Free Fall Lifeboats Market Key Players, Growth, Share and Insights Analysis, 2018 to 2028

Free fall lifeboats are gradually becoming one of the common life-saving appliances on marine vessels and offshore facilities. Due to safety improvement and potential advantages over conventional lifeboat systems, free fall lifeboats are gaining increasing popularity among marine fleet. Moreover, several maritime regulatory authorities have accepted and conducted certification processes for free fall lifeboats. Conventional lifeboat systems often lead to accidents while launching and lowering into high wind and rough seas, this has led to increase in the demand for free fall lifeboats. These boats fall freely into the sea, substantially reduce the risk associated with conventional variants, and move away from the damaged vessel during and after the entry of water.

Hatecke, one of the top players of free fall lifeboats market, had launched these boats in 1991 and been successful in rescuing a crewman who had fallen from a ship and crew of overturned fishing vessels. In the recent years, free fall lifeboats are manufactured in various countries across the globe which is directly influencing growth of the free fall lifeboats market. Growing focus of manufacturers in the development of products with reserve strength beyond that required for expected loading is likely to create potential growth opportunities of free fall lifeboats market.

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Free Fall Lifeboats Market – Introduction

A lifeboat is an important lifesaving equipment in a ship, used in the emergency situations. Free fall lifeboats are constructed in such a way that they can be launched from a particular height during emergency situations. The benefits of free fall lifeboats is that it has the permission of free fall form a certain launching lamp length and launching ramp angle. The most important benefits of free fall lifeboats are that it can be used immediately for rapid evacuation during emergencies. In the emergency situations, the free fall lifeboats slide out from a certain launching height from the ship and hit the water and move forward to save the passengers or crewmen. The free fall lifeboat is a small rigid vessel that takes minimum time to launch and it can be used for early escape from the ship in the extreme emergency situation. The free fall lifeboats’ concept was first invented by a Swedish designer A.E. Falk in the year 1897. In the free fall lifeboats, the passengers are safe and secure in the enclosed cabin or safely strapped to the anatomically shaped seats. The free fall lifeboats is prepared in such a system that it can withstand in the powerful waves, high winds and in the extreme weather conditions. Free fall lifeboats are never used for maritime evacuation. The free fall lifeboats are mainly used in two different maritime incidents. In first case, the free fall lifeboats are used for to rescue the crewmen who are fallen overboard and, in the other case, to rescue the crewmen from the fishing vessel. In both the incidents the free fall lifeboats are successfully used in the sea for rescue purpose.

The launching mechanism of free fall lifeboats is similar to the on load release. Nowadays, the free fall lifeboats are manufactured in the different countries. The materials used for the manufacture of free fall lifeboats are steel, fiberglass and aluminum. The free fall lifeboats are easily dropped in the water for holdback and release of the passengers. The free fall lifeboats are designed to sustain in the extreme weather conditions. The free fall lifeboats also carry the equipment in the form of different codes such as SOLAS and LSA and these equipment are used to survive in the sea. The free fall lifeboats carry different types of products and equipment to survive in the sea at the time of emergency rescue situation such as fresh water, rations, first aid, distress signaling equipment such as rocket and compass, etc.

Free Fall Lifeboats Market – Dynamics

The free fall lifeboats market is expected to grow due to the increasing in ship and other marine fleet such as cargo ships semi-submersible drilling platforms, passenger cruise ships, cargo ships, navy, fuel tankers with fixed production platforms which are prone to extreme emergency situation. The demand for free fall life lifeboats has increased in the global market and gained significant traction in global market. The growth of the market would be pegged back due to a certain extent owing to limited provision of requirement in existing fleet whose replacement rate and shelf life is on the higher side. The market is dominated by tier-1 and tier-2 type of manufacturers with manufacturing bases in U.S., Europe and China

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Free Fall Lifeboats Market – Segmentation

Based on the product type, the global free fall lifeboats market is segmented into:

  • Totally enclosed Lifeboats
  • Conventional Lifeboats
  • Open Lifeboats
  • Close Lifeboats

Based on the types, the global free fall lifeboats market is segmented into:

  • Cargo Version
  • Tank Version

Based on the Applications, the global free fall lifeboats market is segmented into:

  • Cargo Ship
  • Cruise Ship
  • Semi-submersible drilling platforms
  • Fixed production platforms
  • Tankers
  • Others

Free Fall Lifeboats Market – Regional Outlook

The global free fall lifeboats market is expected to grow at a high CAGR over the forecast period. Of the prominent regions, North America is expected to be dominant market in the global free fall lifeboats market. Europe is also projected to be another prominent revenue-generating region by 2020. The other regions such as Asia, Latin America, Middle East and Africa are believed to be in the initial growth phase for the free fall lifeboats market at present and are expected to witness the prolonged effect over the forecast period.

Free Fall Lifeboats Market – Key Participants

Examples of some of the key players in the free fall lifeboats markets are:

  • HLB
  • Hatecke
  • Survival Systems
  • Fassmer
  • Vanguard
  • DSB Engineering
  • Jiangsu Jiaoyan
  • Palfingermarine
  • Nishi-F
  • Qingdao Beihai Shipbuilding
  • Norsafe
  • Balden Marine
  • Shigi

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

The report covers exhaust analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

Regional analysis includes:

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current, and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint.

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