The Global Market Report for Search and Rescue Equipment in 2023, presented by The Business Research Company, offers an expansive and in-depth analysis of the search and rescue equipment market across more than 60 geographies within seven distinct regions, namely Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, focusing on the 27 major global industries. This report not only encapsulates a meticulous examination of the current market scenario but also spans a decade-long historical analysis from 2010 to 2021, providing valuable insights into the market trends and dynamics. Furthermore, it offers a comprehensive forecast period extending from 2023 to 2032, presenting a holistic view of the expected market trajectory.
Learn More On The Search And Rescue Equipment Market’s Growth:
According to the aforementioned report, the market size for search and rescue equipment is poised to experience substantial growth, transitioning from $82.69 billion in 2022 to an estimated $87.45 billion in 2023, reflecting a commendable Compound Annual Growth Rate (CAGR) of 5.8%. However, this growth trajectory has been influenced and shaped by the significant disruptive impact of the Russia-Ukraine war on the global economic landscape. This conflict has hindered the prospects of a swift recovery from the COVID-19 pandemic on a global scale, particularly in the short term. The repercussions have been far-reaching, with economic sanctions imposed on multiple nations, a surge in commodity prices, and notable disruptions within supply chains, leading to inflationary pressures across both goods and services, thereby impacting a multitude of markets globally.
In light of these dynamic circumstances, the projected market size for global search and rescue (SAR) equipment anticipates further growth, with an estimated value of $106.48 billion in 2027, showcasing a notable CAGR of 5.0%. This underscores the enduring resilience and potential for expansion within the search and rescue equipment market, despite the prevailing challenges posed by geopolitical and economic instabilities.
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Technological advancements have emerged as a key trend in the search and rescue equipment market. New designs and technology are changing the way in which search and rescue (SAR) missions are being conducted. Several improvements have been made in terms of searchlights, helmet-mounted displays, cameras, spin prevention technology, wireless crew communications, and equipment in order to find missing people more safely and quickly. For instance, in October 2020, Axnes, a Norway-based manufacturer of mission-critical wireless intercom systems optimized for SAR teams, operating in the search and rescue equipment market, introduced Polycon Next Generation (PNG) wireless ICS extension, which is an encrypted, highly adaptable, full-duplex mission system that extends communications beyond an airframe at a robust line-of-sight range.
The search and rescue equipment market is segmented:
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
North America was the largest region in the search and rescue equipment market in 2022.
The table of contents in TBRC’s search and rescue equipment market report includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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