DUBLIN--(BUSINESS WIRE)--The "Rescue Hoists and Cargo Winches Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Application, and End Users" report has been added to ResearchAndMarkets.com's offering.
The increasing investment by government organization as well as growing demand from military forces is a major factor driving the growth of the rescue hoists and cargo winches market. Countries in various regions, such as Asia Pacific, Europe, North America, Middle East & Africa, and South America, are heavily investing in procuring the most advance and highly capable rescue hoists and cargo winches. Rescue hoists are used in approximately one in four government owned helicopters across the world. Rescue hoists and cargo winches are used to support the personnel during rescue, insertion, or extraction operation.
The rescue hoists and cargo winches market is segmented into type, application, and end users, and geography. Based on type, the rescue hoists and cargo winches market is further segmented into hoists, winches, and ground support equipment. In 2020, the hoists segment accounted for a significant share in the global rescue hoists and cargo winches market. Based on application, the rescue hoists and cargo winches market are further segmented into search and rescue, medevac, utility, and law enforcement and firefighting. In 2020, the search and rescue segment accounted for a significant share in the global rescue hoists and cargo winches market.
Based on end-users, the rescue hoists and cargo winches market are further segmented into military forces, law enforcement agencies, fire fighters, and medical evacuation crews. In 2020, the law enforcement agencies segment accounted for a significant share in the global rescue hoists and cargo winches market. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, the North America segment accounted for a significant share in the global rescue hoists and cargo winches market.
The rescue hoist and cargo winches market players' businesses have been severely affected by destabilization in aircraft (both fixed wing aircraft and helicopters) production. The situation and cargo winches market players had been worsened by the substantial disruption in component supply chain. Since, the rescue hoist and cargo winches are electro-mechanical products, the disruption in electronics and mechanical parts supply chain due to border closures have negatively impacted the production volumes of rescue hoists and cargo winches.
This factor hindered the growth of rescue hoists and cargo winches market. The lower production of helicopter volumes resulted in less than usual demand for rescue hoists and cargo winches among the helicopter manufacturers. According to General Aviation Manufacturers Association (GAMA), the helicopter shipment dropped by 19.2% from 2019 to 2020. Further, several fixed wing aircraft such as Boeing C17 and Embraer KC-390 and others that use cargo winches also experienced lower production in 2020. Thus, lower output of fixed wing aircraft and helicopters resulted in a drop in demand for rescue hoists and cargo winches, thereby negatively impacting the growth of the market in 2020.
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Market Dynamics
Drivers
- Investment by Government Organization
- Continuous Demand from Military Forces
Restraints
- Weight of External Hoist Systems and Limited Attraction among Air Ambulance Service Providers
Opportunities
- Investment in Research & Development by Manufacturers
Future Trends
- Advancement in Hoists and Winches
Companies Mentioned
- Breeze-Eastern, LLC
- Dart Aerospace
- KubanAviaService
- LIFT-IT MANUFACTURING COMPANY, INC
- VINCORION
- Zephyr International
- Collins Aerospace, a Raytheon Technologies Corporation Company
- Honeywell International Inc.
- Sika Interplant Systems Limited
- Lite Flite ApS
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