ID: MRFR/ICT/5592-HCR | February 2023 | Region: Global | 100 Pages
Segmentation | |||||||||||||||||
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Companies Profiled | |
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Key Players | |
ACR Electronics | |
Inc. (US) | |
McMurdo Group (US) | |
HR Smith Group (U.K.) | |
Emergency Beacon Corporation (US) | |
Cobham Plc (U.K.) | |
ACK Technologies | |
Inc. (US) | |
Instrumar Limited (Canada) | |
and SERPE-IESM (France) |
Market Driving Forces | |
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Drivers | |
Asia-Pacific is estimated to grow at the highest CAGR during the forecast period owing to the increasing aviation security parameters being implemented by major countries in the region. |
Some factors helping in improving the growth rate of the market include some of the regulations of government concerning the usage of emergency beacons. Registration of products along with the presence of high availability of certain reliable products in the whole of the market helps in improving the emergency beacon transmitter opportunities.
The middle East and African region constituted of certain potentially developed growth opportunities because of the rising of tourism activities which has led to the rise in security parameters, in the aerospace industry. Investing much more in the development of advanced technology has helped in driving up market growth. The ability of these transmitters to provide instant action during the time of the accident in remote areas propels up the market size. Fast location and resume activities so conducted help in the growth of the market. By unifying GPS applications with the processing of signal activities, the industry has provided certain surveillance options which have helped in improving the market growth. A decrease in operational costs rises up the demand. High growth in demand for emergency beacon transmitters maximizes search and provides emergency tracking data and information which rises up and provides more emergency beacon transmitter opportunities.
The easy availability of substitutes product is one of the challenging factors affecting the development of the industry.
Restraints
High installation, spending too much on maintenance, and availability of certain other substitutes like satellite phones and satellite messengers act as a restraining factor for emergency beacon transmitter market size. Availability of certain products like satellite messengers, satellite phones, having some of the advanced features which include sending and receiving text messages, tracking and sharing of information, which also includes marine assistance. Low visibility range hampers up the expansion of market size.
Globally, the market is expected to grow at an influential rate during the forecast wm hrlpelobally18-2023. From geographical emergency beacon transmitter market analysis it has been found that the market extends to the region of North America, some of Asia Pacific, Europe, and some of the rest regions in the world. North America followed by some of the European regions dominates the market during the review period. This region is highly using transmitters for marine defense and for aviation purposes. The government mandates certain transmitters for civil aircraft purposes spurs up the emergency beacon transmitter market demand among the regions. Some of the Asia Pacific regions grow at an influential rate during the assessment period with a high CAGR with the upgrowth in aviation security parameters which has been put forward in different developing regions.
The market players playing in the emergency beacon transmitter market are SCR Electronics Inc. of the United States, SERP IESM of France, McMurdo Group of the United States, Onstrumar Ltd of Canada, HR Smith Group of the United Kingdom, ACK Technologies of the United States, Cobham Plnx of the United Kingdom, and many more. These key vendors are calmly spending much on organic growth strategies like launching new products which will help in strengthening their position globally. These key vendors were actually highly reliable on naval and air forces throughout the world. The key vendors here are highly reliable on the basis of region, origin, their product diversification, some of the new recent developments, and some of the industrial expertise so present there.
ACR Electronics Inc. in 2018, launched a transmitter of about 406MHz approved the alkalinity frequency transmitter battery used as an emergency transmitter.
From the emergency beacon transmitter market analysis it was marked about the secondary data collection and the key vendors playing a major role in the market. The portfolio of the emergency beacon transmitter market helps in determining the market segmentation. It helps in deriving the global marketing numbers and helped in verifying the top-up and bottom-up approaches. Validation of primary market research took place. The report signifies the overall market scenario and the Engineering processes so carried out which prompted the market size. The report gives details about porter's five analyses and SWOT analysis. The report gives information about research report gives information about the macro and micro aspects of the industry. From report analysis, you could find about the holistic evaluation of the market data. It signifies the restraining factors, the opportunities, driving forces opting up in the market.
Report Attribute/Metric | Details |
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Market Size | USD 145.37 Million (2017) USD 294 Million (2030) |
CAGR | 5.85% (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2018-2022 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | by Type, Services |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | ACR Electronics, Inc. (US), McMurdo Group (US), HR Smith Group (U.K.), Emergency Beacon Corporation (US), Cobham Plc (U.K.), ACK Technologies, Inc. (US), Instrumar Limited (Canada), and SERPE-IESM (France). |
Key Market Opportunities | High installation and maintenance cost and availability of product substitutes such as satellite messengers and satellite phones hinder the growth of this market. \r\n Although, growing demand for Cospas-Sarsat system offer opportunities for market growth during the forecast period. |
Key Market Drivers | Asia-Pacific is estimated to grow at the highest CAGR during the forecast period owing to the increasing aviation security parameters being implemented by major countries in the region. |
A CAGR of 5.85% is expected to characterize the growth in the market in the coming period 2022-2030.
HR Smith Group (U.K.), Instrumar Limited (Canada), Emergency Beacon Corporation (US), McMurdo Group (US), Cobham Plc (U.K.), and ACK Technologies, Inc. (US) are the variables controlling the market.
The region in North America is estimated to have a significant level of sway in the global market.
The need to improve the response time to emergency situations is encouraging market development.
The development of the technical components is expected to gain more importance in the coming period.