Technical term used in engineering and product descriptions to indicate that something can be inflated. Often seen in compound nouns such as 可膨張式救命いかだ (inflatable life raft).
See also: 膨張式
An inflatable boat is convenient for storage.
膨張式 is a shorter synonym also meaning 'inflatable'. 可膨張式 explicitly includes the character 可 (possible), emphasizing the capability of being inflated.
Compound of 可 (possible), 膨張 (expansion/inflation), and 式 (type/style). The reading is the standard on'yomi combination.