Research Reports
Yacht Charter Market Estimated to Flourish at by 2021-2031
Yacht Charter Market Estimated to Flourish at by 2021-2031
Published by mark itwired
Posted on August 26, 2021
Global yacht charter
sales is expected to grow at a healthy CAGR of over 5.4% during the forecast
period 2021-2031, according to a study by ESOMAR-certified market research
firm, Future Market Insights (FMI). The study tracks yacht charter sales in 20+ countries, offering a lucid
analysis on how growth trend will unfold.
Market players have been
attempting to provide advanced yacht for charter as they have realised the
value of incorporating cutting-edge technology. As a result, existing players
are increasingly attempting to preserve full operational transparency and
deliver advanced smart yachts with a range of smart technologies to offer
multifunctional areas and spaces, main saloon, and beach clubt.
To
Get Sample Copy of Report Visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-543
For instance, the sensational
mega yacht LANA (107m/351.1ft) from Italian shipyard Benetti embraces art deco
dignity and seamlessly blends it with the sporty curves, pale colours, and
various textures of contemporary architecture. Guests will enjoy a beautiful
beach club with fold-down terraces, a hammam-style spa and a gym, as well as
big lounges with cinema-style seating.
Apart from that, yachts spend the majority of their time
cruising within reach of the coast. As a result, the players are investing to
make 4G LTE and 5G networks more available than ever before, offering cost-effective
high-bandwidth connectivity to consumers on board through bonded 5G compliant
data systems.
Such offerings entice customers to spend long hours with their
families and friends, or to make their holidays memorable. All aspects of a
luxury yacht, including navigation, safety, and extraordinary convenience, are
improving due to new technologies.
For example, DLBA Naval Architects have developed a
self-sailing superyacht. Tempo, the yacht, will incorporate
artificial intelligence (AI) into various aspects of its architecture. This
will not only boost the on-board experience, but it will also mean that certain
systems will be able to function without the need for human intervention.
Another factor that is expected to boost the growth of the yacht
charters is the short-term rentals, which typically last one to three days and
are not affected by seasonality, a factor that limits the number of days
available for renting yachts. With the rising demand for short-term rentals,
yacht charter service providers are concentrating on regular rental rates for
two-day yacht charters, which are usually 40-50 percent of the weekly fare.
For More Details,
Ask Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-543
Key Takeaways from the Yacht
Charter Market Study
- The yacht charter market is forecast to rise at a CAGR of 5.4%
between 2021 and 2031. - High spending on luxury vacations catapults the U.S. as a key
market. - Demand in Thailand will continue rising in response to the
expanding tourism sector - Indonesia and Maldives will emerge as popular yacht charter
destinations in Asia Pacific - Demand in GCC countries will rise at above 7% CAGR between 2021
and 2031
“Leading players in the global yacht charter market are
nvesting in cutting-edge yacht interiors, such as the use of one-of-a-kind
textiles and fabrics with an emphasis on sustainability to match the yacht
aesthetic. Unique motor and sailing yachts with new decor, woodwork, and
beautiful lighting are introduced by businesses,” says an FMI analyst.
Impact of COVID-19 on the Market:
Before the COVID-19 pandemic, there was a moderate rate of
growth in the demand for yacht charter globally. After the pandemic, major
global markets have faced dual impacts. The demand for technology-driven motor
yacht has increased due to its variety of benefits. But with stay-at-home
orders and safer-at-home advisories issued across the world the demand of the
yacht charter has decelerated in response to the implementation of various
restrictions. The restrictions were also imposed on the tourist places such as
Indonesia, Malaysia, the U.K. and the U.S.
Who is winning?
Some of the key players present in the yacht charter market are
NORTHROP & JOHNSON, Yachtico Inc., Sailogy S.A., Sweet Escape Yacht
Charters, ARGO NAUTICAL LIMITED, Burgess, Sunseeker , Royal Yacht
International, Ionian Catamarans and IYC, Mooring Company, and Zizooboats GmbH,
among others. Extensive discount offerings on the yacht charters during the
seasons and on some events such as corporate parties or pre-wedding shoots and
other such events has driven a desire among end consumers to opt for the
charters embedded with smart technologies.
Architects and builders are looking for natural and
green-certified construction materials. Alternative energy sources such as the
sun, wind, and waves can now be harnessed with the help of technological advancements.
The use of wastewater treatment methods and compostable supplies, as well as
recycling and the removal of unnecessary plastic waste, are all employed. The
players are concentrating their efforts on providing environmentally friendly
yachts in order to contribute to long-term initiatives. For instance, the Black
Pearl is an environment friendly private yacht that was recently awarded a Boat
International Design and Innovation Prize. When the boat is sailing,
electricity is provided and sent back to the batteries, so the hybrid
diesel-electric engine does not need a charging station.
In 2019, Feadship Company introduced 75-meter motor yacht 703
‘Arrow’ for charter at its Aalsmeer shipyard. H2 Yacht Design produced the
company’s Arrow yacht.
Get Valuable Insights into Yacht Charter Market
- Future Market Insights, in its new offering, provides an
unbiased analysis of the global yacht charter market, presenting historical
demand data (2016-2020) and forecast statistics for the period from 2021-2031.
The study divulges compelling insights on the yacht charter market based on the
yacht type (Sailing yacht & Motor Yacht), Size (Small – up to 30m, Medium
-30m-50m and Large -over 50m), Consumer Type (Corporate & Retail Type)
across seven major regions.
Summary
According to Future Market Insights’ recent market report titled
“Global Yacht Charter Market: Global Industry Analysis 2016-2020 and
Opportunity Assessment 2021-2031”, is expected to show favourable growth and
opportunity trends. Yacht charters are used to sail to a variety of coastal and
island locations. This is generally a leisure activity, but it may also be used
for the business events.
Customers from all over the world, regardless of the season, are
becoming increasingly involved in chartering yachts on weekends after a long
week. With the increased demand for short-term rentals, yacht charter companies
are focusing on daily rental rates for two-day yacht charters, which are
usually half the price of a week’s charter. Customers can book their boat trips
at the same time as their plane tickets.
Apart from that, customers prefer online yacht booking services
because they allow for quicker and more customised bookings at a lower cost
than offline platforms or via travel agents. Prominent tour and travel
companies are partnering with online yacht charter service providers to provide
combined yacht and airline packages.
For example, within the Sabre travel marketplace, the Yachtico
Company introduced an app that enables travel agencies to book yacht and boat
charters. The Yachtico app, which is now accessible via the Sabre Red App
Centre, gives travel agents access to a database of 16,000 professionally
operated yachts. Apart from that the players are even providing exclusive
offers such as discounts on charters.
For instance, NetJets Inc. announced a strategic alliance with
Northrop & Johnson in September 2019 to provide yachting enthusiasts with a
superior travel experience and a variety of exclusive offers.
Global yacht charter
sales is expected to grow at a healthy CAGR of over 5.4% during the forecast
period 2021-2031, according to a study by ESOMAR-certified market research
firm, Future Market Insights (FMI). The study tracks yacht charter sales in 20+ countries, offering a lucid
analysis on how growth trend will unfold.
Market players have been
attempting to provide advanced yacht for charter as they have realised the
value of incorporating cutting-edge technology. As a result, existing players
are increasingly attempting to preserve full operational transparency and
deliver advanced smart yachts with a range of smart technologies to offer
multifunctional areas and spaces, main saloon, and beach clubt.
To
Get Sample Copy of Report Visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-543
For instance, the sensational
mega yacht LANA (107m/351.1ft) from Italian shipyard Benetti embraces art deco
dignity and seamlessly blends it with the sporty curves, pale colours, and
various textures of contemporary architecture. Guests will enjoy a beautiful
beach club with fold-down terraces, a hammam-style spa and a gym, as well as
big lounges with cinema-style seating.
Apart from that, yachts spend the majority of their time
cruising within reach of the coast. As a result, the players are investing to
make 4G LTE and 5G networks more available than ever before, offering cost-effective
high-bandwidth connectivity to consumers on board through bonded 5G compliant
data systems.
Such offerings entice customers to spend long hours with their
families and friends, or to make their holidays memorable. All aspects of a
luxury yacht, including navigation, safety, and extraordinary convenience, are
improving due to new technologies.
For example, DLBA Naval Architects have developed a
self-sailing superyacht. Tempo, the yacht, will incorporate
artificial intelligence (AI) into various aspects of its architecture. This
will not only boost the on-board experience, but it will also mean that certain
systems will be able to function without the need for human intervention.
Another factor that is expected to boost the growth of the yacht
charters is the short-term rentals, which typically last one to three days and
are not affected by seasonality, a factor that limits the number of days
available for renting yachts. With the rising demand for short-term rentals,
yacht charter service providers are concentrating on regular rental rates for
two-day yacht charters, which are usually 40-50 percent of the weekly fare.
For More Details,
Ask Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-543
Key Takeaways from the Yacht
Charter Market Study
- The yacht charter market is forecast to rise at a CAGR of 5.4%
between 2021 and 2031. - High spending on luxury vacations catapults the U.S. as a key
market. - Demand in Thailand will continue rising in response to the
expanding tourism sector - Indonesia and Maldives will emerge as popular yacht charter
destinations in Asia Pacific - Demand in GCC countries will rise at above 7% CAGR between 2021
and 2031
“Leading players in the global yacht charter market are
nvesting in cutting-edge yacht interiors, such as the use of one-of-a-kind
textiles and fabrics with an emphasis on sustainability to match the yacht
aesthetic. Unique motor and sailing yachts with new decor, woodwork, and
beautiful lighting are introduced by businesses,” says an FMI analyst.
Impact of COVID-19 on the Market:
Before the COVID-19 pandemic, there was a moderate rate of
growth in the demand for yacht charter globally. After the pandemic, major
global markets have faced dual impacts. The demand for technology-driven motor
yacht has increased due to its variety of benefits. But with stay-at-home
orders and safer-at-home advisories issued across the world the demand of the
yacht charter has decelerated in response to the implementation of various
restrictions. The restrictions were also imposed on the tourist places such as
Indonesia, Malaysia, the U.K. and the U.S.
Who is winning?
Some of the key players present in the yacht charter market are
NORTHROP & JOHNSON, Yachtico Inc., Sailogy S.A., Sweet Escape Yacht
Charters, ARGO NAUTICAL LIMITED, Burgess, Sunseeker , Royal Yacht
International, Ionian Catamarans and IYC, Mooring Company, and Zizooboats GmbH,
among others. Extensive discount offerings on the yacht charters during the
seasons and on some events such as corporate parties or pre-wedding shoots and
other such events has driven a desire among end consumers to opt for the
charters embedded with smart technologies.
Architects and builders are looking for natural and
green-certified construction materials. Alternative energy sources such as the
sun, wind, and waves can now be harnessed with the help of technological advancements.
The use of wastewater treatment methods and compostable supplies, as well as
recycling and the removal of unnecessary plastic waste, are all employed. The
players are concentrating their efforts on providing environmentally friendly
yachts in order to contribute to long-term initiatives. For instance, the Black
Pearl is an environment friendly private yacht that was recently awarded a Boat
International Design and Innovation Prize. When the boat is sailing,
electricity is provided and sent back to the batteries, so the hybrid
diesel-electric engine does not need a charging station.
In 2019, Feadship Company introduced 75-meter motor yacht 703
‘Arrow’ for charter at its Aalsmeer shipyard. H2 Yacht Design produced the
company’s Arrow yacht.
Get Valuable Insights into Yacht Charter Market
- Future Market Insights, in its new offering, provides an
unbiased analysis of the global yacht charter market, presenting historical
demand data (2016-2020) and forecast statistics for the period from 2021-2031.
The study divulges compelling insights on the yacht charter market based on the
yacht type (Sailing yacht & Motor Yacht), Size (Small – up to 30m, Medium
-30m-50m and Large -over 50m), Consumer Type (Corporate & Retail Type)
across seven major regions.
Summary
According to Future Market Insights’ recent market report titled
“Global Yacht Charter Market: Global Industry Analysis 2016-2020 and
Opportunity Assessment 2021-2031”, is expected to show favourable growth and
opportunity trends. Yacht charters are used to sail to a variety of coastal and
island locations. This is generally a leisure activity, but it may also be used
for the business events.
Customers from all over the world, regardless of the season, are
becoming increasingly involved in chartering yachts on weekends after a long
week. With the increased demand for short-term rentals, yacht charter companies
are focusing on daily rental rates for two-day yacht charters, which are
usually half the price of a week’s charter. Customers can book their boat trips
at the same time as their plane tickets.
Apart from that, customers prefer online yacht booking services
because they allow for quicker and more customised bookings at a lower cost
than offline platforms or via travel agents. Prominent tour and travel
companies are partnering with online yacht charter service providers to provide
combined yacht and airline packages.
For example, within the Sabre travel marketplace, the Yachtico
Company introduced an app that enables travel agencies to book yacht and boat
charters. The Yachtico app, which is now accessible via the Sabre Red App
Centre, gives travel agents access to a database of 16,000 professionally
operated yachts. Apart from that the players are even providing exclusive
offers such as discounts on charters.
For instance, NetJets Inc. announced a strategic alliance with
Northrop & Johnson in September 2019 to provide yachting enthusiasts with a
superior travel experience and a variety of exclusive offers.
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