The North America rescue hoists and cargo winches market is expected to grow from US$ 648. 37 million in 2021 to US$ 992. 18 million by 2028; it is estimated to grow at a CAGR of 6. 3% from 2021 to 2028.
New York, July 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Rescue Hoists and Cargo Winches Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Application, and End Users" - https://www.reportlinker.com/p06103282/?utm_source=GNW
Increasing demand from military forces is expected to surge the North America rescue hoists and cargo winches market. There is a continuous demand for advance and capable SAR helicopter and rescue hoist and winches from military forces of North American countries. The US, one of the prominent countries in North America, is investing on the procurement of the second-generation or 2G SAR service. The US marine agencies is looking for helicopters that are equipped with emerging technologies such as UAVs or even high-altitude pseudo-satellites for surveillance. These helicopters will be used for maritime surveillance, SAR, medical evacuation, casualty evacuation, and logistics support to ships as well as pollution response sorties. These instance of continuous procurement of new and advance SAR helicopters across North America has created immense opportunity for component manufacturers of such helicopters including rescue hoists and cargo winches manufacturers to develop innovative products with enhanced capabilities. So, the growing demand of helicopters is expected to escalate the demand of rescue hoists and cargo winches, thereby driving the North America rescue hoists and cargo winches market.
In case of COVID-19, the US is the worst-hit country in North America, with thousands of infected individuals facing severe health conditions across the country.The US is the highest military spender across the globe and has a substantial number of defense contractors across its borders.
During Q2 and Q3 of 2020, the majority of the manufacturing plants were either temporarily shut or operating with minimum staff; the supply chain of equipment and related components are disrupted; these are some of the critical issues in the country.In addition, the demand for defense equipment has been showcasing a slowdown since the outbreak of the virus in the country.
The US has a substantial number of rescue hoists and cargo winches manufacturers; however, the emergence of the pandemic has resulted in slower than usual growth in procurement of hoists and winches on helicopters and fixed wing aircraft.The US and Canada have notable general aviation aircraft manufacturers involved in manufacturing helicopters for law enforcement agencies, firefighting teams, and medevac teams.
The helicopter manufacturers witnessed significant lower volumes in terms of production, thereby limiting their procurement volumes of rescue hoists and cargo winches, which ultimately hampered the rescue hoists and cargo winches market.
The hoists segment led the North America rescue hoists and cargo winches market based on type in 2020.The design of helicopter rescue hoists has improved gradually since they were first put into use in the 1940s.
A hoist consist of a hydraulic or electric drive system that winds a cable around a drum and includes a braking system.There are a number of manufacturers of rescue hoists who have been investing in R&D to manufacturer best in class rescue hoist.
For instance, Collin Aerospace, over a period has developed hoists that have improved traction drive, better cable handling, and level wind system to enhance reliability.The hoists are used by foreign military bases and coast guards, as well as police forces, firefighters, medical evacuation crews, and private operators across the North America region.
Advantages of hoists such as cost effective, less noise, highly durable, high load capacity etc. are expected to increase its demand, thereby driving the North America rescue hoists and cargo winches market.
The overall North America rescue hoists and cargo winches market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the North America rescue hoists and cargo winches market.
The process also serves the purpose of obtaining overview and forecast for the North America rescue hoists and cargo winches market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America rescue hoists and cargo winches market. Breeze-Eastern, LLC; Collins Aerospace; Dart Aerospace; Honeywell International Inc.; LIFT-IT MANUFACTURING COMPANY, INC; VINCORION; and Zephyr International are among a few players operating in the North America rescue hoists and cargo winches market.
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