CHARLOTTE GIPSON RESEARCH ANALYST

The new-build market is in the midst of an impressive growth period at this time, with some build slots in 2025 already being allocated to potential new owners or current owners wanting to expand. This new activity is something to be celebrated considering the potential negative impact the pandemic could have had on the industry, further highlighting the innovation and determination of newbuild shipyards to continue to deliver to their clients.

However, the face of superyacht ownership is due to go through a striking transition period over the next few years. $18.3 trillion of wealth is due to be transferred to the next generation of UHNWIs by 2030, meaning there’s the potential for an influx of a whole new generation of owners. However, it could also mean the transfer of wealth to a new generation less inclined to invest in these highvalue assets.

Studies have found that the psychology on the perception of luxury goods and how different generations view wealth is vastly different, with the younger generations moving away from overt displays of opulence, preferring more philanthropic outlets and subtle expressions of wealth.

Therefore, we could be facing an interesting period in the industry. Will the next generation of UHNWIs embrace the tradition of building a superyacht from scratch or will the current popularity of chartering and the noted growth of the second-hand sales market continue?

I believe the new-build sector will still prosper because many owners will always opt for the opportunity to have their say on these projects. However, I also believe other sectors of the industry, such as chartering, second-hand sales and shared membership, will continue to grow in popularity, striking a new balance between how wealth and ownership is distributed. CG