Classic vs Superyachts: The Future of the Marine Industry
As the Superyacht industry booms, can classic yachts and traditional boat-building survive? How will advances in technology affect the future of yacht racing and the Marine industry in general?
Following the success of this summer’s boat races including the Superyacht Cup, British Marine reported that the total superyacht industry revenue grew by 11.5% and saw growth for the fourth year running. Full time employment in the industry also grew by 4.5% in 2016, and with today’s announcement that the UK unemployment rate has fallen to the lowest in 42 years, the demand for skilled trades in the luxury yacht sector is set to rise further.
Chairman of Superyacht UK, Peter Brown recently revealed, “This sector continues to outperform the rest of the marine industry and the domestic economy.” His position is echoed by America’s Cup Winner and team principal for ETNZ, Grant Dalton, who worries that the popularity of luxury yachts will have a negative effect on the traditional boat-building industry and specialists in classic yacht design.
Our Head of Marine, Dale Fisher agrees – VHR have recently seen a noticeable increase in marine clients looking for technicians skilled in the build and fit-out of superyacht interiors. The luxury yacht sector is already capturing the interest of marine engineers in training, and if this next generation chooses the more glamorous side of the industry over classic boat-building, this could possibly spell trouble for more traditional training organisations such as IBTC. That said, there will hopefully always be a following of the devotees to the original methods keeping the skills of the true craftsman alive.
The popularity of modern hi-tech superyachts could also mean marine engineers face rapid career transformations. Those with more classic skills may be forced to retrain to keep up with industry changes and match demand for technical engineers.
Will the superyacht of today shape and define a new era of the marine industry? As Shipyards recruit the next generation of engineers and designers, the coming years will tell.
VHR are attending Cannes and Monaco Yacht Shows in the coming weeks. Find out more about Marine industry events and news here.
Visit http://v-hr.com/vacancies/ for more information about vacancies and jobs in Marine, Aerospace, Aviation, Engineering and Defence.
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