Latest in the Market with MarineMax

While spring has sprung and more boats are ready to leave the docks, a good number of them will more than likely have outboard engines. According to the U.S. Recreational Boating Statistical Abstract, the latest report for Outboard Engine Sales Trends from 2009-2022 by the National Marine Manufacturers Association (NMMA), unit sales for outboard engines reached 305,900, making this the third year in a row this category surpassed 300,000, and breaking record sales of $3.6 billion, resulting in a 7.7% increase since 2021. Additionally, this report also states that compared to 2021, unit sales grew in 2022 among horsepower segments, revealing a 6.1% increase along with a growing demand for 300 hp units and above.

Another positive outlook on the economic state of the U.S. comes from a recent story on Trade Only. According to the article, data from the U.S. Bureau of Labor shows that in March of 2023, 236,000 jobs were generated within the economy, bringing employment up in various categories, with leisure and hospitality, professional and business services, health care, and the government among the mix.

Similarly, with the start of boating season comes updated details about the potential segment of boaters. According to an article posted online through nmma.org, research conducted through the Marine Retailers Association of the Americas (MRAA) and Discover Boating, powered by the NMMA, the next generation of boaters is categorized within three groups with the core segment of boat owners being similar to the one today and participating in boating. This group is also more suburban, older, and family-oriented. The growth segment is younger, lives in denser populated areas, is more adventurous, ethnically diverse, social, tech-savvy, and enjoys other boating-adjacent activities. Lastly, the emerging segment is an affluent and dynamic large group not pursuing outdoor activities that project as future boaters on a daily basis; however, they are experiencing some of these activities while on vacation through rentals.