Yacht Charter Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing &Cost Structure Intelligence, Best Practices, Engagement Model, Low &Best Cost Country, Day One Report

Yacht Charter Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing &Cost Structure Intelligence, Best Practices, Engagement Model, Low &Best Cost Country, Day One Analysis Report, 2020 - 2027

  • Published Date: ---
  • Base Year for Estimate: 2020
  • Report ID: GVR-P-10528
  • Format: Electronic (PDF)
  • Historical Data: 2018-2019
  • Number of Pages: 0

Procurement Outlook

Yacht chartering is renting or chartering a motor yacht and traveling to various destinations for a vacation activity or a business event. Yachts can be categorized into the following types:

  • Mega yachts: It is above 50 meters in length and designed for exceptionally big groups and larger families. Mega yachts are attended by professional crews of several full-time members.

  • Superyachts: A superyacht is above 30 meters in length. They are usually equipped with an array of amenities such as audio-visual entertainment and water sports equipment.

  • Luxury yachts: Luxury yachts are ~24 meters in length and are suitable for small families and groups. They are habitually crewed by permanent or seasonal crews from two to four members.

  • Sports cruisers: These are boats less than 18 meters in length. These models are suitable one to two persons for relatively short day cruising.

Demand Outlook

The global yacht charter market valued at ~USD 15 billion in 2020 and it is expected to grow at a CAGR of 5% from 2020 to 2027 due to growing preference among travelers for luxury marine tourism and personalized services. Europe is the largest regional market with more than 40% share and is expected to continue leading during the forecast period as countries, such as Greece, Croatia, and Turkey are among the most popular tourist destinations. 24-69 meter yacht segment has the highest market share owing to factors such as availability of variants, which also includes a vessel having wind sailing capabilities that help save fuel and ensure traveling in favorable wind direction. Moreover, its low maintenance cost, shallow draft for water anchorages capability, and lower moorage cost makes it the most preferred choice for customers.

Cost Drivers

The major cost components of yacht charter services include the cost of crew members, food and drinks costs, fuel costs, dockage, communication costs, etc. These components together accounted for more than 80% of the overall cost of service. Other cost drivers include VAT and insurance costs.

Constraints

The global yacht charter industry has been severely hit by the rapid spread of the COVID-19 across key markets in Europe and the Americas. However, whilst inquiries for new charters and second-hand sales have significantly reduced and travel restrictions in several countries made yacht operation difficult, most large yachts remain fully crewed and operational and, where possible, yachts continue to prepare for the 2022 season.

Supply Chain

Beneteau S.A; Sunseeker International Ltd.; The Moorings Limited; Camper &Nicholsons International Ltd.; Sunsail Worldwide Sailing Ltd.; Argo Nautical Limited; Kiriacoulis Mediterranean Cruises Shipping S.A.; Boat International Media Ltd.; Yachtico Inc.; and Fraser Yachts Florida Inc. are some of the key yacht charter service providers. The global yacht charter market features a moderately fragmented landscape as the industry leaders contribute less than 30% of the overall market share. Leading suppliers are strengthening their presence through multiple mergers and acquisitions. Grand View Research will help our client identify the best-suited suppliers by mapping their core capabilities and operational efficiency.

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Add-on Services

Should Cost Analysis

Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

Rate Benchmarking

Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

Salary Benchmarking

Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

Supplier Newsletter

A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

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