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Dave
Quadrant Market Insights (QMI) is a global market research and strategic consulting firm offering syndicated and custom research reports with qualified B2B leads and databases.
The global search and rescue equipment market is to be worth more than USD 215.99 billion by 2033. The ongoing proliferation of terrorist activities coupled with the growing insurgency in developing regions is predicted to enormously support search and rescue equipment market growth. The analysis has represented vast opportunities in the North American region. Along with the rise in domestic terrorist attacks and plots at demonstrations, the government is also investing in safety and rescue equipment. The rising safety and rescue equipment cost is a factor hindering the market growth. For instance, in December 2022, Canada spent $1.24 billion to advance its fleet of military search-and-rescue helicopters , which is about $200 million more than what was initially planned. The government had originally planned $1.03 billion for the project when it was publicized in 2018. Another triggering factor for search and rescue equipment market growth lies in the fact that search and rescue equipment has witnessed technological advancement in terms of integration with AI. For instance, in April 2022, Vodafone Romania and Salvamont launched two digital solutions designed to help quicken search and rescue operations. It involves using photogrammetry and Artificial Intelligence (AI) to capture and analyze geolocated images collected to automatically detect missing victims. A professional drone captures high-resolution images in the search area which is equipped with the necessary technology for photogrammetry and thermal imaging and can travel for up to 5 linear km and can cover an area of 24 hectares, taking between 130 and 300 images in just 30 minutes, reliant on the flight parameters and the resolution of the camera. After download, the photos are sent to be processed, through the steadfast network generated for the rescue mission, to the Salvamont-Vodafone National Data Analysis Centre. The data is analyzed and processed in a few minutes (approx. 100 photos in 2 minutes) by the artificial intelligence automatic detection program SARUAV in the center connected to GigaNetwork FIBER. The system identifies a series of clues, such as a person's figure or coat, and the command center team sends the coordinates where they were spotted to the mountain rescuers. Technological advancements have optimized the search and rescue equipment propelling the market growth, evident from the Global Terrorism Index report. As per the report, in 2021, deaths declined by 1.2% despite global terrorist attacks increasing to 5,226, signifying optimized equipment used in search and rescue operations. The companies operating within the search and rescue equipment industry are undergoing mergers, collaboration, acquisition, long-term contracts, and service agreements to increase their global footprint. For instance, in December 2020, in collaboration with UAVTEK, BAE Systems developed a nano
Dave
Quadrant Market Insights (QMI) is a global market research and strategic consulting firm offering syndicated and custom research reports with qualified B2B leads and databases.
