BOAT International's Global Order Book has revealed Turkey is now the second-largest yacht-building nation, eclipsing the Netherlands and coming second to Italy. The country will enter 2024 with 132 superyachts in build with a notable order book expansion of 40 per cent.
This eastward shift in the market marks the biggest change in this year's Global Order Book. Last year, shipyards in Turkey reported 102 projects, totalling 4,167 metres, while this year it reports 132 superyachts under way and 5,838 metres of production.
Dethroned from second place is the Netherlands, which maintains a strong order book of 80 projects amounting to a total 4,959 metres of production. As ever, Italy remains at the top of the leaderboard, dominating the market with a superyacht production that represents 51.4 per cent of the global total.
Turkey is constructing a total gross tonnage of 73,011, averaging 553GT per project, far above the global average. Despite the high numbers, quality does not suffer and a recent visit to the country for the Global Order Book's Annual Report revealed a significant improvement in the quality of the yachts in build and shipyards that are not afraid to invest in capital infrastructure.
The level of production is impressive, as demonstrated by key players like AKYACHT for instance, which is building a 100-metre, and the Turkish division of Damen Yachting, which has five projects, including two 60-metre SeaXplorers. Mengi Yay, Numarine, Turquoise, Sirena Yachts, Magnolia Yachts, Bilgin and SES Yachts also play a big part in the nation's impressive activity.
The full Annual Report – which provides an analysis of the state of the superyacht industry based on the Global Order Book's comprehensive data of the superyachts currently in build – will be released on 6 December, exclusively for BOATPro members.