Tide Turns for US Boating Industry

Press Release
Sunday, January 06, 2013

Recreational boating industry reports ten percent increase in new power boat sales in 2012: first sign of healthy growth since recession.

According to the National Marine Manufacturers Association (NMMA) early projections indicate the industry will see additional increases in 2013 by as much as 5-10 percent, with the caveat that this level of growth in 2013 will depend on a number of factors including continued improvement in economic conditions that impact recreational boating—namely consumer confidence and the housing market—and sustained increases in Americans’ participation in outdoor recreation.

“Improving economic conditions and what seems to be a resurgence in Americans’ love for the outdoors, helped fuel steady growth in new power boat sales in 2012,” notes Thom Dammrich, president of NMMA. “A ten percent boost at retail in 2012 is significant as this is the first time since the recession we saw healthy growth across the powerboat market, which will create momentum in 2013.”

Another factor, and new trend, that’s contributing to new boat sales is the creation of innovative, more versatile and accessible boats that appeal to a variety of interests and budgets and fall within the 15-26 foot range.

It’s these smaller boats, those less than 27 feet, which make up 96 percent of the 12.4 million registered boats in the U.S. and are leading the industry out of the recession. Boats that fall into this category include aluminum all-purpose boats and pontoons, fiberglass bowriders, fish and ski boats, and jet boats.

“One of the most significant trends we’re seeing in boat manufacturing is the versatile boat—one that can pull tubers or wakeboarders, can be used for fishing outings, relaxing with family or entertaining friends,” said Dammrich. “After a decade of decline, Americans are participating in outdoor recreation in growing numbers, and as they look for ways to spend time outdoors, boat manufacturers are taking cue, producing innovative boats that offer an all-encompassing entry to the boating lifestyle at a variety of price points.”

National Marine Manufacturers Association (NMMA) is the leading association representing the recreational boating industry in North America. NMMA member companies produce more than 80 percent of the boats, engines, trailers, accessories and gear used by boaters and anglers throughout the U.S. and Canada.
 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Shipbuilding: Vigor Industrial Grows Stronger

Vigor Industrial has ballooned from a modest shipyard in Portland, Oregon, to the largest shipbuilder in the Pacific Northwest and Alaska. Vigor increasingly thinks big and builds big.

Q-Max Floating Dock Launched

On March 21, 2014, senior management from N-KOM and Nakilat attended the launching and naming ceremony of N-KOM’s Q-Max sized floating dock at Hyundai Samho Heavy Industries in South Korea.

US Sens. Kaine and Reed Visit Newport News Shipbuilding

Huntington Ingalls Industries (HII) hosted U.S. Sens. Tim Kaine (D-Va.) and Jack Reed (D-R.I.) Tuesday for a tour of the company's Newport News Shipbuilding division.

Vessels

Shipbuilding: Vigor Industrial Grows Stronger

Vigor Industrial has ballooned from a modest shipyard in Portland, Oregon, to the largest shipbuilder in the Pacific Northwest and Alaska. Vigor increasingly thinks big and builds big.

Damen Launches Kuwait Oil Company’s New Tug

First of 14 ASD Tugs launched at Damen Shipyards Galati The Kuwait Oil Company’s (KOC) new ASD Tug 3212 was launched end of March at Damen Shipyards Galati, Romania.

Coast Guard Battles 24-inch Plate Ice

Coast Guard Cutters Morro Bay and Katmai Bay, homeported in Cleveland and Sault Ste. Marie, Mich., conducted ice breaking operations in Marquette, Mich., Sunday.

Yachts

Maersk Line named race partner for the Volvo Ocean Race

The world’s largest container shipping company, Maersk Line, is the official shipping partner for the Volvo Ocean Race, the pre-eminent round-the-world yacht race.

KVH Film Considered for Maritime Safety Award

“The Human Element,” produced by KVH Media Group under the TRAININGlink brand, is a finalist in the “Safety at Sea” category of the Seatrade Awards. KVH Industries, Inc.

Car-Carrier Saves South Pacific Lone Yachtsman

A solo Canadian sailor has been rescued from his sinking yacht in rough conditions 1,250 nautical miles (2,300km) north-east of Auckland - about 600nm (1,100km)

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2846 sec (4 req/sec)