Global Emergency Beacon Transmitter Market To Be Driven At A CAGR Of 6.8% In The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Global Emergency Beacon Transmitter Market Size, Share, Growth, Trends, Scope, Report and Forecast 2023-2028’, gives an in-depth analysis of the global emergency beacon transmitter market, assessing the market based on its segments like vertical, service, type, technology, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2020): USD 182.11 million
The growth of the global emergency beacon transmitter is driven by the rapid digitalisation and technological advancements. The increasing demand for lightweight portable security devices is anticipated to provide growth opportunities for emergency beacon transmitter market.
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Additionally, the demand is further propelled by the integration of signal processing GPS applications for providing accurate surveillance options.
Moreover, the market is likely to be bolstered due to increase in demand for products ensuring high security by tracking and detecting threats. Meanwhile, the integration of technologies such as Internet of Things (IoT) have aided in providing real-time security tracking thereby pushing the growth forward over the forecast period.
Emergency Beacon Transmitter Industry Definition and Major Segments
Emergency beacon transmitter are devices for tracking location of boats, planes, and persons in distress. These devices transmit distress signals upon activation which is detected by non-geostationary satellites.
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Based on vertical, the market can be segmented into:
- Military Aviation
- Civil Aviation
- Merchant Navy
- Navy (Marine Defence)
By service, the industry is categorized into:
- Maintenance Services
- Installation and Design
- Inspection and Managed Services
- Engineering Services
On the basis of type, the industry is segmented into:
- Personal Locator Beacons
- Emergency Position-Indicating Radio Beacons
- Emergency Locator Transmitters
By technology, the market is bifurcated into:
The regional markets for emergency beacon transmitter include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Emergency Beacon Transmitter Market Trends
Regionally, North America and Europe are anticipated to hold a significant share in the global market for emergency beacon transmitters. The demand is driven owing to the increased involvement in military and maritime expedition. The stringent government regulations owing to the security concerns mandates use of emergency beacon transmitter for military, merchant navy, civil aviation, and naval defence sectors.
Meanwhile, Asia Pacific is likely to witness a significant growth over the forecast period. This can be attributed to the rapidly increasing aviation sector in emerging economies such as India. The increasing adoption of security parameters is likely to aid the demand for emergency beacon transmitters in the region, thereby propelling the market growth.
Key Market Players
The major players in the market are ACR Electronics, INC., Mcmurdo Group, HR Smith, Emergency Beacon Corporation, Cobham PLC., and a few others.
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