Boat Building
Description
Companies in this industry manufacture boats intended primarily for consumers' personal use, including inboard and outboard motor boats, sailboats, rowboats, yachts, and rubber and plastic inflatable boats. Major US companies include Brunswick, Malibu Boats, Marine Products, MasterCraft Boat Holdings, and Viking Yacht.
COMPETITIVE LANDSCAPE
Demand from end users depends on consumer income. The profitability of individual companies is linked to manufacturing efficiencies. Large companies have advantages in marketing and distribution. Small companies can compete by specializing in niche markets. The US industry is concentrated: the largest 50 companies generate about 75% of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major product segments of boat building companies include plastic motorboats and outboards, which account about 50%, wood or metal motorboats and outboard (about 25%), plastic center console motorboats and outboard (about 20%). Other products include wood or metal pontoon, fish and ski motorboats and outboard, inboard-outdrive boats.
Boat building facilities vary from a few thousand to more than 100,000 square feet, and outside storage areas may extend to several acres. Most manufacturing locations for larger boats are on navigable waterways, as the finished product can't easily be shipped over land. Other boat manufacturers locate as close to primary markets as possible to minimize the cost of transportation by road or rail.
Manufacturing facilities are set up with custom-built molds, jigs, and fixtures designed for the particular makes and models. Most boats are made of fiberglass, requiring carefully controlled use of resins, epoxies, and coatings. Basic construction consists of the multiple layering of fiberglass mesh over molds. Strength and flexibility characteristics are achieved by the specific combination of fiberglass with resins and epoxies, which are generally sprayed on. Custom builders perform this process by hand; high-volume manufacturers use robotics.
Smaller, less expensive boats are frequently made of aluminum. Structural components are made from extrusions, while exterior coverings are made from formed sheet.
The largest single material cost is the engine. Large boat builders, such as Brunswick and Yamaha, typically use engines made by operating divisions of the same parent company. Other companies purchase engines from suppliers.
In larger facilities, computers are used extensively in design and manufacturing. Companies compete through new design offerings that provide improved performance, passenger comfort, fuel efficiency, and cost-effectiveness. Many small boat builders still rely on highly skilled workers to produce custom boats.
The US boat building industry revenue reached about $16 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 7.8% from 2025 to 2032 period, according to Prescient and Strategic (P&S) Intelligence Market Research.
The US boat building industry includes about 860 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $10 billion.
Construction of commercial and military vessels is covered in the Shipbuilding & Repairing industry profile.
The US boat building industry includes about 860 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $10 billion.
Construction of commercial and military vessels is covered in the Shipbuilding & Repairing industry profile.
COMPETITIVE LANDSCAPE
Demand from end users depends on consumer income. The profitability of individual companies is linked to manufacturing efficiencies. Large companies have advantages in marketing and distribution. Small companies can compete by specializing in niche markets. The US industry is concentrated: the largest 50 companies generate about 75% of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major product segments of boat building companies include plastic motorboats and outboards, which account about 50%, wood or metal motorboats and outboard (about 25%), plastic center console motorboats and outboard (about 20%). Other products include wood or metal pontoon, fish and ski motorboats and outboard, inboard-outdrive boats.
Boat building facilities vary from a few thousand to more than 100,000 square feet, and outside storage areas may extend to several acres. Most manufacturing locations for larger boats are on navigable waterways, as the finished product can't easily be shipped over land. Other boat manufacturers locate as close to primary markets as possible to minimize the cost of transportation by road or rail.
Manufacturing facilities are set up with custom-built molds, jigs, and fixtures designed for the particular makes and models. Most boats are made of fiberglass, requiring carefully controlled use of resins, epoxies, and coatings. Basic construction consists of the multiple layering of fiberglass mesh over molds. Strength and flexibility characteristics are achieved by the specific combination of fiberglass with resins and epoxies, which are generally sprayed on. Custom builders perform this process by hand; high-volume manufacturers use robotics.
Smaller, less expensive boats are frequently made of aluminum. Structural components are made from extrusions, while exterior coverings are made from formed sheet.
The largest single material cost is the engine. Large boat builders, such as Brunswick and Yamaha, typically use engines made by operating divisions of the same parent company. Other companies purchase engines from suppliers.
In larger facilities, computers are used extensively in design and manufacturing. Companies compete through new design offerings that provide improved performance, passenger comfort, fuel efficiency, and cost-effectiveness. Many small boat builders still rely on highly skilled workers to produce custom boats.
Table of Contents
- Industry Overview
- Quarterly Industry Update
- Business Challenges
- Business Trends
- Industry Opportunities
- Call Preparation Questions
- Financial Information
- Industry Forecast
- Web Links and Acronyms
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