Search and Rescue (SAR) Equipment Market worth $125.66 Billion by 2022


Posted June 29, 2020 by sandeep_roy

The search and rescue equipment market is projected to grow from an estimated $113.62 Billion in 2017 to $125.66 Billion by 2022, at a CAGR of 2.03% during the forecast period, 2017 to 2022.

 
The report "Search and Rescue (SAR) Equipment Market by Application (Combat & Urban), Equipment (Rescue, Search, Communication, Technical, Medical, Logistics & Planning), Platform (Airborne, Marine & Ground-Based) and Region - Global Forecast to 2022", The SAR equipment market is estimated at USD 113.62 Billion in 2017 and is projected to reach USD 125.66 Billion by 2022, registering a CAGR of 2.03% during the forecast period. Increasing focus on human safety and rising terrorism and insurgency are expected to drive the SAR equipment market during the forecast period.

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Among applications, the combat SAR equipment segment is expected to be the largest segment of the SAR equipment market and is projected to grow at the highest CAGR during the forecast period.

Based on application, the combat SAR equipment segment is projected to lead the SAR equipment market. The technological advancements in SAR equipment used in and near combat zones and rise in defense budgets globally is propelling the combat SAR equipment market.

Based on platform, the ground-based segment is expected to be the largest segment of the SAR equipment market and is projected to grow at the highest CAGR during the forecast period.

On the basis of platform, the ground-based segment of the SAR equipment market is expected to grow at the highest CAGR during the forecast period, primarily driven by the increasing demand to provide better services for ground search and rescue to people in distress during accidents and natural calamities on land.

Based on equipment, the logistics equipment segment of the SAR equipment market is projected to grow at the highest CAGR during the forecast period.

On the basis of equipment, the logistics equipment segment of the SAR equipment market is expected to grow at the highest CAGR during the forecast period. The growth is attributed to the equipment required to maintain SAR squads. Demand for sleeping bags, food and water, cold weather gear, portable toilets, portable showers, gloves, earplugs, kneepads, respirators, and protective eyewear, and administrative equipment such as office supplies and reference materials is increasing for urban and combat SAR operations.

North America is projected to be the largest SAR equipment market

The U.S. is estimated to lead the North American SAR equipment market in 2017. Countries in this region include the U.S. and Canada. Factors responsible for this dominance of North America are SAR aircraft modernization programs and increasing demand for human safety. The U.S. is expected to drive the North American SAR equipment market.

Key Market Players

Some of the key players operating in the SAR equipment market include Honeywell International Inc. (U.S.), Rockwell Collins (U.S.), Thales Group (France), Leonardo S.p.A. (Italy), Textron (U.S.), and General Dynamics Corporation (U.S.), among others.

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Issued By MarketsandMarkets Research Pvt. Ltd.
Country United States
Categories Business , Defense , Security
Tags Search and Rescue Equipment Market , SAR Market
Last Updated June 29, 2020