Free Fall Lifeboats Market Analyzed in a New Research Study
New York, NY -- (SBWire) -- 12/11/2018 --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
Free Fall Lifeboats Market – Segmentation
Based on the product type, the global free fall lifeboats market is segmented into:
Totally enclosed Lifeboats
Based on the types, the global free fall lifeboats market is segmented into:
Based on the Applications, the global free fall lifeboats market is segmented into:
Semi-submersible drilling platforms
Fixed production platforms
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.
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