Market Introduction
Geographically, the APAC rescue hoists and cargo winches market is segmented into China, India, Japan, Australia, South Korea, and the Rest of APAC. The APAC rescue hoists and cargo winches market is expected to grow at the highest CAGR during 2021–2028. The growth of the market in the region is attributed to the continuous focus by the government on strengthening the forces and their operation with advanced equipment and technology. Governments have been inviting manufacturers to provide advance solution for improving the search and rescue operation in the form of investment in comprehensive SAR helicopter, hoists, and cargo winch system, among others. China, India, Japan, South Korea, and Australia are among the key countries for rescue hoists and cargo winches market. The Indian Ministry of Defence and the Indian Coast Guard have been upgrading and advancing their military component by enhancing the military budget over a period. In 2015, China invested in enhancing the fleet by accepting the delivery of two S-76D helicopters at Sikorsky Aircraft's commercial helicopter center. The MOT’s helicopter fleet, which is the foundation of China's airborne search and rescue (SAR) maritime operations, totalled 16 S-76 helicopters, eight of which are S-76D aircraft. On similar line, Australia is also improving its search and rescue (SAR) operation services by enhancing the capabilities and including advance technology. All these trends are creating immense opportunity for the market players in the APAC rescue hoists and cargo winches market.
In case of COVID-19, India is the worst affected country in APAC region. The COVID-19 outbreak has resulted in a massive financial loss in the APAC region. The governments in APAC countries had taken possible steps to reduce its effects by announcing lockdown, which is negatively affecting the manufacturing sector. China is one of the leading aerospace manufacturing countries in the region, has been one of APAC's most affected countries during Q1 of 2020. Due to this, the manufacturing facilities have been witnessing severe conditions in aircraft and aircraft component manufacturing facilities. India, Japan, and South Korea are still combating the virus. However, the countries have eased the lockdown measures, which is reflecting the restart of manufacturing facilities. Nonetheless, the remarkable lower volumes of general aviation and military helicopter production in India and Japan slowed down the demand for various components among the OEMs and aftermarket players. This has been negatively affecting the rescue hoists and cargo winches market.
Market Overview and Dynamics
The APAC rescue hoists and cargo winches market is expected to grow from US$ 482.11 million in 2021 to US$ 895.67 million by 2028; it is estimated to grow at a CAGR of 9.3% from 2021 to 2028. Mounting demand from military forces will escalate the APAC 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 developing countries across APAC region. For instance, Government of India decided to procure 14 Twin-Engine Heavy Helicopters (TEHH), for Indian Coat Guards, in January 2021. These helicopters will be operational by FY 2025–2026. These helicopters will be used for maritime surveillance, SAR, medical evacuation, casualty evacuation, and logistics support to ships as well as pollution response sorties. In March 2019, the Rescue and Salvage Bureau (CRS) of the Chinese Ministry of Transport (MOT) expanded its medium class search and rescue helicopter fleet with the Airbus H175. These new H175 were procured to perform SAR mission in busiest areas for marine traffic (seven of the 10 busiest container ports in the world are in China) as well as various offshore areas such as the Bohai Sea and the Yellow Sea. These instance of continuous procurement of new and advance SAR helicopters has created immense opportunity for component manufacturers of such helicopters including rescue hoists and cargo winches manufacturers across APAC region to develop innovative products with enhanced capabilities.
Key Market Segments
In terms of type, the hoists segment accounted for the largest share of the APAC rescue hoists and cargo winches market in 2020. In terms of application, the search and rescue segment held a larger market share of the APAC rescue hoists and cargo winches market in 2020. Further, the law enforcement agencies segment held a larger share of the APAC rescue hoists and cargo winches market based on end users in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the APAC rescue hoists and cargo winches market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Breeze-Eastern, LLC; Collins Aerospace; Dart Aerospace; Honeywell International Inc.; Lite Flite ApS; Sika Interplant Systems Limited; VINCORION; and Zephyr International.
Reasons to buy report
APAC Rescue Hoists and Cargo Winches Market Segmentation
APAC Rescue Hoists and Cargo Winches Market - By Type
APAC Rescue Hoists and Cargo Winches Market - By Application
APAC Rescue Hoists and Cargo Winches Market - By End Users
APAC Rescue Hoists and Cargo Winches Market - By Country
APAC Rescue Hoists and Cargo Winches Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 482.11 Million |
| Market Size by 2028 | US$ 895.67 Million |
| CAGR (2021 - 2028) | 9.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia-Pacific Rescue Hoists and Cargo Winches Market is valued at US$ 482.11 Million in 2021, it is projected to reach US$ 895.67 Million by 2028.
As per our report Asia-Pacific Rescue Hoists and Cargo Winches Market, the market size is valued at US$ 482.11 Million in 2021, projecting it to reach US$ 895.67 Million by 2028. This translates to a CAGR of approximately 9.3% during the forecast period.
The Asia-Pacific Rescue Hoists and Cargo Winches Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia-Pacific Rescue Hoists and Cargo Winches Market report:
The Asia-Pacific Rescue Hoists and Cargo Winches Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia-Pacific Rescue Hoists and Cargo Winches Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia-Pacific Rescue Hoists and Cargo Winches Market value chain can benefit from the information contained in a comprehensive market report.
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