The yacht refit industry has experienced a transformative year in 2024, marked by advancements in technology, evolving workforce dynamics, and a renewed focus on sustainability. This annual report provides a detailed overview of key developments, challenges, and trends shaping the refit sector.
The refit sector continues to grow, rivaling new-build projects in revenue and complexity. In 2024, over €2.8 billion was spent on refitting yachts over 30 meters, reflecting a 15% increase from the previous year. This growth highlights the critical role of refits in extending yacht lifespans and ensuring high standards of luxury and safety.
The industry’s reliance on skilled labor is both a strength and a vulnerability. A significant portion of the workforce is nearing retirement, creating an urgent need for new talent. Despite efforts, the industry struggles to attract younger generations to trade-based careers.
Environmental consciousness has driven shipyards to adopt greener practices, including waste management systems, energy-efficient operations, and sustainable materials.
Refits are inherently complex, often described as a “state of emergency.” Common challenges include supply chain disruptions, scope creep, and tight deadlines.
Technological advancements are reshaping the industry. From digital twins to robotics, innovation is improving precision and efficiency in refit projects.
The 2024 Yacht Refit Report predicts continued growth, with investments in infrastructure and workforce development at the forefront. Shipyards are expanding their global presence to meet demand, particularly in emerging markets like Southeast Asia and the Middle East.
This year’s refit sector developments underscore its critical role in the superyacht industry. As demand grows, addressing workforce and sustainability challenges will be vital to ensuring continued success.
2024 Yacht Industry Insights: Explore Our Annual Reports
Dive into the latest trends, challenges, and innovations shaping the yacht industry with our comprehensive 2024 reports. From sustainability advancements and new build technologies to insights from captains and owners, these reports provide a detailed look at the state of yachting today:
Stay informed and inspired as we chart the course of the yachting industry’s dynamic landscape.
Step aboard HALCYON, a 112’ Sanlorenzo SD112, and experience the true Sanlorenzo lifestyle. From her elegant master suite and expansive Skylounge to her flybridge Jacuzzi and effortless cruising performance, HALCYON embodies Italian sophistication and modern luxury at sea.
This fall, Seattle’s waterfront will once again come alive with luxury, innovation, and adventure as the Seattle Boats Afloat Show returns to Lake Union Piers from September 11th to 14th, 2025. Hosted in one of the Pacific Northwest’s most iconic marine venues, this in-water show offers an opportunity to explore some of the most distinguished yachts on the market—all steps from the heart of the city.
Worth Avenue Yachts will showcase its expertise in yacht brokerage at the 2025 Newport International Boat Show, taking place September 11–14 in Newport, Rhode Island. Positioned in the Brokerage Basin, the team will present a selection of used yachts for sale while offering personalized guidance to buyers and sellers. As one of the premier yacht brokerages, Worth Avenue Yachts brings unmatched service, local knowledge, and global reach to this prestigious in-water event.
Worth Avenue Yachts is proud to participate in the Monaco Yacht Show 2025, held September 24–27 in Port Hercule. Join our team in Monaco as we share expert insight into yacht sales, charter opportunities, and new construction at the world’s premier luxury yachting event.
Step aboard PILOT LOUNGE, a stunning 91’ Horizon yacht celebrated for its refined design, exceptional crew, and thoughtfully tailored charter experiences. With a recent 2024 refit and a reputation for delivering effortless luxury, this guest-favorite yacht is perfectly suited for cruising the crystal-clear waters of Florida and the Bahamas. Whether for day escapes or extended getaways, PILOT LOUNGE offers the ideal balance of relaxation, adventure, and personalized service.
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