EBT Market -Share, Growth, Trends, Covid-19 Impact, And Forecast (2020- 2027)
Market synopsis
According to MRFR, the Global EBT Market is projected to expand from USD 145.37 million in 2020 to USD 227.20 million by 2027, at a 7.73% CAGR over the review period.
Market Highlights
In recent years , the market for EBT Market has experienced tremendous growth due to growing demand for monitoring and detecting threats that allow for high protection. Therefore, the availability of reliable emergency beacon transmitters has led to the growing adoption of these devices in the aviation industry, which, in turn, has contributed to the overall growth of the global EBT Market. There are many advanced devices on the market, such as 406 MHz frequency transmitters, which provide accurate information, optimize search & rescue management and provide real-time emergency monitoring and response through the use of a network of satellites known as Cospas-Sarsat system.
In addition , the increasing need for a faster source of distress signal locator, the rise in aviation / maritime accidents, and government mandates to install emergency locator transmitters in aircraft and naval vessels are some of the factors that are advancing EBT Market growth. In addition, technical advancements with enhanced operational performance, portability and reliability and growing manufacturing emphasis on rising operating costs are further expected to fuel the growth of the demand for emergency beacons transmitters during the forecast period. High deployment and maintenance costs, and product replacement availability such as satellite messengers and satellite phones hamper the growth of this market. Although, rising demand for Cospas-Sarsat system provide opportunities for market growth over the forecast period.
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Segmental Analysis
The market for emergency beacon transmitters is segmented according to type, services, vertical, and region.
The market is segmented into emergency location indicator radio beacons, personal locator beacons, and emergency locator transmitters, based on size.
The market is segmented by services into inspection and management , engineering, maintenance , and others.
The market is segmented vertically into aviation, shipping, military, and others.
The market is segmented, by region, into Europe, North America , the Asia-Pacific and the rest of the world.
Regional Overview
For Europe , North America, Asia-Pacific, and the rest of the world, the regional study of the EBT Market is finished.
From 2018 to 2023, North America followed by Europe is projected to dominate the EBT Market as these regions are seeing rising use of high adoption of beacon transmitters in maritime defence and air force. In addition, government mandates to mount emergency locator transmitters (ELT) in all registered civil aircraft propel the market in these regions for emergency locator transmitters. The main drivers of the market are growth in military aircraft and naval vessels with emergency beacon transmitters and government mandates to mount emergency locator transmitters (ELT) on all registered civilian aircraft.
However, due to the growing aviation security criteria being enforced by major countries in the region, Asia-Pacific is expected to rise at the highest CAGR during the forecast time span. In addition , growing protection parameters in the aviation industry to promote tourism in Africa give potential growth opportunities for the market players in emergency beacon transmitters.
Furthermore, the Middle East & Africa also offers potential growth opportunities due to increase in tourism, which has further occasioned in increasing security parameters in the aviation sector, especially for travelers.
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Key players
The leading players on the market for emergency beacon transmitters were listed across all major regions based on their recent main innovations, country of origin, presence across different regions, product diversification and industry expertise. The major vendors of the market are HR Smith Group (U.K.), ACR Electronics, Inc. (U.S.), McMurdo Group (U.S.), Emergency Beacon Corporation (U.S.), ACK Technologies, Inc. (U.S.), Cobham Plc (U.K.), Instrumar Limited (Canada), and SERPE-IESM (France).
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