Rigid Inflatable Boats Market
Rigid Inflatable Boats Market Forecasts to 2028 - Global Analysis By Product (Inflatable Boats With Double Tube, Inflatable Boats With Single Tube and Other Products), Hull Type, Boat Type, Length, Propulsion Type, Usage, End User and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $1.36 BN |
|
Projected Year Value (2028) |
US $2.13 BN |
|
CAGR (2022 - 2028) |
7.7% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Rigid Inflatable Boats Market is accounted for $1.36 billion in 2022 and is expected to reach $2.13 billion by 2028 growing at a CAGR of 7.7% during the forecast period. A rigid inflatable boat provides a reliable and safe boating experience. It is a high-capacity, high-performance, and unsinkable boat. Watercrafts with rigid inflatable hulls are lighter, more fuel-efficient, and easier to operate. Additionally, this is built in a contemporary manner, allowing them to function as both a yacht and an adventure craft.
According to India Meteorological Department (IMD), Bengaluru received 131.6 mm of rainfall breaking 80 years old record.
Market Dynamics:
Driver:
Surge in leisure activities
Global consumer spending rises as per capita income rises, which further encourages expansion in leisure activities. Rigid inflatable boats offer a quick and dependable solution for high-end transportation and leisure boating activities. Despite the segment's broader selection of inflatable boats, these boats are still growing in popularity. The market will advance due to elements including the developing tourism sector and rising disposable income levels.
Restraint:
High Maintenance
Some models are heavy and may only be moved using a trailer. Inflatable boats have a number of requirements, including rinsing off any sea water, routine tube cleaning, maintaining tube air pressure, and inspecting fabric welds at least once a year. Finding dealers who can fix any tears and punctures is not simple for owners to do. They also have little room for storage. As a result, these elements are limiting the market's expansion.
Opportunity:
Growing demand for rigid inflatable boats
Construction of boats is now required due to the growing popularity of rigid boats for security purposes. The naval and coast guard boats are typically designed for non-compliant boarding team operations and high-speed boat interdiction. These boats are built for both shipboard and shore-based operations, giving the crew optimal comfort and mission range. These vessels can survive severe weather. As a result, these elements are having an impact on market expansion.
Threat:
High Cost of Manufacturing
These watercraft are still exceedingly expensive to purchase and produce, even with technological advances and new materials being used in their construction. Costly and extensive labours are another factor in the high price. The price of these boats is further increased by the inclusion of luxuries like cabins with berths and seats that can be opened to create sun lounges. These elements are therefore impeding the market's expansion.
Covid-19 Impact
The COVID-19 pandemic had a detrimental impact on the majority of industries, including manufacturing. In addition, adventure sports and coastal tourism were severely impacted by global restrictions and lockdowns, which decreased demand for rigid inflatable boats. The pandemic has disrupted the boating industry's workforce as a result of the closure of ports throughout the world to stop the virus from spreading. In order to stop the spread of the epidemic, numerous governments imposed bans on shipping and maritime activities, which resulted in financial losses for the market for rigid inflatable boats.
The 9-15 metre segment is expected to be the largest during the forecast period
The 9-15 metre segment is estimated to have a lucrative growth, due to increase in tourist recreational activities. The demand for such boats has increased due to the fact that they are primarily used for recreational activities. However, it is projected that the market for 9–15 metre length boats will expand due to technological advancements and the use of longer boats by governments for tasks like coastguard and rescue missions. It is anticipated that this market will grow the fastest.
The outboard segment is expected to have the highest CAGR during the forecast period
The outboard segment is anticipated to witness the fastest CAGR growth during the forecast period, due to advantages. The demand for such boats has increased due to the fact that they are primarily used for recreational activities. However, it is projected that the market for 9–15 metre length boats will expand due to technological advancements and the use of longer boats by governments for tasks like coastguard and rescue missions. It is anticipated that this market will grow the fastest.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to increasing government initiatives for increasing tourism in their respective countries. The region is expected to have significant growth due to the fact that the majority of the population is residing there and due to economic development, that is enabling people to enjoy improved standards of living and spend more on leisure activities.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the increasing preference for leisure activities and water sports. These businesses are well-established on the international market and offer a variety of products. They mainly concentrate on creating cutting-edge products. It is predicted that a rise in disposable income and rising spending on leisure activities will open the door for significant growth in the region.
Key players in the market
Some of the key players profiled in the Rigid Inflatable Boats Market include ASIS Boats, Ribcraft, AB Inflatables, Tornado Boats, Walker Bay Boats, Sealegs Corporation, HIGHFIELD BOATS, Brig Boats, Zodiac Nautic, Mercury Marine, Vector Ltd. and Grabner GMBH.
Key Developments:
In August 2022, Ribcraft entered in the production phase of its five-year IDIQ contract to build 278 numbers of the 7-meter RIB. The contract is valued at approximately USD 0.08 billion.
In June 2022, AB Inflatables launched its new jet tender, the ABJET 390 XP. The layout of the boat promotes better weight distribution and increases boat stability for improved performance. The boat is equipped with a removable lateral seat as standard while optimizing person capacity while allowing room for carryons resulting in ultimately maximizing deck space.
In August 2021, Zodiac which is the largest manufacturer of rigid inflatable boats announced its strategic partnership with eOPEN for revamping its product line with electric boats.
Products Covered:
• Inflatable Boats With Double Tube
• Inflatable Boats With Single Tube
• Other Products
Hull Types Covered:
• Aluminum
• Air mattress
• Fiberglass
• Other Hull Types
Boat Types Covered:
• Foldable Rigid Inflatable Boat
• Amphibious Rigid Inflatable Boat
• Flying Inflatable Boat
• Other Boat Types
Lengths Covered:
• 9-15 meter
• 3-9 meter
• Other Lengths
Propulsion Types Covered:
• Inboard
• Outboard
• Other Propulsion Types
Usages Covered:
• Recreational
• Professional
• Other Usages
End Users Covered:
• Leisure
• Military
• Rescue
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Rigid Inflatable Boats Market, By Product
5.1 Introduction
5.2 Inflatable Boats With Double Tube
5.3 Inflatable Boats With Single Tube
5.4 Other Products
6 Global Rigid Inflatable Boats Market, By Hull Type
6.1 Introduction
6.2 Aluminum
6.3 Air mattress
6.4 Fiberglass
6.5 Other Hull Types
7 Global Rigid Inflatable Boats Market, By Boat Type
7.1 Introduction
7.2 Foldable Rigid Inflatable Boat
7.3 Amphibious Rigid Inflatable Boat
7.4 Flying Inflatable Boat
7.5 Other Boat Types
8 Global Rigid Inflatable Boats Market, By Length
8.1 Introduction
8.2 9-15 meter
8.3 3-9 meter
8.4 Other Lengths
9 Global Rigid Inflatable Boats Market, By Propulsion Type
9.1 Introduction
9.2 Inboard
9.3 Outboard
9.4 Other Propulsion Types
10 Global Rigid Inflatable Boats Market, By Usage
10.1 Introduction
10.2 Recreational
10.3 Professional
10.4 Other Usages
11 Global Rigid Inflatable Boats Market, By End User
11.1 Introduction
11.2 Leisure
11.3 Military
11.4 Rescue
11.5 Other End Users
12 Global Rigid Inflatable Boats Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 ASIS Boats
14.2 Ribcraft
14.3 AB Inflatables
14.4 Tornado Boats
14.5 Walker Bay Boats
14.6 Sealegs Corporation
14.7 HIGHFIELD BOATS
14.8 Brig Boats
14.9 Zodiac Nautic
14.10 Mercury Marine
14.11 Vector Ltd.
14.12 Grabner GMBH
List of Tables
1 Global Rigid Inflatable Boats Market Outlook, By Region (2020-2028) ($MN)
2 Global Rigid Inflatable Boats Market Outlook, By Product (2020-2028) ($MN)
3 Global Rigid Inflatable Boats Market Outlook, By Inflatable Boats With Double Tube (2020-2028) ($MN)
4 Global Rigid Inflatable Boats Market Outlook, By Inflatable Boats With Single Tube (2020-2028) ($MN)
5 Global Rigid Inflatable Boats Market Outlook, By Other Products (2020-2028) ($MN)
6 Global Rigid Inflatable Boats Market Outlook, By Hull Type (2020-2028) ($MN)
7 Global Rigid Inflatable Boats Market Outlook, By Aluminum (2020-2028) ($MN)
8 Global Rigid Inflatable Boats Market Outlook, By Air mattress (2020-2028) ($MN)
9 Global Rigid Inflatable Boats Market Outlook, By Fiberglass (2020-2028) ($MN)
10 Global Rigid Inflatable Boats Market Outlook, By Other Hull Types (2020-2028) ($MN)
11 Global Rigid Inflatable Boats Market Outlook, By Boat Type (2020-2028) ($MN)
12 Global Rigid Inflatable Boats Market Outlook, By Foldable Rigid Inflatable Boat (2020-2028) ($MN)
13 Global Rigid Inflatable Boats Market Outlook, By Amphibious Rigid Inflatable Boat (2020-2028) ($MN)
14 Global Rigid Inflatable Boats Market Outlook, By Flying Inflatable Boat (2020-2028) ($MN)
15 Global Rigid Inflatable Boats Market Outlook, By Other Boat types (2020-2028) ($MN)
16 Global Rigid Inflatable Boats Market Outlook, By Length (2020-2028) ($MN)
17 Global Rigid Inflatable Boats Market Outlook, By 9-15 meter (2020-2028) ($MN)
18 Global Rigid Inflatable Boats Market Outlook, By 3-9 meter (2020-2028) ($MN)
19 Global Rigid Inflatable Boats Market Outlook, By Other Lengths (2020-2028) ($MN)
20 Global Rigid Inflatable Boats Market Outlook, By Propulsion Type (2020-2028) ($MN)
21 Global Rigid Inflatable Boats Market Outlook, By Inboard (2020-2028) ($MN)
22 Global Rigid Inflatable Boats Market Outlook, By Outboard (2020-2028) ($MN)
23 Global Rigid Inflatable Boats Market Outlook, By Other Propulsion Types (2020-2028) ($MN)
24 Global Rigid Inflatable Boats Market Outlook, By Usage (2020-2028) ($MN)
25 Global Rigid Inflatable Boats Market Outlook, By Recreational (2020-2028) ($MN)
26 Global Rigid Inflatable Boats Market Outlook, By Professional (2020-2028) ($MN)
27 Global Rigid Inflatable Boats Market Outlook, By Other Usages (2020-2028) ($MN)
28 Global Rigid Inflatable Boats Market Outlook, By End User (2020-2028) ($MN)
29 Global Rigid Inflatable Boats Market Outlook, By Leisure (2020-2028) ($MN)
30 Global Rigid Inflatable Boats Market Outlook, By Military (2020-2028) ($MN)
31 Global Rigid Inflatable Boats Market Outlook, By Rescue (2020-2028) ($MN)
32 Global Rigid Inflatable Boats Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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