Like captains navigating an open sea, we in the marine industry don’t get to choose the conditions that surround us, but we do get to choose how we respond. For several years, marine manufacturers have encountered lingering inflationary pressures, elevated borrowing costs and, more recently, tariff uncertainties. Those persistent dynamics have softened boat sales and extended buying cycles.
Two forces are greatly influencing near-term consumption: confidence and affordability. Consumer confidence remains one of the strongest indicators for new boat demand. When people feel stable and secure in their financial outlook, they are more willing to invest in discretionary purchases. When uncertainty rises, buyers hesitate. Affordability then moves to the forefront. Credit remains plentiful, but borrowing costs have stayed elevated, impacting monthly payments, particularly for first-time and entry-level boat buyers.
On the business side, global conditions, from geopolitical unrest to evolving trade policy, continue to influence how companies price, hire and invest. Consequently, many leading boatbuilders and dealers are taking a measured approach to capital investments until conditions stabilize.
Within that context, the National Marine Manufacturers Association estimates new powerboat unit sales were down approximately 10% in 2025 and short of 220,000 units — levels not seen since just after the Great Recession. Meanwhile, the preowned market, an important entry point for budget-conscious households and first-time participants, struggled but continued to anchor overall demand, accounting for roughly 75% to 80% of total boat sales.
Through it all, manufacturers and dealers have remained resilient and have responded with discipline. They tightened production where needed, managed inventory and staffing carefully, and stayed focused on long-term competitiveness and product innovation.
Despite a challenging year, the market witnessed some bright spots in new boat sales, such as aluminum fishing boats, personal watercraft, a resilient luxury segment, and a buoyant sharing economy across rentals and clubs. Unit sales tell one story, but there is another we cannot lose sight of: Overall participation in the boating lifestyle is healthy.
Existing boaters and anglers continue to prioritize time on the water. That activity is a major reason the boating and fishing sector remains the No. 1 contributor to America’s $1.2 trillion outdoor recreation economy.
It is also encouraging that the NMMA’s quarterly survey of senior executives shows manufacturers are cautiously optimistic. We all know that an energized U.S. consumer will energize the marine industry, and increased market stability will drive greater business activity and optimism.
In uncertain times, it serves us well to remember our industry’s unique strength. Boating delivers something Americans value more than ever: meaningful experiences and connection to family, friends, and an unrivaled health and wellness lifestyle in nature. Boating is not just a purchase; it is transformative. And the demand for time on the water remains powerful.
When business sectors tread water, those who remain confident, act and prepare for the future win. That is why the NMMA is positioning its advocacy and market-expansion efforts to ignite greater growth.
We, as an industry, must also recognize significant long-term shifts: a changing and aging demographic alongside a new generation that shops, buys and consumes information differently. Addressing both trends is essential to sustained growth.
To that end, the NMMA board, in partnership with the Marine Retailers Association of the Americas, formed the Market Expansion Advisory Group, a collection of leading marketing minds representing
manufacturers and dealers. Their charge is to clarify how Discover Boating measures success and how the industry achieves greater market impact. The group clarified industry roles across the consumer marketing funnel.
Discover Boating is the industrywide movement to attract new people to boating. Its role is to build overall category awareness, shaping perception and helping next-generation audiences see boating as accessible, exciting and relevant.
While further down the funnel, manufacturers and dealers drive performance marketing and sales, converting lifestyle interest into consideration, leads, rental, purchase and long-term engagement. Dealers spearhead the ownership experience through onboarding, service and retention, while manufacturers reinforce brand value and innovation.
The advisory group also established a clearer way to measure success: the Discover Boating Health Score, a shared set of key performance indicators that track awareness, interest, engagement and participation over time. This transparent industry scoreboard is designed to align strategic investments around long-term growth.
Advocacy remains the NMMA’s other top priority and plays a critical role in expanding the boating market. To ensure the industry not only survives but thrives, it needs a trade policy framework that fosters long-term stability, consumer confidence and market access. A thoughtful approach to tariffs and trade agreements will allow the industry to remain competitive while protecting domestic manufacturing strength.
Regulatory modernization is another priority. From materials policy to vessel rules, the marine industry supports smart, science-based regulations and a practical approach to policies that impact boatbuilders and consumers.
Finally, the $230 billion boating and fishing economic engine depends on open access. Boaters require healthy fisheries, maintained waterways, modern marinas and numerous safe launch points. Continued investment in programs such as the Sport Fish Restoration and Boating Trust Fund and other infrastructure initiatives drive billions in water infrastructure investments and remain critical.
The greatest chapters for boating are still waiting to be written, and that future will not be shaped by treading water. It will be shaped by decisive action, innovation and collaboration across all industry stakeholders. It’s a bright future, and like the water itself, it is calling.
Frank Hugelmeyer is president and CEO of the National Marine Manufacturers Association.
This story originally appeared in the April 2026 issue of Soundings Trade Only.
