Emergency Beacon Transmitter Market Worth 175.4 Million USD by 2020
PUNE, India, February 19, 2016 /PRNewswire/ --
According to a new market research report "Emergency Beacon Transmitter Market by Vertical (Military Aviation, Merchant Navy), Service (Engineering, Maintenance), Type (Personal Locator Beacons, Emergency Locator Transmitters), Technology (Analog, Digital) and Geography - Global Forecast to 2020", published by MarketsandMarkets, the global market is expected to reach USD 175.4 Million by 2020, at a CAGR of 5.6% from 2015 to 2020.
Browse 46 market data Tables and 54 Figures spread through 93 Pages and in-depth TOC on "Emergency Beacon Transmitter Market"
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Regulatory mandates, global coverage, location accuracy, reliable signals, faster response time, and launch of highly reliable beacons operational at 406 MHz frequency are factors driving the growth of the global emergency beacon transmitter market.
"Digital technology plays a key role in the emergency beacon transmitter market"
Digital technology is primarily utilized in beacons operational at 406 MHz frequency. Whereas, analog technology is used in beacons operational at 121.5 MHz and 243.0 MHz frequencies. The digital technology segment commanded the highest market share, followed by the analog technology segment in 2015. This high share is mainly attributed to the fact that digital beacons provide more accurate results in comparison to analog beacons. Moreover, digital beacons possess microprocessors that are required to filter out unnecessary electromagnetic noise.
"Military aviation vertical holds the highest market share in the emergency beacon transmitter market"
The military aviation segment has registered the highest market share in 2015, due to the increasing adoption of emergency beacon transmitters in the military aviation sector and high expenditure made by governments across varied regions to enhance their defense ability. In situations pertaining to transferring of weapons, arms, and ammunitions, if any emergency situation arises, emergency beacon transmitters help military aircraft send signals about its exact location to the earth station; this information is further passed on to the search and rescue teams for necessary action.
"North America has emerged as the leading region with respect to adoption of emergency beacon transmitters"
The North America emergency beacon transmitter market is driven by technological advancements made in the field of emergency beacons, such as GPS-enabled personal beacons and GNSS-equipped beacons, which provide rescuers with accurate information in emergency situations. In 2008, the International Civil Aviation Organization (ICAO) mandated the installation of emergency locator transmitters in both civil and military aircraft in the U.S. Other countries such as Russia have passed stringent regulations owing to the usage of emergency locator transmitters in all types of aircraft. Over the past few years, the emergency beacon transmitter market recovered its growth due to the launch of highly reliable beacons operational at 406 MHz frequency, and its varied advantages such as global coverage, location accuracy, reliable signals, and faster response time.
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Major players in the Emergency Beacon Transmitter Market include ACR Electronics, Inc., McMurdo Group, HR Smith, Emergency Beacon Corporation, Cobham Plc, and ACK Technologies, Inc.
The report provides market trends, overall adoption scenarios, and competitive landscape as well as key drivers, restraints, and opportunities in this market. It aims to estimate the current size and future growth potential of this market across different types, services, end users, and regions. The scope of the report also covers analysis of varied strategies such as new product launches, mergers & acquisitions, partnerships, agreements, and collaborations in the emergency beacon transmitter market.
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