Portland, OR, March 02, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global avalanche radar market was valued at $1.5 billion in 2021 and is estimated to generate $64.4 billion by 2031, witnessing a CAGR of 46.1% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report Coverage and Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.5 billion |
| Market Size in 2031 | $64.4 billion |
| CAGR | 46.1% |
| No. of Pages in Report | 280 |
| Segments Covered | Type, Component, End-User, and Region |
| Drivers | Surge in incidences of avalanches |
| Government regulations mandating the use of avalanche radar | |
| Opportunities | Increasing demand for avalanche radars from the military and defense sector |
| Restraints | Lack of skilled technical personnel, high price, and less awareness about avalanche radars |
COVID-19 Scenario:
- During the COVID-19 pandemic, the global avalanche radar market experienced negative growth.
- The spontaneous spread of the coronavirus forced numerous sectors to shut down completely, hindering the industry's production levels and supply networks and resulting in a decline in market growth.
- However, the market recovered post the COVID-19 lockdowns, as operations came back to normal.
The global avalanche radar market is analyzed across type, component, end-user, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By type, the long range segment contributed to the largest share of more than two-thirds of the global avalanche radar market in 2021 and is expected to rule the roost during the forecast period. The same segment is projected to witness the fastest CAGR of 46.2% from 2022 to 2031.
By component, the antennas segment contributed to the largest share of nearly two-fifths of the global avalanche radar market in 2021 and is expected to maintain its leadership in terms of revenue during the forecast period. The same segment is projected to witness the fastest CAGR of 46.5% from 2022 to 2031.
By end-user, the weather monitoring segment contributed to the largest share of nearly half of the global avalanche radar market in 2021 and is expected to maintain a noteworthy revenue growth during the forecast period. The government segment, however, is projected to witness the fastest CAGR of 46.5% from 2022 to 2031.
By region, Europe held the major share in 2021, accounting for nearly one-third of the global avalanche radar market and is likely to maintain its dominance during the forecast timeframe. However, North America is likely to show the fastest CAGR of 46.5% during the forecast period. The other provinces studied through the report include Asia-Pacific and LAMEA.
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The key market players analyzed in the global avalanche radar market report include Geobrugg AG, Wyssen Avalanche Control AG, Geopraevent AG, and L.B. Foster Company. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
Key Benefits For Stakeholders:
- This report provides a quantitative analysis of the avalanche radar market outlook, segments, current trends, estimations, and dynamics of the avalanche radar market analysis from 2021 to 2031 to identify the prevailing avalanche radar market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the avalanche radar market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global avalanche radar market trends, key players, market segments, application areas, and market growth strategies.
Avalanche Radar Market Key Segments:
By Type:
- Long Range
- Short Range
By Component:
- Transmitter
- Antennas
- Receiver
- Display
By End-User:
- Military and Defense
- Government
- Weather Monitoring
By Region:
- North America (U.S., Canada, and Mexico)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East and Africa)
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