A tourniquet is a single, specialised tool for one job: stopping severe, life-threatening bleeding from an arm or leg when direct pressure alone will not control it. A proper windlass tourniquet — the CAT and SOF-T designs are the recognised standard — is applied high and tight above the wound and cranked until the bleeding stops. It is not a general first-aid item; it is the thing you reach for in the minutes that decide whether someone survives a major limb injury from a chainsaw, a road accident or a serious cut. Used correctly it buys time until an ambulance arrives, and it is small enough to live in a car, a workshop or a walking pack.
A first aid kit is the opposite: a broad box of supplies for the everyday injuries that actually happen most often — cuts, grazes, burns, blisters, sprains, splinters and headaches. A decent UK kit holds plasters, sterile dressings, wound wipes, tape, scissors, gloves and a foil blanket, covering the wide middle ground of minor and moderate injury. What most standard first aid kits do not include is a real tourniquet, and the small elasticated 'tourniquets' sometimes bundled in cheap kits are not designed to stop arterial bleeding. The two are not rivals so much as different layers of the same plan.