PFDs
The majority of flotation devices on the market today are not lifejackets, but in fact PFDs (personal flotation device). PFDs evolved from the need to make a device that would be sufficiently comfortable for users to wear all the time. For PFDs to be more comfortable the buoyant material had to be redistributed. This reduces the performance of the device as compared to lifejackets.
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Evidence shows that most small craft operators who drown do so within sight of a potential rescuer, and likely would have been saved if they remained afloat a few moments longer. Since most small craft users operate close to potential rescuers, it is more important to give them devices that will keep them afloat, and be worn, than high performance devices that are bulky and uncomfortable to wear.