The inflatable boats are used for search and rescue operations, coastal security as well as for sprots and water-based fun activities. These boats are often equipped with motors in order to increase their range and speed. With the increasing number of people moving towards water-based activities as well as government and military forces shifting their focus towards recreational activities and preparedness towards disaster management and coastal security the demand for inflatable boats is anticipated to rise. According to the UnivDatos Market Insights Analysis, growing demand for recreational activities will drive the growth scenario of Inflatable Boats and as per their “Inflatable Boats Market” report, the global market was valued at USD 1260 million in 2023, growing at a CAGR of 5.44% during the forecast period from 2024 - 2032. 

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Rising Demand of Air Taxis from Commercial and Military Application:

The rising demand of inflatable boats for both commercial and military application is one of the key factors that has attributed to the rise. Additionally, as the usage of inflatable boats are easy to be maneuvered and less expensive to be operated by the coastal forces. The rigid inflatable boats also offer decent seating capacity which assists in the rescue operations in sea operations. Additionally, for other commercial applications such as surveys and inspection, construction and maintenance, fishing, etc., the demand for inflatable boats has rapidly increased. As per the growing focus on coastal security many of the coastal forces have announced their plans to increase their fleet of inflatable boats through acquisition. For instance, in 2023, ASIS Boats announced that it has delivered 13 inflatable boats to the defense forces of Albania.

In another instance, in 2023, the state government of Uttar Pradesh, India announced to purchase 804 inflatable boats for the 22 flood prone areas for disaster management. The total cost of the project was USD 10 million.

Considering the rising demand for inflatable boats from government authorities and military for security and disaster management purposes across the globe the market is anticipated to witness a rise. Additionally, the focus on other commercial application of both rigid and soft inflatable boats the market would further exhibit a promulgation in the forthcoming years i.e., 2024-2032.

Integration of Smart Technologies:

Many of the companies providing inflatable boats have aligned their efforts towards integrated smart technologies to improve its operational efficiency. These smart technologies also offer enhance boat functions and greater safety while sailing. In line with this many of the companies have started including smart technologies. For instance, Navtech, one of the key inflatable boats announced to launch inflatable boats with the Artificial Intelligence. KYMS is a digital platform which has been integration in the inflatable boats with an on-board embedded system, a cloud platform, web/mobile application. Through this NMEA2000 software network, vessels can acquire information with respect to GPS, Radar data, echo-sounder, engine data, etc.

Various other companies have also integrating smart technologies in the inflatable boats which would attract more buyers to opt for the same systems.

Considering the upsurge in the demand for the smart technologies for alleviating the operational efficiency the demand for Inflatable Boats solutions across the globe would noticeably surge during 2024-2032.

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Conclusion:

The Global Inflatable Boats market is experiencing a transformative phase driven by technological advancements, sustainable inflatable boat production and operations, digitalization, market dynamics, and implementation of government policies. Stakeholders across the industry are embracing these trends to enhance operational efficiency, etc.