The global avalanche radar market is expected to witness significant growth by 2031, owing to the rising applications of avalanche radars in the military and defense sectors. Regionally, the Europe region held the largest market share in 2021.
NEW YORK, May 12, 2023 /PRNewswire/ — Global Avalanche Radar Market Forecast Analysis:
As per the report published by Research Dive, the global avalanche radar market is envisioned to generate a revenue of $64,412.5 million and rise at a CAGR of 5.0% over the analysis timeframe from 2022 to 2031.
Segments of the Avalanche Radar Market
The report has divided the avalanche radar market into the following segments:
- Type: long range and short range
- Long-Range – Predicted to have the fastest growth by 2031
The increasing use of long-range avalanche radars for collecting information regarding spontaneous avalanche activity is expected to foster the growth of the market sub-segment over the analysis period. - Component: transmitter, antennas, receiver, and display
- Antennas – Held the largest market share in 2021
The increasing focus on the development of technologically advanced antennas active scanning array antenna systems by leading manufacturers and the increasing utilization of high-frequency structure simulator (HFSS) software in developing antennas are expected to propel the growth of the market sub-segment further. - End-User: military and defense, government, and weather monitoring
- Weather Monitoring – Held the biggest market share in 2021
The increasing use of weather monitoring radars to detect rain droplet motion, its precipitation intensity, estimate its velocity as well as determine its type is expected to augment the growth of the market sub-segment in the coming period. - Region: North America, Europe, Asia-Pacific, and LAMEA
- Europe – Registered the highest revenue in 2021
The increasing use of avalanche radars across the region to respond to broad avalanche forecasting zones across the region, especially under severe weather conditions is expected to drive the regional growth of the market throughout the forecast period.
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Dynamics of the Global Avalanche Radar Market
The growing application of avalanche radars in the military and defense sectors and the increasing use of radar by weather forecasters to improve avalanche prediction are expected to boost the growth of the avalanche radar market over the forecast period. Besides, the rising technological developments in the weather monitoring industry are expected to uplift the growth of the market over the analysis timeframe. However, the high cost of embedding avalanche radar devices in a country’s defense network may hamper the growth of the market throughout the estimated period.
The rising use of avalanche weather and terrorist attack monitoring is expected to create massive growth opportunities for the market during the forecast period. In addition, the increasing integration of various sensors with avalanche radars to enable them for new missions, conditions, and platforms is expected to boost the growth of the market over the analysis period.
Covid-19 Impact on the Global Avalanche Radar Market
The rise of the novel coronavirus has devastated the avalanche radar market likewise, various other industries. This is mainly due to the closure of the industrial sector and the disruptions in the supply chains due to the government-imposed lockdowns over the pandemic. Moreover, the strict federal restrictions and transportation limitations have delayed and stopped the supply of raw materials which further impacted the industrial segment to deliver the final product. All these factors have declined the market growth over the crisis.
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Key Players of the Global Avalanche Radar Market
The major players of the avalanche radar market include
- GEOPRAEVENT AG
- Geobrugg AG
- L.B. Foster Company
- Wyssen Avalanche Control AG
These players are mainly working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to acquire a leading position in the global industry.
For instance, in January 2020, Hexagon AB, a global provider of IT solutions announced its acquisition of Geopraevent AG, a renowned provider of natural hazard monitoring and alarm systems. With this acquisition, Geopraevent would support Hexagon in strengthening its portfolio by providing natural hazard monitoring and alarm solutions to protect human lives.
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What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter’s five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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