UK marine association, British Marine, has announced a 4.3% increase in the production of UK leisure boats in 2014, despite challenging trading conditions in the Eurozone and other key foreign markets.
The figures, which were uncovered in new research by British Marine in collaboration with Phil Draper and Associates, reported that UK manufacturers built 10,120 boats in 2014 showing that British build is in high demand in both local and overseas markets. The news comes during worries of a global financial recession after the crash of the Shanghai Stock Exchange in China.
Following the research, British Marine reported that sailboat companies are leading the surge, accounting for around three-quarters of all new boats being built in the UK. The association states that this has been facilitated by the strengthening position of the UK as a leading player in the international dinghy market.
Furthermore, the UK motor yacht sector has revealed an impressive growth of 10% in the production of superyachts above 24m (80ft). According to British Marine, there is an increasing global demand for Britain’s iconic luxury brands, including British Marine members, Princess Yachts and Sunseeker International. These renowned brands continue to manufacturer even larger boats in light of their global success, such as the trideck Sunseeker 155 yachts, which was launched in early 2014.
Sarah Dhanda, membership and services director for British Marine commented, “These figures showcase the strength of Britain’s marine industry in a climate where UK manufacturing is under pressure to compete in international markets. It is the high-quality skills and versatility of our members, which keeps the UK at the forefront of production.
“With increased support from the government, called for in British Marin’s manifesto, we could see future figures soar as the full productivity potential of UK marine businesses in unleashed.”
For more information, or to view the full report, visit British Marine.