In this article we will list 15 best luxury yacht builders and shipyards in the world. You may be interested in searching for 15 Best Boat/Yacht Insurance Companies Heading into 2024, too.
Luxury Yacht Builders Rebound Post-Pandemic
According to a study from the Italian Marine Industry Association and Deloitte, the global new build yachting market has reached €33 billion ($35.9 billion) during the industry boom in 2022. This marks an 11% increase from the year before, and a CAGR of 10% since 2014. Increasing prices, along with increasing demand from customers, has been responsible for this positive growth. According to the study, Europe and North America are the biggest consumer groups, taking up 70% of the total market share. Italy remains at the top in yacht building, generating €4.4 billion in yacht production value for 2022.
Despite the positive growth, superyacht sales have taken a dive in 2023, the new SuperYacht Times’ State of Yachting report indicates. Long wait times, rising costs, and the exclusion of Russian oligarchs from the superyacht market have all led to this decline. There were 203 superyacht sales in 2023, down from 245 in 2022, and from a record 313 in 2021. A buyer placing an order for a new yacht over 200 feet today has to wait three to four years owing to backlogs from the pandemic. Orders for yachts between 200 t0 600 feet have experienced the most decline, by 40%, largely since the rich buyers from Russia are dropping out of the market. Despite the drop in new sales, yacht completions have been up. According to SuperYacht Times, there are now nearly 6,000 super yachts, triple the number in 2022.
It wasn’t simple to make a list of the world’s best yacht builders and shipyards in the world, especially now when it seems that the superyacht business has regained its momentum. Following the pandemic’s upheaval, boat builders have resumed normal operations. There are now 173 small yacht manufacturers and large builders in 25 countries working on at least one yacht larger than 24m. Every year, around 400 boats larger than 24m are supplied to their owners by luxury yacht companies that specialize in yacht categories or product segments that distinguish them from other commercial shipyards. Experts believe that there are currently around 5,000 boats larger than 24 meters navigating the world’s oceans.
The Netherlands and Germany leads the yachting sector in terms of providing yachts larger than 50m with high volume and value. Some other yacht builders in the world include those in Turkey, Asia, North America, South Africa, Oceania, and Brazil. Turkish shipyards are now building motor and sailing yachts out of GRP and steel, North America has turned its focus on semi-custom motor yachts, Asia is known to be a hub for production series motor yachts made from GRP, while the top builder nation Italy excels in larger yachts and more customizable options.
When it comes to the US, United States Luxury Yacht Market is expected to reach USD 4.45 billion in 2024 and grow at a CAGR of 8.25% to reach USD 6.61 billion by 2029. On the list of yachth-related companies, Marine Max, Inc. (NYSE: HZO) is a known name, with a $750 million market capitalization. The total enterprise value is $1.76 billion. The corporation is headquartered in Florida and employs an estimated 2,666 people. In the United States, the company has a significant market share in at least one area as a boat dealership and repair company, where they account for an estimated 6.4% of total industry sales. They are classified as an All-Star and one of the best luxury yacht brands because they have a higher market share, profit, and revenue growth than their competitors.
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Methodology
To compile a list of the premier luxury yacht builders and shipyards globally, we undertook a comprehensive comparison of leading companies with those recognized for producing the most esteemed and high-value yachts. Our methodology involved cross-referencing top-rated yacht lists with data on their builders. By aggregating the frequency of mentions across lists such as IYC Yacht, YachtWorld, Elite Traveler, amongst others; we established a preliminary ranking. Subsequently, we assessed these companies based on the prominence of their yachts on industry-leading rankings and their annual revenue. This analysis revealed that the top-ranked companies distinguished themselves not only through frequent appearances on prestigious lists but also through exceptional performance across various metrics.
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This is how our list of the best luxury yacht builders and shipyards in the world looks like.
15. Princess Yachts
Insider Monkey Score: 2
Princess Yachts was founded in 1965 in a modest industrial unit on Newport Street in Plymouth. Since then, Princess has become one of the top luxury yacht builders and shipyards in the world. South African businessman Graham J. Beck bought the company in 1981. In 2001, Marine Projects changed their name to Princess Yachts International PLC. Princess Yachts operates in 119 countries and employs over 3,200 people worldwide, with shipyards totaling over 1.1 million square feet.
14. Perini Navi
Insider Monkey Score: 2
Perini Navi specializes in superior craftsmanship of some of the world’s largest super sailing yacht builders. Their constant growth in the design, engineering, and construction of aluminum superyachts has propelled them to the industry leader in the large, custom super sailing yacht sector. Fabio Perini started Perini Navi in 1983 in Viareggio, Italy. Unable to find a huge sailing yacht that he could run alone, Fabio founded a firm to build and engineer his own vessel, launching a prototype sailing yacht with plenty of living space that could be sailed with a smaller crew. In 2021 Perini Navi became a part of The Italian Sea Group which increased the portfolio in 2023 to six companies.
13. Delta Marine
Insider Monkey Score: 2
In 1967, brothers Jack and Ivor Jones launched Delta Marine on Seattle’s Duwamish River. The shipyard initially focused on producing fishing boats that could withstand the frequently harsh waters of the Pacific Northwest and became one of the best small yacht brands. Delta Marine’s success in the fishing industry inspired the shipyard to create luxury expedition ships capable of transporting their customers north to Alaska, west to the Pacific islands, and around the globe. Delta Marine shifted their focus to custom superyachts in the 1990s.
12. Fincantieri Yachts
Insider Monkey Score: 2
Fincantieri Yachts, an Italian shipyard and now one of the best luxury yacht builders and shipyards in the world, has been around since 1780. The first shipbuilding enterprise was founded in Castellammare di Stabia, and it served as the foundation for the world-renowned corporation. By the mid-twentieth century, the business had become part of the state-owned IRI and was in charge of the country’s primary shipbuilders; Fincantieri Yachts was established as a separate branch in 1984. The shipyard has established itself as a multifaceted entity. Fincantieri’s facilities are now building military ships, including submarines, passenger and industrial vessels, as well as a new market area, megayacht construction, which began in 2005.
11. Royal Huisman
Insider Monkey Score: 2
Royal Huisman is a Dutch shipbuilding company that specializes in the new build, refit, rebuild, and renewal of sailing and motor yachts. The shipyard in Ronduite was founded in 1884 to produce wooden workboats and fishing boats. Jan Huisman began building steel sailing boats in 1954, and his son Wolter converted to aluminum hulls in 1964 with the 30 ft Van de Stadt Avenir series. In celebration of the shipyard’s 100th anniversary in 1984, Queen Beatrix of the Netherlands bestowed the title “Royal” to Huisman, renaming the company Royal Huisman.
10. Sanlorenzo
Insider Monkey Score: 3
Sanlorenzo Shipyard has been producing high-quality motorboats since 1958. It is a yachting boutique enterprise that produces only a small number of custom yachts each year. Each boat is custom-designed and built to meet the owner’s exact needs, style, and preferences. The shipyard’s headquarters are located on the banks of the Magra River, within the Montemarcello-Magra Natural Reserve, near Ameglia, province of La Spezia, Liguria, Italy. Since its founding, the firm has manufactured just roughly 1000 ships, each one special and unique. Since 2005, the organization has adopted a fresh approach to personalization and innovation. As a result, the shipyard has expanded significantly. Over the last eight years, the company has gradually established itself in Boat International’s annual Global Order Book rating.
9. Blohm & Voss
Insider Monkey Score: 3
The German shipyard Blohm+Voss was named after its founders, Hermann Blohm and Ernst Voss, who chose to join forces in 1877 to construct steel steamers. Hermann Blohm and Ernst Voss, the founders of the Blohm & Voss-Werft, rose to prominence far beyond Hamburg. Unfortunately, after several dismal seasons in the 2000s, the company discontinued creating new yachts. As part of Lürssen, the shipyard will no longer manufacture boats, but will continue and even increase its yacht refit, commercial, and military building activities. The firm is on this list because their boats are consistently on the list of the best boats, and three of their boats are among the best ever built.
8. Heesen
Insider Monkey Score: 4
Heesen Yachts is one of the best luxury yacht builders and shipyards in the world, being a Dutch shipbuilding firm that specializes in custom-built superyachts. Founded in 1978, it has launched over 200 yachts, several of which have received prizes. It is recognized as a global leader in the design, construction, and engineering of all-aluminum boats. After a string of popular and pricey boats, 1988 proved to be the yard’s breakthrough year. American entrepreneur John Staluppi had commissioned the yard to build a superyacht capable of speeds exceeding 50 knots. Heesen expanded in 2003, the same year it introduced its 3700 and 4400 yacht series, which were among the first examples of superyacht building on a shared hull and engineering platform.
7. Abeking & Rasmussen
Insider Monkey Score: 4
Abeking and Rasmussen is a luxury yacht constructor that specializes in big custom motor yachts constructed from steel. The company has previously built sailing boats, maritime vessels, and swath vessels. Georg Abeking and Henry Rasmussen formed the company in 1907. The business began producing navy warships such as torpedo boats, minesweepers, and submarine destroyers. Later, the firm began constructing speedboats and sailing yachts. The yard has a reputation for pioneering new technologies, having manufactured some of the world’s most technically advanced yachts. Many of the projects they have created are notable for overcoming technical engineering obstacles, such as Germania VI in 1963, the first sailing yacht with a welded aluminium hull, and the 1972 motor yacht Kalamoun, the world’s fastest at the time, hitting 46 knots. The Krupp Foundation still owns their latest yacht, Germania VI.
6. Ferretti
Insider Monkey Score: 4
Norberto and Alessandro Ferretti, brothers from Bologna, Italy, expanded their family’s successful luxury auto business, which marketed Maserati and Lamborghini, by opening a yacht dealership in 1968. The Ferretti brothers initially marketed other boat builders, but during the Genoa Boat Show in 1971, they debuted their first yacht design, a 10-meter wooden motorsailer. Ferretti boats, the first member of the Ferretti Group of international luxury yacht brands, manufactures semi-custom composite boats in Forli, Italy, ranging in size from 16 to 29 meters. The Ferretti Yachts 960 type, introduced in 2013, is the largest planing luxury yacht ever built by any of the Ferretti Group shipyards. Ferretti Group is listed on the Hong Kong Stock Exchange since 2022 and debuted on Euronext Milan, the Milan-based stock exchange owned by Borsa Italiana. In 2023, the company became the first and only company in the world to achieve dual listing in Asia and Europe which qualified the company for the list of the best luxury yacht builders and shipyards in the world.
5. Azimut/Benetti
Insider Monkey Score: 5
Azimut Yachts began in 1969 when Paolo Vitelli established Azimut Srl and began chartering sailboats. In 1970, the ‘Amerglass’ yacht brand chose the company to distribute its boats in Italy. Azimut extended its operations in 1979, beginning with the design of new yachts. Benetti yachts producing company is an Italian shipbuilding and boatbuilding enterprise headquartered in Viareggio, Livorno, and Fano. The company experienced financial troubles from 1980 until 1984, when it was purchased by Paolo Vitelli, the owner of Azimut, and renamed Benetti Shipyard. In 1988, Benetti built a ship to compete for the transatlantic Blue Riband award, but its efforts were unsuccessful.
4. Nobiskrug
Insider Monkey Score: 5
In 1905, Otto Stork established one of the best luxury yacht builders and shipyards in the world, the Nobiskrug shipyard, in Rendsburg, Germany. Nobiskrug, a ship and luxury yacht constructor, launched numerous unique vessels in the twentieth century, notably the 138M German navy training ship Deutschland. In 2005, the shipyard completed building a high-tech 160m superyacht shed to support future custom superyacht construction. With over 115 years of experience in building seagoing vessels, the company transitioned to yacht building in 2000 with the 92m Tatoosh. Since then, Nobiskrug has delivered a limited portfolio of unique custom-built superyachts, demonstrating the company’s commitment to building superyachts that will last decades. The delivery of Sailing Yacht A confirmed the German shipyard’s dominant position.
3. Oceanco
Insider Monkey Score: 6
Oceanco, a privately owned custom yacht builder based in the Netherlands, was founded in 1987 by a group of South African private investors led by then-CEO Richard Hein. The hulls and superstructures were manufactured in Durban, South Africa. The yachts were subsequently moved to various facilities in the Netherlands for final finishing work. Oceanco fully found its stride in 2002, when Greek steel and shipping mogul Theodore Angelopoulos took over the company. He set Oceanco on a new course, adopting a marketing strategy that focused solely on the 80m+ megayacht industry, making the company one of the best yacht brands. The company’s experienced designers created the “Y Generation” of Oceanco Yachts, which quickly gained popularity.
2. Feadship
Insider Monkey Score: 6
Feadship was founded in 1949 as a marketing collaboration between six Dutch shipyards with the goal of promoting superyachts to customers in the United States. The size of the boats delivered by Feadship increased as the company’s success developed in the United States and around the world throughout the twentieth and twenty-first centuries. Celebrity owners like magazine editor Malcolm Forbes, who commissioned the 46-meter superyacht Highlander, helped to boost Feadship’s profile and put it on the list of the best luxury yacht builders and shipyards in the world.
1. Lürssen
Insider Monkey Score: 6
There is no ranking of the top yacht companies or boats that does not include Lürssen as one of the best in its area. Lürssen, a German shipyard with headquarters in Bremen-Vegesack and shipbuilding facilities in Lemwerder, Berne and Bremen-Fähr-Lobbendorf, has been a leader in marine innovation since 1875. Lürssen, which built the world’s first speedboat and some of history’s most renowned superyachts, including Azzam, Limitless, and Dilbar, is currently run by fourth-generation family members who are carrying on their great-grandparents’ legacy. Lürssen was created by Friedrich Lürßen, a 24-year-old German boatbuilder who learned about the industry from his father Lüder Lürßen, who also owned a boatbuilding workshop. The company’s long-standing connection to shipbuilding and German maritime excellence has helped it land first place on the list of the best luxury yacht builders and shipyards in the world.
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