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Azimut Benetti is the world's leading manufacturer of megayachts

Superyacht

09/12/2022 - 13:16

Azimut|Benetti Group earns the most important recognition in the nautical sector: first place in the annual ranking of Global Order Book 2023 by the authoritative magazine, Boat International. The Group's primacy among builders of yachts over 24 meters follows from 53 years of passion for boating. Over the years, the family business has succeeded in combining technological innovation, elegantly impactful design solutions and a longstanding commitment to reduce emissions.

With 168 projects under construction, totaling 5,991 meters in length, Azimut|Benetti Group leads, for the 23rd time in a row, the annual ranking of the largest yacht builders known as the Global Order Book by Boat International. The British nautical magazine has been collecting and analyzing data on the superyacht market since 1992 to chronicle the scope of the sector, which has risen to global significance.

The prestigious acknowledgment asserts Azimut|Benetti Group, active on 5 continents, as the world's leading manufacturer among the 189 shipyards, both in number of projects and total length. The gap between first and second place grew sharply over the past year, as the Italian company founded by Paolo Vitelli extended its order portfolio into 2027, recording a production value of more than 1.2 billion euros for the current year.

(Courtesy of Boat International Media Limited)
(Courtesy of Boat International Media Limited)

The factors underlying the company’s lasting success are many, with their roots in a product strategy, a business model and an entrepreneurial vision that have stood the test of time, unmoved by market trends.

Product Strategy

Technological innovation is one of the pillars supporting the success of Azimut|Benetti Group, which plans to invest 130 million euros in R&D over the next 3 years. While the effort aims at the development of new products and the use of cutting-edge technologies, above all it has delivered significant results in terms of sustainability. A rapidly growing share of yachts produced by the Group guarantee a 20 to 30% reduction in fuel consumption, and therefore CO2 emissions, compared with equivalent shaft line models with hard-chine hulls. This result has been achieved by combining three key factors: the adoption of innovative propulsion systems including hybrid and electric; the development of increasingly efficient hulls, tailored to master the challenges of each model’s mission; and extensive use of carbon fiber to reduce weight.

Business Model

Azimut|Benetti Group owes its record-holding place, in part, to being a family-run business with a strong international vocation, together with other important aspects such as customer and marina services. The network, consisting of 80 dealers operating out of 138 sales and assistance offices all over the World, is built on an entrepreneurial culture of exceptional financial reliability. It’s essential, especially with regard to yachts with large volumes. The skills of the managers proved, once again, to add value as well. The presence of the second generation of the Vitelli family at the top of the company with Giovanna Vitelli as Vice President, and of Marco Valle as the CEO who boasts 25 years with Azimut|Benetti Group, in which he has covered numerous roles of great responsibility, exemplifies the company's culture of growth from within that promotes the development of assets to gain a competitive edge.

Entrepreneurial Vision

Building the most beautiful, reliable, technological and innovative boat, and assisting her always and everywhere, is the mission of Azimut|Benetti Group, which has always remained faithful to its values over 53 years in business. Particular attention has always been paid to developing trusting, lasting and even multi-generational relationships with employees and suppliers, with the aim to increase the shipyard's production cycle by sharing the opportunities for growth and future development. Born of this entrepreneurial spirit, the Sea Your Future talent program, launched in 2022, has attracted the interest of more than 600 candidates from the best Italian and European universities with the chance to join an established international business that has recorded a 10% growth in new hires across all divisions.

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