Rescue Hoists and Cargo Winches Market Size, Trends and Growth Analysis by 2027

The global market for rescue hoists and cargo winches was valued at approximately US$ 1,638.42 million in 2020 and is anticipated to grow to US$ 2,734.50 million by 2028, reflecting a compound annual growth rate (CAGR) of 7.3% from 2021 to 2028.

A significant driver of this market's expansion is the increasing investment from government entities and the rising demand from military forces. Various countries across regions such as Asia Pacific, Europe, North America, Middle East & Africa, and South America are making substantial investments to acquire advanced and highly capable rescue hoists and cargo winches. Notably, rescue hoists are utilized in about one in four government-owned helicopters globally, playing a crucial role in supporting personnel during rescue, insertion, or extraction missions.

The market for rescue hoists and cargo winches is categorized by type, application, end-users, and geography. In terms of type, the market is divided into hoists, winches, and ground support equipment. In 2020, the hoists segment held a considerable share of the global market. When examining applications, the market is segmented into search and rescue, medevac, utility, and law enforcement and firefighting. The search and rescue segment was particularly prominent in 2020. Regarding end-users, the market includes military forces, law enforcement agencies, firefighters, and medical evacuation crews, with law enforcement agencies representing a significant portion of the market share in 2020. Geographically, the market is divided into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM), with North America also accounting for a substantial share in 2020.

However, the businesses of players in the rescue hoists and cargo winches market have faced considerable challenges due to disruptions in the production of aircraft, including both fixed-wing and rotary-wing aircraft. The situation was exacerbated by significant interruptions in the supply chain for components. As rescue hoists and cargo winches are electro-mechanical products, the disruptions in the supply of electronic and mechanical parts, caused by border closures, adversely affected production volumes. This situation hindered the growth of the rescue hoists and cargo winches market, as the reduced production of helicopters led to diminished demand for these products among helicopter manufacturers. According to the General Aviation Manufacturers Association (GAMA), helicopter shipments fell by 19.2% from 2019 to 2020. Additionally, several fixed-wing aircraft, such as the Boeing C17 and Embraer KC-390, which utilize cargo winches, also saw a decline in production during 2020. Consequently, the overall decrease in the output of both fixed-wing and rotary-wing aircraft resulted in a drop in demand for rescue hoists and cargo winches, negatively impacting market growth in 2020.

The overall size of the rescue hoists and cargo winches market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This approach also aimed to provide an overview and forecast for the rescue hoists and cargo winches market across all segments. Furthermore, primary interviews were conducted with industry participants and commentators to validate the data and gain deeper analytical insights. Participants typically include industry experts such as Vice Presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the rescue hoists and cargo winches sector.

Key players in the global rescue hoists and cargo winches market include Breeze-Eastern, LLC, Dart Aerospace, KubanAviaService, Lift-It Manufacturing Company, Inc, VINCORION, Zephyr International, Collins Aerospace (a subsidiary of Raytheon Technologies Corporation), Honeywell International Inc., Sika Interplant Systems Limited, and Lite Flite ApS, among others.