Britain’s boatbuilders are buoyant

New figures demonstrate the resilience of the UK’s boat manufacturing sector
A brand new industry report, released today at TheYachtMarket.com Southampton Boat Show by leading membership organisation British Marine, looks exclusively at the boat manufacturing sector within the UK’s £3.01bn leisure marine industry. Key findings:

• The UK’s boatbuilding sector grew in 2016, with unit production climbing by +1.5% to 9,907 units

• Revenue increased by +1.6%, generating £859million in turnover in 2016, meaning that boat production accounts for over a third of the marine industry’s £3.01billion revenue

• £724million or 84% was derived from exports, an increase of +35%

This is the first ever research to show detailed growth of British Marine member boatbuiliding across domestic and overseas markets and showing the health of the sector.

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

• The UK continues to be a leader in the global dinghy sailboat market, accounting for 78% of total units produced. Production numbers grew 1.2% in 2016 to 7,735

• The rigid inflatable boat (RIB) market has grown 12.3%, with 820 units produced last year

• Mid-sized motor yacht production has increased 2.7%, with 380 units produced last year

Commenting on the state of the UK’s boat manufacturing sector, British Marine CEO, Howard Pridding, said: “Boatbuilding in the UK has changed dramatically since the last decade, with demographic and social change re-shaping manufacturers’ customer base and their access and approach to spending and boat ownership. As a result, the market for boat builders in traditional boat segments has narrowed for boatbuilders across the world.

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

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

These figures are being released at TheYachtMarket.com Southampton Boat Show 2017. Hundreds of boats of all shapes and sizes are on display, with 156 boats and products making their debut. The largest boat at the Show is the Princess 30M superyacht, priced at £8m excluding VAT whilst the smallest boat is the Excel Ventura SL200 inflatable dinghy costing just £459. Running from now until Sunday 25 September, Britain’s biggest festival of boating celebrates the fun and lifestyle that being on the water has to offer. Offering brand new attractions for this year alongside live music and entertainment the event, this year’s event will get more people than ever out on the water to enjoy boating and watersports.