Boat Builders

The 848 Boat builders in the US design, manufacture, and market boats used primarily for personal and recreational purposes. Major product categories include power boats, sailboats, kayaks, canoes, and rowboats. Power boats include boats with inboard, outboard, stern drive, and jet powered engines. The power boat category includes Personal Water Craft (PWC), such as a jet ski. The retail price for a new fishing boat ranges $25,000 - $100,000, but luxury yachts can retail for millions of dollars.

Variability in Costs

Variability in the cost of materials and components affect margins and profitability for boat builders.

Competition from Used Boats

Boat builders compete with the used boat market, which appeals to deal-seeking buyers and new boaters looking to minimize their investment.

Jul 27, 2026 - Boat Loan Performance Remains Solid

• The National Marine Lenders Association's 2026 Annual Statistical Report, released in June, suggests financing conditions remain relatively stable for US boat builders despite affordability pressures. Marine loan delinquencies increased to 1.42% in 2025, but remained below overall consumer installment loan delinquency rates, indicating recreational boat buyers continue to perform comparatively well on loan payments. Gross portfolio yields rose to 6.38%, reflecting higher borrowing costs that could temper demand for new boats, while lenders reported maintaining traditional underwriting standards rather than easing credit requirements. The continued reliance on third-party liquidators for 79% of repossessed boats highlights an active secondary market that can compete with new boat sales. Overall, the report points to a lending environment that remains fundamentally healthy but signals affordability challenges and tighter financing conditions that may constrain new boat demand and production growth.
• Producer prices for boat builders rose 3.4% in June 2026 compared to a year ago, according to the US Bureau of Labor Statistics (BLS). Employment for boat builders was down 0.5% in May 2026 compared to a year ago. Employment grew 10.2% in the industry over the past decade, comparable to the 11% growth in overall private employment. Average wages were up 5.9% year over year for non-supervisory employees at transportation equipment manufacturers, with an average wage of $38.50 per hour in June, per the BLS.
• According to NMMA’s latest recreational boating data, US boat dealers entered April 2026 facing continued market softness, with rolling 12-month new powerboat retail sales falling 7.1% year over year to 214,292 units amid elevated interest rates and cautious consumer sentiment. Freshwater fishing boats posted a slight increase in retail sales year over year, standing out as a stable category. The report suggests affordability challenges and weaker consumer confidence are slowing demand for higher-ticket recreational purchases heading into the critical spring selling season. Boat builders focused on more resilient categories may be better positioned as consumers become more selective with discretionary purchases.
• US boat builders faced softer demand in 2025 as new boat retail unit sales declined 9% year over year to 215,237 units, down from 236,070 in 2024, reflecting a more cautious consumer environment, according to a Boating Industry report citing the National Marine Manufacturers Association's latest Monthly Recreational Boating Industry Data Summary. Elevated interest rates, persistent inflation, and subdued consumer confidence weighed on discretionary purchases, directly impacting new boat production volumes. However, demand remained supported by accessible segments, with freshwater fishing boats showing relative stability at just a 1.5% decline. The market has shifted to a more balanced position following earlier demand surges, with steady participation helping stabilize long-term prospects. Overall, while near-term production may remain pressured, continued engagement in boating supports a more stable outlook for US boat builders.

Industry size & Structure

The average boat builder operates out of a single location, employs fewer than 20 workers, and generates $15 million annually.

• The boat building industry consists of 845 firms that employ 45,000 workers and generate about $16.6 billion annually.
• The industry is concentrated; the top 50 companies account for about 77% of industry revenue.
• Large companies include Brunswick, Bombardier, Viking Yacht Company, and Marine Products Corporation. Some large companies have international operations.
• The US became a net importer of boats in 2015.