Contacts and Agreements were the Key Strategies Adopted by Market Players to Enhance Business Prospects in the Search and Rescue Equipment Market From 2012 to 2016
The search and rescue equipment market was estimated at USD 113.62 Billion in 2017 and is projected to reach USD 125.66 Billion by 2022, at a CAGR of 2.03% from 2017 to 2022. This growth is mainly attributed to the increase in demand for the development of safety equipment required to be used in times of distress and rise in the number of search and rescue operations.
Search and rescue equipment is required for various search and rescue operations and across different platforms such as ground-based, marine, and airborne. The key manufacturers of search and rescue equipment profiled in this report are Elbit Systems (Israel), General Dynamics Corporation (U.S.), Honeywell International Inc. (U.S.), Leonardo S.p.A (Italy), Raytheon Company (U.S.), Textron Systems (U.S.), and Thales Group (France) among others. These companies account for a major share of the search and rescue equipment market and have adopted the new product launches strategy to enhance their market shares.
In February 2017, Rockwell Collins, Inc. (U.S.), received a contract from the Canadian Army to provide the Android-based tablet for a military communications solution. In 2016, Rockwell Collins, Inc. (U.S.), signed an agreement with Qinetq Limited (U.K.) to jointly develop the next-generation, multi-constellation open service and secure Global Navigation Satellite System (GNSS) receivers, which have combat search and rescue capabilities.
General Dynamics Corporation (U.S.), another key player in the search and rescue equipment market, entered into a contract with the U.S. Navy in the year 2016. Under this contact, the company is helping the U.S. Navy to modify their High-Frequency (HF) communications for the Navy’s four-channel, AN/USC-61(C) Digital Modular Radios (DMR). In the same year, the U.S. Department of Transportation received the 5,000th CM-300/350 VHF-UHF V2 radio, under the NEXCOM 2 modernization program from General Dynamics Corporation as per the contract awarded in the year 2012.
In 2017, Raytheon Company (U.S.) signed a contract with the U.S. Air Force to supply the Three-Dimensional Expeditionary Long-Range Radar (3DELRR) System. Furthermore, among the many new contracts signed by the company in the year 2016, Raytheon Company (U.S.) signed a contract worth USD 37 million with the U.S. Air Force to provide a new satellite communications technology, which will link tactical users with military leaders in contested environments.
Related Reports:
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
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