There is no shortage of people willing to tell you where the market is heading. Brokers, project managers, owners’ reps, consultants and journalists all have a view, but the perspective that tends to be least heard in public and arguably the one that matters most belongs to the people who actually run the yards. So we asked nine of the market-leading shipyard executives the important questions to get a true understanding of where the market is and where it is heading. Their answers amount to a collective diagnosis and a clear barometer of the current new-build landscape.

The yards represented here span the full competitive range of the European market, from Royal Huisman, Damen Yachting and Feadship in the Netherlands to Palumbo, Sanlorenzo, Azimut Benetti and Ferretti in Italy, from Abeking and Rasmussen in Germany to Bilgin in Türkiye. Of course, they don’t agree on everything, but the convergence on certain themes is inescapably evident.

It is a near-united front on how they build. The past two to three years have brought a genuine step change in how these yards organise and deliver: facility redesigns, digital tools, closer integration between engineering and production and a concerted push to eliminate the late-stage revisions that have historically plagued new builds feature in almost every response. Obviously, skilled labour is the constraint that no investment in facilities can fully resolve. Finding the right people, training, keeping and ensuring the craft knowledge that makes these yachts exceptional is passed to the next generation is the essential thread that runs beneath everything else these leaders say. Supply chains have stabilised but remain brittle for specialist components. And in cost management, the ability to maintain quality without haemorrhaging margin is repeatedly cited as the factor most likely to define who thrives.

Yes, order books are strong, but the nature of what is being ordered has shifted. Owners are more considered, more experience-driven and increasingly motivated by how they spend their time on board. Purpose, sustainability and genuine adventure are genuine design drivers here. And when probed on the future, not one of these leaders talks about explosive growth. What they describe instead is a market that will be defined by the quality of what is delivered, the credibility of the yards delivering it and the ability to remain relevant to a generation of owners whose expectations extend well beyond the vessel itself. 

What follows is an interview by News Editor Conor Feasey with Francesco Carbone, the General Manager at Palumbo Superyachts, taken from The Superyacht Report: New Build Focus. Interviews with a further eight shipyard CEOs will be published over the coming days.

What changes have you made across your yards over the past two or three years that have genuinely helped construction and what has improved as a result?
Over the past few years, we’ve focused on modernising our yards, upgrading technology and enhancing project management. Training and specialist hires have strengthened our teams. The result is more efficient builds, shorter build cycles where possible, fewer delays and consistently high craftsmanship, even on complex, customised yachts.

We’ve made targeted investments in advanced 3D design and digital platforms to improve coordination between naval architecture, engineering, and outfitting from the earliest stages. This allows us to identify and resolve technical and integration issues earlier in the process, improving efficiency and reducing delivery risk. In parallel, we’ve strengthened the organisation by appointing senior project managers, systems and electrical integration specialists, and interior and outfitting experts with strong backgrounds in highly customised superyacht builds. Together, these investments have improved execution and predictability as our projects become increasingly complex.

Where is the pressure really building today? What has not worked as well as expected and where do you see the greatest risk to the market?
The biggest pressures today are supply chain delays and skilled labour availability. Looking ahead, political tensions and economic volatility could impact client confidence and financing, while material costs (especially for steel, aluminium and composites) remain hard to predict. Global trade disruptions, from shipping delays to customs issues, also pose risks to delivery timelines.

Looking at different specs, designs and size segments, where are you seeing strength in demand and where are you seeing a softening? What is driving it?
We’re still seeing sustained interest in 45 to 80-metre yachts, particularly models that combine efficiency with long-range cruising and innovative layouts. Owners are increasingly prioritising lifestyle over sheer size: they want yachts that can accommodate extended voyages, provide versatile spaces for work and leisure, and integrate the latest technology. This means the market favours builders who can adapt designs to individual client needs rather than simply offering the largest possible yacht.

Finally, on a more personal note, how do you see the market developing over the next decade? What does the future look like in reality?
The future will favour builders who combine quality craftsmanship with cutting-edge technology. Owners will demand highly personalised features, intuitive automation and smarter, more connected vessels. The future of the sector belongs to those who can balance these expectations with the realities of global challenges like supply-chain constraints, economic uncertainty and regulatory changes.

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