There are a number of groundbreaking businesses that could potentially benefit themselves and the superyacht industry if they chose to develop products and services for this exciting market.
Many companies seem reluctant to enter the superyacht market, and some that are already present do not market themselves in such away that they can gain an increase in market share.
It is undeniable that financial Goliaths, who gain most of their income from shoreside and commercial marine interests, stand to gain little in terms of increased turnover when viewed as a percentage of annual turnover.
The Cummins QSK60-DM with cross section
A majority stake in the superyacht market would still only amount to a tiny fraction of total profitability. However, is there not still a large amount of money to be made, and prestige to be gained by presenting oneself as a stalwart of both the luxury and commercial sectors?
SuperyachtNews.com spoke with Rick Newman, engine manufacturer Cummins' global business development manager, who has identified both the company’s missed opportunity and potential value in the superyacht market.
Speaking of The Superyacht Intelligence Agency Newman said, "Your intelligence database is the whole reason we are here [FLIBS 2015]. I showed the last 10 years of opportunities to our leadership in Europe and they have used that to gain collective support."
The collective support that Newman describes pertains to Cummins' renewed ambitions in the superyacht market. Hoping to benefit from the cross fertilisation of Cummins' commercial and land based operations the diesel engine giant is aligning itself to compete.
At FLIBS 2015 Cummins officially introduced the superyacht industry to it’s QSK60-DM V-16 cylinder, four stroke diesel marine engine.