About Life Jackets & Vests
Personal flotation devices, or PFDs, are the technical terms for life vests and life jackets. Because they are meant to keep a person afloat in the event of an emergency, they are considered life-saving equipment. A PFD's main purpose is to maintain a person on the water's surface in a reasonably upright position so that they can breathe and avoid having to tread water to stay afloat. A boat must carry at least one Coast Guard-approved PFD per passenger, including one for each individual water skiing, according to US Coast Guard regulations. Lifejackets are available in a variety of shapes, colours, and sizes. Many of them are light and pliable. Some are incorporated directly into fishing vests or hunter coats.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Life Jackets & Vests market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Survitec Group (United Kingdom), VIKING Life-Saving Equipment (Demark), Hansen Protection (Norway), Drager (Germany), Johnson Outdoors (United States), Kent Sporting Goods (United States), LALIZAS (Greece), Mustang Survival (Canada), International Safety Products (United Kingdom) and SECUMAR (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Jobesports (Netherlands), SALUS MARINE WEAR INC. (Canada) and Stormy Lifejackets (Australia).
Segmentation Overview
AMA Research has segmented the market of Global Life Jackets & Vests market by Type (Offshore Life Jackets, Near-Shore Vests, Flotation Aids, Throwable Devices and Special-Use Devices), Application (Watersports, Day Sailing, Offshore Sail and Paddle sports) and Region.
On the basis of geography, the market of Life Jackets & Vests has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Material , the sub-segment i.e. Neoprene will boost the Life Jackets & Vests market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Life Jackets & Vests market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Unisex will boost the Life Jackets & Vests market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Number Of Water Sports Facilities Across The Globe and Introduction Of Improved Quality Products
Market Growth Drivers:
Influence Of Growth In The Adventure Tourism Industry and Rising Awareness About Healthy Lifestyles
Challenges:
Fierce Competitive Pressure. and Rapid Changing Consumer Preferences
Restraints:
Raw Material Price Fluctuation and Availability Of Low Quality And Counterfeit Product
Opportunities:
Increasing Participation In Outdoor Recreational Activities, Increasing Demand From The Developing Economies and Growing The Sales Of Life Jackets & Vests On Online Platform
Market Leaders and their expansionary development strategies
On 6 May 2021, Global Survival Technology leader, Survitec, announced that it has completed the acquisition of Hansen Protection, a leading European provider of personal protective equipment. The transaction reinforces Survitec as the global leader for Survival Technology across the Maritime, Defence & Government, Energy, and Aerospace markets. Survitec’s complete portfolio and its wide-reaching footprint creates a single partner for customers across the globe. and On 4 August 2020, Mustang Survival, the North American brand known for innovative solutions for the most demanding marine environments, is announce, that after the recent acquisition of MTI Adventurewear by its parent company the Wing Group, the two brands will merge to create a key player in the paddlesports market.California based Wing Group, a leading manufacturer of inflatable sponsons, small combat craft, whitewater rafting solutions, life rafts, and marine doors and windows.
In March 2023, Isle of Wight, UK , Spinlock, a leading designer and manufacturer of innovative marine safety equipment, has launched of its DURO SOLAS+ life jacket specifically tailored for superyacht crew. The DURO SOLAS+ 275N lifejacket is designed to offer maximum protection and comfort to superyacht crew in emergency situations at sea.
Key Target Audience
Life Jackets & Vests Manufacturers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.