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Flybridge Yacht Market: Introduction

  • Rise in preference for leisure or recreational activities among consumers and increasing fishing trends in developed countries is boosting the utilization of flybridge on yacht or boats, which in turn is expected to drive the flybridge yacht market.
  • The flybridge is considered as an open deck that is above the main bridge of the yacht and is equipped with duplicate boat controls. Flybridge yachts are motor controlled and are widely used in warmer climates. The flybridge is extensively utilized while fishing; once the fish is locked in lucky angler, the flybridge is used to move the boat and angle fishing. Most fishing yachts have a flybridge, which proves beneficial while fishing.

Key Drivers of Flybridge Yacht Market

  • Rising inclination of consumers toward recreational activities and increasing disposable income boost the flybridge yacht market. Consumers are preferring exclusive travel destinations for their holidays and spending huge amounts on luxury, which is a major factor propelling the market. Moreover, manufacturers of yachts are focusing on the integration of luxurious features and offering improved performance and customer experience, which in turn is further boosting the rate of adoption of flybridge yachts.
  • Flybridge yachts are motor operated, which offer high power and speed, and can cover large distance. Furthermore, these yachts have advanced equipment, which is a major factor fueling the flybridge yacht market. Additionally, a fuel based flybridge yacht can also use renewable energy sources such as wind and solar energy that reduces emission from the yacht and increases consumer preferences to opt for a flybridge yacht.

Challenges in Flybridge Yacht Market

  • Demand for flybridge yachts is seasonal, as they are not preferred during rainy season due to increasing storms and extreme weather conditions. This hampers the market.
  • The outbreak of the COVID-19 pandemic prompted governments to initiate lockdowns across the world that led to the closure of all the holiday destinations and the global tourism industry was disrupted, which restrained the market. Government regulations restricted the gathering of people, which in turn reduced the usage of private as well as rental yachts. Moreover, disturbed supply chain hindered the supply of raw material that is required for manufacturing of yachts. A steady recovery of demand for flybridge yacht is anticipated in the near future, as most people are vaccinated and tourist spots are re-opening.

Opportunities in Flybridge Yacht Market

  • Increasing technology advancements in IoT and telematics of yachts and rising use of yachts in recreational activities are expected to propel the flybridge yacht market during the forecast period. Moreover, the flybridge yacht is also employed for fishing, and a rising preference for recreational fishing is prompting most private and rental yachts to install flybridge, which in turn is estimated to further drive the market.
  • Rising demand for water sports events in North America is expected to boost the market. Increase in year-on-year number of participants in marine sporting events by OEMs, trade shows on yachts, and water recreational activities is estimated to boost the flybridge yacht market. Furthermore, expansion of the marine tourism industry also propels the market.

Flybridge Yacht Market in Europe to Expand Significantly

  • The flybridge yacht market in Europe is estimated to expand significantly, as the region witnesses an increased sales of yachts and growing popularity of fishing and water sports. Moreover, rising attractiveness and supportive government policies in marine tourism are likely to boost passenger traffic in the coastal regions across Europe. Increase in investments in the coastal regions and several other marine recreational activities such as free diving, scuba diving, fishing, and snorkeling also propel the use of flybridge yachts. Additionally, Europe is home to a high number of high-net-worth individual (HNWI), who can buy their own yacht and flybridge for existing yachts with technologically advanced features. Furthermore, original equipment manufacturers based in Europe are investing in yachts for luxurious amenities and high-tech interiors, which further drives the market in Europe. Additionally, the market in Asia Pacific is projected to expand at a rapid pace during forecast period due to a rise in disposable income of customers and improved living standards that improve tourism preferences of consumers in the region.

Key Players Operating in Flybridge Yacht Market

The flybridge yacht market is moderately consolidated. A few of the key players operating in the global flybridge yacht market are:

  • Mulder Shipyard
  • Ada Yachting and Tourism Limited
  • Warwick Yacht Design
  • Sunseeker International
  • Ferretti S.p.A.
  • Majesty Yachts - Sovereign Super Yachts
  • Azimut Benetti S.p.A.
  • Heesen Yachts Sales B.V.
  • The San Lorenzo S.p.a
  • Princess Yachts Limited

Global Flybridge Yacht Market: Research Scope

Global Flybridge Yacht Market, by Yacht Type

  • Monohull
  • Multihull

Global Flybridge Yacht Market, by Yacht Length

  • Up to 20 Meters
  • 20-50 Meters
  • Above 50 Meters

Global Flybridge Yacht Market, by Application

  • Personal Use
  • Commercial Use
  • Others

Global Flybridge Yacht Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Nordic Region
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Flybridge Yacht Market