In a recent published report, Kenneth Research has updated the market report for Emergency Beacon Transmitter Market for 2021 till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Emergency Beacon Transmitter Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Market synopsis
Global Emergency Beacon Transmitter market is expected to grow from USD 145.37 million in 2017 to USD 227.20 million by 2023, at a CAGR of 7.73% during the forecast period.Emergency beacon transmitter is a tracking device that is used for detecting and knowing the exact location of the distress signal. In case of emergency situations, the beacon emits a distress signal which assists in detecting the location of boats, aircraft, and people through a non-geostationary satellite. The information thus captures is used by the search & rescue operation teams.
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There is multiple advanced emergency beacon transmitter available in the market such as 406 MHz frequency transmitters. These transmitters provide real-time emergency tracking and faster response time by using a network of satellites. This has further maximized the search and rescue resource management.
Emergency beacon transmitter market, by verticals, is segmented into aviation, maritime, military, and others. The military segment dominates the emergency beacon transmitter market owing to the high expenditure made by governments across varied regions to enhance their marine and aviation ability. Emergency beacon transmitter assists the military know the exact location for conducting search & rescue operation during emergency situations.
The growing need for a faster source of distress signal locator, the rise in aviation/maritime disasters, and government mandates to install emergency locator transmitters in aircraft and naval vessels are some of the factors boosting the growth of emergency beacon transmitter market. However, high installation and maintenance cost and availability of product substitutes such as satellite messengers and satellite phones hinder the growth of this market. Although, growing demand for Cospas-Sarsat system offer opportunities for market growth during the forecast period.
The key players operating in the emergency beacon transmitter market are 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), SERPE-IESM (France). These players are largely investing in organic growth strategies such as new product development to strengthen their position in the global emergency beacon transmitter market. For instance, in 2018, ACR Electronics, Inc. introduced ARTEX ELT 4000, a 406 MHz approved transport-grade alkaline battery-powered emergency locator transmitter.
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Emergency Beacon Transmitter Market
Emergency Beacon Transmitter Market Research Report – Global Forecast till 2023 –
Source: MRFR Analysis
Segmentation
Emergency Beacon Transmitter market is segmented based on type, services, vertical and region.
Based on the type, the market is segmented into personal locator beacons, emergency position-indicating radio beacons, and emergency locator transmitters.
By services, the market is segmented into maintenance, inspection and management, engineering, and others.
On the basis of vertical, the market is segmented into aviation, maritime, military, and others.
By region, the market is segmented into North America, Europe, Asia-Pacific and rest of the world.
Regional analysis
The global market for emergency beacon transmitter is estimated to grow at a notable rate during the forecast period from 2018 to 2023. The geographical analysis of emergency beacon transmitter market is done for North America, Europe, Asia-Pacific, and the rest of the world.
North America followed by Europe is expected to dominate the emergency beacon transmitter market from 2018 to 2023 as these regions are witnessing growing usage of high adoption of beacon transmitters in marine defense and air force. Furthermore, government mandates to install emergency locator transmitters (ELT) in all registered civil aircraft propel the demand for emergency locator transmitters in these regions. However, 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.
Competitive Analysis
The emergency beacon transmitter market has witnessed the high demand from the navy and air force across the world. Key players are launching beacon transmitter that are highly reliable and operational at 406 MHz frequency. For instance, in 2018, ACR Electronics, Inc. introduced ARTEX ELT 4000, a 406 MHz approved transport-grade alkaline battery-powered emergency locator transmitter.
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Key players
The prominent players in the emergency beacon transmitter market have been identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. The major vendors of the market are 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).
Intended Audience
• Software and Solution Providers
• Satellite Communication Equipment Manufacturers
• Satellite Operators
• Satellite Communication Service Users
• Telecom Service Providers
• Application and Software Developers
• Government/Non-profit Associations
• Business Organizations
• Universities and research organizations
• Venture capitalists
• Private equity firms
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