Thierry Birles, renowned maritime expert and classic yacht restoration specialist, shared valuable insights on the burgeoning classic yacht restoration industry. As the demand for vintage vessel refurbishment continues to rise, Birles offers a comprehensive look at current trends and future projections for this niche market.
The Resurgence of Classic Yachts
The classic yacht restoration sector has seen significant growth in recent years, with the global yacht maintenance and refit market size surpassing USD 2.5 billion in 2023. Industry
analysts project this market to expand at a compound annual growth rate (CAGR) of around 8% from 2024 to 2032, displaying the increasing interest in preserving maritime heritage.
“The restoration of classic yachts is more than just maintenance; it’s about honoring maritime heritage and passing on a legacy,” states Thierry Birles. “We’re seeing a growing appreciation for the craftsmanship and elegance of vintage vessels, coupled with a desire to incorporate modern technologies for enhanced performance and comfort.”
Blending Tradition with Innovation
Thierry Birles notes that the restoration process involves a delicate balance between preserving historical integrity and meeting contemporary maritime standards. “Our approach combines traditional craftsmanship with advanced solutions to bring these timeless beauties back to life,” he shares.
Recent market analysis indicates that Europe accounted for approximately 30% of the global yacht maintenance and refit market in 2024, valued at USD 5.85 billion. This is expected to continue, driven by Europe’s rich maritime heritage and the region’s abundance of skilled craftsmen specializing in classic yacht restoration.
“The European market, particularly areas like the Mediterranean, has always been a hub for classic yachts,” Thierry Birles observes. “We’re seeing increased demand not just from private owners but also from charter companies looking to offer unique, luxury experiences to their clients.”
The Art of Classic Yacht Restoration
The restoration process often involves addressing structural issues, modernizing onboard systems, and refurbishing interiors while maintaining the yacht’s original character. Thierry Birles says, “When restoring classic yachts, we often encounter challenges such as sourcing authentic materials or adapting modern safety features without compromising the vessel’s historic essence. It’s a complex but rewarding process.”
Thierry Birles anticipates continued growth in the classic yacht restoration sector. “As more individuals recognize the value of these floating pieces of history, we expect to see increased investment in restoration projects. This not only preserves maritime heritage but also contributes to the sustainability of the yachting industry by extending the lifespan of existing vessels.”
