Leading Shipyard Executives Unveil a Vision for the Future of Yacht Construction Market

There are plenty of pundits ready to predict the trajectory of the yacht market. However, the views of shipyard CEOs, the decision-makers at the heart of the industry, are heard less frequently but carry significant weight. Seeking to obtain a more precise statistical pulse of the industry, nine market-leading shipyard executives were asked about the current state and future direction of the market. These thought leaders offer a collective diagnosis that serves as a strong indicator of the new-build landscape.

The shipyards represented span the entire spectrum of the European market, from Dutch manufacturers such as Royal Huisman, Damen Yachting and Feadship, to Italian firms Palumbo, Sanlorenzo, Azimut Benetti and Ferretti. German-based Abeking and Rasmussen are also featured along with Bilgin from Turkey. While opinions naturally vary, a number of common themes crop up repeatedly.

However, despite these advancements, the shortage of skilled labour remains a problem that cannot be entirely alleviated by improving facilities. The ability to recruit, train, retain and ensure that craftsmanship knowledge is passed on, underpins the essence of what these CEOs say. Furthermore, maintaining high-quality standards without draining profitability is frequently cited as a vital factor determining which companies will prosper in the long term.

Although the order books look strong, there is a noticeable shift in demand. Buyers are now more thoughtful, driven by the experiences they want to obtain and what they intend to do once on board. Future growth will rely on the quality of what is delivered, the reputation of the shipyard doing the delivering, and the capacity to meet the evolving demands of a new generation of vessel owners.

In a proceeding interview, News Editor Conor Feasey speaks with CEO Matthias Hellmann of Abeking & Rasmussen. The discussion continues with the series as it introduces perspectives from other shipyard chiefs in the days to come.