The luxury yacht market is driven by the growing income levels, which have increased the spending ability of individuals on recreational and leisure activities.

SHERIDAN, WY, USA, October 11, 2022 /EINPresswire.com/ — The latest report published by IMARC Group, titled “Luxury Yacht Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global luxury yacht market size reached US$ 6.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 11.8 Billion by 2027, exhibiting at a CAGR of 10.9% during 2022-2027.

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A luxury yacht is a sailing vehicle that is equipped with high-end features and the latest, modern performance technologies. It can be operated using a propulsion system, such as a gas turbine and an internal combustion engine (ICE), or via wind sailing. The yacht is manufactured using several materials, including steel, fiberglass, aluminum, and carbon fiber wood, treated with epoxy resins. A luxury yacht is equipped with advanced components and modern design and style to enhance the overall aesthetics and performance of…