New York, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Avalanche Radar Global Market Report 2023" - https://www.reportlinker.com/p06486626/?utm_source=GNW
The global avalanche radar market is expected to grow from $1.50 billion in 2022 to $2.23 billion in 2023 at a compound annual growth rate (CAGR) of 48.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The avalanche radar market is expected to reach $10 billion in 2027 at a CAGR of 45.5%.
The avalanche radar market consists of sales of avalanche beacons or transceivers, avalanche airbag systems, avalanche forecasting systems, monitoring services, and avalanche rescue services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Avalanche radar, also known as avalanche detection radar or avalanche transceiver radar, refers to a specialized radar system used for the detection and monitoring of avalanches in mountainous regions.An avalanche is a swift descent of a hill or mountainside covered in snow, ice, and debris.
It is designed to provide early warning signals and assist in search and rescue operations related to avalanches.
Europe was the largest region in the avalanche radar market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in avalanche radar report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of avalanche radars are long-range and short-range.Long-range avalanche radar refers to a distance or range covered by a radar that extends over a significant or extensive span, implying the coverage or reach of a considerable distance or area.
The various components of avalanche radars include the transmitter, antennas, receiver, and display, which are used by various end-users such as the military, defense, government, and weather monitoring.
The increased defense funding is expected to propel the growth of the avalanche radar market going forward.Increased defense funding is when a government or organization allocates a larger budget or resources for defense-related purposes.
Avalanche radars give early warning signals that help alert military personnel, defense installations, and government agencies about potential avalanches in advance, allowing them to take appropriate measures to ensure the safety of personnel and infrastructure. For instance, in May 2021, according to the U.S. Department of Defense, a US-based executive branch department of the federal government, the budget for the defense sector increased by 1.6% in the FY 2022 President’s Budget Request, rising from the FY 2021 enacted amount of $703.7 billion to $715 billion. Therefore, increased defense funding is driving the growth of the avalanche radar market.
The introduction of an avalanche radar is a key trend gaining popularity in the avalanche radar market.Companies operating in the avalanche radar market are introducing new avalanche radars to sustain their position in the market.
For instance, in September 2022, the Indian Army and Defense Geoinformatics and Research Establishment (DGRE), an India-based agency providing intelligent solutions to the Armed Forces, jointly installed the avalanche monitoring radar in North Sikkim.This radar can detect an avalanche in less than three seconds by employing a sequence of short microwave pulses scattered at the target.
The radar is an all-weather solution that covers a two sq/km area and can see through snow, fog, and nighttime conditions, eliminating the need to install additional instruments in risky avalanche-prone areas. Additionally, the radar’s capability to detect landslides further enhances its usefulness in assessing and mitigating multiple regional natural hazards.
In January 2020, Hexagon AB, a Sweden-based technology company with expertise in sensors, software, and autonomous solutions, acquired Geopraevent AG for $3.77 billion. This acquisition signifies Hexagon’s strategic expansion into natural disaster monitoring and mitigation. The acquisition combines domain knowledge, proven technologies, and services with Hexagon’s complementary solutions, offering customers early detection and warning systems. Geopraevent AG is a Switzerland-based producer of autonomous avalanche detection systems and specializes in monitoring and alarm systems for natural disasters.
The countries covered in the avalanche radar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The avalanche radar market research report is one of a series of new reports that provides avalanche radar market statistics, including avalanche radar industry global market size, regional shares, competitors with a avalanche radar market share, detailed avalanche radar market segments, market trends and opportunities, and any further data you may need to thrive in the avalanche radar industry. This avalanche radar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06486626/?utm_source=GNW
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