North America Rescue Hoists and Cargo Winches Market is expected to reach US$ 992.18 million by 2028

Hoists Segment to Dominate North America Rescue Hoists and Cargo Winches Market during 2021–2028

According to The Insight Partners market research study on “North America 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$ 992.18 million by 2028 from US$ 648.37 million in 2021. The market is estimated to grow at a CAGR of 6.3% from 2021 to 2028. The report provides trends prevailing in the North America rescue hoists and cargo winches market along with the drivers and restraints pertaining to the market growth. Growing investment by government organization and increasing demand from military forces are the major factor driving the growth of the North America rescue hoists and cargo winches market. However, issue related to weight of external hoist systems and limited attraction among air ambulance service providers hinders the growth of North America rescue hoists and cargo winches market.

In case of COVID-19, the US is the worst-hit country in North America, with thousands of infected individuals facing severe health conditions across the country. The US is the highest military spender across the globe and has a substantial number of defense contractors across its borders. During Q2 and Q3 of 2020, the majority of the manufacturing plants were either temporarily shut or operating with minimum staff; the supply chain of equipment and related components are disrupted; these are some of the critical issues in the country. In addition, the demand for defense equipment has been showcasing a slowdown since the outbreak of the virus in the country. The US has a substantial number of rescue hoists and cargo winches manufacturers; however, the emergence of the pandemic has resulted in slower than usual growth in procurement of hoists and winches on helicopters and fixed wing aircraft. The US and Canada have notable general aviation aircraft manufacturers involved in manufacturing helicopters for law enforcement agencies, firefighting teams, and medevac teams. The helicopter manufacturers witnessed significant lower volumes in terms of production, thereby limiting their procurement volumes of rescue hoists and cargo winches, which ultimately hampered the rescue hoists and cargo winches market.   

The North America rescue hoists and cargo winches market is segmented based on type, application, end users, and country. Based on type, the North America 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 North America 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.; LIFT-IT MANUFACTURING COMPANY, INC; VINCORION; and Zephyr International are among the leading companies in the North America 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 2018, Breeze-Eastern LLC in August 2018 was awarded patent rights for helicopter hoist system manufacturing.

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

North America Rescue Hoists and Cargo Winches Market – By Type

• Hoists
• Winches
• Ground Support Equipment

North America Rescue Hoists and Cargo Winches Market – By Application

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

North America Rescue Hoists and Cargo Winches Market – By End Users

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

North America Rescue Hoists and Cargo Winches Market – By Country

• US
• Canada     
• Mexico