Rescue Hoists and Cargo Winches Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Application, and End Users

The rescue hoists and cargo winches market was valued at US$ 1638. 42 million in 2020 and is projected to reach US$ 2734. 50 million by 2028; it is expected to grow at a CAGR of 7. 3% from 2021 to 2028.

New York, May 19, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Rescue Hoists and Cargo Winches Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Application, and End Users" - https://www.reportlinker.com/p06073167/?utm_source=GNW

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.

The overall 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 market.

The process also serves the purpose of obtaining overview and forecast for the rescue hoists and cargo winches market with respect to all the segments.It also provides the overview and forecast for the global rescue hoists and cargo winches market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East and Africa, and South America.

Also, primary interviews were conducted with industry participants and commentators to validate data and 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 rescue hoists and cargo winches market.

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; and Lite Flite ApS are among a few major players operating in the global rescue hoists and cargo winches market.
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