Current trends and challenges
The conversation began with a focus on the evolving dynamics of the boating market. Japec Jakopin highlighted the economic shifts, noting, “We are witnessing a move toward bigger luxury boats, where the money is. Smaller boats and mass-market boating are losing ground as boating becomes increasingly expensive, inconvenient, and less accessible. The industry must address these challenges to sustain boating’s popularity and keep it affordable for families and the wider market.”
Pontus Fernstrom emphasised the role of perceived value, saying, “As an industry, we haven’t effectively communicated the value of boating. Price disparities between new and second-hand boats often stall the market, but stabilisation is beginning to help.”
Boating’s unique appeal
The panel explored boating’s advantages as a family-oriented activity. Jakopin noted the success of initiatives like the NFL’s Kirk Cousins campaign for Manitou Boats, which focused on family leisure. He stated, “Boating keeps families together, connects them with nature, and offers unique benefits over other leisure activities. This is something we must build on.”
The need for design evolution also came into focus. Jakopin highlighted trends from brands like Axopar and Saxdor, whose models cater to modern usage. He said, “Boats must be easier to use, convenient, and affordable, adapting to how they’re used today.”
Fernstrom echoed this sentiment, advocating for innovation to eliminate barriers: “We must make boating accessible by simplifying boat handling and maintenance to attract more people.”
The need for a sailing resurgence
Sailing’s decline was a key topic, with Jakopin sharing stark statistics: “In 1983, 50% of Europe’s market was sailing; today it’s only 7%. In the US, it has dropped to 1%. To reverse this, we need to reinvent sailboats to make them more convenient and user-friendly.”
Fernstrom pointed to the America’s Cup as an example of innovation revitalising interest in sailing: “The high-tech, fast-paced nature of the America’s Cup attracts new audiences. Sustainability’s growing importance should also inspire a resurgence in sailing.”
Exploring new opportunities
The panel acknowledged emerging opportunities, particularly catering to older demographics. Jakopin remarked, “People are living longer, and we must adapt boats for those in their 70s who still want to enjoy boating. Other industries have successfully embraced ageing populations, and we must do the same.”
Fernstrom added that simplifying technology is critical: “For electric boats, providing car-like usability—clear information on range and navigation—makes boating easier for new users.”
Data-driven innovation
Data emerged as a transformative tool for the industry. Jakopin noted the conservative nature of boat building, stating, “Most builders hesitate to innovate, waiting for pioneers to take the risks. However, Group Beneteau’s Island Cruising Concept, informed by real-time data from over 1,000 boats and 180,000 users, is a game-changer. It rethinks everything from layout to propulsion.”
Fernstrom stressed the need for collaborative data collection across the industry: “Currently, there’s a lot of guesswork. Wider data-sharing would enable us to create products that truly meet market needs.”
The path forward
Jakopin concluded by emphasising the importance of leveraging technology to make sustainable boating mainstream: “Beneteau has shown that affordable, reliable, and sustainable boats are achievable. The industry must focus on creating products and services that cater to real user needs.”
He expressed optimism about the industry’s growth: “Boating is not dying. The momentum from the COVID-19 boom provides a solid foundation for expansion, but it’s up to us to innovate and adapt.”
This panel offered a forward-thinking roadmap for the boating industry, calling for innovation, accessibility, and sustainability to guide its future.
