The Relevance team was out in full force at the 2024 Fort Lauderdale International Boat Show, meeting with our clients and speaking to leading industry experts in yachting.
FLIBS is the world’s largest in-water boat show, held annually at the end of October. This year’s event showcased a dazzling selection of more than 1,000 boats for charter and sale and more than 1,000 exhibiting brands.
We took the opportunity to catch-up with some industry experts at FLIBS 2024 to tap into their yachting intelligence on the shape of the industry and the latest trends.
FLIBS 2024 review: The yacht market and industry trends
Brendan Roney, Managing Partner at BR Marine Group, a Relevance client, said he’s seeing a lot of younger buyers coming into the market, drawn by all the fun activities that luxury yachting offers, aligning with the desired experiences of younger generations. He said the US election has had an impact on the market, but expects it to pick up in 2025.
“There’s been a bit of a slow down with the election in the US and there’s a lot of really great, good inventory that’s come on the market and I think that a lot of people who are on the sidelines are waiting for the election to go by and for the right opportunity to make a move on a boat. So, there are a lot of good deals out there,” Brendan said.
He added: “In 2025 we are expecting a good market, especially with the inventory on the market, the buyers and the clients we have. There’s a lot of boats changing hands, with buyers moving up in size. There’s going to be a lot of activity.”
James Fachtmann, Founder and CEO of JFA Yacht & Ship, also a Relevance client, was at FLIBS 2024 to highlight their yachting services and to launch their new aviation division.
“A lot of our clients have asked us to do aviation sales and we already have that background within our team,” James explained. “So we are going to take what we do well in yacht sales and apply that to aviation sales and help to bring up the level of transparency and integrity the same way in which we have done in the yachting industry.”
On current yacht market trends, James said that leading yacht shows like FLIBS and the Monaco Yacht Show offer a superb opportunity to see what’s happening and where the trends are going.
“Everyone knows that catamarans are getting bigger and taller and one of the things that has been happening with marinas is accommodating that industry more and more,” James explained.
He added: “AI is also a huge trend, as are Tier III requirements on engines. Capturing carbon requires enormous units that are used to make diesel engines cleaner. They take up a lot of space. What wasn’t a big issue before is now a big issue. So, we start with a new build, we really have to think about what the owner wants to do with speed and range, they will need a certain engine, and that engine will need a unit that scrubs the exhaust. So, they have to reengineer the engine room to accommodate this new technology and the Tier III requirements, and then they can build the rest of the boat. So, it’s a different way of thinking when you design a new boat. I think that’s one of the bigger concerns of some of the designers we have talked to. It’s a rethink of how to design a boat.”
Principal Interior Designer and Founder of Verge Yacht Design, Anita Turcotte, said that she is seeing a shift towards sustainable innovation within the industry.
“Our clients are more interested than ever in eco-friendly materials and construction methods,” Anita said.
“Looking forward, we’re expecting the industry to keep pushing boundaries in sustainability and adaptability. At Verge, we’re prepared to lead in this space by exploring new materials and sustainable design solutions. Our goal is to create yachts that not only meet the demands of luxury but also contribute positively to the environment—like using alternative woods that capture more CO2 or integrating hybrid and electric propulsion options that minimise emissions.”
Anita added: “Technology and multifunctional design will also play big roles in the future. We’re envisioning layouts that adapt to different uses and activities, allowing for maximum flexibility with space planning. Smart technology is already transforming how we design, and we are currently designing for yachts that self-manage energy use, adjust interiors based on weather conditions, or even offer AI-driven enhancements for navigation and comfort.”
Whitney Diedericks, IGY Trident Club Programme Manager and Fairport Global Head of Client Relations said that growth is the key trend within the yachting industry.
“All you need to see is what is currently being built and the order book for the next coming years,” Whitney explained. “With that growth comes the need for our industry as a whole to grow, from professionals, to workers, to yacht crew. There is also a shortage of dock space for the vessels and will continue to be as there are more yachts on the water.”
Whitney explained that the next decade in the yachting industry will be an exciting one and that collaboration is key as technology evolves and sustainability is put at the forefront.
“Introducing our amazing industry to the next generation who will eventually lead this industry is what we need to do as professionals,” Whitney said. “Our teams do community outreach to train the next generation. I know I am personally attending my son’s high school to speak about the yachting industry to kids who would not know anything about it. This last FLIBS had a lot of professionals speaking about their efforts as well.”
How can Relevance help brands capitalise on trends from FLIBS 2024?
If you want to harness the latest trends in the yachting industry, we can help. We are a leading yacht marketing agency that knows how to leverage the latest trends in the yachting industry to engage with the world’s wealthiest audiences. We offer a full suite of creative and digital marketing services tailored to the yacht industry. Our yacht marketing experts have worked with niche industry start-ups and global brands, helping them to grow their business and reach new audiences. Contact us today to learn more.