SAN FRANCISCO, 22 October 2021 / PRNewswire / – A new market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Search and Rescue (SAR) Equipment – Global Market Trajectory and Analysis”. The report presents new perspectives on the opportunities and challenges in a dramatically transformed post-COVID-19 market.
FACTS AT A GLANCE
Editing: 6; Posted: April 2021
Executive pool: 4838
Companies: 46 – Players covered include ACR Electronics, Inc .; Aeromarine Srt; Cubic society; Elbit Systems Ltd .; Garmin Ltd. ; Societe Generale de Dynamique; Honeywell International, Inc .; Leonardo SpA; Raytheon Company; Rockwell Collins, Inc .; Textron Systems Corporation; Thales Group and others.
Blanket: All major geographies and key segments
Segments: Equipment (rescue, search, communication, logistics, other equipment); Platform (airborne, marine, ground)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; and rest of Europe); Asia Pacific; Rest of the world.
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Global Search and Rescue (SAR) Equipment Market to Reach $ 130.1 billion by 2026
Amid the COVID-19 crisis, the global search and rescue (SAR) equipment market is estimated to be 114.9 billion US dollars in 2020, is expected to reach a revised size of US $ 130.1 billion by 2026, with a 2% CAGR over the analysis period. Rescue, one of the segments analyzed in the report, is expected to register a CAGR of 1.7% and reach US $ 31.8 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Search segment is readjusted to a revised CAGR of 1.9% for the next 7 year period.
The US market is estimated at $ 34.7 billion in 2021, when China is expected to reach $ 22.9 billion by 2026
The search and rescue (SAR) equipment market in the United States is estimated at US $ 34.7 billion in 2021. China, the world’s second-largest economy, is expected to reach a projected market size of US $ 22.9 billion by 2026, with a CAGR of 1.7% over the analysis period. Other notable geographic markets include Japan and Canada, each forecasts growth of 1.9% and 1.5% respectively over the analysis period. In Europe, Germany is expected to grow by around 1.6% CAGR.
Communication segment to be reached US $ 20.1 billion by 2026
In the Global Communication segment, United States, Canada, Japan, China and Europe will lead to the estimated 2.3% CAGR for this segment. These regional markets representing a combined market size of US $ 14.1 billion in 2020 will reach a projected size of US $ 16.5 billion before the end of the analysis period. China will remain among the most dynamic of this group of regional markets. Following
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Global Industry Analysts, Inc.
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SOURCE Global Industry Analysts, Inc.