"The Asian yacht building market is booming," said John Lu, president of Taiwan's leading megayacht builder, Horizon Yachts. But he said he hasn't felt the competition yet. "The newcomers are focused on cheaper yachtbuilding, so the market is naturally differentiated.

Horizon, for its part, has made a substantial investment in its staff, employing and educating more than 1,100 workers, most of whom have benefited from the country's strong apprentice tradition. The company also has 10 in-house designers with master's degrees in navel architecture.