The global rigid inflatable boats market size was valued USD 1.28 billion in 2021. The market is projected to grow from USD 1.36 billion in 2022 to USD 2.10 billion by 2029, exhibiting a CAGR of 5.78% during the forecasted period.

This information is provided by Fortune Business Insights, in its report titled, “Rigid Inflatable Boats Market, 2022-2029.”

The rigid inflatable boats (RIBs) market refers to the global industry for boats that have a rigid hull made of materials such as fiberglass, aluminum or composite, and inflatable tubes around the sides. RIBs are used for a variety of applications, including military and defense, law enforcement, search and rescue, commercial and industrial, and recreational boating.

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Increase in Tourist Recreational Activities to Boost Aluminum Hull Type Segment in Forecast Years

By segmentation, the market is divided into Fiber and Aluminum Hull types. The Aluminum Hull type segment owns the largest RIB market share due to the rising demand for Aluminum Hull boats for water and tourist recreational activities which is anticipated to fuel the market growth.

Rise in Use of RIBs for Rescue Operations to Drive PVC Class Segment Growth in Projection Period

Based on tube type, the rigid inflatable boats market share is segmented into PVC and hypalon. The PVC segment has been a popular choice for its cost advantage.

9-15 Meter Length Boats to Grow During the Forecast Period

Based on length, the market is segmented into 3-9 meter and 9-15 meter. The 3-9-meter length boats accounted for the largest market share in 2021. The use of such boats for mainly recreational purposes has driven the demand for such boats.

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Drivers and Restraints:

Growing Demand for Rigid Inflatable Boats for Marine Security Applications to Boost Market Growth

The coast guard makes use of RIBs for sea security. The coast guard uses these boats for a variety of purposes such as homeland security, patrol, maritime law enforcement, marine environmental protection, and search and rescue. They are designed to fulfil and surpass all specifications.

The Naval and Coast Guard rigid inflatable boats are designed primarily for non-compliant boarding team operations and high speed maritime interdiction.

Regional Insights:

North America Held Lion’s Share due to the Presence of Major Players

In 2021, North America dominated the market for rigid inflatable boats. North America, with a market size of USD 0.51 billion in 2021, had the largest market share and was expected to increase significantly during the forecast period.

The market in Europe will expand at a reasonable rate as a result of the rise in leisure travel as well as the existence of important OEMs and major players such as Zodiac Nautic and others that drive market expansion in the area.

The highest CAGR is projected for Asia Pacific during the forecast period. Rising economies such as China and India are said to be responsible for this expansion.

Competitive Landscape:

Key Players Sign Significant Contracts to Make Remarkable Changes in the Market

The players operating in the market often employ numerous tactics that will aid the market growth and product demand. Among the pool of strategies, one such notable strategy to expand the business prospect is signing multimillion contracts with government bodies and securing a profitable revenue for their own company.

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Key Industry Development:

February 2022: Blue Light Commercial operators have received awards from Delta Power Group. The agreement includes the provision of extremely effective, cutting-edge high speed boats for use by police officers and Blue Light operators.

List of Key Players Mentioned in the Report:

  • Zodiac Nautic(France)
  • Highfield Boats(China)
  • ASIS Boats(U.S.)
  • Brig Boats(Ukraine)
  • Sealegs Corporation (New Zealand)
  • Walker Bay Boats(U.S.)
  • AB Inflatables(U.S.)
  • Tornado Boats(Denmark)
  • Ribcraft(U.S.)

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By Emelia Murison

Emelia Murison is a freelance writer and editor with a passion for innovation and technology. She covers breaking industry news, #SpaceForGood, and product reviews for the group. She also provides copywriting services to startups around the world – one of which introduced her to the world of Aerospace.