The search and rescue equipment market is projected to grow from an estimated USD 113.62 Billion in 2017 to USD 125.66 Billion by 2022, at a CAGR of 2.03% during the forecast period, 2017 to 2022. The growth of the search and rescue equipment market across the globe can be attributed to the increasing demand to develop safety equipment and rise in the number of search and rescue operations.

The search and rescue equipment market has been segmented on the basis of application, equipment, platform, and region. Based on application, the search and rescue equipment market has been segmented into combat and urban SAR. The urban SAR segment is projected to lead the search and rescue equipment market owing to the increased usage of search and rescue equipment for urban SAR operations. In the urban segment the SAR equipment is mostly used to locate, extricate and to provide initial medical aid to victims trapped in structural collapses during natural calamities.

Based on equipment, the search and rescue equipment market has been segmented into rescue equipment, search equipment, communication equipment, technical equipment, medical equipment, logistics equipment, and planning equipment, among others. The search equipment segment is expected to grow at the highest CAGR in the search and rescue equipment market during the forecast period, owing to the increasing demand for search equipment which is derived from the requirement of the equipment in SAR operations wherein, search equipment is used to locate survivors during rescue operations.

The search and rescue equipment market has been studied for North America, Europe, Asia-Pacific, and Rest of the World (RoW). The North American region is estimated to be the largest market for search and rescue equipment in 2017. Countries, such as the U.S. and Canada in the North American region are witnessing an increasing demand for combat search and rescue equipment. The search and rescue equipment markets in the European and Asia-Pacific regions are also expected to witness high growth, owing to the rapid modernization and upgradation of search and rescue equipment by governments of various countries in these regions.

Limited government spending on search and rescue services is restraining the growth of the search and rescue equipment market, as also, search and rescue being a service, does not give returns. Furthermore, lack of skilled manpower acts as a challenge for the growth of the search and rescue equipment market.

Major companies profiled in the report include 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. In 2017, Contacts, agreements, and new product launches are the key strategies adopted by the leading players in the search and rescue equipment market. These strategies have enabled companies to strengthen their positions in the market.

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