NMMA expects strong growth to continue

The NMMA is touting the marine industry’s 2016 gains, emphasizing that it is one of the “few American-made industries.”
Author:
Updated:
Original:

The National Marine Manufacturers Association is touting the marine industry’s 2016 gains, emphasizing that it is one of the “few American-made industries.”

The group expects sales to have grown between 6 and 7 percent in 2016, with an estimated 250,000 boats sold this year as consumer confidence continues to rise.

Dollar sales of recreational boats are expected to rise between 10 and 11 percent from $8.4 billion, the NMMA is telling national consumer and business media.

The group predicts that an incoming Trump administration and Republican-controlled House and Senate will help the largely U.S.-based industry continue to thrive.

“I think [the new administration] is going to be very good for boating,” NMMA president Thom Dammrich told Trade Only Today. “I think it’s going to be an administration that will be very friendly to recreation.”

As one of the few original American-made industries — 95 percent of boats sold in the United States are made in this country — recreational boating is seeing some of its healthiest gains in nearly a decade, a trajectory the NMMA expects to continue through 2018.

Annual U.S. sales of boats, marine products and services totaled $36 billion in 2015 and are expected to climb 3 percent in 2016, to $37 billion.

Annual U.S. retail sales of new boats, marine engines and marine accessories totaled $17.4 billion in 2015 and are expected to grow to $19.1 billion in 2016.

The group also identified top boating trends to watch in 2017 — a continued increase in larger boat sales; a continued focus by manufacturers on introducing affordable and versatile boats to appeal to younger generations; increasingly intuitive marine technology; and a continued rise in a sharing economy around boating.

The recreational boating industry in the United States has an annual economic impact of more than $121.5 billion — a figure that includes direct, indirect and induced spending — supporting 650,000 direct and indirect American jobs and nearly 35,000 small businesses, the group said.

“With the U.S. boating industry having one of its strongest years in the last decade, and manufacturers saying, ‘We’re back!’, it’s likely we will reflect on this period as a golden age for our economy and our industry,” Dammrich said in a statement distributed to mainstream media.

“Economic indicators are working in the industry’s favor — a continuously improving housing market, strong consumer confidence, growing disposable income and consumer spending, and low interest rates all contribute to a healthy recreational boating market. Looking ahead, 2017 is likely to bring new dollar and unit sales gains on par with or better than 2016, and this trend will likely continue through 2018.”

The story has been picked up by Bloomberg Radio across the country.

Also appearing in national media was an article at Men'sFitness.com that included Discover Boating in its article, "52 tricks to make everything better in 2017."

Number 45 was “Take out a boat,” and it highlighted the boat-sharing economy and chartering as accessible options for readers while driving people to DiscoverBoating.com to find all of their boat rental, charter and class options in one place.

Related

Argos 3D Forward Looking Sonar

For 20 Years, FarSounder has been developing and manufacturing 3D forward-looking sonar for vessels of all sizes.

Dometic Marine Appoints Executives

The company promotes a 20-plus-year employee and adds a vice president of aftermarket sales and e-commerce.

IMEA Launches Scholarship Program

The International Marine Electronics Alliance aims to recruit students into the field of marine technology.

RBFF Campaign Reels in Awards

The fishing-and-boating advocacy group’s Get on Board campaign was recognized by two national public relations organizations.

Suzuki’s Clean Ocean Project

Testing of the engine manufacturer’s microplastics filtering device continues as it moves closer to production. The company also released its full-year financials.

Uflex Adds to Sales and Marketing Team

The company said significant growth during the last few years created the need to add three employees.

NMTA Beats Proposal To Double Excise Tax

It’s just one example of the value of belonging to a state or local marine trade association. Are you a member of an MTA?