Lyman-Morse Boatbuilding
Custom yacht builder and advanced manufacturing company offering metal additive manufacturing, CNC machining, and composite fabrication for marine, defense, and industrial applications
- CEO / Founder
- Drew Lyman
- Team Size
- 51-200
- Stage
- Established
- Latest Round
- Grant
- Key Investors
- Maine Technology Institute (MTI)
Technology & Products
Key Products
Custom sailing and motor yachts; LM Workboats (aluminum fire, patrol, utility, landing craft, water taxi vessels); Advanced Composites Center (composite fabrication, rapid prototyping); Lyman-Morse Technologies (CNC machining, EOS M290 metal additive manufacturing with SS316L, systems integration); Marine service and refits; Marina and brokerage services
Technological Advantage
EOS M290 metal additive manufacturing system for SS316L; 3- and 5-axis CNC machining; advanced composites fabrication; ITAR-compliant facility; ISO 9001:2015 certified; integrated advanced manufacturing campus combining metals, composites, and additive manufacturing
Differentiation
Value Proposition
Combines 45+ years of boatbuilding craftsmanship with advanced manufacturing technologies (metal AM, CNC, composites) to serve marine, defense, and industrial customers from a single integrated campus
How They Differentiate
Unlike traditional boatbuilders, Lyman-Morse has diversified into advanced manufacturing (metal AM, CNC, composites) serving non-marine industries (defense, industrial, architectural), creating a more stable revenue base and technology cross-pollination
Market & Competition
Target Customers
Yacht owners, commercial marine operators, US Department of Defense, industrial OEMs, government agencies, and architectural/industrial fabrication clients
Industry Verticals
Marine (yacht building, workboats); Defense (ITAR-compliant manufacturing); Industrial fabrication; Commercial transportation (electric ferries); Architecture (composite structures)
Competitors
Hodgdon Yachts (Maine); Derecktor Shipyards (New York/Florida); Palmer Johnson (Wisconsin/Texas)
Growth & Milestones
Major Milestones
1978: Founded by Cabot Lyman; 2014: Drew Lyman takes over as President; 2015: Acquired Wayfarer Marine in Camden; 2020: Partnership with Hood Yachts begins; 2025-2026: Construction of 15,000 sq ft Advanced Composites Center with MTI grant support; EOS M290 metal AM system installed at Lyman-Morse Technologies
Notable Customers
US Department of Defense; Merrimack Valley Transit (MeVa - electric ferries); Anderson County (SC) - landing craft; Chanel (composite display cases); MBTA Kendall Square (canopy structure)