Rigid Inflatable Boats Market 2024- By Size, Growth, Trends And Global Forecast To 2033

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.

Market Overview -
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.

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Surge In Recreational Activities Fuels Growth In The Rigid Inflatable Boat Market
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.

Competitive Landscape -
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.

Lightweight Series Of Boats For Enhanced Performance
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.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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