With Dubai Boat Show postponed until November, and just over a month until this year’s Palma International Boat Show (which runs from 29 April to 2 May), MIN has taken the temperature of PIBS exhibitors and found that optimism hasn’t disappeared – but it has been reshaped by caution, operational focus, and a sharper eye on reliability.
A market that has learned not to overreact
After several years of disruption and with yet more geopolitical unrest, the marine industry is still entering Palma with a cautious mindset. There is confidence – but without the exuberance seen in previous years.
“We would describe ourselves as cautiously positive,” says Olga Skrońska, group marketing manager for Marineworks (a technical service provider, specialising in the equipment, design, service, and integration of systems for yachts and other craft).
“The market feels steady, with continued demand in the repair and refit segment, and a clear awareness among owners that systems need to be maintained and addressed before they become critical issues.
“We don’t expect a dramatic shift compared to last year, but the tone of conversations may be slightly more focused,” Skrońska adds.
That sentiment – stable rather than resurging – is echoed across different parts of the market. Toby Maclaurin, CCO of Ocean Independence (yacht brokerage), points to activity across charter and sales markets.
“Enquiry levels are nicely up on last year, particularly for charter, and despite a record-breaking Q4 25 for us in charter, Q1 26 is developing to be at least as strong as Q1 25.
“This, combined with a more active sales and purchase market, gives us confidence for 2026 – provided that conflicts can be de-escalated and economic impacts are short-term.”
In 2025, MIN’s Palma commentary panel mentioned that Palma 2025 was a ‘buyers’ market’ given the then geopolitical uncertainty.
This shift reflects a broader recalibration across the sector. Growth is no longer the dominant narrative; attention is turning to how projects are executed, maintained, and sustained – especially in the current climate.
Market shaped by uncertainty but not defined by it
While geopolitical instability continues, its impact is currently being absorbed rather than reacted to.
“At the moment, we don’t see a direct impact on our Palma strategy. We work primarily with European suppliers, so our supply chain remains relatively stable,” says Skrońska.
The sector has already been through multiple shocks in recent years, shaping how businesses now respond.
“Over the past few years, the industry has already been tested by several major global disruptions, which forced everyone to adapt quickly,” she adds.
Underlying demand from considered and selective buyers
“At this stage, current geopolitical dynamics are not significantly impacting our strategy,” agrees Giovanni Aprea, sales director, Apreamare. “We remain focused on consistency and long-term positioning.
“The yachting sector continues to benefit from a strong underlying demand, and we believe that this solid foundation will support a stable evolution of the market going forward. We would describe our outlook as ‘cautiously optimistic’. While the market has gone through more complex phases in recent years, it has consistently demonstrated resilience,” Aprea continues.
“That said, we are observing a more cautious approach from clients, with longer decision-making processes. Compared to previous years, purchasing timelines have extended, reflecting a more considered and selective buying behaviour.”
Silvio Pupino of Elettromedia (director of marine sales) says there is uncertainty for smaller OEMs.
“I believe the marine industry in general is facing some slowdown, and the new geopolitical situation is not helping OEMs,” says Pupino.
“With the price of petrol increasing the small boat producers will also face more challenges.”
Buyer intent remains healthy
Sanlorenzo Yachts UK’s MD Nick Hatfield is staunch. “From what we have seen so far this year, buyer intent remains healthy.
“Our approach to Palma remains consistent. We enter every show with a clear sense of purpose, coupled with thorough preparation and a focus on delivering a highly personalised experience for each client. That does not change in response to short-term external factors.
“At the premium end of the sector, where Sanlorenzo and Bluegame are positioned, demand tends to fluctuate less. Established brands with strong heritage and quality product continue to perform well.”
“The wider geopolitical landscape is complex, but our strategy is grounded in long-term relationships rather than reactive decision-making. What gives me real confidence this year is the strength of our team.
“The situation in the Middle East will undoubtedly feature in discussions [at the show], not least due to its impact on energy markets. Rising costs and potential issues in supply chains are considerations for all manufacturing sectors, including yachting.”
Client valuing time onboard means market is in good place
Maclaurin believes Ocean Independence is fortunate in that its clients ‘highly value’ their time afloat with family and friends.
But: “Like everyone, what keeps us awake is how the local people are affected in the conflict zones. As an industry, we usually find a way to adapt, and the support of our customers always gives us optimism.”
In 2025, the Palma exhibitors which MIN spoke to said that ostentatious design was giving way to quiet luxury.
Gianni Zucco, co-founder of HP Watermakers, notes that larger boats are an asset.
“We have experienced from the covid time, that all the crisis periods make the public consider the yacht as an escape island, so larger boats are becoming a sort of ‘safe haven asset’.”
Resilience at the core
For all the caution, the comments feel robust.
“We would describe ourselves as cautiously positive. The market feels steady, with continued demand in the repair and refit segment,” says Skrońska.
Giovanni Aprea believes that clients are becoming more discerning and informed in their choices and as such, he expects “increasing attention on value, customisation and brand identity. As always, conversations will revolve around product quality, design, performance and onboard experience.”
Silvio Pupino adds a cautionary note about brand differentiation.
“In general [there is] concern that the market is a bit more soft compared to last year but [I am] optimistic that the best brands will always have a place in the market,” says Pupino.
Maclaurin expects to have conversations about changing landscapes. “Aside from worldly topics, there are industry challenges,” he says. “Some shipyards are facing tough times.”
Reliability becomes the central currency
One theme vying to dominate Palma is reliability – not as a buzzword, but as a core operational priority.
“From our perspective, clients are approaching discussions with a clear emphasis on reliability, planning, and technical readiness,” says Skrońska.
“We expect conversations to centre around reliability and preparedness for the season, with a strong emphasis on preventative maintenance and ensuring systems perform consistently under high usage.”
Hatfield also hints at how reliability intersects with buyer experience at the high end.
“There is a real difference between viewing a yacht on paper and experiencing it afloat, and it’s this experience that helps clients progress with confidence through the buying process.”
Gap between awareness and action
Despite growing awareness of reliability, a disconnect remains between understanding and execution.
“At the same time, while this awareness is growing, preventative maintenance is still not always the first priority,” says Skrońska.
“There is often a tendency to act once a problem becomes visible, rather than fully proactively.”
Palma Boat Show as a working forum, not just a showcase
All of this plays directly into what Palma represents: not just a place to be seen, but a place to solve problems.
“While visibility plays a role, the real value lies in face-to-face conversations – understanding upcoming projects and discussing technical challenges,” says Skrońska.
“Palma continues to stand out because of its strong technical community, where conversations go beyond sales and into real operational challenges faced by crews and technical managers.”
Maclaurin (pictured) highlights the show’s human and practical sides.
“While we embrace the digital, we remain committed to the personal as well, and the Palma show is a shining example of putting yachts and people first; we wish other yacht shows would have remained so clearly focused.”
Arena for driving decisions and purchases
Nick Hatfield notes the show drives real decisions and purchases.
“That energy translates into meaningful conversations and, ultimately, into decision making and purchase,” says Hatfield.
Palma is likely to benefit from the cancellation of the Dubai Boat Show in terms of numbers, reckons Zucco. Those who “normally attended Dubai and not Palma, will be seen in Mallorca this year.
“Everyone will be discussing the war, Hormuz Strait, and the consequent energy price rise. I am sure this will be on everyone’s mind,” Zucco says.
Silvio Pupino believes that Palma sets the seasonal tone. “It is a good gauge to see what the trend will be. It is the first show of the season in Europe,” while Zucco notes, “Palma is the only Spanish boat show left where all the shipyards of the boating industry are attending. The Palma boat show represents the unique and real international yachting industry hub in the middle of the Mediterranean Sea.”
“Palma and the Balearic Islands are among the most iconic yachting destinations in the Mediterranean, offering the ideal setting to strengthen relationships with existing clients while engaging with new prospects,” says Aprea. In collaboration with its local partner, Island Yacht Broker, Apreamare will showcase the Gozzo 35 alongside its flagship Gozzo 45 (making its debut at Palma). “We do not expect major changes in terms of attendance or the overall quality of visitors. Palma continues to attract a highly targeted and international audience.”
As Maclaurin concludes: “Palma is a great show to visit, easy to access, relaxed, not overcrowded or overhyped.”
Information about PIBS tickets and exhibitors can be found on the show’s website.
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