Europe Rescue Hoists and Cargo Winches Market is expected to reach US$ 591.14 million by 2028

Search and Rescue Segment to Dominate Europe Rescue Hoists and Cargo Winches Market during 2021–2028

 According to The Insight Partners market research study on “Europe Rescue Hoists and Cargo Winches Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Application, and End Users” is expected to reach US$ 591.14 million by 2028 from US$ 361.88 million in 2021. The market is estimated to grow at a CAGR of 7.3% from 2021 to 2028. The report provides trends prevailing in the Europe rescue hoists and cargo winches market along with the drivers and restraints pertaining to the market growth. Escalating demand from military forces and mounting investment by government organization are the major factor driving the growth of the Europe rescue hoists and cargo winches market. However, problem related to weight of external hoist systems and limited attraction among air ambulance service providers hinders the growth of Europe rescue hoists and cargo winches market.

In case of COVID-19, France and Russia are the worst affected countries in Europe region. The European aviation industry is composed of aircraft OEMs, component suppliers, airlines, and MRO service providers. The outbreak of the COVID – 19 viruses has affected each aviation business stakeholders' business in the region. Several contracts to acquire helicopters and aircraft used for rescue operations among the law enforcement agencies, firefighting teams, medevac teams, and military forces were suspended in order to manage their current operational costs during COVID times and post-COVID times. This has led the aircraft OEMs and component suppliers to suffer economic loss. This factor has negatively affected the European and international rescue hoists and cargo winches market players. From the retrofitting perspective, the rescue hoists and cargo winches retrofitting industry also witnessed economic loss, as the orders for retrofitting rescue hoists and cargo winches were comparatively less than in earlier years. This showcased lower revenue generation among the retrofitters. France, Italy, and Russia have higher numbers of helicopter retrofitters. The majority of retrofitting service providers observed substantially lower volumes of orders, which highlighted restricted demand for rescue hoists and cargo winches. This negatively impacted the growth of the rescue hoists and cargo winches market in the European countries.

The Europe rescue hoists and cargo winches market is segmented based on type, application, end users, and country. Based on type, the Europe rescue hoists and cargo winches market is sub-segmented into hoists, winches, and ground support equipment. The hoists segment dominated the market in 2020 and winches segment is expected to be fastest growing during forecast period. Based on application, the Europe rescue hoists and cargo winches market is categorized into search and rescue, medical evacuation (MEDEVAC), utility, and law enforcement and firefighting. The search and rescue segment dominated the market in 2020 and law enforcement and firefighting segment is expected to be fastest growing during forecast period. Based on end users, the market is sub-segmented into military forces, law enforcement agencies, fire fighters, and medical evacuation crews. The law enforcement agencies segment dominated the market in 2020 and fire fighters segment expected to be fastest growing during forecast period.   

Breeze-Eastern, LLC; Collins Aerospace; Dart Aerospace; Honeywell International Inc.; KubanAviaService; Lite Flite ApS; VINCORION; and Zephyr International are among the leading companies in the Europe rescue hoists and cargo winches market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Collin’s Aerospace entered a contract with California Aerial Firefighting Helicopters to supply rescue hoist solutions to the company over the years.

The Report Segments the Europe Rescue Hoists and Cargo Winches Market as Follows:

Europe Rescue Hoists and Cargo Winches Market – By Type

• Hoists
• Winches
• Ground Support Equipment

Europe Rescue Hoists and Cargo Winches Market – By Application

• Search and Rescue
• MedEvac
• Utility
• Law Enforcement and Firefighting

Europe Rescue Hoists and Cargo Winches Market – By End Users

• Military Forces
• Law Enforcement Agencies
• Fire Fighters
• Medical Evacuation Crews

Europe Rescue Hoists and Cargo Winches Market – By Country

• France
• Germany
• Italy  
• UK
• Russia 
• Rest of Europe