Rescue Hoists and Cargo Winches Market Report 2031
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.
Rescue Hoists and Cargo Winches Market Analysis
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.
Rescue Hoists and Cargo Winches Market Overview
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.
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Rescue Hoists and Cargo Winches Market: Strategic Insights
Market Size Value in US$ 1638.42 Million in 2020 Market Size Value by US$ 2734.50 Million by 2028 Growth rate CAGR of 7.3% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Rescue Hoists and Cargo Winches Market: Strategic Insights
| Market Size Value in | US$ 1638.42 Million in 2020 |
| Market Size Value by | US$ 2734.50 Million by 2028 |
| Growth rate | CAGR of 7.3% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Rescue Hoists and Cargo Winches Market Drivers and Opportunities
Growing Demand from Military Forces to Favor Market
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.
Advancement in Hoists and Winches
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.
Rescue Hoists and Cargo Winches Market Report Segmentation Analysis
Key segments that contributed to the derivation of the rescue hoists and cargo winches market analysis are type, application and end users.
- Based on the tool type, the rescue hoists and cargo winches market is divided into hoists, winches, and ground support equipment. The hoists segment held a larger market share in 2023.
- Based on the application, the rescue hoists and cargo winches market is divided into search and rescue, MedEvac, utility, and law enforcement and firefighting. The search and rescue segment held a larger market share in 2023.
- Based on the end users, the rescue hoists and cargo winches market is divided into military forces, law enforcement agencies, fire fighters, and medical evacuation crews. The law enforcement agencies segment held a larger market share in 2023.
Rescue Hoists and Cargo Winches Market Share Analysis by Geography
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.
Rescue Hoists and Cargo Winches Market Report Scope
Rescue Hoists and Cargo Winches Market News and Recent Developments
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:
- Dart Aerospace with Talon Helicopters has received approval from the Canada transport department to perform night hover refill operations. This operation of firefighting through air will also increase the demand for rescue hoists across the country. (Source: Dart Aerospace, Press Release, March 2021)
- Collins Aerospace announced the launch of the Pegasus hoist, which is completely digitally operated to enable pilotless helicopter rescue operation for its clients. (Source Collins Aerospace, Press Release, January 2020)
Rescue Hoists and Cargo Winches Market Report Coverage and Deliverables
The “Rescue Hoists and Cargo Winches Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Rescue hoists and cargo winches market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Rescue hoists and cargo winches market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Rescue hoists and cargo winches market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the rescue hoists and cargo winches market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , Application , and End Users
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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