Lesson One: Industry Demographics
THE SUPERYACHT INDUSTRY
The history of private yacht industry stretches back over many years. In the latter half of the 20th century, an increasingly affluent society led to a growth in the production of leisure yachts to meet the ever-expanding demand. To date, there are over 10,000 mega yachts worldwide, with about 150 new yachts being delivered each year. Motor yachts make up about 80% and sailing yachts about 20%. These are owned by corporations or private individuals and are professionally crewed and governed by specific maritime regulations.
These yachts are state of the art masterpieces of engineering, construction and design. Most yachts are custom built and range in size from 24 meters (80 feet) to 200 meters (656 feet). The cost to build these yachts ranges from around one million euros to over 400 million euros.
Due to the increase in global wealth the super yacht industry is growing at an incredible rate. Countries such as Russian, China and India are creating hundreds of millionaires who have helped to contribute to the recent increased demand.
Any country which has coastline and marinas will have some percentage of the yachting industry but there are some countries which command more yachts than others; particularly those in the Mediterranean and the Caribbean. With many yachts dividing their year between the two, spending the summer months in the Med and the winter months in the Caribbean. These are referred to as seasons and a typical charter yacht will have dual seasons with short periods of maintenance in between.
Currently the largest yacht in the world is called Azzam at 180.61m long and built by Blohm + Voss.
The most expensive yacht is still credited as being Eclipse, with a price tag of somewhere between $450 Million and $1.2 Billion.
It is estimated there are in the region of 50,000 yacht crew worldwide and that does not take into account the people employed in the yachting support and supply industry.
There are many different yacht builders or shipyards who produce custom design yachts to particular specifications and invest huge amounts of time and research into newer and more innovative designs now demanded by the client. In addition these yachts now have more and more regulations regarding the build, their management and crewing, their safety and the implications for the environment.
The top 10 yachts builders are:
Amels, Netherlands Blohm+Voss, Germany
Christensen Shipyards, US Feadship, Netherlands
Fincantieri Yachts, Italy Heesen Yachts, Netherlands
Lurssen Yachts, Germany Oceanco, Netherlands
Perini Navy, Italy Sunseeker, UK
Description of Lesson
- Benefit 1
- Benefit 2
- Benefit 3