Does all wall panel work to make an airboat?...or is it just that hard hard wood kind?

I wouldn't use wall panelling if it's what I'm thinking that you want to use. Most of it is a pressed board that would fall apart very quickly when wet. some people have used door skins of hollow doors to make boats out of. I heard of a lot of Crackerboxes being built with this way.

what if the wall panel is painted? so therefore is waterproof...would it still fall apart?