Brunswick Corp. revealed strategic plans for the next two years during its annual Investors Day, which include a significant adoption of electric propulsion, e-powered models and the launch of a new boat brand.
CEO David Foulkes opened the virtual event highlighting the company’s record first quarter. Net sales of $1.43 billion reflected a 48.4 percent increase compared with the same quarter last year, with strong demand across all segments.
Foulkes also spoke of the continued transformation of Brunswick, which the company is calling the “Next Wave,” an extension of an operating model that started in 2019.
“Brunswick’s Next Wave … is defined by distinctive new products and technology-enabled experiences to accompany the broadening consumer appeal of the marine lifestyle and unlock profound enterprise synergies,” Foulkes said. [It] plays a powerful role in our growth strategy.”
Foulkes mentioned the significant growth of its ACES strategy (autonomous, connected, electrified and shared access), stating that by the end of the year, Brunswick will have more than 700 employees working directly on ACES’s commercialization into the builder’s product offerings.
Foulkes called it a “unifying framework for many of our initiatives.”
What followed was a glimpse into Brunswick’s electrified and connected future. Foulkes said the company’s recent partnership with Carnegie Robotics would allow it to launch its first Advanced Driver Assistance System as a recreational marine product later this year.
Foulkes then revealed the biggest news of the event: By 2023, Mercury Marine and the Advanced Systems Group will launch five electric-propulsion products, with the first landing in 2022. Foulkes also stated that the builder will have electric boats in four segments by 2023.
Mercury president Chris Drees followed Foulkes, sharing that “recent investments and product launches have enabled Mercury to achieve its all-time highest market share — now more than 45 percent in the U.S.”
While Drees did not provide more details on Mercury’s electric propulsion plans, he hinted on the company’s intent for dominance in the market. “We’ll launch five new electric outboard models by 2023,” he said. “And we intend for Mercury to be the market leader in both conventional and electric marine propulsion by the end of that year.”
Following Drees, Advanced Systems Group president Brett Dibkey spoke of the company’s gains in the Fathom e-power system, which premiered at the 2020 Consumer Electronics Show. During the next two years, ASG expects to install 15,000 advanced battery systems that replace engine-powered generators, Dibkey said.
“[The] Fathom e-power system is on the front edge of increased adoption of Lithium-ion battery technology to power both propulsion and on-board house systems,” he said. “[We] are extremely well-positioned to capitalize on these industry trends through our existing brand and product portfolio.”
Dibkey added that battery technology would extend to other area, as well. “In the years ahead, we will continue innovating to deliver higher-voltage solutions to support more power-hungry applications, like high-horsepower propulsion,” he said.
Brunswick Boat Group president Aine Denari revealed plans to launch 122 new products during the next two years, covering all segments of its business. The biggest Boat Group news is the launch of a new brand later this year.
Denari described the new Revo line:
“The Revo brand is aimed at emerging boating consumers and will include innovations not just in how we design the product, but also in how we go to market to attract these consumers, offering retail assistance for online ordering. This new brand will be positioned around creating a recreational lifestyle to appeal to younger outdoor enthusiasts and anglers who currently do not own a boat. It will be new-boater-friendly in terms of functionality, performance, ease-of-use, maintenance.”
Click here for the complete Investor’s Day presentation.
A live Q&A session will be held May 17 at 12 p.m. (CT). Click here for details.
