We expect the world will continue its current growth momentum with some booms and busts. We call this the “Status Quo” scenario. In another world, where primary interests shift to concern over resource limitation and environmental degradation, we will see a desire for a more sustainable world being developed, and fairness in wealth distribution. Government will act to forge agreement for common goods. We call this the “Global Commons” scenario.
In a further world, where the voice of the people is not heard (or not
expressed), the state will mainly act in its own national interest. There will be little effort to forge agreement amongst governments for sustainable development and international norms. This is a zero sum world and we call this future a “Competing Nations” scenario.
World trade relies on ships and the cargoes they carry, and the service industries that support them, as well as the security provided by navies. Without ships and navigable seas there is no globalisation. Shipping, as the enabler of trade, will be shaped by the major economic and social forces described in the report.
By developing and modelling a future based on the scenarios chosen in this significant piece of work, the GMT 2030 team hopes to provide all who are interested in the future of maritime trade with some useful insights into where our world might be going - and how the marine industries will be affected.
The value of refit paintwork is estimated to grow faster than the number of projects, due to the increasing size of superyachts within the global fleet. Market estimates suggest that the current annual value of the refit paint market is c.€233m and will grow to an estimated c.€285m by 2024 (CAGR 3.4%).
Superyacht sustainability ‘Environmentally friendly’, ‘lowering emissions’, ‘saving our seas’ – these kinds of phrases will become even more frequently used within the yachting industry as we progress through the next ten years as moves are underway to improve sustainability.
In recent years, sustainability has become a crucial consideration and necessity rather than a trend. The concern surrounds many business sectors, and individuals, and as people have become more aware of the importance of sustainability, the need for sustainability has really started to take off.
Due to the limited number of resources worldwide, it’s essential that yacht designers step-up the search for new and sustainable materials that can be used to build superyachts.
• Manufacturers are incorporating joystick piloting for enhanced manoeuvrability, aiding better recreational boating operations.
• Many companies are involved in development of advanced boats equipped with safety features and enhanced engine capacities.
• Manufacturers are also investing in R&D activities for the development of sustainable recreational boating like never before.
Source: Global Marketing Insights
General thoughts on the impact of COVID-19 on boating As we swing into and out of the COVID-19 pandemic shutdown, societal easing has started nudging certain sectors of the economy (and that includes boating) in a very positive way. If the positive trend is a lasting one is hard to predict yet. Areas across the United States have opened as positive coronavirus cases slowly decrease. Boat sales are reported to be 60% up on the previous year. The same is true in the UK and Europe, although at the time of writing, a second spike is looking likely as cases soar.
So, it is not surprisingly that boating has emerged as a safe form of outdoor recreation and an ideal social distancing activity for many families.
After months of being cooped up, people are looking for ways to stay in their family unit while engaging in more exciting adventures. Boat dealers, brokers and manufacturers have seen brisk boat sales follow as a result.
Sales of small boats have boomed across the world and many brokers are
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