This Luxury Yacht Overview And Analysis market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Luxury Yacht Overview And Analysis market.
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, harbour 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 focussed 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.
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Luxury Yacht Market: Key Drivers
Luxury yachts come
in the ultra-luxury category along with other products such as cars,
jewellery, luxury watches and private jets. Manufacturers of customised
luxury yachts enable tourists to access multiple helipads, cinema
screens etc. during their travel. Personalised services available while
travelling such as ocean view through helicopters and island visits by
speedboats are other driving factors for the growth of the luxury yacht
market. The rise in the maritime and coastal tourism industry further
contributes to the growth of the luxury yacht market.
Luxury Yacht Market: Challenges
Luxury yachts have a high cost of operation including the salary of skilled and professional staff i.e. chefs, room service professionals, etc. Today’s open era of piracy reduces tourist security on luxury yachts. The period of recession also affects the luxury yacht market because of high price and maintenance cost of luxury yachts.
Luxury Yacht Market: Trends
new luxury yachts provide tourists a personalised beach experience for
enhancing the luxury appeal of the yachts. Luxury yachts have inbuilt
casinos that magnify the leisure experience of a tourist. These yachts
provide modern facilities and convenience features in terms of
technological advancements such as navigation aids, radars,
echo-sounding systems and auto-pilot facilities. Latest manufacturing
technology used to build luxury yachts increases comfort levels and
security of the tourists. Manufacturing companies are trying to build
more eco-friendly luxury yachts using solar panels and installation of
efficient hybrid engines. Wherever possible, recyclable materials are
used to build luxury yachts for sustainable development.One of the
latest trends in the luxury yacht market is innovation in the design of
hulls, which enables cruises to have faster speed with lesser
consumption of fuel.
Luxury Yacht Market: Outlook
by governments of various nations in marine infrastructure is
broadening the scope for the luxury yacht market. “Yacht Shows” across
the continents such as the Miami yacht show and Abu Dhabi yacht show are
gaining popularity amongst the rich class. These shows attract
potential buyers by demonstrating all features and amenities offered on a
luxury yacht. The aesthetics and interior finish, concept, innovation,
professional platform, high speed and huge capacity make the luxury
yacht market as one of the most potential markets in the global tourism
Luxury Yacht Market: Different Yacht Types
are private as well as chartered luxury yachts. Private yachts are
bought by rich individuals, HNWI and UHNWI clients who can afford to pay
for such types of yachts. Luxury yachts can also be categorised as
sailing and motor yachts. Sailing yachts offer soothing, stimulating and
relaxing experiences. Super yacht is a yacht above 80 feet height while
the Mega yacht is one above 200 feet height.
Luxury Yacht Market: Top Manufacturers
Amels in Netherlands is known as the best luxury yacht builder and it has the largest yacht shipyard. Blohm+Voss in Germany, with its shipyard located in Hamburg is the top builder of customised luxury yachts that have beautiful aesthetics and are technically advanced. Christensen Shipyards in U.S.A. builds semi-customised luxury yachts and has a state-of-the-art shipyard in Vancouver. Fincantieri Yachts in Italy has 20 shipyards, three design centres and one research centre. Sunseeker International Ltd. in the UK builds both customised as well as semi-customised yachts with GRP composite materials and carbon fibres that reduce pollution. The company has its shipyard located at Dorsen. Other major manufacturers in the luxury yacht market are Feadship, Heesen Yachts and Oceano of Netherlands, Lurrsen of Germany and Perini Navi of Italy.
This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.
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The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.
The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.