According to the business intelligence report titled ‘Global Search and Rescue (SAR) Equipment Market Size study, by Application (Combat & Urban), Equipment (Rescue, Search, Communication, Technical, Medical, Logistics & Planning), Platform (Airborne, Marine & Ground-Based) and Regional Forecasts 2020-2027’, available with Market Study Report, global search and rescue (SAR) equipment market was worth USD 118.3 billion in 2019 and is projected to register 2.03% CAGR over 2020-2027, subsequently reaching a valuation of USD 138.9 billion by the end of the forecast period.
 

Increasing emphasis on human security and rising prevalence of terrorism as well as insurgent activities across the globe are the primary factors driving global search and rescue (SAR) equipment market. Moreover, escalating demand for search and rescue combat equipment in the automotive as well as manufacturing and process industries, coupled with rising product adoption across various battle and military applications are spurring the industry growth.
 

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For those unaware, SAR equipment refers to instruments used for locating and rescuing people in imminent danger or risky situations. The equipment comprises of various types of devices including heavy-duty torch light, first-aid kits, drone quest, and life detector machines among others.
 

Elaborating on the factors hindering global search and rescue (SAR) market expansion, budget restrictions of governments will impede business development throughout the analysis period.
 

Elaborating on the regional outlook, key contributors to the industry growth are North America (U.S., Canada), Europe (Germany, U.K., Spain, France, Italy), Asia Pacific (India, China, Japan, South Korea, Australia), and Latin America (Mexico, Brazil).
 

Industry experts cite that North America search and rescue equipment market is set to amass substantial returns through 2027, owing to growing prevalence of terrorism and insurgent activities.
 

Meanwhile, Asia-Pacific industry is predicted to grow exponentially over the forecast period, on account of growing efforts towards enhancing human security.
 

Rockwell Collins, Inc., Honeywell International, Inc., Garmin Ltd., Textron, Inc., Raytheon Technologies Corp, General Dynamics Corp, Leonardo S.p.A., Elbit Systems Ltd., Thales Group, and Cubic Corp. are the top-tier players influencing global search and rescue equipment market trends.