Rigid Inflatable Boats Global Market Report 2024

The rigid inflatable boats market size has grown strongly in recent years. It will grow from $1.36 billion in 2023 to $1.48 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth observed in the historic period within the rigid inflatable boat (RIB) industry can be attributed to several key factors. These include increased adoption by military and defense entities for various operations, utilization in maritime search and rescue missions, popularity in leisure and recreational boating activities, deployment in coastal patrol and law enforcement operations, and the expanding interest and participation in water sports. These factors collectively contributed to the growth and development of the rigid inflatable boat market during the historical period.

The rigid inflatable boats market size is expected to see strong growth in the next few years. It will grow to $1.96 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth in the forecast period within the rigid inflatable boat (RIB) industry is expected to be driven by various factors. These include the integration of smart technology into RIBs, the expansion of fishing and diving activities driving demand, evolving requirements in maritime security leading to RIB utilization, advancements in hybrid propulsion systems, and the rising popularity of adventure tourism. Key trends projected for this period encompass the adaptation of RIBs for adventure cruising purposes, a greater emphasis on eco-friendly and sustainable practices in RIB manufacturing and operation, increased focus on stability in RIB design, the development of compact and portable RIB models, and the emergence of high-performance racing RIBs. These trends are likely to significantly impact the market dynamics and drive the growth of the rigid inflatable boat industry in the forecasted period.

The anticipated surge in leisure activities is poised to significantly contribute to the growth of rigid inflatable boats. Leisure activities, characterized by recreational pursuits for enjoyment, relaxation, and personal growth, are expected to drive demand for rigid inflatable boats used in recreational boating. These activities offer individuals opportunities for fun, stress relief, exercise, camaraderie, exploration, and a close connection with the sea. In 2022, the Outdoor Foundation reported that the outdoor recreation participant base in the United States reached a record high of 164.2 million Americans (ages 6 and over) in 2021, representing 54% of the population and indicating a 2.2% growth compared to the previous year. This surge in leisure activities is a key factor propelling the growth of the rigid inflatable boat market.

The increasing maritime security threats are also expected to drive the growth of the rigid inflatable boat market. Maritime security threats encompass risks and dangers posed to vessels, ports, and maritime activities, including piracy, terrorism, smuggling, and other illicit activities. Rigid inflatable boats are well-suited for addressing maritime security threats due to their agility and versatility, making them ideal for rapid response, patrolling, and interdiction. According to a report by the International Maritime Organization (IMO) in April 2023, there was an increase in piracy and armed robbery incidents against ships in the Straits of Malacca and Singapore, with 72 incidents reported compared to 70 incidents in 2021. Notably, approximately 81% of the incidents recorded in 2022 involved targeting a moving ship within these straits. Consequently, the rising maritime security threats are a significant driver for the rigid inflatable boat market.

Prominent companies in the rigid inflatable boats market are strategically focusing on the development of lightweight boat series, specifically aluminum hull inflatable boats, to enhance performance and gain a competitive advantage. Aluminum hull inflatable boats are characterized by their lightweight nature and feature rigid aluminum bottoms, providing durability and increased stability. In October 2021, Yamaha, a leading Japan-based equipment manufacturer, introduced the YAM 350, 310, and 270 TAf models, a new series of aluminum hull inflatable boats. These lightweight vessels are designed to require less horsepower, resulting in a more cost-effective engine and boat combination. The rigid aluminum hulls contribute to enhanced stability for navigating rough waters. The boats offer various Yamaha Outboard options and seating configurations, including optional bench seats and consoles for additional features and protection.

Leading companies in the rigid inflatable boats market are also directing their efforts towards the development of next-generation RIBs, with a focus on electric RIBs for sustainability and revenue growth. Electric RIBs, characterized by an inflatable collar and an electric propulsion system, provide a sustainable and efficient boating experience. In May 2021, RS Electric Boats, a UK-based sailboat manufacturer, launched the Pulse 63, an upgraded electric RIB featuring a more efficient hull shape, reduced drag, and quick acceleration. The Pulse 63 is powered by RAD Propulsion's 40 kW motor and a 46-kW modular Lithium-Ion battery pack from Hyperdrive, offering increased flexibility in design and passenger capacity. This strategic focus on electric RIBs aligns with the growing emphasis on sustainability and eco-friendly alternatives within the boating industry.

In February 2022, Vortec Group Limited, a UK-based company specializing in sailboat maintenance, repair, and refit services, successfully acquired Rib-X International Ltd. The specific financial details of the acquisition were not disclosed. This strategic move serves to expand, diversify, and enhance Vortec's capabilities in producing high-quality British-made products. The acquisition is anticipated to facilitate further business growth for Vortec, which already possesses a well-established market presence and a reputable history of supplying leading superyacht manufacturers. Rib-X International Ltd., the acquired company, is a UK-based manufacturer specializing in the production of rigid inflatable boats (RIBs).

Major companies operating in the rigid inflatable boats market report are Mercury Marine, Damen Holding B.V., Damen Shipyards Group, Vector Ltd., ASIS Boats, Brig Boats, Zodiac Nautic, Highfield Boats Co. Ltd., Highfield Boats, Falcon Inflatables, Williams Jet Tenders Limited., Walker Bay Boats, Sealegs International Limited., Walker Bay Boats Inc., Sealegs International Ltd., AB Inflatables, Novurania of America Inc., Bombardier Recreational Products, Tornado Boats, Ribcraft USA LLC, Grabner GmbH, Quicksilver Boats, Achilles Inflatable Boats, Maxxon Inflatable Boats, Grand Marine International, Avon Marine, Woosung I.B. Co. Ltd., Honwave, Crompton Marine.

Asia-Pacific was the largest region in the rigid inflatable boat market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the rigid inflatable boats market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the rigid inflatable boats market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary types of rigid inflatable boats include flying inflatable boats (FIB), foldable rigid inflatable boats (FRIB), amphibious rigid inflatable boats (amphibious RIB), and other variations. Flying inflatable boats (FIBs) specifically blend the capabilities of a powered paraglider or paramotor with those of an inflatable boat, offering unique functionalities on water surfaces. These boats can feature hulls constructed from materials such as aluminum and fiberglass and are propelled by various means including outboard and inboard propulsion systems. They find applications across diverse end-user segments such as commercial, military, rescue operations, and other specialized uses.

The rigid inflatable boat market research report is one of a series of new reports that provides rigid inflatable boat market statistics, including rigid inflatable boats industry global market size, regional shares, competitors with a rigid inflatable boat market share, detailed rigid inflatable boat market segments, market trends, and opportunities, and any further data you may need to thrive in the rigid inflatable boats industry. This rigid inflatable boat market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The rigid inflatable boats market includes consists of sales of sports rigid inflatable boats, inflatable rescue boats (IRBs), and recreational rigid inflatable boats. 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.


This product will be delivered within 3-5 business days.