VMAR accelerates global leadership in tender market, deploys strategic growth initiatives
by Vision Marine Technologies 31 Jul 07:33 PDT
Inflatable boat © Vision Marine Technologies
Vision Marine Technologies Inc. (NASDAQ: VMAR) ("Vision Marine" or the "Company"), a pioneer in high-voltage electric marine propulsion and a multi-brand boat retailer with a strong dealership network across Florida, today announced the expansion of its commercial activities across the global tender market—a high-turnover, high-impact segment in which the Company now holds a commanding position.
Following its acquisition of Florida-based Nautical Ventures Group, Winner of Boating Industry's Top 100 Dealer of the Year award in 2024, Vision Marine has become one of the largest US distributors of Highfield Boats—which bills itself as the world's number one manufacturer of rigid inflatable tenders. Highfield reports having delivered approximately 54,000 units globally since 2011. Vision Marine now accounts for a leading share of its North American sales.
From 2022 to 2024, Nautical Ventures Group, which Vision Marine acquired in June 2025, sold in excess of 600 tenders across its Florida-based dealership network, generating more than $14 million in revenue. In 2023 alone, Nautical Ventures sold more than 200 units, representing over $4 million in tender-related sales. These strong historical results—achieved prior to the acquisition—form the commercial backbone of Vision Marine's current tender strategy and reflect the performance capacity of the Company's seven high-volume dealership locations strategically positioned across Florida, the epicenter of U.S. recreational boating.
Vision Marine has also allocated a dedicated retail and service facility at 1440 South Federal Highway in Fort Lauderdale, focused exclusively on tenders and inflatables. This strategic property supports showroom expansion, accompanied by its marina which provides service capacity, aftermarket support for quick turnaround and on-site integration of both gas-powered and electric tenders, accelerating inventory turnover and operational readiness in this high-growth category.
"The tender is no longer just a yacht accessory—it's a standalone product category that delivers volume, visibility, and direct consumer engagement," said Alexandre Mongeon, CEO of Vision Marine. "This segment gives us early access to a new generation of boaters and fleet operators, many of whom are already shifting from ICE to electric. That makes tenders not only commercially strategic, but transformational for our business model."
The global inflatable boat market is expected to reach an estimated $4 billion by 2030 from $2 billion in 2023 at a CAGR of 7% from 2023 to 2030. Interest in electric propulsion is steadily increasing across the marine industry, particularly in the tender category, where size, use case, and user expectations align naturally with electrified solutions. Vision Marine is strategically positioned to serve this shift, combining its proprietary high-voltage electric technology with a growing retail footprint and integration expertise.
As part of its broader effort to accelerate inventory turnover and maximize retail performance across its store network, Nautical Ventures recently launched a limited-time tender promotion across all Nautical Ventures locations. The initiative is designed to create rapid movement of key models, increase showroom traffic, and support year-round sell-through—a shift that reflects Vision Marine's renewed focus on retail efficiency and high-frequency customer engagement.
Tenders now span a wide range of applications—from compact inflatables and luxury yacht support vessels to robust standalone boats used for diving, waterfront commuting, and light commercial activity. Vision Marine supports both internal combustion and electric configurations, including integration with the Company's own E-Motion™ 180E high-voltage electric powertrain. With full-service integration and delivery available through its dealership network, Vision Marine is uniquely equipped to meet growing demand for reliable, high-performance tenders.
The Company's scale and full vertical integration—spanning propulsion innovation, OEM collaboration, direct retail, and post-sale service—enables it to deliver unmatched consumer experience and operational control. Nowhere is this model more evident than in the tender segment, where Vision Marine plans to increase both market share and customer retention through a blend of volume strategy and premium support.
This focus on the tender segment—particularly its electrification—is designed to deliver long-term shareholder value through a combination of volume growth, margin expansion, and recurring revenue potential. As the market accelerates toward electric solutions, Vision Marine is leveraging its proprietary propulsion technology, dealership assets, and integration expertise to build a durable and scalable marine platform.