Industry

Rigid Inflatable Boats Market 2024 | Size, Share, Trends, Growth Drivers, Forecast to 2033

Overview and Scope

Rigid inflatable boats (RIBs) are compact, high-performance boats that combine tube-based boats and conventional construction vessels. They are used for various activities, such as water sports, defense operations, and tourism.

Sizing and Forecast

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.

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Segmentation & Regional Insights

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

Asia-Pacific was the largest region in the rigid inflatable boat market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the rigid inflatable boats market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

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.

Key Industry Players

Major companies operating in the rigid inflatable boats market report are Mercury Marine, Damen Holding B.V., Damen Shipyards Group, Vector Ltd., ASIS Boats, Brig Boats, Zodiac Nautic, Highfield Boats Co. Ltd., Highfield Boats, Falcon Inflatables, Williams Jet Tenders Limited., Walker Bay Boats, Sealegs International Limited., Walker Bay Boats Inc., Sealegs International Ltd., AB Inflatables, Novurania of America Inc., Bombardier Recreational Products, Tornado Boats, Ribcraft USA LLC, Grabner GmbH, Quicksilver Boats, Achilles Inflatable Boats, Maxxon Inflatable Boats, Grand Marine International, Avon Marine, Woosung I.B. Co. Ltd., Honwave, Crompton Marine.

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

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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