Navigating Headwinds and Positioning Recreational Boating for Growth

For several years, marine manufacturers have encountered lingering inflationary pressures, elevated borrowing costs and, more recently, tariff uncertainties that have kept many households cautious. 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 boat builders and dealers are taking a measured approach to capital investments until conditions stabilize.

Within that context, NMMA estimates new powerboat unit sales were down approximately 10 percent in 2025 and short of 220,000 units-levels not seen since just after the Great Recession. Meanwhile, the pre-owned 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 percent of total boat sales.

Through it all, Manufacturers and dealers have remained resilient and 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 number one contributor to America's $1.2 trillion outdoor recreation economy.

It is also encouraging that NMMA's quarterly survey of senior executives shows manufacturers are cautiously optimistic. And 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.

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