In the latest Forecast on U.S. Boat Building Production from ITR Economics, growth in boat building production is expected to peak this summer before moderating slightly thereafter.
According to ITR's forecast, at its lowest (Spring 2020), production is expected to be on par with levels seen last winter (2018). By summer 2020, ITR is expecting steady acceleration in production through 2021.
Recommendations for managing growth in this business climate include:
- Investing in workforce development
- Ensuring quality control keeps pace with increasing volume
- Expanding distribution channels and ensuring you have the right price escalator while spacing out price increases
View the full report for additional detail here.