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Asia-Pacific Rescue Hoists and Cargo Winches Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Application, and End Users

Asia-Pacific Rescue Hoists and Cargo Winches Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Application, and End Users

  • June 2021
  • 122 pages
  • ID: 6103149
  • Format: PDF
  • The Insight Partners

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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. Burgeoning advancement in hoists and winches will escalate the market in coming years. The design and technology of rescue hoists have advanced steadily. At present, hoists and winches have become powerful and reliable components for rescue and other emergency services. Manufacturers operating in the APAC market have invested ample time and money to enhance the quality and capability of hoists and winches. For instance, Collin Aerospace introduced rescue hoists with an improved traction drive, better cable handling, and a level wind system to enhance the reliability. There has also been mechanical improvement in the hoist and winches, which has made them user friendly. For instance, Pegasus rescue hoists (developed by Collin Aerospace) is the next generation rescue hoists that has multiple features, such as data acquisition sensing and health (DASR) system, which makes sure that the rescue mission is completed effectively and efficiently. Apart from hoists, there have been advancements in hoists hooks. Therefore, continuous improvement in the products over a period is creating further competition and opportunity in the APAC market. Not only established players, but start-ups are also investing time and money in building best in class hoists and winches. Besides, there have been advancements in winches system. The availability of portable winches has made rope rescue less dependent on the rescuer-constructed mechanical advantage system. With significant improvement in battery power, these winches have become more reliable for rescue purpose. So, more advancement in hoists and winches will drive the APAC rescue hoists and cargo winches market during forecast period.
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.
The law enforcement agencies segment led the APAC rescue hoists and cargo winches market based on end users in 2020.Law enforcement agencies use helicopters equipped with safety measures to accomplish various emergency operation and patrolling services.

Law enforcement agencies also invest in such hoists and winches to effectively accomplish the required task.Number of developing countries across APAC region have been engaging themselves in procuring such highly capable helicopters that are equipped with rescue hoists and cargo winches.

Therefore, focused investment by law enforcement agencies is driving the demand for rescue hoist and cargo winches.The governments in the developed countries and the developing countries across the APAC region constantly emphasizing on respective law enforcement agencies in order to modernize their systems including the helicopter and aircraft fleet.

The hoists and winches are among the essential components on law enforcement agency helicopters. Thus, the requirement for rescue hoists and cargo winches is constantly higher among the agencies, which boosts the growth of the APAC rescue hoists and cargo winches market.
The overall APAC rescue hoists and cargo winches market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the APAC rescue hoists and cargo winches market.

The process also serves the purpose of obtaining overview and forecast for the APAC rescue hoists and cargo winches market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC rescue hoists and cargo winches market. Breeze-Eastern, LLC; Collins Aerospace; Dart Aerospace; Honeywell International Inc.; Lite Flite ApS; Sika Interplant Systems Limited; VINCORION; and Zephyr International are among a few players operating in the APAC rescue hoists and cargo winches market.

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