Fox Business interviews NMMA president about state of industry
The $230 billion U.S. recreational boating industry was featured on FOX Business in three segments on January 24 from the Discover Boating New York Boat Show, in partnership with Progressive Insurance. NMMA President and CEO Frank Hugelmeyer was interviewed by FOX Business Correspondent Madison Alworth on the show floor, touching on the state of the recreational boating industry, the impact of American boat manufacturing and the industry’s outlook for 2025.
“We’re always in communication with the Administration, and we’re confident because of President Trump’s love of domestic manufacturing and his desire to strengthen American manufacturing, that he’ll work to ensure that industries that are globally dominant will remain dominant and even get stronger,” said Hugelmeyer.
The recreational boating industry is a significant driver of the $1.2 trillion outdoor recreation economy and a strong employer of small businesses and American families. Approximately 93 percent of boat manufacturers are small businesses, and 95 percent of boats sold in the U.S. are made in the U.S. The majority of boat owners in the U.S. (61 percent) have a household income of $100,000 or less.
While at the five-day show, FOX Business interviewed boat show attendees who expressed optimism about the economy. One attendee said, “I feel good about the economy. I think the new administration, stocks are going to go up, money will be flowing, and we’ll be good to go. We’ll be good to purchase high items like these boats.”
Alworth explained that while there are signs of improvement for boat builders, there are also concerns about tariffs. Alworth noted that the last time President Trump imposed tariffs, American boat builders faced retaliatory tariffs from Canada, the industry’s largest export market, as well as the UK and the EU.
Hugelmeyer told FOX Business, “We need a carved-out approach to tariffs to position the American boatbuilder globally, and we’re looking forward to working with the Trump Administration to do just that.”
