Industry Background:
Flotation suits (or floatation suits) are waterproof dry suit aimed to protect the wearer from the first shock in cold water, after abandoning a sinking or capsized vessel, particularly in the open ocean. These suits are regarded as standard equipment at some of the sea fishing camps due to safety and comfort provided by the floatation suits in bad weather conditions. Floatation suits are used as lifesaving suits that protect children as well as adults from draining in the water. A floatation suit works by providing inherent buoyancy foam in its lining which floats a wearer in the water. The growing demand for floatation suits by fishing professionals is increasing the market size of floatation suits globally.This growth is primarily driven by Demand from Emergency Rescue Departments and Increasing use by Professionals as Floating Suits Protect Against the First Cold Shock.
Globally, a noticeable market trend is evident Trend to Use Floatation Suits as Lifejacket. Major Vendors, such as Mustang Survival USA (United States), Amron International, Inc. (United States), Mullion PFD (United Kingdom), Canepa & Campi S R L (Italy), Fairpoint Outdoors A/S (Denmark), Hansen Protection AS (Norway), URSUIT OY(Finland), Baltic Safety Products AB (publ) (Sweden), DSB Deutsche Schlauchboot GmbH (Germany), International Safety Product (United Kingdom), Jiaxing Waldo industry Co.,Ltd (China), Kent Safety Products (United States), Mullion Survival Technology (United Kingdom), Regatta (United Kingdom), VIKING LIFE-SAVING EQUIPMENT A/S (Denmark) and Granite Workwear Ltd (England) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In June 2019, The Wing Group acquired Mustang Survival, a North American market leader in lifesaving equipment along with its subsidiaries Mustang Survival ULC and Mustang Survival Holdings, Inc. This acquisition expanded Wing Group’s marine and over-water aviation products portfolio.
Market Drivers
- Demand from Emergency Rescue Departments
- Increasing use by Professionals as Floating Suits Protect Against the First Cold Shock
Market Trend
- Trend to Use Floatation Suits as Lifejacket
Restraints
- High Cost of Floating Suits
Opportunities
Increasing Demand from Emerging Countries such as China, India, and Japan, Growing Use for Kids While Doing Water Activities and Increasing Consumption through E-commerce Channels
Challenges
Durability and Resistivity of Product
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Flotation Suits Study Sheds Light on
The Flotation Suits Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Flotation Suits industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Flotation Suits industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.