Search and Rescue (SAR) Equipment Market Set to Total USD 157 Million by 2034 Amid Rising Aging Population Across the Globe | Future Market Insights Inc.

The SAR equipment market is expanding due to governments' efforts to modernize and upgrade search and rescue tools. This growth is further driven by increased funding for military and defense sectors, as well as disaster preparedness initiatives. These factors are collectively enhancing the capabilities and effectiveness of SAR operations.

NEWARK, Del., June 20, 2024 /PRNewswire/ -- The search and rescue equipment market size is estimated to reach USD 108.2 million in 2024 and grow at a CAGR of 3.8% from 2024 to 2034. Global sales of the equipment are projected to reach USD 157 million by 2034. This increased demand is driven by the transition from traditional lighting to solid-state lighting systems in displays.

Asia Pacific is anticipated to remain the primary market for SAR equipment fueled by its robust manufacturing base and technological prowess. South Korea is estimated to lead the industry with a predicted CAGR of 6% through 2034, while Japan closely follows with an estimated CAGR of 5.4% until 2034.

Land was the leading platform in the industry due to the ease of navigation. In 2023, the land segment accounted for a value share of 43%. Communication dominated the industry based on equipment, holding a market share of 47% in 2023.

The SAR equipment sector is shaped in large part by government financing. With the help of these financial resources, SAR teams will be able to buy cutting-edge technology, directly boosting the market for SAR equipment and increasing demand for high-caliber equipment.

Get Your Sample Report - Drive Business Success: https://www.futuremarketinsights.com/reports/sample/rep-gb-19695 

The development of equipment for specific habitats and landscapes, such as mountains, aquatic bodies, or urban disaster zones, is set to be encouraged by funding designated toward equipment for unique challenges faced by certain geographical places. Robots with artificial intelligence (AI) capabilities can be used in dangerous situations to find survivors, evaluate damage, or transport necessities. AI-enabled drones can cover wide search regions and provide vital information back to the command center, saving time and reducing the chance that people will be exposed to dangerous locations

Innovation and investment in the infrastructure of SAR equipment are expected to be fueled by public and private collaborations between government agencies, nonprofits, and private businesses. In order to keep a firm grip on the market, top companies in the SAR equipment sector are continuously acquiring and partnering with other businesses, leading to a noticeable trend of mergers and acquisitions in the sector. In an effort to innovate and improve the SAR equipment market's effectiveness and efficiency, companies are continuously spending on research and development. The market for SAR equipment is expected to increase steadily over the next ten years.

Key Takeaways from the Market Report

• The SAR market is set to reach USD 157 million by 2034 with a CAGR of 3.8%.
• By platform, land is leading the global market with a value share of 43% in 2023.
• Based on equipment, communications accounted for a market share of 47% in 2023.
• South Korea is estimated to record a CAGR of 6% between 2034 and 2034.
• Japan will likely hold the dominant position in the global market and show steady growth at a CAGR of 5.4% by 2034.

"Advancements in AI technology is projected to drive significant innovation leadings. This is anticipated to lead to increased efficiency and effectiveness of SAR equipment," says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).

Get in Touch with Our Sales Team to Secure Your Copy of the Report Now! https://www.futuremarketinsights.com/checkout/19695 

Who's Winning?

Savox Communications, Shenzhen Hoverstar Flight Technology, Mayday Scandinavian International AB, and other leading businesses are competing for market share in the SAR equipment sector. In the context of the dynamically changing search and rescue (SAR) equipment market, all players are vying for consumer attention.

Manufacturers contest with specialization, innovation, and cost-effectiveness in the dynamic SAR equipment market. They are collaborating with and acquiring start-ups in addition to developing new and enhanced SAR equipment to pool their resources and create cutting-edge SAR solutions. They are also putting more emphasis on certain SAR applications and stressing how crucial practice and training are to successful SAR operations.

Tight certification processes and safety regulations may make it difficult for new competitors to enter the market. In this industry, striking a balance between affordability and superior quality is crucial, particularly in places with limited resources. Businesses are trying to modify their approaches to meet the various rules and specifications of several regions. Technological developments will increase the need for specialist equipment, which are set to further change the market's competitive environment.

Industry Updates

• The National Search and Rescue Center (NSRC), in February 2024, announced that it will be hosting its 3rd Edition of the International Search and Rescue Exhibition (INSRC) 2024, a premier global event focused on featuring cutting-edge innovations and institutional frameworks to advance the field of search and rescue, under the cover of the National Guard Command (NGC).
• East Sussex Fire and Rescue Service, in May 2024, invited people over the age of 18 to attend a Session, "Have a Go," at the Eastbourne Fire Station to allow people to gain hands-on experience with tasks and equipment handled by firefighters.

Full Reports Review: https://www.futuremarketinsights.com/reports/search-and-rescue-equipment-market

Get More Insights into the Search and Rescue Equipment Market Report

In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the search and rescue equipment market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the industry potential, growth, and scope, the industry is segmented based on platform (airborne, marine, and land), type (combat, urban, and industrial), equipment (tactical and military kits, survival, signaling, medical, communications, and others), weight (light-weight SKAD and heavy-weight SKAD), and regions.

About Future Market Insights – Industrial Automation

The Industrial Automation division of Future Market Insights offers a novel approach and innovative perspective in analyzing the industrial automation domain. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.

Key Segments of Market Report:

By Platform:

Based on platform, the SAR equipment sector is divided into airborne, marine, and land.

By Type:

By type, SAR equipment is segregated into combat, urban, and industrial.

By Equipment:

Based on equipment, SAR equipment sector is split into tactical and military kits, survival, signaling, medical, communications, and others.

By Weight:

By weight, the sector is segregated into light-weight SKAD and heavy-weight SKAD.

By Region:

Based on regions, the sector is distributed across North America, Latin America, Western Europe, South Asia, East Asia, Eastern Europe, and the Middle East and Africa.

Authored By:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Explore Future Market Insights, Inc. Extensive Coverage in Industrial Automation Domain:

The valuation of the total sales of compact construction equipment in the year 2023 is estimated to be US$ 224.1 billion. The global compact construction equipment market is expected to register a CAGR of 3.8% from 2023 to 2033. Based on the compact construction equipment market analysis report by FMI, it can reach US$ 325.4 billion by 2033.

Sales of mining equipment in Latin America are estimated to be valued at US$ 6,846 million in 2024 amid their growing usage in the construction sector. The industry is projected to surge at a CAGR of 4.7% throughout the forecast period. By 2034, the industry size is set to reach US$ 10,836.9 million.

The global compact power equipment rental market size is anticipated to surpass a valuation of US$ 111,077.4 million in 2023. The expanding market value and a wide range of applications are projected to be the market's primary growth drivers.

The security and surveillance equipment market is estimated to be valued at USD 19,549.8 million in 2024 and is projected to register a CAGR of 4.8% in the forecast period from 2024 to 2034. The market is projected to reach USD 31,243.2 million in 2034.

The rescue hoist system market is anticipated to flourish at an average CAGR of 3.8% between 2023 and 2033. The market is expected to hold a market share of US$ 845 million by 2033, while the market is likely to reach a value of US$ 581.9 million in 2023.

The global gas detection equipment market size reached USD 3,613.7 million in 2023. Over the forecast period, demand is anticipated to rise at 6% CAGR. The total value is predicted to increase from USD 3,801.1 million in 2024 to USD 6,801.6 million in 2034. The sector is predicted to surge around 1.8X through 2034, amid a 3.5% increase in expected CAGR compared to the historical one.

Commercial refrigeration system market is projected to grow steadily, reaching USD 54.8 billion in 2024. The market is expected to reach USD 87.6 billion by 2034, representing a CAGR of 4.8%.

The global land survey equipment industry value reached USD 6945.9 million in 2023. Over the forecast period, the sector is anticipated to rise at 7.8% CAGR. The sector is predicted to increase from USD 7487.6 million in 2024 to USD 15868.4 million in 2034.

The global construction material testing equipment (CMTE) industry value reached USD 3 billion in 2023. Over the forecast period, the value is anticipated to rise at 4.9% CAGR. The market is predicted to increase from USD 3.3 billion in 2024 to USD 5.3 billion in 2034.

About Future Market Insights Inc. (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us: 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn | Twitter | Blogs | YouTube

Logo: https://mma.prnewswire.com/media/1197648/3531122/FMI_Logo.jpg