The rescue hoists and cargo winches market size is projected to reach US$ 3,581.92 million by 2031 from US$ 1,823.22 million in 2023. The market is expected to register a CAGR of 8.8% during 2023–2031. The growing investment in research & development by manufacturers and rising demand from the defense sector are likely to remain a key trend in the market.
The direct impact of the high demand for rescue hoists is, however, on the rescue hoists and cargo winches providers/manufacturers who cater to a variety of military and defense needs. The rising expenditure of military and defense capability and the growing need for replacing old and obsolete hoists and cargo winches are creating the demand for advance rescue hoists and cargo winches. The service providers usually provide retrofitting services to the end-user. OEMs generally work in partnership with them in order to reach the end-user effectively. These service providers procure hoists and winches from the OEMS and integrate the same in the helicopters. The end-user is the defense department, firefighting department, medical evacuation team, or maritime department of a country, who directly make purchases of rescue hoists and cargo winches from the OEMs or the retrofitting service providers.
The major stakeholders in the global market ecosystem include component manufacturers, rescue hoists and cargo winches manufacturers, suppliers and end-users. With the rising demand for rescue hoists and cargo winches across the globe, the component providers of hoists and cargo winches are also experiencing a rise in demand. The components of rescue hoists include winch motor metal, among others. The component manufacturer works in tandem with the OEMS to offer reliable components that comply with the technical specifications.
There is a continuous demand for advanced and capable SAR helicopters and rescue hoists and winches from the military forces of developing countries. The Indian government procured 14 Twin-Engine Heavy Helicopters for Indian Coat Guards in January 2021. These helicopters are anticipated to be operational by 2025–2026. These instances of continuous procurement of new and advanced SAR helicopters have created immense opportunities for component producers of such helicopters, comprising rescue hoists and cargo winches producers, to advance innovative products with improved competencies.
The design and technology of rescue hoists have advanced steadily. At present, hoists and winches have become powerful and reliable components for rescue and other emergency services. Manufacturers operating in the market have invested ample time and money to enhance the quality and capability of hoists and winches. For instance, Collin Aerospace introduced rescue hoists with an improved traction drive, better cable handling, and a level wind system to enhance reliability. There has also been mechanical improvement in the hoist and winches, which has made them user-friendly, which is projected to fuel the growth of the rescue hoists and cargo winches market over the forecast period.
Key segments that contributed to the derivation of the rescue hoists and cargo winches market analysis are type, application and end users.
The geographic scope of the rescue hoists and cargo winches market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The scope of the rescue hoists and cargo winches market report encompasses North America (the US, Canada, and Mexico), Europe (Russia, the UK, France, Germany, Italy, and the Rest of Europe), Asia Pacific (South Korea, India, Australia, Japan, China, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa), and South & Central America (Argentina, Brazil, and the Rest of South & Central America). In terms of revenue, North America dominated the rescue hoists and cargo winches market share in 2023. Asia Pacific is the second-largest contributor to the global rescue hoists and cargo winches market, followed by Europe.
The regional trends and factors influencing the Rescue Hoists and Cargo Winches Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Rescue Hoists and Cargo Winches Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1,823.22 Million |
| Market Size by 2031 | US$ 3,581.92 Million |
| Global CAGR (2023 - 2031) | 8.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Rescue Hoists and Cargo Winches Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Rescue Hoists and Cargo Winches Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The rescue hoists and cargo winches market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the rescue hoists and cargo winches market are listed below:
The “Rescue Hoists and Cargo Winches Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America dominated the rescue hoists and cargo winches market in 2023.
The increasing investment in research & development by manufacturers is the future trend of the rescue hoists and cargo winches market.
Breeze-Eastern, LLC, Dart Aerospace, KubanAviaService, Lift-It Manufacturing Company, Inc., Vincorion, Zephyr International, Collins Aerospace, Honeywell International Inc., Sika Interplant Systems Limited, Lite Flite ApS are some of the leading players in the market.
US$ 3,581.92 million estimated value of the rescue hoists and cargo winches market by 2031.
8.8% is the expected CAGR of the rescue hoists and cargo winches market.