Happy New Year - industry outlook looks positive - MarineBusinessWorld.com North America newsletter
by Peter Rendle 2 Jan 2025 12:00 PST
NMMA's FY2024 Year in Review report © National Marine Manufacturers Association
While 2024 was a tough year economically, the clouds are beginning to clear as the industry looks to brighter trading conditions. However, we start this newsletter with a summary of events during 2024 from the NMMA.
Throughout fiscal year 2024, the NMMA worked on behalf of recreational marine businesses in the U.S. and Canada on top strategic priorities, including advocacy and market expansion. This report looks back on the Association's and industry's highlights this year, including efforts related to government relations, Discover Boating, business intelligence, consumer and trade shows, engineering standards, membership trends and more.
On December 10, 2024, the Southeastern Legal Foundation (SLF) and the Texas Public Policy Foundation (TPPF) released a mini-documentary highlighting the effects of federal government overreach on coastal communities. The film focuses on the proposed vessel speed rule by the National Oceanic and Atmospheric Administration (NOAA) that would limit boat speeds to 10 knots off the Atlantic Coast, a speed slower than an average golf cart.
More politics. Two weeks ago, the Senate passed the Expanding Public Lands Outdoor Recreation Experiences (EXPLORE) Act. The House passed the legislation back in April of this year. The EXPLORE Act includes many priorities for the sportfishing community, including: Improves collection of recreation visitation data on federal lands and waters. Streamlines the permitting process for fishing guides and outfitters on public lands and waters. Supports inspection and decontamination of aquatic invasive species in federal waters. Improved access to fishing for active duty and retired members of the military and youth anglers. Supports economic development and infrastructure improvements in rural areas and gateway communities.
More than 1,400 marine industry professionals participated in the Marine Retailers Association of the Americas (MRAA) 2024 Dealer Week Conference and Expo, held Dec. 8-11 in Orlando, Fla., through either in-person attendance or Dealer Week Online. The in-person event featured the largest Expo Hall in event history with four education classrooms and 170 Expo Hall booths, including 55 first-time exhibitors and 34 boat manufacturers. The conference welcomed more than 500 dealer attendees. For those who missed the in-person event, Dealer Week Online registration is still open and will be available through March 1.
Electric propulsion companies are is still finding new applications. ePropulsion Americas, the global leader in marine electric propulsion systems and services, has announced its Navy 6.0 Evo and X12 has been selected as the electric propulsion option for Maxima Boats 620 and 630 model sloop tenders. The Maxima 620 and 630 tender sloops are well-balanced models that combine both the nostalgic and the modern. They feature a smooth hull shape with a rope fender and an integrated swim platform. The swim platform is ideal for convenient boarding and disembarking and also provides protection against the motor's propeller. With the motor mounted in the well, it offers peaceful, silent operation. This sloop is also efficient, thanks to its unique underwater hull design. The stability and good visibility of the vessels ensure that boaters feel extremely comfortable while cruising.
The Progressive Cleveland Boat Show, organized by the Ohio Marine Trades Association, have announced a landmark event celebrating the 150th anniversary of the iconic Lyman Boat Works. Visitors will have an exclusive opportunity to explore a comprehensive exhibit chronicling the company's rich history from Thursday, January 16 through Sunday, January 19, 2025. Established in 1875, Lyman Boat Works became a household name and celebrated for its superior craftsmanship and innovative designs. During World War II, the company played a critical role in producing vessels for military use, contributing significantly to the nation's war efforts. With dealers in every continental state, Lyman Boats became a fixture on waterways across America, especially the Great Lakes, fostering a deep nostalgic connection that endures today.
We look forward to providing the marine industry with continued coverage of industry news during 2025. Please submit news of your company that you would like to share at my email address below.
Stay upbeat.
Peter Rendle - peter.rendle@worldmarine.media