Search And Rescue (SAR) Equipment Market: Trends and Growth Analysis || Amateur Radio Electronics, Aeromarine Srt, Cubic Corporation, Elbit Systems Ltd

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Search And Rescue (SAR) Equipment Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The search and rescue (sar) equipment market size has grown strongly in recent years. It will grow from $86.92 billion in 2023 to $91.62 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to natural disasters and emergency response needs, defense and military applications, maritime and aviation safety, government funding for sar operations, growth in outdoor recreational activities..

The search and rescue (sar) equipment market size is expected to see strong growth in the next few years. It will grow to $115.07 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to integration of ai and machine learning in sar operations, unmanned aerial vehicles (uavs) for sar, real-time communication and coordination, gps and satellite-based location tracking, expansion of private sector sar services, use of robotics and drones for sar.. Major trends in the forecast period include wearable sar technology for first responders, enhanced data analytics for predictive sar, ai-powered image and speech recognition, autonomous sar systems, green and sustainable sar equipment, cross-border and international sar coordination..

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Key Market Players:

Amateur Radio Electronics, Aeromarine Srt, Cubic Corporation, Elbit Systems Ltd, Garmin Ltd., Honeywell International Inc., RTX Corporation, Airborne Systems North America Inc., CMC Rescue Inc., Cascade Rescue Company, Angloco Ltd., Weber Rescue Systems, SAR Products Ltd., General Dynamics Corporation, Leonardo, Textron Systems, Thales Group, Viking Life-Saving Equipment, Mustang Survival, Survitec Group Limited, Drägerwerk AG & Co. KGaA, Cobham plc, BAE Systems plc, L3Harris Technologies Inc., FLIR Systems Inc., Harken Inc., Epik Medical Group, Rock Exotica, Skylotec GmbH, National Retail Solutions (NRS), Leader Electronics Corporation are prominent players in the industry.

Market Drivers:

Increasing terrorism and insurgency are expected to propel the growth of search and rescue equipment going forward. Terrorism is viewed as a means of achieving a political goal, whereas insurgency is a political movement with a clear political objective. Increasing terrorism and insurgency directly cause economic destruction of property and lives and indirectly affect the economy through xenophobia, loss of tourism, creating market uncertainty, and increased insurance claims. For instance, according to Center for Strategic and International Studies, a US-based NGO, there were nearly 73 terrorist attacks and plots in the United States in 2021. In the 2020 the number of fatalities were 5 which increased to 30 in 2021. Also, according to Global Terrorism Index 2022, published in ReliefWeb, a US-based humanitarian information portal, despite an increase in attacks, the impact of terrorism continues to decline. In 2021, deaths from terrorism fell by 1.2% to 7,142, while attacks rose by 17%, highlighting that terrorism is becoming less lethal. Therefore, increasing terrorism and insurgency are driving the growth of the search and rescue equipment market going forward.

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Market Segments Include:
1) By Equipment: Rescue Equipment, Search Equipment, Communication Equipment, Technical Equipment, Planning Equipment, Other Equipment
2) By Platform: Airborne, Marine, Ground-Based
3) By Application: Combat SAR, Urban SAR Industrial

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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