Industry 5.0 is emerging as a novel approach in manufacturing, with focus on sustainability, resilience, and human centricity. This study investigates the complex and comprehensive Industry 5.0 concept, its relevance for the craft manufacturing paradigm and the role of technology in the industry transition towards Industry 5.0. Findings are based on empirical data from a research and development project with Norwegian leisure boat manufacturers, and results of previous research projects within the boat building industry. The boat building industry is a traditional hand-craft industry with high degree of manual labour. Findings show that this industry have several suitable conditions for developing strong capabilities related to sustainability, resilience, and human centricity. The investigated case companies, characterized as craft manufacturers, seem to have limited knowledge of both Industry 4.0 and Industry 5.0. Despite that previous research projects have included technological elements, advanced technologies are still scarce in production processes.