Market Introduction
Geographically, the rescue hoists and cargo winches market in the Middle East and Africa is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the Middle East and Africa. The market growth in this region is attributed to the increasing focus on military budget and improving search and rescue operation. The governments of Middle East and African countries such as Saudi Arabia, South Africa, the UAE, Qatar, Kuwait, and Iran have been investing in technological advance equipment that has propelled the adoption of rescue hoists and cargo winches. This factor has resulted in the entrance of OEMs in the region, thereby creating competition in the Middle East market. Established OEMs players including Collins Aerospace, Breeze- Eastern LLC, and Dart Aerospace have strengthened their distribution network in the region. These players have been investing in R&D to fill the gap of supply and demand and cater the pre-requisite needs of military forces.
In case of COVID-19, MEA region is highly affected especially Saudi Arabia. The MEA rescue hoists and cargo winches market is majorly affected by the disruption in the supply chain. Pertaining to the closure of countries' borders, the supply chain of several components and parts has been disturbed. The demand for aircraft and helicopter components, including rescue hoists and cargo winches for line fitting and retrofitting activities on military aircraft fleet and general aviation fleet among the aircraft manufacturers, military forces, and MRO service providers, has weakened over the past couple of months. This has resulted in a loss of business among the rescue hoists and cargo winches market players offering their products to respective customers in the MEA region. Saudi Arabian government spends substantial amounts toward its military force, law enforcement teams, and firefighting teams, thereby continuously supporting the teams with upgraded technologies in order to remain mission ready. However, the COVID-19 outbreak in the country has decimated the demand for general aviation and military helicopters, which reflected limited demand for rescue hoists and cargo winches among the retrofitters in the country and OEMs present internationally.
Market Overview and Dynamics
The MEA rescue hoists and cargo winches market is expected to grow from US$ 72.95 million in 2021 to US$ 100.17 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028. Burgeoning investment by government organization across MEA region will drive the market. Governments across the MEA region have been investing in procuring advance helicopters that have preinstalled rescue hoists and cargo winches to replace the old one. At present, almost all the government owned helicopters have rescue hoists. Such helicopters are used in rescue mission, medical evacuation, humanitarian assistance, disaster relief, and surveillance and targeting. There is stringent regulation regarding the manufacturing of rescue hoists and cargo winch system. For instance, there are specifications laid down on basic design and raw material used. Usually, austenitic stainless steel is used for the manufacture of rescue hoists and cargo winch to offer corrosion resistant property. Also, wire rope fabrication should be in a specified manner. Therefore, manufacturers of rescue hoists and cargo winches need to be careful while testing the capabilities of the products. These factors are driving the growth of the MEA rescue hoists and cargo winches market. Government of MEA countries are now procuring new helicopters for search rescue and medical evacuation purpose. The ongoing procurement of new SAR helicopters and need for advance rescue hoist is propelling the growth of the MEA rescue hoists and cargo winches market.
Key Market Segments
In terms of type, the hoists segment accounted for the largest share of the MEA rescue hoists and cargo winches market in 2020. In terms of application, the search and rescue segment held a larger market share of the MEA rescue hoists and cargo winches market in 2020. Further, the law enforcement agencies segment held a larger share of the MEA 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 MEA 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; Honeywell International Inc.; Lite Flite ApS; and Zephyr International.
Reasons to buy report
MEA Rescue Hoists and Cargo Winches Market Segmentation
MEA Rescue Hoists and Cargo Winches Market - By Type
MEA Rescue Hoists and Cargo Winches Market - By Application
MEA Rescue Hoists and Cargo Winches Market - By End Users
MEA Rescue Hoists and Cargo Winches Market - By Country
MEA Rescue Hoists and Cargo Winches Market - Company Profiles