The four crew have been taken to Southampton General Hospital following the incident on Wednesday morning

A speedboat was involved in a dramatic accident early on Wednesday morning after crashing into a navigation buoy just outside the River Hamble.

Onlookers could only watch in horror as the Vector Martini prototype flipped upside down after colliding with a cardinal marker just after 8am.

Engineers suspect a mechanical failure led to the accident that saw all four crew hospitalised.

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The coastguard received multiple 999 calls from members of the public shortly after the incident occurred close to the Warsash Maritime Academy.

A search and rescue helicopter from Lee-on-Solent was sent to the scene, along with two RNLI lifeboats from Calshot.

All four men on board were injured during the incident, with Race Boat International reporting that the crew included chief pilot of the Vector Martini Racing team, Peter Dredge, Simon Wood Power, an employee of Ross-Smith Marine and Peter Dredge’s son, Simon.

Coastguard helicopter attended the scene

Coastguard helicopter attended the scene

Maritime Operations Controller James Way said: “Our rescue assets were on scene quickly. All four people were transferred by lifeboat to the shore, they are all being taken to Southampton General Hospital by road ambulance.”

Vector CEO Malcolm Crease said: “Everyone is okay, there are no serious injuries, but they are a bit shaken.”

The harbour master was later pictured towing the capsized vessel back into the River Hamble.

Local police and the MAIB have been informed and have launched an investigation into how the accident happened.