VP of operations for Raymarine & FLIR talks tariffs, pricing challenges and the road ahead

In September 2024, Raymarine and FLIR Maritime appointed Michelle Hildyard as vice president of operations. Ten months into her new role, Hildyard says one of the biggest challenges so far has been the impact of market conditions, including the on-again, off-again Trump tariffs, interest rate fluctuations and global uncertainty.

“[Markets] have been in a constant state of flux and constant change. We keep the course steady, but it’s a lot of distraction,” she says. “When Trump announces a tariff, you’ve got to distract your team to work out what it actually means for the company. Where is the product manufactured? Where are we selling it into? How much is that going to impact us? And it’s very distracting when you’re trying to focus on the day-to-day work – developing products and getting products into the market.”

The impact of tariffs on strategy

Speaking to MIN in May 2025 — even before the latest announcements that global steel and aluminium tariffs are to double to 50 per cent — Hildyard mused that the current geopolitical issues were challenging for the entire marine sector.

“I think everybody’s been impacted. It’s the uncertainty more than anything else. With President Trump’s tariffs — are they coming? Or are they not?” she says.

Earlier this year, as Trump announced global trade tariffs, Hildyard says her team would put processes in place to help mitigate the impact, but weeks later would need to backtrack on changes and adjust when the global situation continued to shift unpredictably.

“It’s actually a very difficult time to try and manage how to price your products and what exposure you’re going to have, etc.

“But it underlines why we need this role [VP of operations] in the organisation. Rather than having everyone in silo and segmented into different departments – product development, supply chain, parts manufacturing, marketing and so on – I can bring it all together and look broadly across the company.

“Even in uncertain times, your fundamentals are still the same. You’ve still got to try and get the right products in demand at the right time and hit the right price. While there’s a lot of fluctuation across the top with issues such as the tariffs, interest rates and economic uncertainty, we have still got to keep driving the business forward.

“I’m really confident in our strategy and what we’re doing, and I believe in the products we’re developing and where we’re going. The processes put in place give us the confidence and conviction to know that when we come out of this downturn, we’ll be positioned really well.”

UK marine market levels

Following interest rate drops in the UK in recent months and a fair start to the early boating season and spring boat shows, Hildyard expects the UK marine market to have a pretty level year.

“I don’t think it’s going to be a growth year, but it could be nice and stable. I think it’s a year to consolidate, reflect, and hopefully let all the turbulence settle down. And then I think 2026 will be a better year,” she says.

This was reflected at the spring boat shows, where MIN reported serious buyers were returning to the market.

Internationally, it’s a greyer outlook. “Most of the major players in the industry are reporting losses, so I don’t see masses of boats being manufactured this year. There’s still the overhang from covid with too many boats in the market globally that need to be sold through. It’s not disastrous. It’s not that we’re in a recession, I think it’s just a flat year.

“Globally, I think there’s so much uncertainty at the moment, but I would like to think that in 2026 things may have stabilised with tariffs and conflicts and so on, and levelled out.”

There are kernels of positivity showing, she adds. “There are certainly things happening. I look at the RV mark as well, sometimes see how that’s doing, as I think that’s quite a good comparison. And there’s some green shoots.”

Hildyard adds that the current depressed period isn’t uncharacteristic of the marine market, which always has its ups and downs.

Marine electronics: connectivity is key

Not surprisingly, product development and tech innovation are key drivers for FLIR Maritime and Raymarine.

“I love the products, and as a boater myself, it’s great fun because I use our products out on the water, so I see how important they are. I can see how much they add to life onboard, and critically, from a safety aspect, how essential some products are to safety at sea.”

Crossover technologies are big for the business, with consumer expectation now assuming a level of connectivity and convenience.

“Bringing technologies that one sees in home automation and home information to boaters is really exciting. By transferring phone technology and compatibility to the marine sector users will have a similar experience as they do in their car as their boat.”

The tech worlds are converging, she says, pointing to the company’s DAME-award winning YachtSense Link, which won the prestigious award three years ago. YachtSense Link enables boaters to monitor their vessel remotely, something Hildyard says owners expect in the modern, connected world.

“It’s more than just a 4G router,” Hildyard explains. “At home, a lot of people have home security systems where a user can check on their phone and see if someone’s ringing their doorbell, or check if someone is walking around their house.

“Now transfer that level of connectivity to the boating world. Some people are living three, four hours away from their vessel, and they may only get down every other weekend. So they’ve got a big asset sitting in a marina somewhere that they can’t check on. With the YachtSense Link app, owners can check their boat, check the fuel level, and ensure things are turned on or off. It gives them that instant security feature and connectivity they are used to with their home security.”

“To thrive in this industry, you’ve got to be innovative, you’ve got to be leading. You’ve got to do things that solve customer problems.”

Women in the marine industry

Hildyard has 19 years of experience in the marine industry, all within Raymarine and FLIR, which sits with Teledyne Technologies. She has held various positions in the organisation during her career, including supply chain manager, commercial director, vice president of customer service, and vice president of product management and business development.

Working in different areas of the business has proved invaluable for Hildyard. “I’ve worked in lots of different departments — from supply chain and business development to customer service. I’d say my time in customer service was really impactful for me because managing a team of people and managing customers who are disgruntled is a real eye-opener, and it hones some great skills. Every day was different, so I was able to showcase so many skills that I had in terms of project management, leadership and dealing with difficult situations. Back then, it was also quite male-dominated, and I had a really supportive male manager who really backed and developed me.”

Discussing a pivotal career moment, Hildyard points to her most recent promotion.

“Now I get to consolidate all of my career experience from supply chain, project management, product management, technical marketing and bringing it all together. It’s fantastic. I’ve got the ability to make real change in Raymarine and to really drive the business forward.”

Hildyard is passionate about empowering female professionals working within the recreational marine industry and last year was a member of the industry panel discussion at the Women in Marine event Mestrade 2024, in collaboration with Marine Industry News, Soundings Trade Only and British Marine.

Personally, Hildyard says that if she could change one aspect of the boating world, it would be to enable more people to get into boating. “I’m lucky. My family were boaters, and I’ve grown up on the water. I have parents at school who tell me they’d love to get into sailing, but they just don’t know how to. It’s such a barrier. So it’s a case of, how can we help people get into boating and taking the barriers away, right from grassroots up to people with disposable income?”