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Search And Rescue (SAR) Equipment market Size, Share And Growth Analysis For 2024-2033
Search And Rescue (SAR) Equipment Market Size, Share, Revenue , Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON , UK, September 12, 2024 /EINPresswire / -- The search and rescue (sar) equipment market has experienced robust growth in recent years, expanding 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.
Strong Future Growth Anticipated
The search and rescue (sar) equipment market is projected to continue its strong growth, reaching $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.
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Growth Driver Of The Search And Rescue (SAR) Equipment Market
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.
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Major Players And Market Trends
Key players in the search and rescue (sar) equipment market include Amateur Radio Electronics, Aeromarine Srt, Cubic Corporation, Elbit Systems Ltd., Garmin Ltd., Honeywell International Inc., RTX Corporation.
Major companies operating in the search and rescue (SAR) equipment market are developing new muti-functional rescue tools to sustain their position in the market. Multi-functional rescue tools are versatile devices designed to assist in various emergency situations, combining features such as cutting, prying, and glass-breaking capabilities.
Segments:
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
Geographical Insights: North AmericaLeading The Market
North America was the largest region in the search and rescue (SAR) equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the search and rescue (sar) equipment market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Search And Rescue (SAR) Equipment Market Definition
The search and rescue (SAR) equipment is used to locate trapped people during search and rescue operations for those hurt in accidents, fires, and other urgent circumstances.
Search And Rescue (SAR) Equipment Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Search And Rescue (SAR) Equipment Global Market Report 2024by The Business Research Company is the most comprehensive report that provides insights on search and rescue (sar) equipment market size , search and rescue (sar) equipment market driversand trends, search and rescue (sar) equipment market major players, search and rescue (sar) equipment competitors' revenues, search and rescue (sar) equipment market positioning, and search and rescue (sar) equipment market growth across geographies. The search and rescue (sar) equipment market reporthelps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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