2018-2023 Emergency Location Transmitter Market Forecasting Research Report Including: Business outlook, Key players, Market Revenue Size & Share
Emergency Location Transmitter Market report provides emerging opportunities in the market and the future impact of major drivers and challenges and, support decision makers in making cost-effective business decisions. Emergency Location Transmitter Market analyse factors that effect demand for Emergency Location Transmitter, driving factors, trends, and challenges faced by industry vendors, regional analysis, Segment by Type, Applications of whole Emergency Location Transmitter industry.
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Description of Emergency Location Transmitter Market: The emergency location transmitter market was valued at USD 111.43 million in 2017 and is projected to reach USD 147.46 million by the end of 2023, growing at a CAGR of 4.78% over the forecast period of 2018-2023. The scope of the report is limited to the type of transmitters used and the verticals in which they are used. The regions considered in the scope of the report include – North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
During times of emergency, emergency location transmitting devices can be activated so that the search and rescue teams can come to aid. Increasing aviation/maritime disaster and ease of locating the source are driving the emergency location transmitter market.
Increasing Aviation/Maritime Disasters
During incidents such as the Iran Aseman Airlines ATR 72-212 crash in 2018, the Saratov Airlines Antonov An148 crash in 2018, the crash of EgyptAir Flight 804’s in 2016, and the disappearance of Malaysian Airlines MH370 in 2014, search and rescue operations teams were able to narrow down the crash sites with the help of ELT devices. MH370’s disappearance still remains a mystery but the officials were given a possible crash area based on the beacon aboard MH370. Increasing maritime/aviation accidents and increased adoption of this technology by adventure enthusiasts while trekking or skiing are driving the market forward, while penalties for false activations, issues of unregistered products, and strict regulations and guidelines on the standards to be followed may impede the market growth.
Moreover, air traffic is also increasing and has doubled in last 15 years. By 2035, an increase of 19,690 aircrafts is expected, which will also increase air traffic.
Military is one of the largest sectors to adopt ELT. ELT and Search and Rescue Light are carried by elite military forces around the world to locate the exact location of the personnel while on a rescue mission. PLB is also carried by the military to send the GPS location while in danger.
Moreover, countries are spending more and more on military. In 2018, the United States is poised to spend USD 686 billion on defense and military. In 2016, the United States, China, and India were the highest spenders on defense and military and spent USD 1,026 billion, USD 736 billion, and USD 213 billion, respectively.
Thus, with increasing spending on military and with the government focusing more on the safety of its personnel, the spending on emergency location transmitters is bound to increase.
Global Emergency Location Transmitter Market: Manufacturers Segment Analysis (Company and Product introduction, Emergency Location Transmitter Sales Volume, Revenue, Price and Gross Margin):
Emergency Location Transmitter Market report passes on a fundamental overview of the Market including its definition, applications and advancement. Furthermore, the Industry report investigates the ecumenical Major Emergency Location Transmitter Market players in detail. Emergency Location Transmitter Market report gives key bits of Cautiousnessand subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
Reasons to Purchase the Report
The Global demand for Emergency Location Transmitter Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2018 and 2025 compared to a few years ago, signifying the rapid pace of change.
Emergency Location Transmitter Market Historic Data (2012-2018):
- Industry Trends: Status and Outlook.
- Competitive Landscape: By Manufacturers, Development Trends.
- Product Revenue for Top Players: Market Share, Growth Rate, Current Market Situation Analysis.
- Market Segment: By Types, By Applications, By Regions/ Geography.
- Sales Revenue: Market Share, Growth Rate, Current Market Analysis.
Emergency Location Transmitter Market Forecast (2018-2025):
- Market Size Forecast: Overall Size, By Type/Product Category, By Applications/End Users, By Regions/Geography.
- Key Data (Revenue): Market Size, Market Share, Growth Rate, Growth, Product Sales Price.
Emergency Location Transmitter Market Influencing Factors:
- Market Environment: Government Policies, Technological Changes, Market Risks.
- Market Drivers: Growing Demand, Reduction in Cost, Market Opportunities and Challenges.
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In addition, company-to-company comparison (Company benchmarking) and product-to-product comparison (Product benchmarking) are included in the research work. It presents key competitive factors that are vital for companies to excel in challenging market conditions.