The luxury yacht market size is expected to grow from US$ 6,076.59 million in 2022 to US$ 10,338.10 million by 2028; it is estimated to grow at a CAGR of 9.3% from 2022 to 2028.

Yachts of at least 75 feet or above are considered luxury yachts. Based on size, they are called mega yachts or superyachts. Based on mode of operation, luxury yachts are bifurcated into sailing and motorized. Increase in disposable income of individuals across both developed and developing countries and rise in leisure activities are fueling the demand for luxury yachts. Additionally, the growing demand for luxury tourism, along with exclusive travel plans and personalized service, from high-net-worth individuals, is further propelling the demand for luxury yachts.