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Global Inflatable Boats Market: Overview

The global inflatable boats market is likely to witness substantial growth in the forthcoming years due to promising opportunities in various end use industries, such as defense, leisure. Increased spending on leisure and recreation activities together with growing utilization of inflatable boats in the maritime security is likely to drive the demand for these boats over the tenure of assessment, from 2020 to 2030.

In addition to that, rising demand for synthetic materials to lessen use of wood in the making of boat deck. Demand for environment friendly materials in the boat making process is anticipated to foster growth of the global inflatable boats market over the timeframe of assessment, from 2020 to 2030. Soft inflatable boats are high in demand due to its hassle-free transport, light-weight, and low cost.

The global inflatable boats market has been classified based on three important parameters, which are vehicle type, channel sales type, and region. Such segmentation offers better insight into the market.

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Global Inflatable Boats Market: Notable Developments

The global inflatable boats market has experienced some path-breaking, important developments over the last few years.

  • In March 2020, London-based leading player in defense and Aerospace, Babcock International, has entered into a partnership with US-based maker of rubber and plastic products, Wing Inflatables, Inc. Babcock has also entered into a 5 year contract with the Ministry of Defense, the UK. Both these partnerships are done to supply more than 200 inflatable boats to the defense department of the UK.

Some of the prominent companies in the global inflatable boats market are mentioned below:

  • Maxxon Inflatable Boats
  • AB Inflatables
  • Achilles Inflatable Crafts
  • Woosung I.B. Co. Ltd.
  • Damen Shipyards Group
  • Mercury Marine

Global Inflatable Boats Market: Key Trends

The global inflatable boats market is marked with the presence of the following challenges, market drivers, and promising opportunities.

Rise in Recreational Activities to Pave Way for Rapid Growth of the Market

A rise in the recreational activities, particularly water-related, together with the ability of people to spend more on such activities is likely to work in favor of the global inflatable boats market over the timeframe of assessment, from 2020 to 2030. There has been a rise in the income level of people, which is why they are spending more on recreational and travel-related activities. It is expected that these activities will increase in the coming years, which is expected to work in favor of the global inflatable boats market over the timeframe of analysis, from 2020 to 2030.

Expansion in the range of recreational boating activities has generated demand for inflatable canoes and kayaks and it offers more options and stability. As such, rigid inflatable boats have gained prominence in both leisure and commercial activities, which is expected to augur well for the market in the years to come.

Rigid inflatable boats are robust, durable, lightweight, and fast thereby making them ideal for use in several operations in the maritime world. As such, these inflatable boats are considered dependable and quite useful for maritime security operations. Riding on the back of its growing importance in maritime security, the global inflatable boats market is expected to observe high growth over the timeframe of analysis, 2020 to 2030.

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Global Inflatable Boats Market: Geographical Analysis

Asia Pacific is estimated to be one of the rapidly growing region in the global inflatable boats market and is exhibited to retain its high growth rate over the timeframe of analysis, from 2020 to 2030. Growth of the Asia Pacific region is likely to be driven by the presence of large base of population in the region. Rise in the disposable income together with the increased spending on recreational activities is estimated to pave way for rapid growth of the inflatable boats market in the Asia Pacific region.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Global Inflatable Boats Market

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