State of recreational boating report released - MarineBusinessWorld.com North America newsletter
by Peter Rendle 15 Jan 12:00 PST
Winter boat show buying season © National Marine Manufacturers Association
American-made boats and related services are economic drivers for local communities and small businesses, and attract millions of Americans seeking outdoor experiences.
To coincide with the start of the winter boat show season, the NMMA distributed a state of the recreational boating industry business release to local, regional and national media outlets this week. In the release, NMMA reported total new powerboat retail unit sales in 2024 declined an estimated 9%-12%, to approximately 230,000-240,000 units in the U.S. Throughout 2024, the industry continued to normalize following record demand during the Covid pandemic while navigating persistent inflationary pressures and rising interest rates.
Register now for the annual NMMA Canada State of the Industry Breakfast taking place during the Toronto International Boat Show on Tuesday, January 21, at the Beanfield Centre (Exhibition Place). Join industry colleagues to gain insights into current trends in the recreational boating industry, including Wells Fargo Economist Nick Bennenbroek. The 2024 NMMA Canada Hall of Fame Induction Ceremony will take place during the breakfast.
The Lieutenant Governor of Massachusetts, Kim Driscoll, attended the Discover Boating New England Boat Show's opening night party, addressing a crowd of more than 125 boaters and industry stakeholders about the importance of recreational boating to the Commonwealth of Massachusetts and how critical the New England Boat Show is to the industry. "We are really dedicated to making sure that this show is successful, for all of you, but certainly it makes a huge part of our economy," noted Driscoll. "Last year, we had 372 jobs we attributed directly to the show's five-day run, garnered $13.8 million in labor income, and brought in over $28 million to the state's annual gross delivery. This boat show is meaningful."
MarineMax Panama City Beach announced the strengthening of its long-term partnership with Treasure Island Marina. This cherished family-owned business has served Bay County for nearly 50 years. Under the new agreement, MarineMax has acquired the service and parts departments, further solidifying its commitment to delivering exceptional service and support to boaters. Additionally, pursuant to the agreement, MarineMax added multiple renewals to its existing lease, ensuring continued collaboration to support the boating community in the region. Under this renewed agreement, MarineMax will remain the premier boat dealer on Treasure Island Marina's 12-acre waterfront property.
Vision Marine Technologies (Nasdaq: VMAR), a leading innovator in electric marine propulsion, announces the establishment of a production line for custom cooling plates in partnership with Calip Group, a leader in high-tech welding processes. Under this collaboration, Calip Group will supply components that enhance the thermal management of Vision Marine's high-voltage marine battery packs. These custom cooling plates are specifically tailored to meet the stringent demands of marine applications, with production slated to begin in 2025.
California-based performance instrument maker, Velocitek, has announced the RTK Puck, a stern mounted GPS receiver - delivering pingless distance to start, synchronized time to start, position, and heading with unprecedented accuracy. Building on over two years of development and successful proof-of-concept deployments at the New York Yacht Club and St. Francis Yacht Club, the Velocitek RTK Puck sets a new standard for race management. The system utilizes RTK (Real-Time Kinematic) GPS technology to achieve an astonishing 1.8 cm positional accuracy - far surpassing the tolerances of conventional systems, which can vary by up to 1 meter.
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Peter Rendle - peter.rendle@worldmarine.media