The Collaborative International Dictionary of English v.0.48:

Davit \Dav"it\, n. [Cf. F. davier forceps, davit, cooper's
   instrument, G. david davit; all probably from the proper name
   David.] (Naut.)
   (a) A spar formerly used on board of ships, as a crane to
       hoist the flukes of the anchor to the top of the bow,
       without injuring the sides of the ship; -- called also
       the fish davit.
   (b) pl. Curved arms of timber or iron, projecting over a
       ship's side of stern, having tackle to raise or lower a
       boat, swing it in on deck, rig it out for lowering, etc.;
       -- called also boat davits. --Totten.
       [1913 Webster]

WordNet (r) 3.0 (2006):

davit
    n 1: a crane-like device (usually one of a pair) for suspending
         or lowering equipment (as a lifeboat)