Seakeeper says it expanded its assembly facility by 50% last year, thanks to increased demand for its stabilisation systems. The company did not release financial results, but called 2017 a “record-breaking year”.

A statement said that shipments last year were up 50% over the previous year. That resulted in a compound annual growth rate of 42% over the last five years.

Seakeeper added 12 new production lines to increase capacity to more than 6,000 units per year. The company also added 25 new employees and 27 dealers to its global network.

Seakeeper released two new products in 2017: the Seakeeper 3, the first DC-powered gyro, and the Seakeeper 6 for boats from 40ft-49ft. It said sales for units on boats under 50ft were up 130% year-over-year.

The company said that 2018 will include new product launches and the expansion of Seakeeper’s demo boat program to six boats around the world. The company will also open a new office in Lavagna, Italy. The facility will have storage for spare parts to allow quicker distribution across Europe.