According to the latest insights by Future Market Insights (FMI), the global rescue hoist systems market is set to be valued at over US$ 569.8 Million in 2022. The market is anticipated to expand at over 3.7% CAGR between the assessment period of 2022 to 2032. It is likely to reach US$ 822.3 Million by 2032.
According to Future Market Insights, the market for rescue hoists systems is primarily being driven by high demand from the search and rescue operations team in the military and defense sector. Besides, growing use of emergency rescue and response operations by disaster response and rescue assistance groups around the world would drive the market.
Surging use of latest technologies in the field of rescue hoist systems to achieve better results is another crucial factor that would push the market. According to FMI, defense remains the top user of rescue hoist systems. The segment is anticipated to remain dominant throughout the forecast period. The defense sector accounts for a sizable share of the world’s helicopter fleet. Combat helicopters are also set to be a leading user of rescue hoist systems, as compared to other helicopters.
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Key Takeaways from Rescue Hoist Market Study
- South Asia & Pacific rescue hoist system market is estimated to witness a CAGR of 2% throughout the forecast period (2022-2032).
- The rescue hoist system market holds around 3-8% of share in the global hoist system market.
- India rescue hoist system market is anticipated to grow at a CAGR of 6% in the forecast period.
- By capacity, the 0.15 to 0.5 tons segment is estimated to account for more than 66% of the market share by 2032.
- Based on end use, the defense segment is set to grow at a CAGR of 4% during 2022-2032.
“Increasing use of helicopters for maintenance, repair, and overhaul (MRO) services in the field of offshore wind turbines is projected to aid the global market. Besides, growing offshore oil production would create lucrative opportunities for key players present in the global rescue hoist market,” says a Future Market Insights analyst.
Competitive Landscape: Rescue Hoist System Market
In accordance with the changing regulatory frameworks, market leaders such as Breeze Eastern, VINCORION and Collins Aerospace are focusing on providing rescue hoist systems with improved capabilities. Some of the other companies are focusing on building strong relationships with major militaries for gaining long-term supply contracts.
Find More Valuable Insights on Rescue Hoist System Market
The research report analyzes demand for Rescue Hoist. The global Rescue Hoist market has been analyzed with various macroeconomic factors, market trends and market background. As per Future Market Insights, the market has been analyzed on the basis of type, drive mechanism, sales channel, capacity, end use and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both supply side and demand factors.
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Key Segments Covered in Rescue Hoist System Industry Analysis
By Drive Mechanism:
- Electric
- Hydraulic
By Type:
- Chain
- Cable
By Sales Channel:
- First Fit
- Retro Fit
By Capacity:
- Up to 0.15 tons
- 0.15 to 0.5 tons
- 0.5 to 1 tons
- More than 1 tons
By End Use:
- Defense
- Utility Operations
- Homeland Security
- Emergency Services
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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