Italy’s Azimut-Benetti Group has been crowned the world’s top producer of megayachts in ShowBoats International’s 2017 Global Order Book, with a record 2,594m (8,551ft) of yachts over 24m under construction at its six production plants.

Azimut-Benetti dominates the ranking, setting the record for the 17th consecutive year in a row.

Azimut-Benetti has 65 projects in progress, including four gigayachts of over 100m. The average size of megayacht produced by Azimut-Benetti is now 131ft.

Having closed fiscal 2015/16 with a production value of €700m, Azimut-Benetti says its strength lies in ongoing investments in product development combined with the role it plays as a standard-bearer for Italian quality and yacht-building excellence worldwide.

“Such long-standing success is the result of constant development and improvement of its products and their production processes, with a focus on innovation and technology that has always been a feature of the company’s DNA,” says the company in a statement. “First-rate projects, along with industrially and financially viable shipyards, are the key factors in achieving this result.”

In the three months ended November 30, 2016, Azimut Yachts, the division accounting for 50% of Azimut-Benetti Group revenue, has developed high portfolio orders of over €200m equivalent to 165 boats. Such a portfolio represents a 17% rise in value and 12% growth in volume compared to last year.

Showboats International's Global Order Book is published annually, providing an accurate performance report on actual orders for yachts measuring 80ft in length and over.