Focused as we are on daily coverage of the high-performance powerboat world in which Mercury Racing and Mercury Marine products—particularly the engines from both Wisconsin-based companies—are integral, it’s easy to forget they fall under the Brunswick Corporation umbrella. Perhaps “forget” isn’t the right word, but speedonthewater.com’s focus is specific and most of what the worldwide, Illinois-based publicly traded company produces falls outside of our coverage.
By 2025, the leadership team at Brunswick Corporation hopes to gain more than 50 percent of the existing outboard engine market. Photo by Pete Boden copyright Pete Boden.
A recent Brunswick press release titled “Brunswick Corporation Launches 2022 Virtual Investor Day Highlighting Rapid Progress Powering Up Next Wave Strategy” jogged my memory. Among the company’s stated goals by 2025 are revenues of approximately $10 billion.
For purposes of comparison, Brunswick’s revenues for 2021 were $5.85 billion. That means the plan is to almost double revenues in the next three years.
The company has set several other benchmarks to reach during that time period including:
• Gaining more the 50 percent of the existing outboard engine market.
• Selling more than $3.25 billion in parts and accessories.
• Producing more than 35 autonomy, connectivity and electrification (ACE) products for the market.
• Growing the Freedom Boat Club to 575 locations worldwide.
Lofty goals, for sure, but Brunswick is huge. What we cover is a fraction—albeit an essential one for the high-performance powerboat world—of what it produces. And company leadership knows it.
“We believe we are the only company in the marine industry with the scope and scale to deliver such a transformational vision,” said David Foulkes, Brunswick’s chief executive officer, in the release. “I am energized by the momentum of our organization and the long-term growth potential of our unique, powerful and resilient business platform.”
Will Brunswick hit its targets? I wouldn’t bet against it.