Marine Life Raft Market Report 2026

The marine life raft market size has grown strongly in recent years. It will grow from $1.1 billion in 2025 to $1.16 billion in 2026 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to international maritime safety regulations, growth in commercial shipping, offshore oil and gas expansion, cruise tourism growth, past maritime accident incidents.

The marine life raft market size is expected to see steady growth in the next few years. It will grow to $1.4 billion in 2030 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to stricter vessel safety standards, expansion of offshore wind farms, growth in global seaborne trade, modernization of marine safety equipment, increasing focus on crew survival systems. Major trends in the forecast period include enhanced inflatable life raft designs, improved survival equipment integration, growth in offshore safety compliance, lightweight and compact raft construction, rising demand for high capacity life rafts.

The increasing popularity of water sports is expected to drive the growth of the marine life raft market in the coming years. Water sports are recreational activities conducted on or in the water, such as swimming, surfing, kayaking, and sailing. This rising interest in water sports is fueled by a growing focus on outdoor recreational activities, health and fitness benefits, and the excitement and adventure they provide. Marine life rafts play a crucial role in water sports by ensuring participant safety, offering essential emergency equipment in case of accidents or unexpected incidents while on the water. For instance, in May 2023, according to a report by the National Marine Manufacturers Association (NMMA), a US-based trade association, the U.S. recreational boating industry generates an annual economic impact of US $230 billion, supporting over 36,000 businesses and 812,000 jobs. Therefore, the growing popularity of water sports is expected to boost the marine life raft market.

Leading companies in the marine life raft market are focusing on innovating their products to enhance safety features and functionality, meeting the evolving needs of customers in maritime safety. One notable innovation is the cruiser life raft, specifically designed as an emergency evacuation device for recreational vessels. These rafts are equipped with essential safety features and designed for rapid deployment during maritime emergencies. For example, Seago, a UK-based supplier of marine safety and water sports equipment, introduced the Cruiser Plus life raft in April 2023. Compliant with the latest ISO 2022 standard, ISO 9650-1 Type 2, this updated version of the Sea Cruiser life raft is tailored for the leisure marine market. It includes a redesigned boarding ramp for easier access and is available in sizes ranging from 4 to 10 people, offered in both valise and slimline canister options with a polished finish, enhancing both functionality and aesthetic appeal.

In April 2024, LALIZAS, a Greece-based manufacturer of marine equipment, acquired Revere Survival Inc., a US-based provider of safety and survival equipment, including marine life rafts. This strategic acquisition enables LALIZAS to leverage Revere Survival's extensive product portfolio, robust distribution network, and specialized technical expertise. By combining strengths, both companies are poised to better meet the increasing demand for high-quality life rafts and survival equipment in the maritime sector.

Major companies operating in the marine life raft market report include Viking Life-Saving Equipment A/S, Survitec Group Limited, Fujikura Composites Inc., Brastech Inc., Solas Marine Services Pvt Ltd, LALIZAS HELLAS SA, SHM Shipcare, Crewsaver, Arimar S.p.A., Datrex Inc., ShipServ Ltd, Switlik Survival Products LLC, Ocean Safety Ltd, Wing Inflatables Inc., Plastimo SAS, MIZUNO MARINE Co. Ltd., Vanguarde Ltd., Liferaft Systems Australia, Ovatek Inc., Life Raft and Survival Equipment Inc., Hellas Marine Services S.A., Safety Marine Australia Pty Ltd, Sea Safe Systems Pty Ltd, Inflatables International Inc., Jiangsu Huayan.

Asia-Pacific was the largest region in the marine life raft market in 2025. The regions covered in the marine life raft market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the marine life raft market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The marine life raft market consists of sales of physical life rafts, emergency survival kits, distress signals, and emergency lights. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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