R&D is a crucial component of innovation and a key factor in developing new competitive advantages. To effectively compete in the market, OEMs of rescue hoists and cargo winch manufacturers are significantly investing in research and development (R&D) to effectively cater the growing requirement in the market. For instance, Collin Aerospace has been continuously developing its Goodrich rescue hoist portfolio. The company offers ~40 models of rescue hoists and cargo winches utilized by civil and military operators worldwide. The company has been continuously investing in R&D to enhance its hoist technology, thereby providing the best-in-class products.
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The rescue hoists and cargo winches market is segmented into type, application, and end-users, and geography. Based on type, the rescue hoists and cargo winches market is further segmented into hoists, winches, and ground support equipment. In 2020, the hoists segment accounted for a significant share in the global rescue hoists and cargo winches market. Based on application, the rescue hoists and cargo winches market is further segmented into search and rescue, medevac, utility, and law enforcement and firefighting. In 2020, the search and rescue segment accounted for a significant share in the global rescue hoists and cargo winches market. Based on end users, the rescue hoists and cargo winches market is further segmented into military forces, law enforcement agencies, fire fighters, and medical evacuation crews. In 2020, the law enforcement agencies segment accounted for a significant share in the global rescue hoists and cargo winches market. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, the North America held a significant share in the global rescue hoists and cargo winches market.
For instance, the company introduced the 44316 and 44318 model hoists, which remain the only hoists approved by the Federal Aviation Administration and European Union Aviation Safety Agency for human external cargo (HEC) operations. Collins Aerospace’s Goodrich 44318 hoists were recently (2020) chosen by three of California’s premier firefighting agencies as the rescue hoist aboard new helicopters. Like Collin Aerospace, there are other manufacturers who are focusing extensively on R&D to effectively cater the growing requirement. This will help them to strengthen their position in the market along with increasing their overall revenue.
Impact of COVID-19 Pandemic on Rescue Hoists and Cargo Winches Market
From the rescue hoists and cargo winches market player’s perspective, the situation has been worsened by the substantial disruption in component supply chain. Since, the rescue hoist and cargo winches are electro-mechanical products, the disruption in electronics and mechanical parts supply chain due to border closures have negatively impacted the production volumes of rescue hoists and cargo winches. This factor has hindered the growth of rescue hoists and cargo winches market. The lower production of helicopter volumes resulted in less than usual demand for rescue hoists and cargo winches among the helicopter manufacturers. According to General Aviation Manufacturers Association (GAMA), the helicopter shipment dropped by 19.2% from 2019 to 2020. Further, several fixed wing aircraft such as Boeing C17 and Embraer KC-390 and others that use cargo winches also experienced lower production in 2020. Thus, lower output of fixed wing aircraft and helicopters resulted in a drop in demand for rescue hoists and cargo winches, thereby negatively impacting the growth of the market in 2020.
The players operating in the rescue hoists and cargo winches market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
In March 2021, Dart Aerospace with Talon Helicopters have received approval from the Canada transport department to perform night hover refill operations. this operation of firefighting through air will also increase the demand for its rescue hoists across the country.
In February 2018, VINCORION launched an innovated version of Skyhoist 800 with its sophisticated capstan technology, dead weight of maximum 50 kilograms, hoisting capacity of up to 350 kilograms, cable length of 120 meters, and maximum hoisting speed of 2 meters per second.
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