New York, USA, April 25, 2023 (GLOBE NEWSWIRE) -- According to the newly published Research Dive report, the global avalanche radar market is anticipated to rise at a stable CAGR of 5.0%, thereby garnering a revenue of $64,412.5 million in the 2022-2031 timeframe. This comprehensive Research Dive report presents a brief outlook of the current framework of the avalanche radar market including its priority features like growth drivers, growth opportunities, restraints, and hindrances during the forecast timeframe of 2022-2031. The report also contains all the crucial market figures to help new entrants understand the market easily.
Dynamics of the Market
Drivers: In recent years, there has been a growth in the applications of avalanche radars in the military and defense sector which is expected to become the primary growth driver of the avalanche radar market in the forecast period. Additionally, strategic collaborations among industry participants are anticipated to push the market forward.
Opportunities: Increased use of avalanche radars for weather forecasting is predicted to offer numerous growth opportunities for the market in the forecast period. Moreover, rising application for avalanche radars for terrorist monitoring is expected to help the market register substantial growth in the coming period.
Restraints: However, according to market analysts, high expenditure on avalanche radars might become a restraint in the growth of the avalanche radar market.
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Impact of Covid-19 on the Market
The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The avalanche radar market, too, was negatively impacted by the pandemic. The lockdowns forced the radar manufacturing industries to halt their operations which led to disruptions in the supply of manufactured goods. This hampered the growth trajectory of the market during the pandemic period.
Segments of the Market
The Research Dive report has fragmented the avalanche radar market across different segments such as form, application, and region.
Type: Long-Range Sub-segment to be the Fastest Growing
The long-range sub-segment is expected to be the fastest growing sub-segment by 2031. The ability to detect even minor avalanches from long distances is predicted to help in the growth of this sub-segment.
Component: Antennas Sub-segment to Witness Significant Growth
The antennas sub-segment is predicted to have a significant market share by 2031. Growing manufacturers' focus on developing technologically advanced antennas such as active scanning array antenna systems for military uses is predicted to boost the growth of this sub-segment.
End-User: Weather Monitoring Sub-segment to be Highly Dominant
The weather monitoring sub-segment was the most dominant sub-segment in 2021 and is expected to continue to dominate by 2031. The increasing use of weather surveillance radars for studying precipitation, estimating its velocity, and determining its type is predicted to help in the growth of this sub-segment.
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Market in the Europe Region to Flourish Immensely
The avalanche radar market in the Europe region is anticipated to grow significantly by 2031. Growing use of avalanche radars for practical avalanche activity monitoring especially in Scandinavian countries like Norway is predicted to be the main growth driver of the market in this region.
Prominent Market Players
Some prominent players in the avalanche radar market are
- Geobrugg AG
- GEOPRAEVENT AG
- Wyssen Avalanche Control AG
- L.B. Foster Company
These players are introducing and coming up with new technological advancements and innovations to gain primacy in the market.
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For instance, in September 2022, the Defence Geoinformatics and Research Establishment (DGRE), a wing of India’s Defence Research and Development Organization, unveiled and installed India’s first avalanche radar in Sikkim. This avalanche radar is developed to detect landslides and avalanches along the LAC and will help the Army to manage its operations accordingly.
Finally, this comprehensive report also summarizes many crucial facets of the avalanche radar market including product portfolio, latest strategic developments, financial performance of the key players, and SWOT analysis.
More about Avalanche Radar Market:
- The Significance of Avalanche Radar Technology in an Era of Climate Change
- Global Avalanche Radar Market to Experience Noteworthy Growth by 2031 with Surge in Occurrences of Avalanches
