Latest news with #LuxuryYacht
Yahoo
04-07-2025
- Business
- Yahoo
Technological Advances Elevate Experiences With AR and Autonomous Navigation, Emerging Markets and Polar Expeditions Expand Demographics and Destinations
Luxury Yacht Market to Skyrocket: Expected Growth from USD 10.2 Billion in 2025 to USD 22.5 Billion by 2034 at 9.1% CAGR. Driven by demand for sustainable luxury, wellness-centric designs, and digital management, key regions include MEA, Europe, and Asia-Pacific. Discover emerging trends in eco-yachting. Luxury Yacht Market Dublin, July 04, 2025 (GLOBE NEWSWIRE) -- The "Luxury Yacht Market Outlook 2025-2034" report has been added to Yacht Market is valued at USD 10.2 billion in 2025. Further the market is expected to grow by a CAGR of 9.1% to reach global sales of USD 22.5 billion in 2034The luxury yacht market epitomizes wealth, exclusivity, and personalized leisure, offering high-net-worth individuals an ultra-premium maritime lifestyle experience. This market includes motor yachts, sailing yachts, superyachts (over 24 meters), and mega yachts, often custom-built or semi-customized to reflect the owner's preferences. These floating palaces combine advanced navigation technology, designer interiors, private spas, pools, helipads, and entertainment suites. Driven by growing global affluence, especially in the Middle East, Europe, and Asia-Pacific, the luxury yacht market has become synonymous with status, privacy, and bespoke travel experiences. Charter services and shared ownership models are also gaining traction among newer luxury buyers and travel-focused 2024, the market saw robust activity as yacht deliveries surged, order books extended into 2026, and demand for sustainable innovations accelerated. Builders incorporated hybrid propulsion, solar panels, and low-impact materials into new designs to address environmental concerns. High-net-worth individuals prioritized larger yachts with long-range capabilities to explore remote destinations in comfort and safety. Charter bookings soared, supported by concierge platforms and digital yacht management systems. Key markets like Monaco, the UAE, and Florida hosted record-setting yacht shows and private showcases, while Asian buyers entered the market through fractional ownership and boutique shipyards offering artisanal design into 2025 and beyond, the luxury yacht industry will prioritize eco-yachting, autonomous navigation, and hyper-customization. Builders are investing in hydrogen fuel cell propulsion and AI-based energy optimization systems to meet ESG benchmarks. Interiors will reflect wellness-centric design, with fitness studios, cryotherapy, and meditation rooms becoming tech will advance through AR dashboards and immersive guest entertainment, while shipyards will compete by offering immersive co-design experiences with owners. As polar and expedition cruising becomes more desirable, rugged luxury yachts with ice-class hulls and onboard research labs will open new dimensions in high-end exploration. Emerging demand from India, Vietnam, and Africa will diversify client demographics and aesthetic Insights Luxury Yacht Market Sustainability-led yacht designs using hybrid propulsion, green materials, and energy-efficient systems are becoming industry benchmarks. Growing interest in experiential charters and long-range voyages is driving demand for explorer yachts with global cruising capability. Digital platforms are transforming yacht booking, concierge services, and onboard management into seamless luxury experiences. Wellness features - such as spa decks, infrared saunas, and fitness studios - are being integrated into most new-build yachts. Artisanal craftsmanship and cultural personalization are emerging trends in custom interiors and themed decor for superyachts. Increasing ultra-high-net-worth individuals globally is expanding the buyer base for full ownership and high-end charters. Desire for privacy, autonomy, and safety is fueling interest in yachting as a post-pandemic lifestyle choice. Technological advancements in propulsion, materials, and navigation are enabling more efficient, sustainable luxury vessels. Expansion of marina infrastructure in emerging destinations is supporting luxury yacht operations and maintenance access worldwide. Environmental regulations and public scrutiny of emissions may pressure builders and owners to adopt costly green technologies faster. Shipbuilding bottlenecks, skilled labor shortages, and rising input costs can delay deliveries and increase customization expenses. Key Attributes: Report Attribute Details No. of Pages 150 Forecast Period 2025 - 2034 Estimated Market Value (USD) in 2025 $10.2 Billion Forecasted Market Value (USD) by 2034 $22.5 Billion Compound Annual Growth Rate 9.1% Regions Covered Global Companies Featured Ferretti S.p.A Azimut Benetti SpA Sanlorenzo S.p.a Feadship Princess Yachts Limited Fr. Lurssen Werft GmbH & Italian Sea Group Fincantieri S.p.A. Sunseeker International Brunswick Corporation Maritimo Factory A H Wadia Boat Builders XS Marines New Japan Yacht Co GHI Yachts Hyundai Yachts Co. Ltd Riviera Australia Pty. Ltd Australian Superyachts Pty Ltd HeySea Yachts Horizon Yacht Cheoy Lee Shipyards Ltd Changzhou Baote Yacht Co. Ltd Fujian Yihong Yacht Corp Hunan Blue Point Supply Chain Co. Ltd Burgess Yachts Damen Yachting Arksen U-Boat Worx AB Yachts Groupe Beneteau Alva Yachts Timeless Yachts Hatteras Yachts Westport Yachts YMCA Yachting Christensen Shipyards Ocean Alexander Alexander Marine USA Viking Yacht Company Quantum Sails Michael Rybovich & Sons Boatworks Burger Boat Company MCP Yachts Sterling Yachts Fibrafort Shipyard Delta Yachts Flexboat Construcoes Nauticas Ltda. Schaefer Yachts AS Marine Oryx Yachts Majesty Yachts Nomad Yachts Moonday Yachts Yerliyurt Marin Numarine Robertson & Caine Falcon Inflatables Dean Catamarans Almaroon De Birs Yachts Tiger Marine Luxury Yacht Market Segmentation By Type Sailing Yacht By Size 100-150 Meters Above 150 Meters By Hull Material Metals And Alloys Other Hull Materials By Application Private By Geography North America (USA, Canada, Mexico) Europe (Germany, UK, France, Spain, Italy, Rest of Europe) Asia-Pacific (China, India, Japan, Australia, Vietnam, Rest of APAC) The Middle East and Africa (Middle East, Africa) South and Central America (Brazil, Argentina, Rest of SCA) For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Luxury Yacht Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
CNN
20-05-2025
- CNN
First major piece of Bayesian superyacht recovered from seabed
Salvage crews have recovered the boom from the $40 million Bayesian luxury yacht, which sank off the coast of Sicily in August 2024, killing seven people, including British billionaire tech tycoon Michael Lynch and his 18-year-old daughter Hannah. The boom, which was connected to the 72-meter (236-foot) mast—one of the tallest on any sailboat—is the first known piece of debris to brought out of the water. On May 9, a 39-year-old Dutch specialist diver Robcornelis Maria Huijben Uiben died in an underwater explosion when trying to detach the boom from the vessel, Italian Coast Guard officials said. The recovery of the boom will be part of the forensic investigation into the diver's death, officials told CNN. The 55.9 meter (184-foot) yacht, which still has 18,000 liters of fuel onboard, went down in a sudden storm on August 19 while moored near Porticello, Sicily near Palermo. Fifteen people, including nine crew members, survived. British investigators, who were on the scene days after the accident, published a 'desktop' report last week in which they concluded that the ship sank due to structural problems with the vessel. Italian investigators have publicly dismissed the findings and have told local reporters that until the vessel can be examined once out of the water, no conclusion into the cause of the sinking can be determined. The ship is lying on its starboard side on the seabed, meaning no images have been taken of that part of the vessel to determine its condition. An official with Smit Salvage, which is part of the salvage team led by TMC Marine, told CNN that the hatches appear open, meaning the crew may not have battened down the hatches as the storm approached. One of the crew members posted a video of the storm in the distance, which investigators say shows that they were aware of the weather, according to the British report. No one has been charged with any criminal culpability in the accident, but the ship captain James Cutfield and two other crew members are under investigation for their role in the deaths of the passengers, which included one crew member. The vessel is thought to contain watertight safes in which Lynch kept highly encrypted hard drives. Investigators have told CNN that they cannot verify the existence of any safes or contents until the ship is brought out of the water. The timetable to lift the yacht from the seabed some 50 meters below the surface of the water originally stated that the mast and boom would be left on the seabed until after the hull of the luxury yacht is pulled out of the water. The boom was instead brought out first to aid in the investigation into the salvage diver's death. It is unclear when the mast, which is being cut from the vessel, will be pulled from the water. The hull of the yacht is scheduled to be brought up between May 26 and May 28, weather permitting. Once emptied of water, the wreckage will be lifted by crane to the port of Termini Imerese where it will be sequestered and examined by officials. A full report is expected by the end of the summer.
