Figures published at the Collins Stewart London Boat Show indicate strong growth in the UK leisure and small commercial marine industry for 2006/7.
The figures, published by the British Marine Federation, report that the total turnover of the UK leisure and small commercial marine industry is almost £3 billion - an increase of around 6.5 % from 2005/6. Export revenue is in excess of £1 billion - a rise in value of more than 12 % from the year before.
The report indicates that there are almost 35,700 employees across the industry in the UK, an increase of 1.9 per cent from 2005/6. There are around 4,300 businesses operating in the sector.
The report details the economic impact of the UK leisure marine industry - showing its value to regional economies. The south east and south west retain the largest market share, but other parts of the country have experienced strong growth over the past year.
Joel Plasco, chief executive of Collins Stewart said: “The figures show a healthy growth in the UK leisure marine industry in current challenging markets. This is a great success story and Collins Stewart is pleased to be associated with this thriving industry, renowned for its high quality marine products and services, for a second year running.”
Rob Stevens, chief executive of the BMF. added: “The release of our latest industry figures is a welcome boost for the industry illustrating healthy overall growth in both turnover and the number of people employed.
“The leisure and small commercial marine sector is a diverse and growing part of the UK economy. Our boatbuilders and equipment manufacturers have a world-wide reputation for quality, good design and innovation. In the home market, boating tourism continues to play a key role, with good customer service experience supporting significant numbers of domestic and overseas visitors.
“Despite the challenging economic climate, I am confident the marine industry can continue to navigate a successful course.”
Manufacturing makes up the largest overall share of the market, followed by service provision and distribution. More than 17,000 people work directly in boat, engine and equipment manufacturing.
The report shows that Eurozone countries continue to dominate the market for UK exporters, with exports accounting for more than one-third of the leisure marine sector. The North American market accounted for 12 per cent of exports and the rest of the world 19 per cent.
The sector is dominated by small and medium size enterprises, with over 70 per cent of the companies employing between one and five people; 70 companies with more than 50 employees account for over 40 per cent of the total industry revenue
