The Rigid Inflatable Boats Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Rigid Inflatable Boats Global Market Report 2024, The rigid inflatable boats market size has grown strongly in recent years. It will grow from $1.36 billion in 2023 to $1.48 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to military and defense adoption, maritime search and rescue, leisure and recreational boating, coastal patrol and law enforcement, expansion of water sports.
The rigid inflatable boats market size is expected to see strong growth in the next few years. It will grow to $1.96 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to smart technology integration, expanding fishing and diving activities, evolving maritime security needs, development of hybrid propulsion, growing adventure tourism. Major trends in the forecast period include adaptation to adventure cruising, eco-friendly and sustainable practices, increased focus on stability, compact and portable models, high-performance racing ribs.
The surge in leisure activities is expected to propel the growth of rigid inflatable boats going forward. Leisure activities are recreational pursuits that people partake in for enjoyment, relaxation, fulfillment, and personal growth. Recreational activities in rigid inflatable boats offer fun, stress relaxation, exercise, camaraderie, exploration, and an intimate connection with the sea. For instance, in 2022, according to the Outdoor Foundation, a US-based association, the outdoor recreation participant base reached a record high with 164.2 million Americans (ages 6 and over) in 2021, representing 54% of the population, and reflecting a 2.2% growth compared to the previous year. Therefore, the surge in leisure activities is driving the growth of the rigid inflatable boat market.
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The rigid inflatable boats market covered in this report is segmented –
1) By Boat Type: Flying Inflatable Boat(FIB), Foldable Rigid Inflatable Boat(FRIB), Amphibious Rigid Inflatable Boat(Amphibious RIB), Other Boat Types
2) By Hull Type: Aluminum, Fiberglass
3) By Propulsion Type: Outboard, Inboard
4) By End Users: Commercial, Military, Rescue, Other Applications
Top Major Players:
Mercury Marine
Damen Holding B.V.
Damen Shipyards Group
Vector Ltd.
ASIS Boats
Asia-Pacific was the largest region in the rigid inflatable boat market in 2023
Major companies in the rigid inflatable boats market are focused on developing lightweight series of boats, such as aluminum hull inflatable boats, for enhanced performance and to gain a competitive edge in the market. Aluminum hull inflatable boats are lightweight vessels with rigid aluminum bottoms, providing durability and increased stability. For instance, in October 2021, Yamaha, a Japan-based equipment manufacturer, launched a series of YAM 350, 310, and 270 TAf models, a new series of aluminum hull inflatable boats. The lightweight aluminum hulls require less horsepower, leading to a more cost-effective engine and boat combination. The rigid aluminum hulls provide increased stability for navigating rough waters. The boats come with various Yamaha Outboard options and seating configurations, including an optional bench seat and console for added features and protection.
The rigid inflatable boats market report table of contents includes:
1. Executive Summary
2. Rigid Inflatable Boats Market Characteristics
3. Rigid Inflatable Boats Market Trends And Strategies
4. Rigid Inflatable Boats Market - Macro Economic Scenario
5. Global Rigid Inflatable Boats Market Size and Growth
….
32. Global Rigid Inflatable Boats Market Competitive Benchmarking
33. Global Rigid Inflatable Boats Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Rigid Inflatable Boats Market
35.Rigid Inflatable Boats Market Future Outlook and Potential Analysis
36. Appendix
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