Having issue with formsubmit event I guess. Below error is showing up while saving BoatSearch.
Failed to save BoatSearch.cmp: A aura:handler that specifies an event="" attribute must handle an application event. Either change the aura:event to have type="APPLICATION" or alternately change the aura:handler to specify a name="" attribute.: Source.
<!--BoatSearch.cmp-->
<aura:component implements="force:appHostable,flexipage:availableForAllPageTypes" access="global">
     <aura:handler name="formsubmit" event="c:formsubmit" action="{!c.onFormSubmit}" phase="capture"/>
       <aura:attribute name="eventMessage" type="String"/> 
    
   <lightning:card title="Find A Boat">
       <c:BoatSearchForm  />
    </lightning:card>
    <lightning:card title="Matching Boats">
       <c:BoatSearchResults aura:id="searchResults" />
    </lightning:card>
</aura:component>
<!--BoatSearchForm.cmp-->
<aura:component implements="force:appHostable,flexipage:availableForAllPageTypes" controller="fetchPicklistOptsController" access="global">
    <aura:handler name="init" value="{!this}" action="{!c.doInit}"/>
     <aura:attribute name="options" type="map" default="{Id:'value'}"/> 
     <aura:attribute name="boatTypeId" type="string" /> 
     <aura:attribute name="showNewButton" type="Boolean" default="true"/> 
      <aura:attribute name="formData" type="object" default=""/> 
    <!--<aura:registerEvent name="passBoatId" type="c.BoatId_serachform_BoatSerchResult"/>-->
    
    <aura:registerEvent name="formsubmit" type="c:formsubmit"/>
       <lightning:layout horizontalAlign="center" class="slds-align_absolute-center">
          <lightning:layoutItem padding="around-small">
              <lightning:select aura:id="boattypePicklist" value="{!v.options.Id}" onchange="{!c.onChange}" label="Alltype" required="true">
                  <option value="">All Types</option>
                  <aura:iteration items="{!v.options}" var="opt" indexVar="key">
                      <option text="{!opt.value}" value="{!opt.key}" selected="{!opt.key==v.options.Id}" />
                  </aura:iteration>
              </lightning:select>
          </lightning:layoutItem>
          <lightning:layoutItem padding="around-small">
              <lightning:button label="Search" class="slds-button slds-button_brand"  variant="brand" onclick="{!c.onFormSubmit}" />
              <aura:if isTrue="{!v.showNewButton}">
                  <lightning:button label="New" class="slds-button slds-button_neutral" variant="Neutral" onclick="{!c.NewBoat}"/>
              </aura:if>
          </lightning:layoutItem>
       </lightning:layout>
</aura:component>

<!--formsubmit.evt-->
<aura:event type="APPLICATION" description="Event template" >
    <aura:attribute name="formData" type="object"/>
</aura:event>
Please help me.