The Wrap Up: The Top Trends That Dominated the Five-Day Event at DIBS

For many years, the Dubai International Boat Show has been an important platform for the maritime industry to display its efforts to increase sustainability and meet the changing demands of customers. The show's dedication to displaying cutting-edge sustainable materials and eco-friendly practises is a reflection of the industry's dedication to protecting the environment.

Over 50 global and regional launches and some exciting industry trends reflecting the changing preferences and expectations of the sector in 2023 and beyond were unveiled at the 29th edition of the show, which took place in the stunning seafront district of Dubai Harbour.

1. The demand for yachting is showing no signs of slowing down.

By 2027, the worldwide market for boats is predicted to be worth more than $47 billion. By 2031, it is anticipated that the global market for electric boats will be worth $16.6 billion, and the market for luxury yachts will be worth $12.8 billion. Exhibitors at the Dubai International Boat Show 2023 were unanimous in their praise for the show's ability to generate leads and purchases during its five-day run, echoing this upward trend.

The Italian shipyard Sanlorenzo Yachts also had favourable conditions. Three deals worth a combined AED 390 million were completed, according to the brand's Middle East sales rep, Michel Torbey (EUR100 million). Five deals worth a total of AED 78 million (EUR20 million) were closed by Yachts 1, the original dealer of Princess Yachts, Sanlorenzo, Cranchi, SEABOB, Al Dhaen, and Williams Jet Tenders, according to Nader Dara, Sales and Operations Manager at Yachts 1.

Exhibiting at Dubai International Boat Show boosted sales for GCC dealer SF Yachts. CEO Francesco Pitea said the brand achieved AED 30 million in sales. According to John Bush, co-founder of Bush and Noble – the exclusive dealers for Sunseeker Gulf across the GCC – the brand yielded four deals for a total of AED 39 million (9 million GBP). “We’ve had constant visitors, great quality clients. Every day, we had 12 potential buyers on the stand. We couldn’t be happier,” Bush said.

SAY Yachts, Sunreef Yachts and Azimut Benetti also expected a number of deals to be closed soon after the event ended, with Gulf Craft reporting a record number of visitors to its stand every day. Several deals were secured, with five more still under discussion, revealed Abeer Al Shaali, Deputy Managing Director, Gulf Craft.

2. Sustainability is at the top of the agenda for owners and brands alike.

The latest in eco-friendly sailing technology was also on display. Over half of the people who stopped by the Sunreef Yachts booth were interested in learning more about the company's environmentally responsible yachts, demonstrating the growing interest in these vessels. Sunreef Yachts' Head of Marketing and PR, Marta Sledziewska, says that customers are looking for a different kind of yacht that provides total silence on the water because they are concerned about the impact of their lifestyle on the environment. According to SAY Yachts Dubai's Head of Marketing and Sales, Lena Dobschall, carbon fibre technology makes for environmentally friendly boating because the yachts are 50% lighter, 50% more efficient, and use 50% less gasoline. The increasing demand for electric engines in the yachting business has led SAY Yachts to introduce the SAY 52, which will be powered by a hybrid engine.

3. A new audience of first-time buyers is emerging.

Recreational boating is seeing a fresh wave of new buyers, who are on average 15 years younger than they were 20 years ago and less likely to come from boat-owning families.

This data was echoed by the experiences of companies at the Dubai International Boat Show. SF Yachts’ Francesco Pitea said: “I’m pleased to say that this has been our best participation yet at the boat show. We have seen a lot of new, younger customers compared to previous editions, which is a very important thing for the whole industry.”

Bush & Noble’s John Bush also reported seeing a change in customer profile at his stand. “[They are] people who’ve moved to Dubai in the last couple of years and recognise that the seasons are very long here and that the facilities are great. There’s been a real mix of nationalities and demographics as well, which is great.”

4. Innovation is driving the future of yachting in real-time.

The theme of innovation overshadowed the 2023 Dubai International Boat Show. Cutting-edge propulsion systems, such as the end-to-end hybrid MTU Yacht Propulsion Solution distributed by Al Masaood, were on display, as were advanced navigation systems that can withstand harsh conditions and help clients deliver improvements in efficiency, safety, and a smaller carbon footprint. The event also highlighted the industry's shift towards alternative energy sources by showcasing electric and hybrid boats from companies like Trident Marine Services and Silent Yachts.

5. Luxury and customisation are still the order of the day.

Added features and personalised touches were another trend that caught visitors' attention, with SF Yachts’ Francesco Pitea saying that they had sold several boats on display, including the Riviera 77, an enclosed flybridge sportsfisher built by Australia’s most awarded luxury yacht builder for which SF Yachts managed the custom design. “People don’t really think of luxury when they hear the words fishing boat, but people that have seen our boats all end up saying that they don’t see it as fishing boats. Riviera 77, for example, taps into the growing demand for sportsfishers with long range, high speeds, and elegant superyacht design,” he said.

According to Sanlorenzo Yachts’ Michel Torbey, the brand’s audience is mainly looking for custom, high-end yachts and boats that they can use every day, as the vessel becomes the destination and a new younger audience demands a fresh look for their craft. “Some of them want owner-friendly boats, and others want vessels with a captain and crew. No two yachts can look the same; they all depend on the owner,” he added.

The show did more than just show what people wanted; it also led the way in new ways to design boats and think about the environment. The success of the event's exhibitors proved that the yachting industry can provide high-performance, comfortable designs that are also environmentally responsible.

Sales are expected to rise and R&D spending will increase as a result of the increasing demand for cutting-edge solutions to the challenges faced by the yachting sector.

The show will be back next year. Dates to be announced.