Cruise Ships Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 8/19/2024
SIC Codes: 4481, 4489
NAICS Codes: 483112, 483114, 483212
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Cruise Ships Industry Profile

Companies in this industry operate deep sea, inland, and coastal/Great Lakes cruise ships. Major companies in the deep sea cruise segment, which accounts for about 95% of industry revenue, include Carnival, Disney, Norwegian Cruise Line, and Royal Caribbean Cruises (all headquartered in the US); major operators based outside of the US include Color Line of Color Group (Norway), and Viking Line (Finland).

Top cruise destinations include the Caribbean, the Mediterranean, North America's West Coast, South America, and Alaska. Cruise is forecast to grow about 40 million passengers by 2027, according to the 2024 State of the Cruise Industry Report by Cruise Lines International Association (CLIA).

The US cruise ship industry includes about 500 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $25 billion.

COMPETITIVE LANDSCAPE

Demand for cruises is driven by consumer disposable income and vacation preferences. Small operators have the competitive advantage of lower labor and equipment costs and more personalized service; large operators benefit from stronger bargaining power in vendor contracting, the ability to spread costs over a larger number of passengers, and greater financial resources for marketing, expansion, and investment. The US deep sea cruise segment is highly concentrated: the four largest companies generate more than 95% of segment revenue.

PRODUCTS, OPERATIONS & TECHNOLOGY

The industry revenue is comprised of sales from entertainment and shopping facilities as well as passenger ticket sales. Many cruise lines offer all-inclusive packages in ...

 
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