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Italy Confirms its Leadership in Superyacht Production in 2024

By Bettina Bush Mignanego08 octobre 2024

September remains the busiest month for the international yachting sector, with three major boat shows taking place in Cannes, Genoa, and Monte Carlo. This growing segment sees Italy playing a central role, with one out of every two yachts produced on the peninsula. Here's a closer look.

Overall, the yacht market is set to reach €33 billion by 2022, with Italy leading the way. Here, the SL90 Asymmetric from Italian manufacturer Sanlorenzo (Sanlorenzo)

€ 25 B

World superyacht market in 2022

€ 2,6 B

Order book in 2024-25 for Azimut-Benetti, the sector leader

£ 3 M

The weekly charter price of the 122-metre Superyacht Kismet

Of the 821 yachts over 24 meters under construction this year, 407 are Italian—representing 50% of global orders and reaffirming Italy's position as the leader in superyacht production. According to data from Confindustria Nautica and Deloitte, the overall market reached €33 billion in 2022 (the latest available figures), growing by 11%, with superyachts accounting for more than €25 billion. Though this sector represents only about 1% of the luxury market, it is experiencing strong growth.

This leadership stems from our unique ability as Italians to blend industry and craftsmanship. Our supply chain represents the true essence of Made in Italy, which we continually enhance

Giovanna Vitelli, president of the Azimut-Benetti Group

The Global Order Book's international rankings place Italy as the top producer of yachts over 24 meters for the 24th consecutive year. Leading the pack is Azimut-Benetti, which controls 14% of the global market. The group aims for ambitious targets, hoping to reach €1.5 billion in revenue by 2025, after closing the 2023/24 fiscal year at €1.3 billion.

In an exclusive interview, Giovanna Vitelli, president of the Azimut-Benetti Group, reveals the secrets behind the success of Made in Italy superyachts: "This leadership stems from our unique ability as Italians to blend industry and craftsmanship. Our supply chain represents the true essence of Made in Italy, which we continually enhance." Vitelli also highlights Azimut-Benetti’s strengths: "We are the leader in yachts over 24 meters. In the world of super-luxury, brand prestige is fundamental, and our heritage has turned models into icons. However, dreams must be accompanied by substance. We are the most premium shipyard in terms of technology and finishings."

Giovanna Vitelli, President of the Azimut-Benetti Group (Azimut-Benetti)

When it comes to vessels over 50 meters, Vitelli acknowledges: "For superyachts above 50 meters, Northern European shipyards certainly rival us, not only in terms of beauty but also reliability."

Despite a global slowdown in the luxury market in 2024, Vitelli remains unconcerned: "For 2024/25, we expect a 15% growth and a €2.6 billion order book. I would call it a market normalization after two exceptional years, but it is likely that the nautical sector will prove more resilient."

Italy's Azimut-Benetti has been ranked the world's leading producer of yachts over 24 metres for the 24th year running, according to the Global Order Book. It accounts for 14% of the world market. Here, the Seadeck 7 (Azimut-Benetti)

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Des analyses approfondies sur l'industrie du luxe que vous ne trouverez nulle part ailleurs.
Des études et rapports sur les principaux défis à venir ainsi que leur décryptage.
Des articles académiques élaborés par des professeurs et des doctorants membres du Swiss Center for Luxury Research, ainsi qu’un certain nombre d’universités à l’étranger.
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