Revolutionizing the Recreational Marine Industry: Highlights from the Top 10 Most Innovative Companies

The recreational marine industry is witnessing a renaissance, largely fueled by ingenuity and resilience in response to the unprecedented challenges of recent years. The Soundings Trade Only’s third annual Top 10 Most Innovative Companies competition spotlighted this remarkable innovation. In 2020, applications surged by a staggering 42%, demonstrating the depth of vision and ingenuity within the sector. A panel of industry veterans, including editors and former marine executives, had the daunting task of selecting the winners. Here’s a closer look at the standout companies making waves in the marine world.

Correct Craft: Leading the Charge

For the second year in a row, Correct Craft emerged as the overall winner, thanks to its commitment to innovation. CEO Bill Yeargin is the catalyst behind this growth, advocating for disruptive technologies through Watershed Innovation, a subsidiary focused on sustainable propulsion solutions. Under his leadership, Correct Craft delivered its first fully electric Super Air Nautique GS22E at the end of August. This innovative vessel boasts a 124-kWh battery that supports two to three hours of water sports usage.

Beyond sustainable tech, Correct Craft expanded several facilities, enhancing efficiency and product offerings. The company also hosted the inaugural Marine Industry Culture Summit, promoting the importance of a positive workplace culture within the industry. Yeargin emphasizes that investing in company culture correlates with financial success.

Brunswick, Mercury Marine, and Power Products: The Power Trio

Brunswick Corporation, alongside Mercury Marine and Power Products, has taken bold steps into the future of boating. Their appearance at the Consumer Electronics Show showcased the Sea Ray SLX-R 400e, which promises a leap toward electrification not just in propulsion but in onboard subsystems. Utilizing Mastervolt’s battery technology, the company aims for a more integrated energy solution.

Power Products made strides with its new line of power conversion equipment, designed to integrate seamlessly into boat operations. CZone, a brand under its umbrella, launched self-contained digital switching modules for smaller boats, revolutionizing system management.

Moreover, Brunswick’s ongoing commitment to Corporate Social Responsibility shines through its donation of over 26,000 personal protective equipment (PPE) items to first responders.

Malibu Boats: Safety Meets Innovation

Malibu Boats has made remarkable strides, hitting a milestone of 4 million work hours without a lost-time accident. Following the challenges posed by the pandemic, the company continued to innovate, introducing several new models that reflect consumer demand. A significant investment in external facilities underscores its commitment to expanding production and meeting the market’s needs amidst the pandemic’s disruptions.

Garmin: Charting the Course of Innovation

Garmin is another player firmly entrenched in the DNA of innovation. By expanding its offerings across various segments, including marine electronics, Garmin has adapted rapidly to market needs. Among its noteworthy innovations is the Panoptix LiveScope, which enhances fishing experiences by providing real-time sonar images from multiple perspectives.

The company’s recent introduction of new platforms, including multifunction displays and advanced marine wearables, proves that innovation is not just a buzzword but a driving force at Garmin.

Volvo Penta: Redefining Marine Engineering

Swedish powerhouse Volvo Penta continues to revolutionize marine engineering with industry-first technologies such as joystick controls and its Duoprop stern drive. The latest advancements in their D4 and D6 engine lines reflect a keen focus on efficiency, backed by extensive testing and engineering.

Volvo’s Easy Boating initiative integrates innovative solutions designed with user experience in mind. The company’s Easy Connect app elevates the boating experience by offering users real-time engine diagnostics, safety alerts, and remote connections to service teams.

MarineMax: Bringing Boats to the Digital Age

MarineMax, the largest recreational boat retailer in the U.S., has enjoyed impressive growth, recording a 37% increase in same-store sales. Amid the pandemic, it adapted its sales strategies by emphasizing an online presence, launching virtual events, and enhancing customer engagement through various digital platforms.

The company continues to invest in technology and develop apps aimed at simplifying boat maintenance and customer communication, successfully merging the traditional boating experience with modern digital solutions.

Dometic Marine: Enhancing the Mobile Lifestyle

Dometic Marine is committed to making life on the water more comfortable and convenient. They recently unveiled several innovative products, including advanced air conditioning systems and remote steering actuators, which aim to enhance the boating experience fundamentally.

Their focus on addressing common challenges faced by boaters with practical, user-friendly solutions positions them as key contributors to the marine sector’s evolution.

Seakeeper: Stabilizing the Experience

Seakeeper has taken the marine stabilization game to new heights with the introduction of its Seakeeper 1, the smallest gyroscopic stabilizer for boats up to 30 feet. This compact unit promises to eliminate 95% of rolling motion, offering a smoother ride. Compatibility with multiple display systems ensures that users can easily monitor and control their stabilization systems.

Siren Marine: Connectivity at Sea

Siren Marine aims to solve connectivity issues for boaters. With the Siren 3 Pro technology, users gain a comprehensive monitoring system capable of keeping track of vital aspects of their vessels, from battery levels to engine diagnostics. Their recent expansion into European markets shows a commitment to global growth in the marine IoT landscape.

BRNKL by Barnacle Systems: Smart Solutions for the Future

The Canadian startup Barnacle Systems made a significant mark with its BRNKL Mate system, which utilizes smart home technology for marine applications. This innovative approach simplifies remote monitoring for boaters while its partnerships for environmentally responsible tracking products have positioned it as a forward-thinking player in marine technology.

Honorable Mentions: Innovation Across the Board

Several companies, including Derema Group and Scout Boats, showcased their adaptability during the pandemic by pivoting to deliver digital solutions and keeping their product lines active.

Innovative advancements from Suzuki and Yanmar emphasized continued evolution in the marine world as companies think beyond traditional methods, embracing new technologies to achieve sustainability and operational excellence.

These companies illustrate how the recreational marine industry is rising to new challenges, all the while keeping innovation at the forefront of their missions. Each entry in this list reflects a commitment to making the boating experience safer, more enjoyable, and environmentally friendly. As we navigate these changing times, the spirit of innovation continues to steer the industry towards a promising future.