YACHTING TRENDS 2023
23/11/2023
2023 YACHTING TRENDS FROM THE LEADER FERRETTI GROUP - @ABYSYACHTING
Following on from the success of this autumn's boat shows (Cannes Yachting Festival, Monaco Yacht Show...) and with the end of the year approaching, here's an overview of the new trends that have made their mark on the yachting sector this year. A condensed of a global market study, but above all, with concrete examples of innovations from the leader, the Ferretti Group, and its motorboats.
Which yacht models have made their mark this year to become today's top innovations? With the number of yachts under construction on the global market up by 7%, yachting is a sector that continues to expand, with ever more luxurious and environmentally-friendly vessels.
YACHTING MARKET OVERVIEW
According to the latest study, the majority of owners of yachts and superyachts over 40 meters are based in the USA, accounting for 24% of the total fleet. Russian owners come second with 8%, followed by Greece and Turkey, with 6% of the fleet. The UK and Italy round off the ranking, with a 5% share each. Greece and Croatia join the list of major new yacht buyers. The Greeks rank 3rd, with a 6% share of yachts under construction.
In terms of new yacht sales, 668 superyachts are currently under construction and 134 are available for sale. The number of units available for sale represents 20% of the order book this year. This is down on last year (21% and 35% in 2021). Sales of new yachts between 30 and 50 meters have fallen the most. And yet, as we shall see, for the Ferretti Group, this is their most profitable sector! As Stefano de Vivo recently stated (see next section), demand is still quite strong.
In terms of pre-owned yacht sales, availability is in a historic low. It's hard to make up for the excellent year of 2022, when 372 yachts were sold (the last record was set in 2017, when 506 yachts were sold). Nor has the decline been helped by the number of pre-owned yachts withdrawn from sale between 2021 and 2022 by their owners, unable to find a replacement. A trend which, however, is likely to return to the upswing for superyachts sold during the pandemic, with owners keen to return to simplicity.
KEY SUCCESS FACTORS ON THE LEADER'S SIDE
At the beginning of October 2023, Stefano de Vivo, CCO of the Ferretti Group, spoke to Boat International about the fundamental key success factors of the leading Italian group. One of the things he made a point of doing as soon as he arrived in 2014 was to develop the DNA of each brand so that they could remain strong and clean. For him, it was vital to maintain diversity in the yacht design teams: project engineers, designers, brand managers... All passionate about the brands, moreover, will quickly realize the strength of the ranges on the market.
Wally has joined the Ferretti Group from 2019 in order to fill their gaps in the cruising market, but also in terms of fast sailing and high volume with reduced footprint. A perfect combination, which has enabled the group to develop a complete range of brands, able to cover all the needs of pleasure boating. All of which, by extension, complement each other perfectly. 7 brands, from dayboat to yacht to superyacht. Ferretti Yachts allows you to buy a boat in series, with customization options. And if you're looking for something bigger, then Custom Line is the brand of excellence for fully customized superyachts.
Another distinctive feature that sets Wally apart is its choice of materials. Wally was a pioneer in the use of carbon fiber, which helped it stand out from the crowd, with yachts that had a distinctive, futuristic look. For Stefano De Vivo, "there's hardly a builder out there who isn't trying to create a Wally look-alike or copy". Another strong point of the Ferretti Group is its ISO 9001:2015 certification, the most demanding standard for business processes in terms of product and service quality, for customer satisfaction. And also, its ISO14001:2015 certification, an internationally recognized benchmark for sustainable development and environmental protection.
THE LATEST INNOVATIONS IN YACHTING
This year has seen a host of new products. Designers have outdone themselves to offer products that are as sublime as they are functional. With two world premieres this year from Ferretti Yachts and Pershing, technological prowess and efforts to achieve more sustainable products have set the bar very high for future models. The inFYnito 90inFYnito 90 is a pure technological marvel, with its zero-emission mode and the possibility of installing solar panels. The Pershing GTX116 is the ultimate expression of the luxury sports yacht, featuring a large living area and extraordinary speed performance, outperforming even launches half her size.
As for other recent models, the Ferretti Yachts 860 features a garage for up to two nautical toys (a 3.95 m tender and a two-seater jet ski), which remains a real novelty in this market segment. The Ferretti Yachts 580 is also a technological feat. This yacht is a condensed version of the latest innovations from previous ranges in terms of design, comfort and new technologies, but in a more compact version. Another newcomer is the Ferretti Yachts 1000 Skydeck, which is another version of the original 1000, but with an enclosed, sheltered saloon on the upper deck, giving the sensation of being able to touch the sky.
The "Signature" elements of the Ferretti Group are also perpetuated and sublimated. That's why the continuity between interior and exterior will always be characteristic of the Group's yachts. The aim is to remove as many barriers as possible, for a better connection with the sea. The styling remains elegant and minimalist, to give customers the choice of personalizing everything, from contemporary to classic interiors. As for the latest brand to join the group, the WallyWhy150 is the only boat of its size to offer an owner's suite forward.
The yachting market continues to expand, and the figures are more than encouraging! Despite a market that seems to be running out of steam, the leaders are staying in the race by focusing on disruptive solutions, but increasingly on the quality of their services. Ferretti Group, for example, has created its own "Ecole des Métiers" for its Ravennes production site (due to open soon), in order to perpetuate strong values such as the ancestral know-how of master builders. A difference that will play out in terms of brand image and the ability to build long-term customer loyalty. As trends evolve rapidly and demands become ever more demanding, whether in terms of design, new technologies or, above all, the environment, all these factors will have to be taken into account if we are to make the difference.)
