Cecchi (Confindustria Nautica): "The Italian industry's prospects remain stable in 2022."

(This content is part of the articles published within thespecial insert “SUPER YACHT: the best of Made in Italy” edited by SUPER YACHT 24)

Contribution by Saverio Cecchi *

* President of Confindustria Nautica

The Italian recreational boating industry stands out as one of the country's driving forces, growing faster than any other sector in the maritime economy in 2021, recording record exports and a 10% increase in direct employment.

2021 proved to be the year with the best turnover increase ever (+31,1% compared to 2020, with a value of 6,1 billion euros), with stable prospects also for 2022, consolidating structural growth.

Among the key factors fueling this growth is the boom in shipbuilding exports, which reached an all-time high of €3,37 billion in the fiscal year ending March 2022, with the United States being the largest market for our shipyards. We clearly have a strong propensity for foreign markets, with an export rate of 88% of the value of domestic production of new pleasure boats.

Considering the current economic and political climate, we can expect the growth curve to stabilize in the coming years. Our exports are still solid, and the order books of Italian yacht and superyacht shipyards, which for many operators even cover the next three years, guarantee stability.

Italy strengthened its global leadership in the superyacht sector in 2022. The Global Order Book, compiled by Boat International, once again ranks the Italian industry at the top for orders for vessels over 24 meters, with 523 yachts under construction out of a total of 1.024 globally. This has set an all-time high for orders in the Global Order Book. Italy's share represents over half of global orders, at 51% of the total, an increase of 116 units compared to 2021, corresponding to a growth of 28,5%. Turkey and the Netherlands follow in the ranking, with 91 and 81 orders, respectively.

What emerges most from the data published in the new edition of "La Nautica in Cifre"—the statistical yearbook produced by Confindustria Nautica with the scientific partnership of Fondazione Edison and sponsored by the Ministry of Infrastructure and Transport—is that the increase in turnover from superyacht production is largely attributable to the growth in exports, which represent its main component—95%.

In the last year under study, the value of Italian superyacht production almost tripled compared to 2010, with a positive trend from 2012 onwards, and exports, while following the same trend, recorded even greater growth, equal to +310% compared to the 2010 base figure.

Sales on the Italian market have seen significant increases over the past few years compared to the lows of 2013, with the index for the current year reaching a level of 77% compared to the 2010 baseline.

Thanks to the daily efforts of our entrepreneurs, recreational boating is thus consolidated as a flagship of Made in Italy and a true excellence of Made in Italy production on a global level.

The industry's connection to the Made in Italy paradigm is strong, both due to the intrinsic characteristics of Italian boats, exported worldwide, and the combination of primary elements that evoke beauty and well-made craftsmanship. Italian boats are distinguished by their aesthetic refinement—from elegant design to meticulous attention to detail and interior decoration—as well as technological research—in hull construction, materials used, paint finishes, and seakeeping solutions.

A perfect combination of beauty and well-made, therefore, capable of expressing the extraordinary value of the Italian nautical industry: not only class and elegance, but also research and innovation, applied to a production that reaches almost artisanal levels of workmanship, thanks to a highly qualified and specialized workforce, to achieve cutting-edge results in aesthetics, functionality, performance, comfort, and sustainability.

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