In this section

NMMA’s Q2 Leadership Survey Shows Guarded Optimism Ahead Amid Mixed Economic Indicators

| Statistics

As economic uncertainty continues to shape decision-making across the recreational marine industry, results from NMMA’s Q2 2025 Marine Leadership Barometer offer a measured but watchful outlook from executives across recreational boat, engine and accessory manufacturing sectors.

Fielded at the start of the busy summer season and completed on June 27, the Q2 Barometer reveals that 47% of respondents reported a cautiously optimistic view of the U.S. recreational boating industry over the next 12 months—holding steady from the previous quarter. Notably, boat and engine/propulsion manufacturers continue to drive this sentiment, signaling some stability in core segments. However, concerns around weakening consumer demand, first raised in Q1, appear to be gaining momentum. An increasing percentage of respondents expect product demand to decline over the next 12 months, tempering expectations for broader market expansion.
Key Findings in the Q2 Report Include:
  • More than a third (36%) of respondents view the next three months negatively, while just 13% expect a positive shift. Long-term optimism modestly improves, with 34% anticipating positive economic conditions over the next 12 months.
  • Business conditions show a similarly guarded view, 45% of respondents foresee a short-term decline, up slightly from last quarter.
  • Expectations for improvement one year out remain limited at 39%, signaling persistent concerns about macroeconomic pressures, interest rates, and geopolitical disruptions.
As in Q1, trade and economic policies remained the most cited source of concern among executives expecting negative outcomes in Q2. Uncertainty around tariffs, global supply chains, and regulatory shifts continued to pose challenges. Conversely, tax and policy measures were viewed more favorably, with respondents who are optimistic citing their potential to stimulate investment and growth.
Additionally, ongoing inflation, elevated housing costs, and uncertainty around job security are weighing heavily on household budgets, particularly for middle-income families, which make up approximately 50% of U.S. households, according to the Pew Research Center’s latest classification. Consumer confidence has remained fragile throughout the first half of 2025, with many Americans delaying discretionary purchases, including big-ticket items like boats, in favor of financial caution. Understanding these pressures can help manufacturers better align expectations and strategies with evolving market behavior.
Now in its second quarter, NMMA’s Marine Leadership Barometer continues to serve as a vital tool for gauging the evolving perspectives of industry executives. The findings not only inform business strategy but also guide NMMA’s advocacy and market expansion efforts, ensuring member voices are amplified across policy and regulatory discussions.
Only participating companies (those who responded to the survey) are eligible to receive the quarterly report in full. NMMA manufacturing member companies who did not complete the survey will receive the executive summary and are encouraged to participate in future surveys to obtain the full report. All NMMA members are eligible to purchase an annual subscription that includes all four quarterly reports for $3,500, or a one-time purchase per report for $1,000.
For more information or to take part in the survey, contact NMMA’s Rebecca Lark at [email protected].