Acknowledging the kind of traction gained by this market, Industry Data Analytics recently published a study report asserts the global Search and Rescue Equipments Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 2.2% during the review period (2022 to 2027).
Search and Rescue (SAR) equipment is used to locate and rescue people who are in distress or in imminent danger. Search and Rescue Equipments include communication equipment, medical equipment, complementary devices which are intended for the search and rescue system. Search and Rescue Equipments are usually used by non-combat search & rescue and combat search & rescue. The equipment can be segmented into categories like search equipment, rescue equipment, medical equipment, and communication equipment.
The global search and rescue equipment market is expected to expand significantly as a result of increased focus on human safety and increased terrorist activity. However, the burden of government budgets may stifle market growth. Furthermore, a lack of skilled labour may pose a challenge to the search and rescue equipment market. Increased search and rescue operations, as well as rapid upgradation of search and rescue equipment by governments across the globe, are major factors driving demand for the search and rescue equipment market during the forecast period.
Owing to the increasing demand for leading-edge and rapid & effective products even in a densely competitive market, investors are hopeful about the market and there will be more investments in the market. It is expected that the consumption value along with consumption volume will keep on increasing in the next five years.
The global Search and Rescue Equipments includes the identification and analysis of the various market participants competing in the global market. Prominent competitors include Honeywell, Thales Group, General Dynamics Corporation (NYSE:GD), Garmin Ltd. (NYSE:GRMN)., Raytheon Company, Leonardo S.p.a. (Milan:LDO.MI)., Rockwell Collins, FLIR Systems, Textron Systems, Cubic Corporation, Elbit Systems Ltd. (NasdaqGS:ESLT), Teikoku Sen-i Co., Ltd. (Tokyo:3302.T), ACR Electronics, GENETECH Group, Airborne Systems Limited, CMC Rescue and others.
Industry News and Updates:
August 23, 2021 :The U.K. Ministry of Defence (MoD) has selected General Dynamics Mission Systems to provide an additional 30 CTS-6025 Combat Search and Rescue (CSAR) Test Sets via a multi-million-dollar contract. The recent order, executed by General Dynamics Mission Systems’ U.K.-based distributor, Muirhead Aerospace, is based on the success of the 30 units that were delivered last year, bringing the total number of units ordered by the U.K. MoD to 60.
October 13, 2020: Honeywell (NYSE: HON) announced new features to its portfolio of search and rescue software solutions that help countries and emergency response organizations perform rescue operations and track and locate important assets, such as a downed plane or a missing ship.
The market is segmented based on the type, applications, companies, and regions.
By Type, it is segmented into
By Application, it is segmented into
By Platform, Search And Rescue Equipments Market Is,
The US market is expected to be $34.7 billion in 2022, while China is expected to reach $22.9 billion by 2027.The market for Search and Rescue (SAR) Equipment in the United States is expected to be worth $34.7 billion by 2022. China, the world's second-largest economy, is expected to reach a market size of US$22.9 billion by 2027, with a CAGR of 1.7 % over the analysis period. Among the other notable geographic markets are Japan and Canada, which are expected to grow at 1.9 % and 1.5 %, respectively, over the analysis period. Germany is expected to grow at a CAGR of around 1.6 % in Europe.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 4.0% over the forecast period (2022-2027) |
By Type |
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By Application |
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By Companies | Honeywell, Thales Group, General Dynamics, Garmin Ltd., Raytheon Company, Leonardo S.P.A., Rockwell Collins, FLIR Systems, Textron Systems, Cubic Corporation, Elbit Systems, Teikoku Sen-i, ACR Electronics, GENETECH Group, Airborne Systems Limited, CMC Rescue and others. |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 120 |
Customization Available | Yes, the report can be customized as per your needs |
What is the study period of this market?
The Search and Rescue Equipments Market is studied from 2017 - 2027.
What is the growth rate of the Search and Rescue Equipments Market?
The Search and Rescue Equipments Market is growing at a CAGR of 4.0% over the next 5 years.
Who are the key players in Search and Rescue Equipments Market?
Honeywell, Thales Group, General Dynamics, Garmin Ltd., Raytheon Company, Leonardo S.P.A., Rockwell Collins, FLIR Systems, Textron Systems, Cubic Corporation, Elbit Systems, Teikoku Sen-i, ACR Electronics, GENETECH Group, Airborne Systems Limited, CMC Rescue and others.
What regions does this Search and Rescue Equipments Market report cover?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Search and Rescue Equipments Market?
Combat Search and Rescue, Non-combat Search and Rescue
What are the major end-use applications of Search and Rescue Equipments Market?
Rescue Equipment, Search Equipment, Communication Equipment, Technical Equipment, Medical Equipment, Logistics Equipment, Planning Equipment
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SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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