondary research findings
• Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

• Industry participants: VPs, business development managers, market intelligence managers and national sales managers
• Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

• Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

• 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

• 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

• 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

• 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

• Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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Superyacht Market Size, Share, Competitive Landscape and Trend Analysis Report by Size, by Application, by Propulsion : Global Opportunity Analysis and Industry Forecast, 2023-2032

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Report Code: A11376

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The global superyacht market size was esteemed at $ 10,293.3 million in 2022 and is estimated to reach $ 25,677.2 million by 2032, exhibiting a CAGR of 9.8% from 2023 to 2032.

Report Key Highlighters:

• The superyacht market study covers 14 countries. The research includes regional and segment analysis of each country in terms of value ($million) for the projected period 2023-2032.
• The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.
• Over 3,700 product literature, annual reports, industry statements, and other comparable materials from major industry participants were reviewed to gain a better understanding of the market.
• The superyacht market share is slightly fragmented, into several players including Damen Yachting BV, Azimut Benetti Group S.p.A., Burgess, THE ITALIAN SEA GROUP S.p.A., Ferretti SpA, Horizon Yacht USA, Ocean Alexander Yachts, Inc., Overmarine, San Lorenzo and Sunseeker. The companies have adopted strategies such as expansion, product launch, product development and others to improve their market positioning.

Superyacht refers to a luxurious large yacht of over 30m in length. Such vessels have a high-end recreational purpose which is mostly owned by ultra-high net-worth individuals. Superyachts differ considerably both in size, design, luxury accessories, and the highest quality of workmanship. Superyachts come with numerous accessories, which include many decks, pools, helipad, Jacuzzi, gym, among others. These ships normally have a well-trained crew such as a captain, other officers, chef and so many other servants who provide quality services and comfort to the proprietor and their guest.

The growth of the global superyacht market is determined by the growing wealth of ultra-high net-worth persons, the rise as a prominent destination for luxury yachts, and increasing tourist attractions and luxurious hotels that are anticipated to drive the market. However, factors such as environmental concerns related to fuel consumption and emissions and retaining qualified and experienced crew members restrain market growth. On the contrary, the growing demand for electric yachts and customization in luxury yachts are expected to provide lucrative growth opportunities for the market growth.

Increased consumption in emerging economies has led to rapid expansion of the demand for high-end products such as superyachts. Furthermore, technological and design improvements have led to state-of-the-art and high-end boats which favour the marine economy. In addition, the rise of the experiential luxury trend among high-end clients has also contributed to an increase in demand for yachts, since they are the embodiment of the highest level of luxury and privacy. Additionally, global tourism is gravitating toward individual tours of upscale nature, and a trip aboard a superyacht is one such rare experience for discovering the wonders of this planet. Also, governments in different places acknowledge the economic opportunity of the superyacht sector and make the necessary provisions including the latest marinas for yachts and yacht-friendly rules.

In addition, yacht exhibitions and events have a huge impact on brand building and improving a company's reputation in the superyacht industry. A brand's participation in prestigious events strengthens its exclusivity and credibility, as well as its position as a dominant force in the industry. Manufacturers who regularly participate in prestigious events demonstrate their commitment to innovation and perfection, which increases the attractiveness of their products and gives hope to potential consumers. Collaboration between superyacht manufacturers and other luxury companies is also facilitated through yacht shows and events. By collaborating with world-class watchmakers, fashion designers, interior designers, and car manufacturers, exclusive and bespoke boating projects are realized, captivating customers seeking a seamless integration of luxury experiences.

The Europe superyacht industry is the rapid urbanization observed in many countries. In countries like Italy, UK, Spain, Germany. The industry is witnessing a surge in the popularity of sustainable and eco-friendly yachting, aligning with the region's strong emphasis on environmental conservation. In addition, manufacturers in the European region are now venturing into sustainable development and have increased their efforts to produce environment-friendly yachts. For instance, in January 2022, Pascoe International announced the sale of the world's first 100% electric superyacht limousine tender. Additionally, the company has confirmed the new tender is now under construction. The vessel, which is under construction at a major Northern European shipyard is set for delivery to a large newly built mothership in 2023. As Europe remains a hub for high-net-worth individuals and luxury travel, the superyacht industry statistics in the region is well-positioned for sustained growth and continued prominence on the global stage.

Maritime history, high skill craftsmanship, as well as modern designing, made Italy a desirable place for yacht owners with good taste. This development arises from the combination of ancient handicraft, along with contemporary technology. However, Italian shipyards have always supplied elegant yet ultra-modern vessels of high quality. Additionally, having a good port and a central location that strategically places Italy in a position to supply the fast growing external markets. The country's commitment to research and development, coupled with its emphasis on fostering international collaborations, further enhances its competitive edge.

For instance, in February 2023, The Italian Sea Group (TISG) and legendary Italian fashion designer Giorgio Armani revealed their 72-metre superyacht collaboration, currently in build, at a star-studded gala evening at the shipyardâ headquarters at Marina di Carrara. The interior is by Armani/Casa and uses a soft and minimalist palette that contrasts the use of refined materials and hand-crafted finishes. The first interior renderings show polished marble floors with gold accents and occasional use of dark wood. 

Key Developments

The leading companies are adopting strategies such as acquisition, agreement, expansion, partnership, contracts, product launches and other to strengthen their market position.

• In July 2023 , Damen Yachting launched fourth Amels 60 superyachts. The 60m, 830 GT Amels 60 superyacht features an exterior design by Espen oino, naval architecture by Damen Yachting and a custom interior by two collaborating studios, Studio Indigo and Pure Living. It offers six staterooms for up to 12 guests.
• In November 2022 , Damen Yachting expanded its service in Gorinchem yard that includes additional repair facilities and a 150-tonne ship lift. The group intend on the updated shipyard in Gorinchem being an optimal location for the design, maintenance, repair, conversion and building of new ships of up to 90 metres, whilst their Hardinxveld-Giessendam yard divested before the project’s completion.
• In June 2021 , SANLORENZO developed 44 metre superyacht model named the X-Space. The X-Space features a 495GT interior and is designed specifically around privacy, with the upper deck dedicated to the owner. This deck includes a private apartment, study, living room and large master cabin. 
• In March 2020 , Ferretti SpA launched Ferretti 1000 yachts; the first model hit the water from Ferretti Yachts' Cattolica-based facility in Italy.
• In Mach 2020 , SANLORENZO launched SX112 crossover yacht and the 44Alloy and 62Steel superyachts. SX112 comes with 34m length & flagship SX crossover line that proposes a new way of living on the sea: the barriers on board are eliminated, and the boat opens to the outside, in a close relationship with the marine context.

Growth in the Nautical Tourism Industry

Nautical tourism is a specialized form of tourism that involves recreational activities and travel undertaken on water. It encompasses a wide range of activities and destinations related to boating, sailing, yachting, cruising, and other maritime experiences. Yachting along coastal locations is slowly becoming popular across various countries. Nautical tourism, characterized by the exploration of coastal and maritime destinations using luxury vessels, has become a driving force behind the increased demand for superyachts. High-net-worth individuals are increasingly drawn to the allure of unique and exclusive travel experiences, seeking the freedom to explore picturesque coastlines, hidden coves, and exotic island destinations in unparalleled luxury.

Superyachts, equipped with state-of-the-art amenities and crewed by skilled professionals, provide an ideal platform for travelers to indulge in tailor-made itineraries, exploring pristine coastlines and hidden gems inaccessible to conventional forms of transportation. As the allure of nautical tourism continues to captivate the elite global traveler, the demand for superyachts is set to flourish, making them not only vessels of luxury but also essential conduits for a bespoke and unforgettable maritime tourism experience.

Rising Global Wealth

There arises an affluent class of people with huge net worth who tend to find unique yet extravagant ways of expressing their wealth as the economies continue sprawling across different places and income gaps narrow down. For example, the same report by Henley & Partners (2022) reveals that the number of what they call centi-millionaires increased to 28,420 globally (up by 12% since the last year), which is the wealth that is now evident in places like Asia, Middle East and developing countries, in general, has led to increased demand for Superyacht. These vessels, often considered the ultimate status symbols, appeal to individuals who desire not only a means of luxurious travel but also a tangible representation of their success and lifestyle.

The superyacht market benefits from the discretionary spending of this affluent demographic, as these individuals seek exclusive and tailor-made experiences that go beyond conventional travel. The desire to stand out in a crowd, coupled with the appeal of owning a floating sanctuary equipped with the latest technological innovations and lavish amenities, aligns perfectly with the aspirations of the newly wealthy.

High price and maintenance cost

The purchase of a super yacht is typically very expensive, sometimes costing well over one hundred million dollars, making it a privilege reserved mainly for the extremely rich. The high costs involved in buying it serves as a form of barrier into the industry. In addition, the ongoing maintenance costs, encompassing crew salaries, fuel, insurance, dockage fees, and regular repairs, contribute significantly to the total cost of ownership. For instance, 10-15% of the purchase price annually on operating and maintaining a yacht. That's $1-1.5 million a year for a $10 million yacht. Also, routine maintenance can cost roughly 2% of the yacht's value after the yacht's first year, and around 7.5% of the yacht's value when the yacht is 10 years old. Thus, such financial burden can dissuade even affluent individuals from venturing into the superyacht market, as the associated expenses extend far beyond the initial purchase.

The combination of high acquisition costs and the ongoing financial commitments for operation and maintenance can limit the potential customer base, hindering the market's broader growth. Efforts to mitigate these challenges often involve innovations in financing models, shared ownership structures, and the development of more cost-effective operational practices to make superyacht ownership more accessible and sustainable for a wider audience.

Increase in technological advancements and design

The integration of cutting-edge technology has become a hallmark of superyacht design, with a focus on enhancing both the onboard experience and the overall performance of these vessels. Advanced navigation systems, satellite communication, and automation technologies contribute to safer and more efficient maritime travel, while smart home automation systems cater to the desires of owners for seamless control of onboard amenities. For instance, in September 2023, in Botany, New South Wales, UTS Tech Lab, facility will scale up the manufacturing of Advanced Navigationa™ world-first AI navigation systems for GPS-denied environments, including its digital fibre-optic gyroscope (DFOG) technology, Boreas.

Furthermore, superyacht designers are pushing the boundaries of creativity, creating vessels that not only exude elegance but also maximize space and utility. Open and flexible layouts, large windows, and innovative use of materials contribute to a sense of openness and connection with the sea. Moreover, there is a growing emphasis on sustainability in design, with the integration of eco-friendly materials, energy-efficient systems, and even hybrid propulsion technologies. This reflects an industry-wide commitment to environmental responsibility, addressing the concerns of both owners and the broader public.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the superyacht market analysis from 2022 to 2032 to identify the prevailing superyacht market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global market trends, key players, market segments, application areas, and market growth strategies.

  Superyacht Market Report Highlights

• Luxury Yacht Charter
• Yachts Chartering
• Yacht Rental
• Yacht Charter For Vacation
• Sailing Yacht Charter
• Electric Yacht
• Hydrogen Fuel Cell Yacht

Rising global wealth and rising demand for sailing activities are Upcoming Trends of Superyacht Market

Motor Superyachts is the leading application of the Superyacht Market

Europe is the largest regional market for Superyacht.

Damen Yachting BV, Azimut Benetti Group S.p.A., Burgess, THE ITALIAN SEA GROUP S.p.A., Ferretti SpA, Horizon Yacht USA, Ocean Alexander Yachts, Inc., Overmarine, San Lorenzo and Sunseeker.

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Superyacht Market

Global Opportunity Analysis and Industry Forecast, 2023-2032

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Luxury Yacht Market

Luxury Yacht Market by Direct Suppliers, Indirect Suppliers, Number of Bookings, Type, Visit Purpose, Tour Type, Age, Demographic, Booking Channel & Region | Forecast 2023 to 2033

Market Insights on Luxury Yacht covering sales outlook, demand forecast and up-to-date key trends

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Luxury Yacht Market Outlook (2023 to 2033)

As per the latest findings of Future Market Insights, global luxury yacht market revenue is expected to be US$ 8,812.4 Million by the end of 2023. In the long-term, the luxury yacht market is estimated to reach at around US$ 19,924.7 Million in 2033.

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2018 to 2022 Luxury Yacht Market Outlook Compared to 2023 to 2033 Forecast

The word yacht is derived from the Dutch word ‘jacht’ meaning hunt. Luxury yachts are also known as “Floating Palaces or Floating Real Estates". They are the epitome of luxury spending. Luxury yachts are privately owned, professionally crewed and highly expensive motor yachts.

The various stakeholders of the luxury yacht market are yacht manufacturers, brokerage firms and brokers, designers, harbor management services, equipment and accessory sectors, journalists and potential buyers.

The luxury yacht market is both a B2B and B2C market as HNWI (high net worth individuals) and UHNWI (ultra-high net worth individuals) are the direct customers, also there are companies that buy luxury yachts for commercial purposes.

Luxury yacht manufacturing companies are obsessively focused on quality because it is the prime differentiating factor between luxury yachts and non-luxury yachts. These companies manufacture luxury yachts using fast patrol vessels, frigates, and interceptors, which are used by world navies for high security. Growing awareness of environmental protection has led to the manufacture of solar luxury yachts.

Types of Luxury Yachts

Yachts belonging to this category have a length of over 50 meters and are considered to be the largest of their kind. Luxury Megayachts have all the facilities ranging from swimming pools, movie halls, cafeterias, banquet halls to even gyms and suite rooms. They are generally used for leisure and recreation for a large group of people and mostly owned by organizations.

Super Yachts

The average length of a superyacht ranges from 30-50 meters. Due to their smaller size in comparison to a mega yacht, a super yacht has lesser provisions but they are equally luxurious.

By Propulsion:

Luxury Motor Yachts

Motor yachts constitute the widest category of luxury yachts having a motor attached to them. With multi, decks, large interiors and spacious rooms for comfort, these yachts are the perfect choice for a large group of people.

Luxury Sailing Yachts

These kinds of yachts are driven by sail instead of motor. Pleasure boats, also known as yachts, come in various forms and sizes of sails. These vessels can be single sail-single mast), double sail-single mast or multiple sails-multiple masts.

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What are the Key Drivers of the Luxury Yacht Market?

• Growth in Nautical Tourism is fueling the growth of this market

Yachting along coastal locations is slowly becoming popular across various countries. Formulation of favorable policies has been effective in promoting coastal and marine tourism which has consequently led to a boost in yachting tourism as well. Adoption of private boats for leisure, client meetings and large scale parties has become quite prevalent. In order to explore new locations with a smaller crowd, regions such as Asia Pacific, Antarctica and Middle East are being preferred for yachting.

Another reason for growth of luxury yachting tourism has been the availability of renting of charter boats. Rentals for yachts are available on weekly basis which further increases the accessibility of luxury yachting.

• The number of ultra-wealthy households are projected to increase

In the coming years, the number of ultra-wealthy households having assets worth $100 million or more is projected to increase by 70% in the next five years. Shipyards have therefore started to invest in new facilities and technologies to meet the expected demand which will eventually lead to growth in the market for Luxury Yachts

• Green Yachting is becoming popular amongst an environmentally conscious generation

The new generation millennials, belonging to 35-45 year age bracket, have become highly environmentally conscious. This is extremely important to factor in since up to 40% of the yacht buyers are now millennials. Therefore, the sector is slowly switching to green yachting by adopting a more eco friendly approach. By 2050, the International Maritime Organization has instructed the maritime industry to reduce greenhouse gas emissions by 50 percent from 2008 levels by the year 2050 and to reduce carbon footprints of their boats. Electric yachts are also becoming quite popular

What are the Key Factors Affecting Luxury Yacht Market Adversely?

• Luxury Yacht Market is still Nascent in few regions

Talking about the emerging markets for luxury yachting like India, there is a lack of infrastructure even though there is a proven interest in boating. Owning a yacht in a nascent country can be a long and expensive process due to the heavy import tax. Another factor is the absence of cruising locations which is why people are not able to make the most out of owning a yacht in such markets.

However, with increased government participation to create yacht facilities and to invest in the yachting, the future looks bright and full of potential.

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Region Wise Insights

Europe dominates the market for Luxury Yachts followed by the North America region. With vast coastlines and a significant percentage of boating charter taking place in Mediterranean Sea, Europe has become a favorable nautical tourism hotspot. European countries such has Greece and Croatia have been witnessing a surge in tourists wanting to explore water adventures thus driving the growth of Global Luxury Yachts market

Analysis shows that the Asia Pacific region will become the fastest growing market for luxury yachts owing to an increase in number of ultra-wealthy households and fast pace growth of the developing economies.

Category-Wise Insights

Which age group prefers luxury yachts the most.

Millennials are the major drivers of Luxury Yacht demand

Generational trends are a powerful driver. Millennials prefer enjoying the yachting experience a lot differently from the generation X by emphasising more on everything that their self-owned vessels can do instead of being crazy about merely possessing it. They want to create unique experiences for themselves and their family. In the process, millennials have emerged as the major drivers of the Luxury Yacht demand and have slowly redefined the entire yachting industry.

Which Tour Type will have the Maximum Number of Travelers During Forecasted Period?

There will be a surge in the number of independent travellers

Rapid technological advancements in the last few years have made a large number of people quite comfortable with emerging technologies and they are now well equipped to adapt to change. Consequently, this has led to an increase in the number of independent travelers and is forecasted to only increase further.

Which Booking Channel do Tourists in the Market Place Prefer?

Online Booking Channels Lead the Booking Channel Segmentation

It usually takes a lot of time and effort to research and make a decision before purchasing something as luxurious as a yacht. However, the existence of online booking channels has unquestionably both sped up the procedure as well as offered clients access to more choices. People who make their bookings online prefer to compare prices, features, types and various other parameters among all available options to make the best possible choice.

Competitive Landscape

Key Players in the global luxury yacht market are Ferretti Group, Lurssen, Feadship, Princess Yachts, Sunseeker and all these companies dominate the market with a combined market share of about 60%. Additionally, the semi-custom luxury yacht market has seen a surge in demand in recent years which might be due to these categories of yachts offering a good balance of customization and off-the-shelf predictability and simplicity.

Scope of Report

Luxury yatch market by category, by direct suppliers:.

• Hotel Companies
• Tour Operators
• Government Bodies

By Indirect Suppliers:

• OTA (Online Travel Agency)
• Traditional Travel Agencies
• TMC's (Travel Management Companies)

By Number of Bookings:

• Motor Yacht
• Sailing Yacht
• Others (Sports Yacht, Hybrid Yacht)

By Visit Purpose:

By tour type:.

• Independent Traveler
• Package Traveler

By Demographic:

By booking channel:.

• Phone Booking
• Online Booking
• In Person Booking

Frequently Asked Questions

How big is the luxury yacht market.

The luxury yacht market size is valued at US$ 8,812.4 million in 2023.

What is the growth forecast for the luxury yacht market?

The luxury yacht market is projected to thrive at a 9% CAGR through 2033.

How big will be the luxury yacht market by 2033?

The luxury yacht market is predicted to surpass US$ 19,924.7 million by 2033.

Which booking channel is highly preferred in the luxury yacht market?

The online booking channel segment is likely to lead the luxury yacht market.

Which region dominates the luxury yacht market?

Europe dominates the global luxury yacht market.

Table of Content

List of tables, list of charts.

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• Luxury Yacht Market

Luxury Yacht Market Research Report By Size (75-120 feet, 121-250 feet, and Above 250 feet), by Type (Sailing luxury Yacht, Motorized Luxury Yacht and Others), by Material (FRP/Composites, Metal/Alloys, Others), and By Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America) –Market Forecast Till 2032

ID: MRFR/AM/9400-CR | 128 Pages | Author: Sejal Akre | March 2024         

• Segmentation
• Table of Content
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Global Luxury Yacht Market Overview

Luxury Yacht Market Size was valued at USD 6,900.7 million in 2022. The Luxury Yacht Market industry is projected to grow from USD 7,404.4 Million in 2023 to USD 14,199.9 million by 2032, exhibiting a compound annual growth rate (CAGR) of 7.50 % during the forecast period (2023 - 2032).  The luxury yacht refers specifically to the marine industry sector that focuses on buying and selling high-end, lavish, and extravagant yachts. These yachts are typically larger and boast cutting-edge technology, luxurious features, and top-quality finishes. The luxury yacht industry has been on an incredible growth trajectory in recent decades, largely fueled by the increasing wealth of individuals around the world. These magnificent vessels, often likened to floating mansions or palaces, represent the pinnacle of design, technology, and onboard opulence.

As per Analyst at MRFR, “The luxury yacht industry has seen several growth factors in recent years, fueled by rapid urbanization that has boosted disposable income and a booming tourism industry driving demand for experiential luxuries. With rising consumer spending power, these dynamics have expanded the potential customer segment for luxury yachts market.

Figure 1: Luxury Yacht Market Size 2019-2032 (Usd Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

 Luxury Yacht Market Trends

Rising expenditure capacity of the consumers.

The rising expenditure capacity of consumers presents an opportunity in the luxury yacht market. As consumers' wealth and disposable income grow, they have the financial resources to indulge in luxury activities like owning a yacht. This trend opens up a larger pool of customers for luxury yacht manufacturers and sellers. Higher purchasing power makes consumers more likely to buy luxury yachts to showcase their status, prestige, and lavish lifestyle. They can afford the substantial costs associated with yacht ownership, such as the purchase price, upkeep, crew, and other related expenses. The rising expenditure capacity of consumers also allows for the development of cutting-edge and technologically advanced luxury yachts. Manufacturers can invest in research and development to create innovative features, luxurious amenities, and eco-friendly technologies to meet the demands of wealthy consumers.

Additionally, the growth of emerging markets and the global distribution of wealth presents opportunities for luxury yacht companies to expand their business and tap into new markets with an increasing demand for luxury goods and experiences. Overall, the growing expenditure capacity of consumers creates a favorable environment for the luxury yacht market, enabling companies to cater to the desires of affluent individuals and provide them with exclusive and extravagant yachting experiences.

 Luxury Yacht Market Segment Insights

 luxury yacht size insights.

Based on size, the Luxury Yacht Market has been segmented into 75-120 feet, 121-250 feet and Above 250 feet. 121-250 feet would be the majority shareholder in 2022, contributing 47.8 % to the market revenue. Yachts in the 121-250 feet range are luxurious and sophisticated, catering to an elite client. They provide expansive interiors, cutting-edge technology, and the capacity to host larger groups of guests. The major factors driving the growth of the sector include the increasing demand for extended and opulent voyages, corporate yacht charters , and the desire to make a memorable touring event. The customer for these luxury Yatches mainly is from Ultra-high-net-worth individuals and businesses, who are drawn to the allure of these larger yachts, which can offer a range of amenities from gourmet dining options to wellness centers.

 Luxury Yacht Type Insights

Based on type, the Luxury Yacht Market has segmented into sailing luxury yacht, motorized luxury yacht and others. The motorized luxury yacht held the largest market share in 2022, as theses luxury yachts are well-known for their speed, power, and modern design. These yachts are equipped with strong engines that allow them to cruise quickly and efficiently, making them perfect for covering long distances and exploring various destinations. The main reasons behind the popularity of motorized luxury yachts include the desire for convenience and speed, particularly for those who want to make the most of their time on the water and visit multiple places in one journey.

 Luxury Yacht Material Insights

Based on material, the Luxury Yacht Market is segmented into FRP/composites, metal/alloys, others. Fiber-Reinforced Plastics (FRP) and composites held the majority share in 2022. Fiber-Reinforced Plastics (FRP) and composites are materials that are used in yachts. Fiber-Reinforced Plastics (FRP) and composites offer several advantages in yacht construction. The growth of the sub-segment is mainly driven by the advantage it offers. These materials are preferred for their lightweight nature, making yachts more fuel-efficient and easier to handle. Additionally, they provide exceptional strength and durability, offering resistance against impacts and harsh weather conditions that are common in marine environments. One of their key benefits is corrosion resistance, which is crucial in preventing damage caused by saltwater. Moreover, FRP/Composites allow for creative and personalized yacht designs, as they can be molded into intricate shapes. This high strength-to-weight ratio means they are both robust and lightweight.

Figure 2: Luxury Yacht Market, By Material, 2022 Vs 2032 (Usd Million)

Luxury Yacht Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South America. Europe accounted for ~ 46.4 % of Luxury Yacht Market in 2022. Luxury Yachts are becoming more popular in Europe. The luxury yacht market in the Europe region encompasses regions such as UK, Germany, Spain, France, Italy, and Rest of the Europe. According to European Union, the household disposable income per capita in the EU grew in total by 14 % between 2000 and 2009 and by 14 % between 2013 and 2021.The rise in disposable income followed by presence of High-Net-Worth Individuals (HNWI) and the rising adoption of technologically advanced yachts are some of the driving factors of the market. The market is also growing because of the growing tourism industry in the region. With the growing preference for coastal and marine tourism, there has been a rise in investments in luxury yachts.

Asia Pacific is one of the fastest growing markets for Luxury Yacht in the world. The Asia Pacific luxury yacht market is growing rapidly due to several factors. The region has an extensive coastline of over 135,000 kilometres and many picturesque islands, making it an ideal location for maritime enthusiasts. The tourism sector is also driving demand for luxury yachts as travellers seek unique and memorable experiences. The region's rising living standards and growing income levels are further fuelling the demand for luxurious Yachts in the region. China, in particular, has seen a surge in demand for luxury yachts, driven by their utility in hosting business meetings, parties, and various high-profile events. Governments across the region are taking proactive steps to boost the yacht industry, and the demand for luxury yachts continues to rise due to the sizable young population in Asia Pacific showing growing enthusiasm for sailing and maritime activities.

Figure 3: Luxury Yacht Market Size By Region 2022 Vs 2032

Further, the major countries studied in the market report are the U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, China, Japan, and India, UAE, Saudi Arabia, South Africa, Brazil , Argentina and Others.

 Luxury Yacht Key Market Players & Competitive Insights

The Luxury Yacht Market is characterized by the presence of many global, regional, and local vendors. The Luxury Yacht market has witnessed significant growth over the forecast period due to rapid urbanization, along with significant growth in the recreational tourism sector.There are several domestic, regional, and global players operating in the Luxury Yacht market who continuously strive to gain a significant share of the overall market. During the study, MRFR has analyzed some of the major players in the Luxury Yacht market who have contributed to the market growth. During the study, MRFR has analyzed some of the major players in the Luxury Yacht Market who have contributed to the market growth includes Alexander Marine Co Ltd, Damen Shipyards Group, AzimutBenettiS.p.A, Feadship, FERRETTI S.P.A., Horizon Yacht USA, Princess Yachts International plc, Sanlorenzo Spa, Sunseeker International Limited, and Viking Yacht Company among others.

These players focus on expanding and enhancing their product portfolio and services to remain competitive and increase their customer base. Additionally, these players are focusing on partnerships & collaborations to expand their business and customer base to enhance their market position.

Key Companies in the Luxury Yacht Market include.

• Alexander Marine Co Ltd
• Damen Shipyards Group
• FERRETTI S.P.A.
• Horizon Yacht USA
• Princess Yachts International plc
• Sanlorenzo Spa
• Sunseeker International Limited
• Viking Yacht Company

 Luxury Yacht Industry Developments

• In February 2023, Horizon Yachts has introduced the new tri-deck FD100, a customized model. The yacht, featuring five staterooms, emphasizes spaciousness and elegance. The aft deck boasts a large seating area, a bar, and fishing amenities. The interior showcases modern elements, including a dining area and a well-equipped galley. The master stateroom offers ample space, and the lower deck includes three queen-size VIP staterooms and a convertible twin.
• In January 2023, Princess Yachts unveiled the Princess S72, a 23-meter addition to its S-Class line. The interior features a luxurious saloon, four ensuite cabins, and a spacious outdoor area with a dining space, wet bar, and sunbeds. The yacht's garage accommodates a 3.9m tender and two Seabobs, while a separate transom door leads to a twin-berth crew cabin.

Luxury Yacht Market Segmentation:

Luxury yacht size outlook.

• 75-120 feet
• 121-250 feet
• Above 250 feet

Luxury Yacht Type Outlook

• Sailing luxury Yacht
• Motorized Luxury Yacht

Luxury Yacht Material Outlook

• FRP/Composites
• Metal/Alloys

Luxury Yacht Regional Outlook

• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Saudi Arabia
• South Africa
• Rest of MEA
• Rest of South America

Report Scope:

Luxury yacht market highlights:, frequently asked questions (faq) :, how much is the luxury yacht market.

The Luxury Yacht Market size is expected to be valued at USD 6,900.7 Million in 2022.

What is the growth rate of the Luxury Yacht Market?

The global market is projected to grow at a CAGR of 7.5 % during the forecast period, 2023-2032.

Which region held the largest market share in the Luxury Yacht Market?

Europe had the largest share of the global market.

Who are the key players in the Luxury Yacht Market?

The key players in the market are Alexander Marine Co Ltd, Damen Shipyards Group, AzimutBenettiS.p.A, Feadship, FERRETTI S.P.A., Horizon Yacht USA, Princess Yachts International plc, Sanlorenzo Spa, Sunseeker International Limited, and Viking Yacht among others.

Which Type led the Luxury Yacht Market?

The Motorized Luxury Yacht category dominated the market in 2022.

Key Questions Answered

• ✅ Global Market Outlook
• ✅ In-depth analysis of global and regional trends
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• ✅ To identify opportunities in the market.
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Luxury Yacht Market

Luxury yacht market by size (75-120 feet, 121-250 feet, and above 250 feet), by type (sailing luxury yacht, motorized luxury yacht, and others), by material (frp/composites, metal/alloys, and others) - global opportunity analysis and industry forecast, 2020 – 2030.

Industry:   Consumer Goods | Publish Date: Sep 2023 | No of Pages:   N/A | No. Tables:   N/A | No. Figures:   N/A

• Report Description
• Research Scope
• Key Companies

Market Definition

The Global Luxury Yacht Market size was valued at USD 6.58 billion in 2019 and is predicted to reach USD 14.58 billion by 2030, with a CAGR of 7.5% from 2020-2030.

Luxury yacht are sailing or motorized yachts with professionally crewed motor, available for charter as well as private purpose; designed to impart immense luxurious experience and high standard comfort to the consumers. These pleasure vehicles are loaded with luxurious amenities, lavish swimming pools, as well as a variety of gaming, dining, entertainment, and various leisure options.

The usage of composite materials in enhancing the interior aesthetics is gaining momentum in the luxury yacht market due to benefits offered such as low operational cost, enhanced strength to weight characteristics, corrosion resistibility, and higher durability. Moreover, autonomous fuel injection system escalates the efficiency of motor engine and allows engine to operate at variable velocities, reducing vibrations, noise, and emissions.

Market Dynamics and Trends

The global luxury yacht market is proliferating, with growing preferences for luxurious pleasure vehicles offering chartered as well as private services. Furthermore, the increasing trend of spending leisure time on explicit destinations, indulging in racing, cruising and other recreational activities, as well as attractive tourism packages offered by travelling agencies to sustain their market position, are the major factors driving the global luxury yacht market.

In addition to this, appealing interior aesthetics, exclusive services offered by professional crew, lavish accommodations, and enhanced maritime security are the factors anticipated to propel the growth of global luxury yacht market. However, high maintenance cost, dependency on climatic conditions, and stringent environmental regulations are expected to hamper the growth of luxury yacht market.

Moreover, higher standards of living with increasing per capita income, increasing inclination towards the use of composite materials in crafting the interiors rather than using traditional construction materials, advancements in yacht architectures, as well as enhanced tracking and navigation systems, are anticipated to create lucrative opportunities in the global luxury yacht market in coming future.

Market Segmentations and Scope of the Study :

The global luxury yacht market share has been analyzed based on size, type, material, and geography. Based on size, the market is segmented into 75-120 feet, 121-250 feet, and above 250 feet. Based on type, the market is fragmented into sailing luxury yacht, motorized luxury yacht, and others. Based on material, the market is divided into FRP/composites, metal/alloys, and others. Geographic breakdown and analysis of each of the previously mentioned segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

Europe has been dominating the global luxury yacht market in the recent past and is expected to maintain its dominance throughout the forecast period, owing to increased investments in costal as well as recreational activities, growing trend of water sports and fishing activities in this region. Moreover, well-established tourism industry, presence of attractive destinations, and increasing number of trade shows hosted by key manufacturers present in this region, are further expected to propel the growth of luxury yacht market.

Asia-Pacific region is expected to demonstrate a substantial growth in the global luxury yacht market throughout the forecast period, witnessing the highest CAGR values. This is due to favourable government policies promoting tourism, increasing standards of livings due to growing per capita incomes, and augmentation in marine recreational activities.

Competitive Landscape

The luxury yacht market, which is highly competitive, consists of various market players. Some of the major market players include Damen Shipyards Group, Alexander Marine Co Ltd, Azimut Benetti S.p.A., FERRETTI S.P.A., Feadship, Princess Yachts International plc, Horizon Yacht USA, Sunseeker International Limited, Viking Yacht Company and Sanlorenzo Spa among others. With the development and deployment of advanced products, and launch of new product technologies equipped with up-to-date features, market players are undergoing various business strategies to sustain their position in the global luxury yacht market.

For instance, Horizon Yacht USA, one of the leading companies in the luxury yacht market, launched its six new yachts at the Biennial Horizon Open House Event held in January 2020, at the company’s facilities in Kaohsiung, Taiwan. Horizon’s new FD75 & FD102 models made their international debuts at this remarkable showcase.

In February 2020, Sunseeker USA Sales Co. Inc., one of the key players in the luxury yacht market, introduced its sunseeker line-up, an exclusive range of luxury motor yachts for the Miami Yacht Show 2020. Along with the US debut of Manhattan 68, five more exquisite Sunseeker models glided their way into stealing the show.

In March 2020, DAMEN, the very well-known company in luxury yacht market, launched its 55-meter yacht support vessel named ‘Blue Ocean.’ This multipurpose yacht support vessel with 4-cabin layout is the first-ever yacht support built with a huge multipurpose main deck hangar, that is configured for a blend of adventure activities and superyacht support functions.

In May 2020, Ferretti Group, one of the key players in the luxury yacht market, announced a $15 million investment for purchasing a service shipyard in Fort Lauderdale, Florida, with an aim to consolidates its presence in the USA. The 4,000 square meters facility comprises of five docks and a combination of indoor and open-air spaces facilitating marine services and deliveries.

KEY BENEFITS

The luxury yacht market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.

The study comprises a deep dive analysis of the luxury yacht market trend including the current and future trends for depicting the prevalent investment pockets in the market.

The report provides detailed information related to key drivers, restraints and opportunities and their impact on the luxury yacht market.

The report incorporates competitive analysis of the market players along with their market share in the global luxury yacht market.

The SWOT analysis and Porters Five Forces model is elaborated in the study of the luxury yacht market.

Value chain analysis in the luxury yacht market study provides a clear picture of the stakeholders’ roles.

KEY MARKET SEGMENTS :

75-120 Feet

121-250 Feet

Above 250 Feet

Sailing Luxury Yacht

Motorized Luxury Yacht

By Material

FRP/Composites

Metal/Alloys

By Geography

North America

Netherlands

Rest of Europe

Asia-Pacific

South Korea

Rest of Asia Pacific

Latin America

Middle East 

REPORT SCOPE AND SEGMENTATION:

KEY PLAYERS:

• Damen Shipyards Group
• Alexander Marine Co Ltd
• Azimut Benetti S.p.A.
• FERRETTI S.P.A.
• Princess Yachts International plc
• Horizon Yacht USA
• Sunseeker International Limited
• Viking Yacht Company
• Sanlorenzo Spa

Frequently Asked Questions

According to the report published by Next Move Strategy Consulting, the luxury yacht market business is expected to hit at $14.58 billion (USD) by 2030.

Europe is expected to hold the highest market share in the global market. The region is expected to witness remarkable growth as it houses the major key players in the market.

Damen Shipyards Group, Alexander Marine Co Ltd, Azimut Benetti S.p.A., FERRETTI S.P.A., Feadship, Princess Yachts International plc, Horizon Yacht USA, Sunseeker International Limited, Viking Yacht Company and Sanlorenzo Spa.

The global luxury yacht market share has been analyzed based on size, type, material, and geography.

Currently (in 2019), the market value stands at USD 6.58 billion and it is anticipated to reach USD 14.58 billion by 2030.

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Luxury Yacht Market by Type, Application and Geography - Forecast and Analysis 2023-2027

• Published: Nov 2022
• SKU: IRTNTR40515

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Luxury Yacht Market Forecast 2023-2027

The luxury yacht market is estimated to grow by 366 thousand units  at a CAGR of 11.26% between 2022 and 2027. The increase in recreational tourism is driving demand for luxury travel experiences and accommodations. Digital marketing and increasing social media use are enabling luxury brands to reach a wider audience and engage with consumers in new ways. The increase in the high net worth individual (HNWI) population is leading to higher spending on luxury goods and services. Overall, these factors are contributing to the growth of the luxury market. Tourism holds pivotal importance as a global economic activity, contributing substantially to the economic development, employment generation, and social progress of numerous nations. Its impact reverberates significantly in the market, particularly through various avenues such as commercial yacht operators, fleet operators, yacht brokers and brands, yacht ownership and prices, yacht auctions, and rentals.

What will be the size of the Luxury Yacht Market During the Forecast Period?

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Market Segmentation

This report extensively covers market segmentation by type (sail yachts and motor yachts), application (commercial and private), and geography (Europe, APAC, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

The market share growth by the sail yachts segment will be significant during the forecast period. Luxury sail yachts are 80' or longer (up to 230' long). Though they have auxiliary engine power, they use sails as the primary means of propulsion. Factors such as the absence of a large engine, increased automation employed in production, and the introduction of fiberglass hulls, keep the prices of luxury sail yachts lower than luxury motor yachts.

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The sail yachts segment  showed a gradual increase in the market share of 195 thousand units  in 2017 .  Luxury sail yachts feature all possible modern conveniences, such as ACs, television, navigation aids, radar, echo-sounding, autopilot, computer-controlled electric winches for controlling the sails, and a reliable power-generating system. These are exclusively used for leisure purposes. Furthermore, our report provides a brief analysis of historical and forecast market share and their segment, along with their reasons for growth from 2017 to 2027. The growth of this segment is primarily attributed to the increasing adoption of the Market by residential consumers, which is driven by an increase in global demand.

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Europe  is projected to contribute 31% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Europe has been the dominant region for luxury goods, with an estimated share of over 40% of the global luxury goods market. The region also continues to dominate the global market in terms of luxury goods manufacturing, with France and Italy as the key production powerhouses and Portugal as an upcoming manufacturing hub for luxury goods. In the case of the market, Europe has one of the largest and most attractive ports.

Market Dynamics and Customer Landscape

The market offers exquisite yacht interiors, amenities, and features that define a lavish yacht lifestyle. From exclusive yacht clubs to extravagant yacht parties and events, these vessels cater to the elite seeking premium experiences. Yacht brokers assist in the acquisition of top luxury yacht brands , and services such as yacht rentals, insurance, maintenance, and refurbishment ensure the continued opulence of these vessels. Yacht customization allows owners to personalize their yachts, while a range of yacht accessories and advanced yacht navigation systems enhance the onboard experience. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The increase in recreational tourism is the key factor driving the market growth. Tourism is a crucial economic activity globally, contributing significantly to the economic growth, job creation, and social advancement of many nations. It also has a notable impact on the market, particularly through commercial yacht operators and fleet operators, as well as yacht brokers , luxury yacht brands, yacht ownership, luxury yacht prices , yacht auctions, and luxury yacht rentals . Countries like Greece, Spain, France, and Italy, with their picturesque landscapes, are popular destinations for tourists, particularly the affluent segment. These countries also attract business events and meetings, where luxury yachts are chartered from fleet operators.

Europe stands out as a major hub for yachting, with the Port of Rotterdam in the Netherlands serving as Europe's largest yacht port, hosting around 77 luxury yachts for high-end tourism. The growth in tourism and recreational activities is expected to be a significant driver for the market in the coming years.

Major Market Trend

The use of advanced materials will fuel the market growth. Most traditional yachts are built using either steel or aluminum, which makes the yachts heavy and reduces their fuel economy. Although steel and aluminum are less expensive than alternative materials, such as glass fiber reinforced materials or pure carbon fiber, yacht makers realize the overall benefits of using carbon fiber in the construction of the boat. Carbon fiber extensively reduces the yacht's weight, which makes the yacht fast and fuel-efficient. This cost-saving from improved fuel economy offsets the additional manufacturing cost incurred by using carbon fiber. Also, carbon fiber provides additional strength and durability to the boat's dynamics, which enables it to withstand harsh conditions in the seas.

Carbon-fiber-based composite is a heavy-duty, military-grade, lightweight material . Due to this, it is a widely used material in yacht manufacturing. The carbon-fiber-based boat draws about 7.7' water as compared to aluminum-based boats that draw about 9'-10' water, which means this boat can easily sail in deep or shallow waters. So growing use of advanced materials in yacht making is fueling the market in focus during the forecast period.

Significant  Market Challenge

The high cost of operations is a major challenge to global market growth. Motor types have every modern convenience installed onboard, such as ACs, television, navigation aids, radar, echo-sounding, and autopilot. To power all these amenities, luxury yachts require a reliable power-generating system. Thus, these yachts use gasoline or diesel-powered internal combustion engine ICEs to sail along with powering these modern conveniences and charging onboard batteries. As these yachts need to run at speeds up to 70 knots, the ICEs that are needed to power the amenities and run the yachts are huge and have high fuel requirements. However, any potential customer can avail of the booking facility through a third-party broker instead of the central agent, where both brokers share commissions.

In one way, such arrangements allow potential clients to avail or access a wide range of information on fleet booking and thereby select a suitable booking option based on their comfort. However, due to the involvement of multiple participants, both the operational cost and complexities in availing services augment further. Thus, the high cost of operations hinders the market growth during the forecast period.

Key Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Luxury Yacht Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

oceanalexander.com -  The company offers luxury yachts such as Divergence, Revolution, and Explorer. Also, the company offers a yacht series designed by Evan Marshall and Arrabito Naval Architects, which offers unwavering safety, luxurious spaces, and sleek design.

The report also includes detailed analyses of the competitive landscape of the market and information about 120 market companies, including:

• Alexander Marine International
• Azimut Benetti SpA
• Christensen Shipyards LLC
• Damen Shipyards Group
• Feadship Holland BV
• FERRETTI SpA
• Fincantieri Spa
• Fr. Lurssen Werft GmbH
• Gruppo Fipa Srl
• Heesen Yachts Sales BV
• Horizon Yacht USA
• Nobiskrug Yachts GmbH
• Overmarine Group Spa
• Palmer Johnson
• Palumbo Group Spa
• Perini Navi Spa
• Sanlorenzo Spa
• Viking Yacht Co.
• Westport Yachts

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

You may be interested in the regional reports:

Europe Luxury Yacht market  - The market witnessed sales of 412 luxury yachts in 2014, and the European market emerging as its largest contributor with revenues close to USD 2 billion. 

• Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Type (Sail yachts and Motor yachts), Application (Commercial and Private), and Geography (Europe, APAC, North America, South America, and Middle East and Africa).

• Sail yachts
• Motor yachts
• Rest of Europe
• Saudi Arabia
• South Africa
• Rest of the Middle East & Africa

Market Analyst Overview

The market encompasses a range of high-end offerings, from superyachts to mega yachts. Buyers can choose between luxury yacht sales or opt for luxury boat rentals and luxury yacht charters for more temporary enjoyment. These vessels often boast luxury yacht amenities and luxury yacht features designed to provide a lavish Luxury yacht lifestyle. The market is supported by luxury yacht builders who specialize in luxury yacht design and construction. Despite its exclusivity, the market faces luxury yacht market challenges such as yacht maintenance and yacht refurbishment. However, with the right yacht insurance and yacht technology, the luxury yacht market continues to grow, offering unique yacht events and luxury yacht vacations to affluent consumers.

The market is a dynamic sector that continues to evolve with new yacht propulsion technologies and innovative yacht construction techniques. Luxury yacht market analysis reveals trends indicating steady Luxury yacht market growth and a positive Luxury yacht market outlook . The market is driven by various Luxury yacht market dynamics, including consumer demand for unique experiences and the allure of luxury lifestyles. As the market expands, luxury yacht market segmentation becomes more refined, catering to niche markets. This competitiveness drives luxury yacht market competition, prompting companies to seek new luxury yacht market opportunities and luxury yacht market trends for growth and differentiation.

The market is driven by a passion for recreational and leisure activities and the desire for livability on the seas. These yachts, often made from fiber reinforced polymers or metal/alloys, boast impressive lengths and innovative technological innovations to enhance the onboard experience. They offer a luxurious lifestyle, attracting buyers from the affluent segments of society. Key considerations for buyers include fuel consumption , s tiffness, and corrosion resistance. Despite the allure of these vessels, the market faces challenges from the threat of substitutes and the threat of new entrants, alongside the bargaining power of buyers seeking the ultimate sailing luxury yacht experience.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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Frequently Asked Questions?

What is the study period of luxury yacht market , which region is expected to show the highest market share in the luxury yacht market , what are the major market players covered in the report , what is the current size of the luxury yacht market .

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• Luxury Yacht Market Trends

Statistics for the 2023 & 2024 Luxury Yacht market trends, created by Mordor Intelligence™ Industry Reports. Luxury Yacht trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of Luxury Yacht Industry

Increase in number of billionaires driving the demand.

• The target audience for the luxury yacht market is the ultra-rich individuals. The increasing number of high-net-worth individuals is expected to drive the market growth. According to Forbes, the United States recorded the highest no of billionaires at 735, followed by China at 495. Moreover, the total number of billionaires has increased from 102 in 2020 to 166 in 2022 in India, and the wealth of India's richest billionaires increased by an average of 46% in 2022.
• According to the Bloomberg Billionaires Index, around 131 billionaires doubled their net worth during the pandemic. Additionally, the maximum number of ultra-high net worth individuals resided in the North American regions, and Europe is considered to be the fastest growing. Hence, with the global GDP on the rise and more billionaires stepping up, the luxury yacht market is expected to see a rise in the forecast period.
• Moreover, celebrities, CEOs, and business tycoons are the primary customers of the luxury yacht market; many of them are investing in luxury yachts for recreational use. For instance, in June 2023, Billionaire Eric Schmidt won the auction to buy a luxury Superyacht, which also contains a helipad valued at USD 68 million.
• The increase in the number of billionaires every year, coupled with an increase in wealth, which results in high purchasing power, will fuel the growth of the market.

Europe is Expected to be the Market Leader

• Europe is among the countries with one of the highest shares of billionaires globally and is considered to be the fastest growing in terms of billionaire's wealth. Scenic beauty countries like Greece and Italy are expected to be the market leader during the forecast period. A large number of tourists come to the region, and many parties are also organized on private yachts. Government initiatives to boost tourism in the region are the major factors for growth in the market.
• For instance, in December 2022, the European Union Council approved the European Agenda for Tourism 2030 to make European tourism more digital and greener. Sales of Yachts in 2021 were high, and a rise in demand made it hold a new record for yachts in 2022, as 606 yachts were introduced in the market. Moreover, countries such as Greece, Croatia, Spain, Italy, and France are top tourist destinations, with the rise in fishing activities and water sports being the major driving factors.
• In the last five years, European customers (Eastern, Southern, and Western Europe, as well as Scandinavia) have purchased nearly 40% of all new 40-meter builds globally. Furthermore, 15% of the new 40-meter yachts manufactured remained unsold until the first quarter of 2022. Implying that Europe owns a sizable portion of the market.
• Due to the rising trend of owing yachts among the ultra-rich, the European region is expected to witness significant growth in the forecast period.

Luxury Yacht Market Report Snapshots

• Luxury Yacht Market Size
• Luxury Yacht Market Share
• Luxury Yacht Companies

Luxury Yacht Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

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Luxury yacht market size worldwide 2019-2030

Size of the global luxury yacht market in 2019 and 2020, with a forecast for 2021 through 2030 (in billion u.s. dollars).

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2019 and 2020

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Concert promoter Live Nation is getting into the ultra-luxury cruise business — see what it'll be like on weeklong superyacht sailings starting at $3,000 a person

• Live Nation's Vibee is getting into the ultra-luxury cruise business.
• The music event curator says it'll charter two superyachts for three weeklong Croatia cruises this summer.
• Like other vacation operators, Vibee says it's seen increasing demand for cruise and yacht-based trips.

Forget concerts — Live Nation wants music fans to start going on yacht vacations .

In 2023 and amid a boom in experiential travel , the entertainment company established Vibee, a music-based event curation arm. Less than a year later, Vibee has already executed affairs like a weekend Bahamas getaway headlined by singer Lionel Richie and a three-day Cabo San Lucas, Mexico party featuring DJ Tiësto.

Now, it's moving off-land and to the high seas with its new segment: Vibee Yacht Club.

This summer, Vibee says it'll charter two superyachts for three weeklong Croatia itineraries that are set to be, of course, centered on music.

Vibee is capitalizing on yet another increasingly popular concept: themed cruises.

Themed cruises can vary vastly, from Star Trek-centered sailings to itineraries helmed by famous comedians. And as of late, many of these niche voyages have been selling out faster than ever before.

Themed cruise operator Sixthman's November 2023 hip-hop itinerary sold out in less than five days with no publicly announced lineup.

Similarly, Vibee's first cruise, the 2023 EDSea — a wordplay on the electronic dance music festival Electric Daisy Carnival, or EDC — was fully booked in three days, again with an undisclosed lineup.

Armed with EDSea’s success, Vibee wants to dive deeper into the cruise segment — this time with a luxurious spin.

"We see the desire for cruise and yacht experiences continuing to rise," Harvey Cohen, president of Vibee, told Business Insider, echoing sentiments of the cruise industry's booming demand.

And not just the mass-market players: Over the last year, luxury cruise lines have also seen a rise in interest.

In its fourth-quarter earnings report from February 2024, Norwegian Cruise Line Holdings said its two high-end brands, Oceania and Regent Seven Seas, had both seen "strong demand."

The latter had launched its latest $517.9 million luxury ship a few months prior, complete with caviar and a $6 million art collection.

Luxury cruises and superyachts aren’t known to be super-affordable.

Vibee says it's chartering the 141-foot-long Lupus Mare and nearly 161-foot-long Prestige for its three yacht sailings.

Vibee Yacht Club's cheapest option starts at $3,100 per person for a two-person cabin. Comparatively, EDSea's 2024 itinerary starts at $1,405 per person for a double occupancy interior cabin.

Yet, it could be a bargain for some superyacht fans: Weeklong charters for Lupus Mare start at about $71,000 a week, according to YachtCharterFleet.

Everything is better on a yacht. Champagne? Tastes better on a yacht. Cruises in general? Better on a yacht.

Going to an international music festival? Well, Vibee thinks it would be better to stay on a yacht than in a hotel.

On July 13, the first itinerary would start on day two of Ultra Europe, a popular three-day electronic dance music festival in Split, Croatia.

Following the event, the two yachts would sail to three Croatian islands before concluding in Hvar, Croatia. Along the way, the itinerary would include daytime swims, a sunset winery visit, and several parties (day and night).

Unsurprisingly, Vibee expects the itinerary to draw in younger travelers, specifically Gen Zers and millennials.

Lupus Mare is set to be chartered for two more itineraries: “Rock the Med” and “Marafiki on the Adriatic.”

A three-person cabin for both starts at $3,500 per person.

On Rock the Med, the week is set to begin with VIP tickets to a Lenny Kravitz show at the historic Pula Arena.

Afterward, it would sail to Croatian destinations with an itinerary that would include beach excursions and clubs.

Marafiki on the Adriatic isn’t centered on a single music event.

Instead, the roundtrip Split itinerary would feature on-board musical performances, daily yoga, "cultural outings," and, of course, beach clubs.

A bonus trip to Sonus Festival, a five-day rave, is an optional add-on.

Like a typical luxury cruise, travelers would have preorganized water taxis, chefs to prepare daily breakfasts and lunches, and all the yacht amenities.

The 20-cabin, 40-guest Prestige flexes indulgences like an indoor lounge, a hot tub, and a sundeck with plenty of beds.

Meanwhile, the 15-cabin, 34-guest Lupus Mare has comforts like a sauna and gym.

Travelers could wind down in the yacht's movie theater or hot tub. Or, they could take a slide into the water.

It’s no surprise Vibee is going the more sumptuous route with its itinerary-focused yacht concept.

" Revenge travel " might as well be known as "regular travel" at this point: People have continued to spend big on extravagant vacations, especially on luxury small cruise ships and trips planned around experiences and adventures.

Both are niches Vibee is trying to carve out for itself: Looking ahead, the new brand is already planning more music and sea-based vacations, Cohen told Business Insider.

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118 wallypower yacht

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Iconic yachts: 118 WallyPower

The 118 WallyPower remains as striking today as when it was first launched in August 2003. The futuristic lines are reminiscent of a Stealth bomber, and it’s easy to imagine Darth Vader at the controls, skimming over the waves. This boat still generates discussion, still turns heads, still mesmerises.

Luca Bassani , founder of Wally, is so in love with the 118 WallyPower that once a year he goes out on the tender, switches off the engine and instructs the crew to surge past him at top speed. ‘The motion is not actually the speed; the motion is first of all the shape of the boat and the fact that you don’t hear anything. It’s just this great, beautiful sheet passing by at high speed with the only sound a light whistle.’ He makes a hissing sound between his teeth and laughs. ‘Another thing I like is that from the outside, when the boat is anchored in a bay, you really don’t see it… the sage colour blends and changes with the colour of the coast, the rocks and the green of the water.’

Bassani took the plunge from sailboat to motor yacht design when he noticed a 15 to 20 per cent increase in the open power boat market over ten years. The 118 WallyPower took four years to develop. He had a client in mind but no contract, but this was enough to give him the impetus to move forward without the constraints of working within a client’s needs. The objective was to create a very fast boat perfect for short Mediterranean day cruises and able to maintain high speeds even in rough seas. The solution was a deep V hull which, with the shape of the bow and the use of interceptors, allows the boat to pierce the waves comfortably, even at high speeds. ‘Extensive research and tank testing resulted in a hull design different and better than any other,’ he claims. ‘Like our sailboats, the design is an evolution of all our experience. For us the ride of the hull is the key to our sales.’

The new hull design will be used for all the range, starting with the tender. ‘It is really fantastic. If weather conditions allow, you would rather cruise at 60 knots, but in reasonable conditions, at 40 knots you can do all the missions you have to do.’

After the hull, Bassani is most satisfied with the forward ‘liveable’ cockpit of the 118 WallyPower. ‘When I say liveable I’m talking about quality of life aboard. This foredeck feels as if you are on a sailboat, not a power boat, which I like a lot.’ He is also pleased with the water jet propulsion: ‘The noise is very low – no vibration, fantastic manoeuvrability, no problem with draught. We see only advantages.’ And he believes carbon fibre is essential for cutting through the waves: ‘You need a very rigid, light hull. You don’t use carbon fibre for the bottom of the hull because it would become too brittle, but the structure inside has to be carbon.’

The 118 WallyPower’s gas turbines deliver 17,000hp, and diesel is used for manoeuvring and cruising at night at up to 10 knots. ‘With the two diesels you have a great range – 1,800 miles – while if you went with the gas turbines at 40 to 60 knots the range is 400 to 500 miles, no more.’ This brings up the subject of sustainable power: ‘We are studying a new concept that will substantially improve the sustainability of powerboats,’ says Bassani.

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118 WallyPower, a stealthy superyacht for billionaire owners..

The 118 WallyPower is a 36 m superyacht built by the famous Wally shipyard in the 2000s. With its futuristic military inspired look and its 3 large gas turbines, she was a UFO when she was launched.

A futuristic construction

The 118 WallyPower is the largest motor yacht produced by the famous Monegasque shipyard Wally Yachts . It was built in the early 2000's according to the drawings of Luca Bassani for a client who wanted a motor yacht inspired by the 27 m sloop built by the shipyard and with the Argentinean naval architect Frers, called Tiketitan.

Luca Bassani Antivari, founder of Wally and an accomplished former sailor is passionate about sailing. But through this project of a 36 m superyacht, he will launch the Wallytender, then the 118 WallyPower.

Its angular lines associated with the glass superstructure are reminiscent of a stealth ship. The result is a sense of power and speed . In fact, Wally's founder describes it as ".. a stealth bomber with a sailboat bow, Formula One-style air intakes and a stripped-down Asian-inspired interior design."

An exceptional motorization

The engines - i.e. 3 gas turbines of 5?600 CH each - develop a total of 16?800 CH (12?500 kW). They power a Rolls-Royce Kamewa jet-type transmission consisting of 2 steerable side jets and a fixed central jet. Two 370 HP (280 kW) Cummins diesel engines can take over from the turbines. In the first configuration, the 118 WallyPower will reach more than 60 knots (110 km/h), but only 9 knots in the second version, which will be preferred for long distance manoeuvres.

State-of-the-art construction

The hull of the 118 WallyPower is the result of an extensive research and development program that included tests in the hull tank in Gothenburg, Sweden and in the wind tunnel at Ferrari in Maranello, Italy . Stability at high speed is guaranteed by a deep V-shaped hull (22° degrees) and a wave piercing straight bow. The air intakes of the gas turbines have been optimized to minimize vibration and exhaust backflow on deck and into the hull. The hull conceals a tender garage.

The bottom of the hull is constructed of monolithic fibreglass. The dead works with a hybrid of balsa sandwich and fiberglass/carbon. The deck is made of Nomex (Kevlar honeycomb)/carbon. The superstructure of the deck is made of a carbon frame on which glass panels are glued. Inside, part of the interior layout is made of carbon to reduce weight. The dark green metallic paint changes with the reflections of the changing lights and landscape. On the deck, in the cockpit, the bulwarks tilt to enjoy an incredible view of the sea from the saloon but also to take advantage of the large outside space.

A luxurious and uncluttered layout

Inside, on the main deck, the open space offers 3 distinct areas, from bow to stern: the helm station, the raised dining/meeting area and the large saloon below, which opens onto the outside without a break in continuity, introducing the concept of the inside-outside living area. A 360° view is available from the dining area thanks to the raised floor. Under the dining table - which seats 8 people - long rectangular glazing brings light to the lower floor. This keeps the dining area at the front away from the heat of the engines. The boat also has 6 plasma screen televisions.

Below deck, the owner's cabin is located forward and has a deck porthole for light. There is a large double bed, a private bathroom and a large dressing room. Two guest cabins have a queen-size bed, a dressing room and a bathroom.

The kitchen (with the pantry) includes an oven, stove, television and several refrigerators.

A millionaire's boat

The price of the 118 Wallypower is $33 million for the triple gas turbine version, or $22 million for the dual diesel engines. Its range is 1800 miles at 9 knots or 300 miles at 60 knots. Finally, its fuel tank has a capacity of 22 tons.

At the maximum speed of 60 knots, the gas turbine uses 58 litres of fuel per mile, or 3?500 litres per hour. For example, to travel from Cannes to Saint-Tropez and back at 50 knots, it takes 90 minutes for 6?000 to get from Cannes to Saint-Tropez and back, using dépensé?! The WallyPower 118 weighs 95 tons and can accommodate 6 crew members and 6 guests on board.

Prestigious awards

The 118 WallyPower won the MYDA, Millennium Yacht Design Award, organised by Seatec (the Carrarafiere sailing and navigation technology trade fair) for "Design for the third millennium". It was the only boat in the architecture and design exhibition of the Museum of Modern Art in San Francisco in 2004/2005), for the exhibition "Glamour : Fabricating Affluence".

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World’s coolest boats: Wallypower 118 looks like Darth Vader’s superyacht

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Each month we pick out an iconic boat that can lay claim to the title of world’s coolest boat. This month, we take a closer look at the 118 Wallypower.

Michael Bay’s 2005 sci-fi thriller movie The Island was about a group of people isolated in a compound, they’re told, due to nuclear fallout.

As the film progresses, we learn that these people are in fact clones of wealthy individuals, created for organ-harvesting should it ever be needed.

Because they are clones, they experience dreams based on lives they have not lived. One of them is a clone of a famous yacht designer, and so his dreams are of superyachts .

The studio needed the most dramatic, the most outstanding, the most iconic superyacht on the water to illustrate this, and so, of course, they chose the Wallypower 118.

Article continues below…

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The brainchild of Luca Bassani, heir to a Milanese lighting fortune and owner of Monaco-based Wally Yachts , it was the first foray into large motor yachts for his yard, noted up until then for building edgy sailboat designs and being named after the Hanna-Barbera cartoon character, Wally Gator (a favourite of his young son).

The most outstanding feature of this sensational beast is the styling. At 118ft long and completely unique, it appears to have been constructed using origami. The hull is carbon fibre and GRP composite, and the superstructure is triple-laminated tinted glass on a carbon frame.

And if that’s not wacky enough, everything on the exterior of the yacht, from the cleats to the tables to the seating, is concealed – rising out of the deck when required. If Darth Vader had a superyacht, it would look like this.

Movie-star styling and minimal-luxe interiors combine to create the ultimate superyacht

Such an outstanding design deserves supreme performance, so the pair of 370hp diesel engines, producing a top speed of 9 knots, appears initially underwhelming. But fear not, these are merely an amuse-bouche, fitted only to manoeuvre the boat out of the harbour.

Once at sea the captain is free to light up the three Vericor TF50 gas turbines, unleashing over 16,800hp through three water jets (two steerable, one fixed) and propelling this incredible machine past 60 knots, according to the manufacturer.

Although conceived as a production yacht, reportedly only one was ever built. The price at the time? An impressive £17 million.

118 Wallypower specifications

Year: 2004 LOA: 118ft 1in (36.0m) Beam: 29ft 6in (9.0m) Power: 16,800hp Top speed: 65 knots Price: £17 million Cool rating: Absolute zero (-273° C)

To submit your suggestion for the world’s coolest boat, head over to the MBY forum .

Revealed: The true cost of running a $3 million superyacht

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Wallypower 118

• By Dennis Caprio
• Updated: October 4, 2007

If Wallygator , the first of Luca Bassani’s brainchildren, was a breath of fresh air when it appeared on the sailing scene in the waning years of the last century, the Wallypower 118 motoryacht is a full gale. On the outside, she combines elements of Marcello Gandini’s masterpiece Lamborghini Countach of the middle 1980s and the U.S. Air Force Stealth Fighter. On the inside, she reinforces Bassani’s predilection for simple, open spaces defined by areas of use, instead of bulkheads. Bassani, il padrone of Wally Yachts, didn’t design the 118, but his signature is all over it.

Like the Countach and the Stealth Fighter, this 118-foot speedster is a riot of hard edges, straight lines and serious functionality. Her extraordinary elegance and simplicity suggest a child of 10 could have produced her topsides and house, but these elements are the work of modern artists set free from the shackles of traditional thinking about how boats should look.

As far as I can tell from the drawings, only one of the design elements above the waterline exists purely for its own sake. Everything else serves a purpose. The sheerline in profile is reversed, higher amidships than at either end. This is typical of high-performance boats and had its origin in an attempt to make the topsides aerodynamic. The Wally’s recessed deck kills that theory, so we have to regard the reverse sheer as a styling exercise that places the 118 in the high-performance category.

We could easily dismiss the prominent side pods as a gimmick, mostly because we’re so used to seeing fake scoops and vents on modern automobiles and boats. These, however, are real. They draw, via the forward opening, mega-volumes of fresh air to the gas turbine engines, and they house the exhaust system. The top section of each pod (above deck height) hinges outboard to become a teak-paved boarding platform served by a ladder/gangplank that appears to slide out of the pod.

As a styling device, the side pods, combined with the rise of the chine from amidships forward, carve the massive topsides area into manageable sections, letting us process her statement at our leisure instead of forcing us to absorb the whole in one glance. The design team’s confidence in the 118’s dramatic statement is illustrated by the choice of color. The designers rendered her in titanium gray on the topsides and charcoal gray for the house, proudly showing exactly how this sculpture defines itself in shadows and highlights. She may be the only large powerboat in the hyper-performance class that doesn’t need “oh boy” murals on her topsides.

Flat planes at various angles to one another form a deckhouse that reminds me of the Stealth Fighter. Claudio Lazzarini, of the Lazzarini & Pickering design firm, calls it a crystal prism. The entire structure is made of flat transparent panels-flat to permit the use of power-operated doors and windows, and to prevent the distorted view that often comes with transparent curvatures. This crystal prism, the designers said, creates in the saloon the relaxed atmosphere of a cockpit. Tinting the structure filters ultraviolet rays, keeps the interior from being too bright and too hot, and contributes to the yacht’s purposeful look. Decks of natural-finish teak color-a touch of the early 20th century on an otherwise futuristic concept-ease the extreme tension generated by her sharp edges and no-nonsense demeanor.

Teak planes, vertical and horizontal, inside the crystal prism divide the area into a landscape of functions, or islands in a sea of teak. Right abaft the helm, a sliding teak table seats 14 adults in a formal or a casual setting. Among the many islands, one contains a single seat for reading or working at a computer housed in a nearby cabinet. Beneath this chair is a small, drawer-style refrigerator most people would stock with mineral water, soft drinks and beer. Another island lets you stretch out to watch the TV perched atop an end table, which also contains a stereo.

“The navigation area,” Carl Pickering said, “is more similar to a flight deck than its usual nautical equivalent and can be used as an office or dining area, thanks to sliding tables.”

Lazzarini & Pickering continue the system of teak planes belowdecks to create the corridors and staterooms, though details about the area weren’t available. Outside, the teak theme appears in the after cockpit and a playpen on the foredeck. Here, we find picnic tables that retract flush with the deck, forming a sunbathing area.

The 118’s hull is narrow monohull with training wheels. It has its roots in high-speed naval craft and, as far as I can determine from the renderings, marries an extremely fine entry to an inverted W-shape planing surface. The design team volunteered only that the bow sections reduce vertical accelerations by 50 percent. This means a relatively smooth ride in a seaway. Her fine entry will split the waves, but the bow sections will gain buoyancy as the high chines dig into the water. By this time, most of the energy will have dissipated, so the crew won’t get slammed into the cabin sole. If I were drawing this bottom, I’d make the chine area a tunnel of something close to a semicircle. Ridding the bottom of flat surfaces reduces pounding. On the other hand, a flat surface at the planing area, which won’t leave the water, creates lift, so let’s look for a delta-shape flat way back aft.

Wally expects a top speed of 70 knots from the 118’s four engines-a pair of gas turbines and two diesel auxiliaries-turning two KaMeWa waterjets. I call the diesels auxiliaries because the helmsman will use them for low-speed maneuvering, turbines disengaged, and cruising at very low speeds. Each turbine/diesel duet couples to a clutched transfer box, which permits running one or both engines each side. This, too, is common on military craft.

If my assumptions about the bottom are skewed, I’ll be the first to admit it, but we’ll have to wait until hull number one splashes or I see her under construction. I do know the shape benefits from extensive tank testing.

Wally expects to launch hulls one and two during 2002. Right now, though, I think the Wallypower 118 is the most significant design of the past 14 years, the period I’ve devoted to studying how boats work and why. Like all brilliant works of art, functional or decorative, the 118 defies a simple interpretation. Her statement is far too powerful to permit any observer to settle on a middle ground. They’ll love her or hate her.

Let me be the first to say, “I love this design.”

Contact: Wally Yachts, (011) 377 93 1000 93; fax (011) 377 93 1000 94; [email protected] ; www.wallyyachts.com .

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Motor Yacht

Luxury motor yacht Wallypower 118 was built in 2002 by Italian shipyard Rodriquez Intermarine. With a composite hull and superstructure, she features naval architecture by Wally and Intermarine, and exterior and interior design by Lazzarini Pickering and Wally. This three waterjet and twin screw propulsion yacht measures 36 metres and can accommodate up to six guests cruising and sleeping.

Motor yacht Wallypower 118 is easily one of the most distinctive vessels on the water with her unique and striking exterior design. Capable of reaching high cruising speeds, her design was the result of extensive development and research that included exhausting testing. She has a steeply angled V-shaped and a stand-out deckhouse that crowns the super yacht.

Her hull colour can be likened to that of a chameleon; it’s dark green tone changes with alterations in the outside landscape and light. Her glass-sided deckhouse hides a generous saloon aft dressed in white and wood that creates somewhat of a beach house feel. Here also lies a dining table for 14, relaxing nooks and entertainment areas.

Her interior is of minimalist design, and instead of showy extras, the majority of her features serve a purpose; towards weight minimisation, speed enhancement or must-have comfort. However she also boasts her share of soft furnishings that give the interior a look not far from a New York style loft.

Amongst her three cabins are an indulgent owner’s stateroom, and two Queen-size guest cabins. The owner’s stateroom features an en suite with his and hers shower and large tub, while each guest cabin also features an en suite. The crew’s quarters on the lower deck includes three lower cabins that sleep six and include en suite facilities.

Luxury yacht Wallypower 118 is powered by three DDC TF50 gas Turbines and two Cummins 370 horsepower engines; a combination quite common on smaller warships but not so on super yachts. She can achieve a range of 380 nautical miles while cruising at a speed of 60 knots or 1,500 nautical miles at nine knots.

Featuring a dedicated crew, Wallypower 118 is an excellent charter yacht for luxury vacations. The yacht cruises comfortably at 60 knots while her crew of six ensure the needs of every guest are met. The luxury vessel has been built to R.I.N.A classification.

• Yacht Builder Intermarine No profile available

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Galeocerdo a WallyPower 118 Superyacht

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If you have any questions about the Galeocerdo information page below please contact us .

Measuring 36 meters in length, luxury yacht Galeocerdo (Wally//118) represents undoubtedly one of the most distinctive and fastest motor yachts in the world. Motor yacht Galeocerdo features naval architecture by Wally and Intermarine, while her exterior styling is by Wally and Lazzarini Pickering Architects. Boasting a striking vertical bow, the vessel provides unmatched stability and control, even at high speeds.

Galeocerdo Specifications

WallyPower 118 superyacht Galeocerdo features bright and spacious interiors, comfortably sleeping 6 guests in total, looked after by a professional crew of 6. She represents a truly unique combination of the thrills of a high-performance sport boat, with the comforts of a luxury cruising yacht.

The impressive three gas turbine Vericor TF50 diesel engines produce 17,000 horsepower, propelling the WallyPower 118 yacht Galeocerdo to the amazing top speed of over 60 knots.

Yacht Accommodation

A total number of 6 guests are offered maximum comfort and luxury aboard WallyPower 118 superyacht Galeocerdo. There is also accommodation for an attentive crew of 6 members.

Amenities and Extras

We do have available further amenity, owner and price information for the 36m (118') yacht Galeocerdo, so please enquire for more information.

Galeocerdo Disclaimer:

The luxury yacht Galeocerdo displayed on this page is merely informational and she is not necessarily available for yacht charter or for sale, nor is she represented or marketed in anyway by CharterWorld. This web page and the superyacht information contained herein is not contractual. All yacht specifications and informations are displayed in good faith but CharterWorld does not warrant or assume any legal liability or responsibility for the current accuracy, completeness, validity, or usefulness of any superyacht information and/or images displayed. All boat information is subject to change without prior notice and may not be current.

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“You look around the market today and I would say that 95 per cent of yachts from 40 to 140 feet have copied Genie of the Lamp. That kind of layout, that kind of style and deck, it’s clear. I don’t think it’s too much to say that Genie has influenced the last 20 years.” - "Today, everyone has ‘invented’ the vertical bow. We didn’t invent it, it was invented in the 19th century, even before that, but when we introduced it in 2003, everyone was against it. Even the naval architects, they were saying, ‘no, this boat will have big problems’. And now everyone understands that there are a lot of advantages in having a vertical bow. And everyone is claiming they invented it!” - Luca Bassani, founder and president of Wally

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118 WallyPower High Speed Luxury Yacht

The 118 WallyPower is one of the most eye-catching yachts in today’s luxury boating market, created by the Monaco-based Wally Yachts. It is narrow and angular in design with black glass housing. It is 118 feet long and is capable of reaching speeds as fast as 60 knots (70 mph, 110 km/h). It is capable […]

The 118 WallyPower is one of the most eye-catching yachts in today’s luxury boating market, created by the Monaco-based Wally Yachts. It is narrow and angular in design with black glass housing.

It is 118 feet long and is capable of reaching speeds as fast as 60 knots (70 mph, 110 km/h).

It is capable of this feat due to three Vericor TF50 gas turbines generating 16,800 hp. The three gas turbines each drive a Rolls-Royce Kamewa water jet, two steerable outboard and a non-steering booster on centerline. The steerable water jets also have a diesel engine input for a 370 hp Cummins diesel hence these two wing drive trains are Combined Diesel and Gas Turbine (CODOG).

Wally Yachts did extensive testing in the SSPA facility in Gothenburg, Sweden and at Ferrari’s windtunnel in Italy.

The 118 WallyPower is superbly crafted of exotic materials in and out, with thin wood veneers over honeycomb cores and lots of exposed black carbon fiber.

The 118 WallyPower won the MYDA, Millennium Yacht Design Award, organised by Seatec (the yachting and shipping technology show of Carrarafiere) for the “Layout of the Third Millennium.”

The WallyPower is also being honoured by the San Francisco Museum of Modern Art as the sole boat in its major architecture and design exhibition, ‘Glamour: Fabricating Affluence’, which ran from October 9 2004 to January 16 2005.

Wally Yachts has only produced one, and it currently resides in the Mediterranean. The 118 is known by most from its role as the “Renovatio” in the 2005 science-fiction film The Island.

Price? $24 million- and the Wally owner should budget, say, $400,000 a year for a professional crew. Wally is awaiting a firm order before building the next 118.

The company might have to wait a while. “I don’t think it’s a marketable product,” says Roger Marshall, a yacht designer and boating writer.

“It’s a high-speed boat that is way overpowered and expensive as hell to run, so the market consists of very few people.”

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VERICOR NEWS

Vericor power systems’ tf50 gas turbines to power wallypower 118 high-speed yachts.

Three Vericor Power Systems' TFT50 marine aeroderivative gas turbines have been selected to power the 118 Wallypower high-speed yacht being built by Intermarine Shipyard, Sarzana, Italy for Wally Yacht.

This is Wally Yacht's first foray into high-speed power yachts, and the company's initial application of gas turbines. Wally Yacht, based in Monte Carlo, Monaco, is a world-renowned designer of high-speed sailing and power yachts.

The 118-foot yacht will feature three TF50 gas turbines in a Combined Diesel Or Gas (CODOG) turbine configuration. Two TF50s will be used as side or "wing" engines, with one small auxiliary diesel engine connected to each wing engine. The diesels will provide for very slow maneuvering only. The wing engines will drive steerable waterjets while the center boost TF50 will drive a fixed waterjet. Total propulsion system output will be 16,800 horsepower/ 12,533 kilowatts (see attached line drawing of the propulsion system configuration).

Cruising speed will be 60 knots, with a maximum speed of 70 knots. Table 1 shows the technical specifications for the 118 Wallypower yacht.

Detroit Diesel Corporation (DDC) packaged the CODOG system for the 118 Wallypower yacht. DDC, a Vericor Power Systems marine systems distributor, is part of MTU-Friedrichshafen, a division of DaimlerChrysler Powersystems. DaimlerChrysler is one of the world's leading manufacturers of marine propulsion engines and systems.

The integrated system includes three TF50 gas turbines, controls, Maag gears, as well as fuel, lube, cooling and exhaust components. Table 2 illustrates the commercial marine specifications for the TF50 gas turbine.

A team comprised of Vericor Power Systems and DDC field service engineers will install and conduct sea trials for the high-speed yacht. Installation of the CODOG system on the Wally Yacht is scheduled for March 2002. Sea trials are to follow in April/ May 2002.

Yacht Experience Other commercial applications of Vericor's TF engines include the high-speed yacht Detroit Eagle. The vessel uses a TF50 aeroderivative marine gas turbine, marking the first such engine to begin operation. The megayacht, which can reach a comfortable cruising speed of approximately 35 knots, completed sea trials in the spring of 2001 and is now in operation.

The yacht was built at the Feadship de Vries shipyard in The Netherlands. This is the second Feadship yacht fitted with TF gas turbines. The 161-foot Sussurro yacht launched in 1998 features a TF80 (2xTF40) gas turbine system.

The "Mangusta" series yachts, being built by Overmarine Shipyard, in Viareggio, Italy, use TF40 and TF50 gas turbines. Five yachts use a total of five TF40 and two TF50 gas turbines in a variety of configurations. Four Mangusta yachts are now in full operation, with the fifth yacht in the series under construction.

The TF engines for all of the above applications were provided by Vericor Power Systems.

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WALLYPOWER 118 YACHT TRIBUTE

We are delighted to introduce you to our tribute to an iconic model of the nautical industry, such as the WallyPower 118 .

Through visual storytelling , we show the uniqueness of this yacht in its marine habitat. Our goal is to bring the viewer on a short emotional journey.

Research is at the core of our work.

A meticulous study that aims to enhance every project and make it unique.

VIDEO ANIMATION

Through the careful direction of the video, the story takes shape. WallyPower 118 has been gradually revealed through its details. At last, shown in all its magnificence, sailing in the open sea.

The change of light throughout the day enhances the details of the yacht’s materials and highlights its realism .

Above all our aim was to make the viewer feel part of the scene. We’ve shown the yacht from different perspectives. The military-inspired design, elegant style, and technological innovations make the Wally yacht so iconic.

In addition to our creative approach, all our 3D visualizations start from a meticulous analysis of the characteristics of the model, we take care of every aspect of the project, achieving realistic and unique visual communication for WallyPower 118.

Wallypower 118 - the coolest luxury yacht in the world

The Wallypower 118 is a luxury yacht that gained widespread attention after it was featured in the 2005 science-fiction thriller movie "The Island." The yacht was designed and built by the Italian yacht manufacturer Wally Yachts and was launched in 2006. It is an ultra-modern and luxurious vessel that is designed to combine speed, style, and comfort.

In the movie "The Island," the Wallypower 118 is the personal yacht of the main antagonist, Dr. Merrick, played by Sean Bean . The yacht is depicted as an impressive vessel, sleek and stylish with a futuristic design that is fitting for the movie's sci-fi theme.

It measures 118 feet in length, thus the name, with a beam of 26 feet, and a draft of 5 feet. It can accommodate up to ten guests in five staterooms, and it has a crew of six. The yacht is powered by three gas turbines that generate a total of 16,800 horsepower, allowing it to reach a top speed of 60 knots, or about 70 miles per hour, making it one of the fastest yachts on the open seas .

It's exterior design is striking and unique, with sleek lines and a minimalist style. The superstructure is made of carbon fiber, which makes the yacht lightweight and adds to its impressive speed. It's innovative propulsion system includes water jets instead of traditional propellers , which further contribute to its speed and maneuverability.

The interior is equally impressive , with a contemporary minimalist design, much like the outside. The main salon features floor-to-ceiling windows that offer stunning views of the surrounding water. The yacht's state-of-the-art entertainment system includes a plasma screen TV, satellite TV, and a surround-sound system. The master suite is located on the main deck and features a king-size bed, an en-suite bathroom, and a private balcony. The guest cabins are located on the lower deck and offer similar amenities and luxurious finishes.

It has become an icon in the world of yachting, renowned for its futuristic design and advanced technology. In "The Island," the Wallypower 118 is portrayed as the ultimate symbol of power and luxury , a fitting representation of the antagonist's character.

In conclusion, this is a remarkable yacht that has captured the imagination of people worldwide. Its characteristics have made it a standout vessel in the yachting world, and its appearance in a hollywood production has only added to its mystique.

The price of the 118 Wallypower is US$33 million for the triple gas turbine version , or $22 million for twin diesels. It has a range of 1,500 nautical miles (2,800 km) at 9 knots (17 km/h), or 300 nautical miles (560 km) at 60 knots (110 km/h). Fuel capacity is 22,000 liters (5800 US gallons). At the maximum speed of 60 knots (110 km/h) the gas turbine uses 15 US gallons / 58 liters of fuel per nautical mile, 900 gallons / 3500 liters per hour . The boat displaces only 95 tons because of the sophisticated building technology that uses a hybrid structure to save weight, and can accommodate six guests and six crew.

It is worth noting that the final cost of a Wallypower 118 can be significantly higher than the base price due to the customization options available. Owners of the yacht can choose from a range of options such as interior finishes, materials, and technology upgrades, all of which can add to the cost of the yacht.

Exactly one has been built .

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118 WallyPower Yacht… The Majesty of the See

The 118 WallyPower yacht is, to put it in the briefest terms, an undisputed masterpiece. Christened the “Galeocerdo”, it has grabbed the eye of all who see its dark visage, and though its appearance alone is, to say the very least, impressive, the finer details are just as incredible. You could scour the excellent yacht harbours of Monaco or Abu Dhabi, glimpse all their seafaring wonders and yet fail to spot something that carries the same honed, dramatic presence. Beneath the exterior lies three gas turbines. These turbines pump out a gargantuan 5,600 bhp, and each drives a Rolls Royce KaMeWa Waterjet. A 370 bhp diesel engine aids the two jets that help steer the vast craft. Overall, the 118 WallyPower rockets across the waves with a combined output of 16,800 bhp. Such colossal power bolts the yacht to a top speed of 60 knots or 70 mph. Such speed is hardly reached even for far smaller boats.

And it can keep up such a speed for a range of 300 nautical miles. However, its power source isn’t totally thanks, as the sharp knife body shape, with smoke testing conducted at Ferrari’s wind tunnel in Maranello, helps cut through the waves like scissors through the cloth.

Beyond its mechanical prowess lies the most exquisite interior, where the focus on performance can still be visible. Inside the cabin are carbon fibre window frames, and the whole deck’s superstructure is a carbon frame in the 118 WallyPower’s pursuit of lightness. Even the bath fixtures and the dining tables are made from the carbon in the drive to keep the weight low. Such advanced and clever building ideas allow the boat only to weigh 95 tons.

This less is more approach cannot only be seen in its engineering but also in its cabin style. The dining area, deck, navigation and cockpit are all continuous elements, creating an open space that suits the 118 WallyPower’s breezy nature. Comparisons can easily be drawn to that of a swanky, new-age metropolitan apartment or even the understated flamboyance of a spy villain’s lair! The deck’s appearance has a sense of practicality too. Two of the dining tables can be mechanically lowered to offer more room, and the dining and lounge area is placed away from the heat of the engines.

Head deeper inside this gloriously suave vessel, and you’ll find six televisions at your leisure and a small, stainless steel kitchen that wouldn’t look too out of place on the set of science fiction films. Coincidently, the 118 WallyPower did indeed gets its moment in the spotlight by appearing in the 2005 thriller “The Island”.

Three bedrooms can be found below the deck. The owner’s stateroom acts as the largest, bearing the comfort of a king-size bed and a pair of en suites, complete with a skylight. A couple of guest rooms are also available, each with a queen-size bed and an en suite. Putting into detail how a yacht perfectly capable of housing six people in refined, palatial splendour truly puts into perspective the technological brilliance in achieving such a low weight and high speed.

In such a vast world of water, it seems a shame to have such a masterpiece be so rare to find. That being said, perhaps it only fits and remains one of a kind. Currently, the 118 WallyPower is one of a kind and owned by the Kondakji family. That exclusivity level can reinforce its place as an icon on the waves and a marvellous representative of pushing the boundaries of yacht design. Some day there will be faster and more luxurious power yachts than the 118 WallyPower, but they will never make anyone forget their mesmerising presence.

Enjoy even more @  Wally Yacht World

Edit by  Roberto Castellucci

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WALLYPOWER 118

WallyPower 118 is the fastest motor yacht on water. Three gas turbines generating 16,800 HP power allows the 118 WallyPower to cruise a leisurely 60 knots in flat seas and tackle rough waters with ease. The yacht is narrow and angular in design, driven by three Vericor TF50 gas turbines generating 5,600 horsepower (each driving a Rolls-Royce Kamewa water jet), two steerable outboard and a non-steering booster on the centerline. The steerable water jets also have a diesel engine input for a 370 hp, thus making the ship a Combined Diesel or Gas Turbine configured vessel.  If the gas turbine engines are all out, the 118 WallyPower uses 14 gallons for every mile at 60 knots. At this rate it uses 951 gallons an hour.

The hull of the 118 WallyPower is the result of an extensive R&D program including tank testing at the SSPA facility in Gothenburg, Sweden, and smoke testing in the Ferrari Wind Tunnel Facility in Maranello, Italy. It is stable at speed thanks to the deep V (22 degrees) hull shape and a straight stem bow designed to pierce waves.

The 118's deck, cockpit, navigation, dining and saloon areas have been designed as one continuous element. The open space incorporates three areas, from stern to bow: the saloon, the dining/seating area, and the navigation cockpit. There is a 360-degree view from the dining area. The deck of the Wally 118 has a hidden crane and compartment for a tender. 

This primarily wood model of the WallyPower 119 features detailed Rolls-Royce Kamewa water jet, with two steerable outboard and a non-steering booster on the centerline. Only the owners of our models can see them, as we do not want to reveal that to copycat builders.

30" long x 9" tall  x 8" wide   $2,970 Shipping and insurance in the contiguous USA included, other places: $300.  

24" long $2,740 Shipping and insurance in the contiguous USA included, other places: $200.  

We have another beautiful Wally here: Wallytender 48

Learn more about the Wallypower 118: https://en.wikipedia.org/wiki/118_WallyPower

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Strange Glow Over Moscow Skies Triggers Panic as Explosions Reported

B right flashes lit up the night sky in southern Moscow in the early hours of Thursday morning, new footage appears to show, following reports of an explosion at an electrical substation on the outskirts of the city.

Video snippets circulating on Russian-language Telegram channels show a series of flashes on the horizon of a cloudy night sky, momentarily turning the sky a number of different colors. In a clip shared by Russian outlet MSK1.ru, smoke can be seen rising from a building during the flashes lighting up the scene.

Newsweek was unable to independently verify the details of the video clips, including when and where it was filmed. The Russian Ministry of Emergency situations has been contacted via email.

Several Russian Telegram accounts said early on Thursday that residents of southern Moscow reported an explosion and a fire breaking out at an electrical substation in the Leninsky district, southeast of central Moscow.

Local authorities in the Leninsky district told Russian outlet RBC that the explosion had happened in the village of Molokovo. "All vital facilities are operating as normal," Leninsky district officials told the outlet.

The incident at the substation in Molokovo took place just before 2 a.m. local time, MSK1.ru reported.

Messages published by the ASTRA Telegram account, run by independent Russian journalists, appear to show residents close to the substation panicking as they question the bright flashes in the sky. One local resident describes seeing the bright light before losing access to electricity, with another calling the incident a "nightmare."

More than 10 villages and towns in the southeast of Moscow lost access to electricity, the ASTRA Telegram account also reported. The town of Lytkarino to the southeast of Moscow, lost electricity, wrote the eastern European-based independent outlet, Meduza.

Outages were reported in the southern Domodedovo area of the city, according to another Russian outlet, as well as power failures in western Moscow. Electricity was then restored to the areas, the Strana.ua outlet reported.

The cause of the reported explosion is not known. A Telegram account aggregating news for the Lytkarino area described the incident as "an ordinary accident at a substation."

The MSK1.ru outlet quoted a local resident who speculated that a drone may have been responsible for the explosion, but no other Russian source reported this as a possible cause.

Ukraine has repeatedly targeted Moscow with long-range aerial drones in recent months, including a dramatic wave of strikes in late May.

On Sunday, Moscow Mayor Sergei Sobyanin said the region's air defense systems had intercepted an aerial drone over the city of Elektrostal, to the east of Moscow. No damage or casualties were reported, he said.

The previous day, Russian air defenses detected and shot down another drone flying over the Bogorodsky district, northeast of central Moscow, Sobyanin said.

There is currently no evidence that an aerial drone was responsible for the reported overnight explosion at the electrical substation in southern Moscow.

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40 facts about elektrostal.

Written by Lanette Mayes

Modified & Updated: 02 Mar 2024

Reviewed by Jessica Corbett

Elektrostal is a vibrant city located in the Moscow Oblast region of Russia. With a rich history, stunning architecture, and a thriving community, Elektrostal is a city that has much to offer. Whether you are a history buff, nature enthusiast, or simply curious about different cultures, Elektrostal is sure to captivate you.

This article will provide you with 40 fascinating facts about Elektrostal, giving you a better understanding of why this city is worth exploring. From its origins as an industrial hub to its modern-day charm, we will delve into the various aspects that make Elektrostal a unique and must-visit destination.

So, join us as we uncover the hidden treasures of Elektrostal and discover what makes this city a true gem in the heart of Russia.

Key Takeaways:

• Elektrostal, known as the “Motor City of Russia,” is a vibrant and growing city with a rich industrial history, offering diverse cultural experiences and a strong commitment to environmental sustainability.
• With its convenient location near Moscow, Elektrostal provides a picturesque landscape, vibrant nightlife, and a range of recreational activities, making it an ideal destination for residents and visitors alike.

Known as the “Motor City of Russia.”

Elektrostal, a city located in the Moscow Oblast region of Russia, earned the nickname “Motor City” due to its significant involvement in the automotive industry.

Home to the Elektrostal Metallurgical Plant.

Elektrostal is renowned for its metallurgical plant, which has been producing high-quality steel and alloys since its establishment in 1916.

Boasts a rich industrial heritage.

Elektrostal has a long history of industrial development, contributing to the growth and progress of the region.

Founded in 1916.

The city of Elektrostal was founded in 1916 as a result of the construction of the Elektrostal Metallurgical Plant.

Located approximately 50 kilometers east of Moscow.

Elektrostal is situated in close proximity to the Russian capital, making it easily accessible for both residents and visitors.

Known for its vibrant cultural scene.

Elektrostal is home to several cultural institutions, including museums, theaters, and art galleries that showcase the city’s rich artistic heritage.

A popular destination for nature lovers.

Surrounded by picturesque landscapes and forests, Elektrostal offers ample opportunities for outdoor activities such as hiking, camping, and birdwatching.

Hosts the annual Elektrostal City Day celebrations.

Every year, Elektrostal organizes festive events and activities to celebrate its founding, bringing together residents and visitors in a spirit of unity and joy.

Has a population of approximately 160,000 people.

Elektrostal is home to a diverse and vibrant community of around 160,000 residents, contributing to its dynamic atmosphere.

Boasts excellent education facilities.

The city is known for its well-established educational institutions, providing quality education to students of all ages.

A center for scientific research and innovation.

Elektrostal serves as an important hub for scientific research, particularly in the fields of metallurgy, materials science, and engineering.

Surrounded by picturesque lakes.

The city is blessed with numerous beautiful lakes, offering scenic views and recreational opportunities for locals and visitors alike.

Well-connected transportation system.

Elektrostal benefits from an efficient transportation network, including highways, railways, and public transportation options, ensuring convenient travel within and beyond the city.

Famous for its traditional Russian cuisine.

Food enthusiasts can indulge in authentic Russian dishes at numerous restaurants and cafes scattered throughout Elektrostal.

Home to notable architectural landmarks.

Elektrostal boasts impressive architecture, including the Church of the Transfiguration of the Lord and the Elektrostal Palace of Culture.

Offers a wide range of recreational facilities.

Residents and visitors can enjoy various recreational activities, such as sports complexes, swimming pools, and fitness centers, enhancing the overall quality of life.

Provides a high standard of healthcare.

Elektrostal is equipped with modern medical facilities, ensuring residents have access to quality healthcare services.

Home to the Elektrostal History Museum.

The Elektrostal History Museum showcases the city’s fascinating past through exhibitions and displays.

A hub for sports enthusiasts.

Elektrostal is passionate about sports, with numerous stadiums, arenas, and sports clubs offering opportunities for athletes and spectators.

Celebrates diverse cultural festivals.

Throughout the year, Elektrostal hosts a variety of cultural festivals, celebrating different ethnicities, traditions, and art forms.

Electric power played a significant role in its early development.

Elektrostal owes its name and initial growth to the establishment of electric power stations and the utilization of electricity in the industrial sector.

Boasts a thriving economy.

The city’s strong industrial base, coupled with its strategic location near Moscow, has contributed to Elektrostal’s prosperous economic status.

Houses the Elektrostal Drama Theater.

The Elektrostal Drama Theater is a cultural centerpiece, attracting theater enthusiasts from far and wide.

Popular destination for winter sports.

Elektrostal’s proximity to ski resorts and winter sport facilities makes it a favorite destination for skiing, snowboarding, and other winter activities.

Promotes environmental sustainability.

Elektrostal prioritizes environmental protection and sustainability, implementing initiatives to reduce pollution and preserve natural resources.

Home to renowned educational institutions.

Elektrostal is known for its prestigious schools and universities, offering a wide range of academic programs to students.

Committed to cultural preservation.

The city values its cultural heritage and takes active steps to preserve and promote traditional customs, crafts, and arts.

Hosts an annual International Film Festival.

The Elektrostal International Film Festival attracts filmmakers and cinema enthusiasts from around the world, showcasing a diverse range of films.

Encourages entrepreneurship and innovation.

Elektrostal supports aspiring entrepreneurs and fosters a culture of innovation, providing opportunities for startups and business development.

Offers a range of housing options.

Elektrostal provides diverse housing options, including apartments, houses, and residential complexes, catering to different lifestyles and budgets.

Home to notable sports teams.

Elektrostal is proud of its sports legacy, with several successful sports teams competing at regional and national levels.

Boasts a vibrant nightlife scene.

Residents and visitors can enjoy a lively nightlife in Elektrostal, with numerous bars, clubs, and entertainment venues.

Promotes cultural exchange and international relations.

Elektrostal actively engages in international partnerships, cultural exchanges, and diplomatic collaborations to foster global connections.

Surrounded by beautiful nature reserves.

Nearby nature reserves, such as the Barybino Forest and Luchinskoye Lake, offer opportunities for nature enthusiasts to explore and appreciate the region’s biodiversity.

Commemorates historical events.

The city pays tribute to significant historical events through memorials, monuments, and exhibitions, ensuring the preservation of collective memory.

Promotes sports and youth development.

Elektrostal invests in sports infrastructure and programs to encourage youth participation, health, and physical fitness.

Hosts annual cultural and artistic festivals.

Throughout the year, Elektrostal celebrates its cultural diversity through festivals dedicated to music, dance, art, and theater.

Provides a picturesque landscape for photography enthusiasts.

The city’s scenic beauty, architectural landmarks, and natural surroundings make it a paradise for photographers.

Connects to Moscow via a direct train line.

The convenient train connection between Elektrostal and Moscow makes commuting between the two cities effortless.

A city with a bright future.

Elektrostal continues to grow and develop, aiming to become a model city in terms of infrastructure, sustainability, and quality of life for its residents.

In conclusion, Elektrostal is a fascinating city with a rich history and a vibrant present. From its origins as a center of steel production to its modern-day status as a hub for education and industry, Elektrostal has plenty to offer both residents and visitors. With its beautiful parks, cultural attractions, and proximity to Moscow, there is no shortage of things to see and do in this dynamic city. Whether you’re interested in exploring its historical landmarks, enjoying outdoor activities, or immersing yourself in the local culture, Elektrostal has something for everyone. So, next time you find yourself in the Moscow region, don’t miss the opportunity to discover the hidden gems of Elektrostal.

Q: What is the population of Elektrostal?

A: As of the latest data, the population of Elektrostal is approximately XXXX.

Q: How far is Elektrostal from Moscow?

A: Elektrostal is located approximately XX kilometers away from Moscow.

Q: Are there any famous landmarks in Elektrostal?

A: Yes, Elektrostal is home to several notable landmarks, including XXXX and XXXX.

Q: What industries are prominent in Elektrostal?

A: Elektrostal is known for its steel production industry and is also a center for engineering and manufacturing.

Q: Are there any universities or educational institutions in Elektrostal?

A: Yes, Elektrostal is home to XXXX University and several other educational institutions.

Q: What are some popular outdoor activities in Elektrostal?

A: Elektrostal offers several outdoor activities, such as hiking, cycling, and picnicking in its beautiful parks.

Q: Is Elektrostal well-connected in terms of transportation?

A: Yes, Elektrostal has good transportation links, including trains and buses, making it easily accessible from nearby cities.

Q: Are there any annual events or festivals in Elektrostal?

A: Yes, Elektrostal hosts various events and festivals throughout the year, including XXXX and XXXX.

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Our commitment to delivering trustworthy and engaging content is at the heart of what we do. Each fact on our site is contributed by real users like you, bringing a wealth of diverse insights and information. To ensure the highest standards of accuracy and reliability, our dedicated editors meticulously review each submission. This process guarantees that the facts we share are not only fascinating but also credible. Trust in our commitment to quality and authenticity as you explore and learn with us.

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118 WallyPower, christened Galeocerdo, is a 118-foot (36 m) luxury motor yacht with a maximum speed of 60 knots (69 mph; 110 km/h), designed by Lazzarini Pickering Architetti, produced by Wally Yachts. [1] The yacht is narrow and angular in design with black glass housing, driven by three Vericor TF50 gas turbines generating 5,600 horsepower ...

The 118 WallyPower's gas turbines deliver 17,000hp, and diesel is used for manoeuvring and cruising at night at up to 10 knots. 'With the two diesels you have a great range - 1,800 miles - while if you went with the gas turbines at 40 to 60 knots the range is 400 to 500 miles, no more.'. This brings up the subject of sustainable power ...

The WallyPower 118, is this the fastest Superyacht?This iconic stealth carbon fibre superyacht produces 16,800 mHP through three gas turbines with waterjets ...

The WallyPower builds on the soft beige of teak and the pure black of carbon fiber to create a contrast complemented by loose cushions and modern furnishings in the same hues. The WallyPower 118's design consists of sharp lines and a vertical bow. Courtesy Wally Yachts. The WallyPower has three en suite queen-berth staterooms below, the ...

Apr 25, 2003. The futuristic-looking 118 is exactly what yachtsmen have come to expect of Wally, which turned the sailing world on its ear several years ago with decidedly different, angular, speedy-looking craft. The trend continues with the new line of power yachts, of which the 118 is the largest thus far—in fact, according to Wally, the ...

The 118 WallyPower is the largest motor yacht produced by the famous Monegasque shipyard Wally Yachts. It was built in the early 2000's according to the drawings of Luca Bassani for a client who wanted a motor yacht inspired by the 27 m sloop built by the shipyard and with the Argentinean naval architect Frers, called Tiketitan.

Although conceived as a production yacht, reportedly only one was ever built. The price at the time? An impressive £17 million. 118 Wallypower specifications. Year: 2004 LOA: 118ft 1in (36.0m) Beam: 29ft 6in (9.0m) Power: 16,800hp Top speed: 65 knots Price: £17 million Cool rating: Absolute zero (-273° C)

36-meter motor yacht Wally Yachts 118 Wallypower was built in 2002 at the Wally Yachts shipyard. The yacht is maintained and operated by 6 crew members. Characteristics of the superyacht 118 Wallypower. Main Features. Length, m. 36. Beam, m. 9. Draft, m. 1.4. Tonnage and capacity. Displacement, t. 95. Fuel Capacity (liters) 22000.

If Wallygator, the first of Luca Bassani's brainchildren, was a breath of fresh air when it appeared on the sailing scene in the waning years of the last century, the Wallypower 118 motoryacht is a full gale.On the outside, she combines elements of Marcello Gandini's masterpiece Lamborghini Countach of the middle 1980s and the U.S. Air Force Stealth Fighter.

Motor yacht Wallypower 118 is easily one of the most distinctive vessels on the water with her unique and striking exterior design. Capable of reaching high cruising speeds, her design was the result of extensive development and research that included exhausting testing. She has a steeply angled V-shaped and a stand-out deckhouse that crowns ...

The impressive three gas turbine Vericor TF50 diesel engines produce 17,000 horsepower, propelling the WallyPower 118 yacht Galeocerdo to the amazing top speed of over 60 knots. Yacht Accommodation. A total number of 6 guests are offered maximum comfort and luxury aboard WallyPower 118 superyacht Galeocerdo. There is also accommodation for an ...

So much so, in fact, that the 118 WallyPower recently won the MYDA, the Millennium Yacht Design Award organised by Seatec (the yachting and shipping technology show of Carrarafiere) for the ...

The 118 WallyPower is one of the most eye-catching yachts in today's luxury boating market, created by the Monaco-based Wally Yachts. It is narrow and angular in design with black glass housing. It is 118 feet long and is capable of reaching speeds as fast as 60 knots (70 mph, 110 km/h). It is capable of this feat due to three Vericor TF50 ...

And I could point to any number of his designs—from the iconic flush-deck sailing yachts to the one-of-a-kind 118 Wallypower—to back that claim up. WHY200 has massive amounts of space.

Wally Yacht, based in Monte Carlo, Monaco, is a world-renowned designer of high-speed sailing and power yachts. The 118-foot yacht will feature three TF50 gas turbines in a Combined Diesel Or Gas (CODOG) turbine configuration. Two TF50s will be used as side or "wing" engines, with one small auxiliary diesel engine connected to each wing engine.

WallyPower 118 has been gradually revealed through its details. At last, shown in all its magnificence, sailing in the open sea. The change of light throughout the day enhances the details of the yacht's materials and highlights its realism. Above all our aim was to make the viewer feel part of the scene. We've shown the yacht from ...

The Wallypower 118 is a luxury yacht that gained widespread attention after it was featured in the 2005 science-fiction thriller movie "The Island." The yacht was designed and built by the Italian yacht manufacturer Wally Yachts and was launched in 2006. It is an ultra-modern and luxurious vessel that is designed to combine speed, style, and comfort. ...

The 118 WallyPower yacht is, to put it in the briefest terms, an undisputed masterpiece. Christened the "Galeocerdo", it has grabbed the eye of all who see

WallyPower 118 is the fastest motor yacht on water. Three gas turbines generating 16,800 HP power allows the 118 WallyPower to cruise a leisurely 60 knots in flat seas and tackle rough waters with ease. The yacht is narrow and angular in design, driven by three Vericor TF50 gas turbines generating 5,600 horsepower (each driving a Rolls-Royce ...

173 likes, 3 comments - zetovince on March 17, 2024: "Wally 118 WallyPower #lego #legomoc #moc #afol #legostagram #superyacht #yacht #marinelife #legoboat #legoship #motoryacht #powerboat #w ...

Elektrostal, city, Moscow oblast (province), western Russia.It lies 36 miles (58 km) east of Moscow city. The name, meaning "electric steel," derives from the high-quality-steel industry established there soon after the October Revolution in 1917. During World War II, parts of the heavy-machine-building industry were relocated there from Ukraine, and Elektrostal is now a centre for the ...

Established in 1978, Mimsa Aluminium is one of the prominent companies in the industry with over 40 years of industrial experience and aluminum applications which are suitable for any project ranging from large-scaled commercial structures to small-scaled private residences. Company Profile ->.

B right flashes lit up the night sky in southern Moscow in the early hours of Thursday morning, new footage appears to show, following reports of an explosion at an electrical substation on the ...

Known as the "Motor City of Russia." Elektrostal, a city located in the Moscow Oblast region of Russia, earned the nickname "Motor City" due to its significant involvement in the automotive industry.. Home to the Elektrostal Metallurgical Plant. Elektrostal is renowned for its metallurgical plant, which has been producing high-quality steel and alloys since its establishment in 1916.

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Manhattan Townhouse Market Logs a Strong Week

25 luxury homes went into contract in the week ending sunday, including seven townhomes, contracts were signed on 25 luxury homes in manhattan last week., newsletter sign-up, daily briefing.

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Manhattan’s luxury home market came back down to earth last week, according to Monday’s weekly report from Olshan Realty. 

During the week ending Sunday, 25 contracts were signed on homes asking $4 million or more in the New York City borough. That’s 15 fewer than the prior seven-day stretch that saw a whopping 40 high-end homes find buyers. 

Mansion Global Boutique:   It’s Spring—Time To Shop for the Home

“That’s a decline of 37.5%, which begs the question: Was the previous week’s 40 contracts an anomaly, a one-week wonder?” wrote Donna Olshan, president of Olshan Realty and author of the report. “Only time will tell.”

Those 25 luxury property deals inked last week were collectively worth almost $207 million, and comprised 14 condos, four co-ops and seven townhouses—the largest number of high-end townhomes sold in any given week since June.

A townhouse was also the priciest home to enter into contract last week. The 25-foot-wide, four-story house on Waverly Place in Greenwich Village was last asking $19.95 million. Across its 8,300 square feet, the home has seven bedrooms, an elevator, a garden, and a basement with a pool, gym, sauna and wine cellar. 

The second-priciest home sold last week was a penthouse at Jardim, a development on West 27th Street in Chelsea. Last asking $17.995 million, the duplex condo spans 4,552 square feet and has four bedrooms and a giant 4,593-square-foot terrace with an outdoor kitchen and a pool.

Amenities in the building include doormen, on-site parking, a fitness center, a yoga studio, a skylit pool and a children’s playroom.

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