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Search and Rescue (SAR) Equipment Market Set to Total USD 157 Million by 2034 Amid Rising Aging Population Across the Globe | Future Market Insights Inc.

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The SAR equipment market is expanding due to governments’ efforts to modernize and upgrade search and rescue tools. This growth is further driven by increased funding for military and defense sectors, as well as disaster preparedness initiatives. These factors are collectively enhancing the capabilities and effectiveness of SAR operations.

NEWARK, Del., June 20, 2024 /PRNewswire/ — The search and rescue equipment market size is estimated to reach USD 108.2 million in 2024 and grow at a CAGR of 3.8% from 2024 to 2034. Global sales of the equipment are projected to reach USD 157 million by 2034. This increased demand is driven by the transition from traditional lighting to solid-state lighting systems in displays.

Asia Pacific is anticipated to remain the primary market for SAR equipment fueled by its robust manufacturing base and technological prowess. South Korea is estimated to lead the industry with a predicted CAGR of 6% through 2034, while Japan closely follows with an estimated CAGR of 5.4% until 2034.

Land was the leading platform in the industry due to the ease of navigation. In 2023, the land segment accounted for a value share of 43%. Communication dominated the industry based on equipment, holding a market share of 47% in 2023.

The SAR equipment sector is shaped in large part by government financing. With the help of these financial resources, SAR teams will be able to buy cutting-edge technology, directly boosting the market for SAR equipment and increasing demand for high-caliber equipment.

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The development of equipment for specific habitats and landscapes, such as mountains, aquatic bodies, or urban disaster zones, is set to be encouraged by funding designated toward equipment for unique challenges faced by certain geographical places. Robots with artificial intelligence (AI) capabilities can be used in dangerous situations to find survivors, evaluate damage, or transport necessities. AI-enabled drones can cover wide search regions and provide vital information back to the command center, saving time and reducing the chance that people will be exposed to dangerous locations

Innovation and investment in the infrastructure of SAR equipment are expected to be fueled by public and private collaborations between government agencies, nonprofits, and private businesses. In order to keep a firm grip on the market, top companies in the SAR equipment sector are continuously acquiring and partnering with other businesses, leading to a noticeable trend of mergers and acquisitions in the sector. In an effort to innovate and improve the SAR equipment market’s effectiveness and efficiency, companies are continuously spending on research and development. The market for SAR equipment is expected to increase steadily over the next ten years.

Key Takeaways from the Market Report

The SAR market is set to reach USD 157 million by 2034 with a CAGR of 3.8%.By platform, land is leading the global market with a value share of 43% in 2023.Based on equipment, communications accounted for a market share of 47% in 2023.South Korea is estimated to record a CAGR of 6% between 2034 and 2034.Japan will likely hold the dominant position in the global market and show steady growth at a CAGR of 5.4% by 2034.

“Advancements in AI technology is projected to drive significant innovation leadings. This is anticipated to lead to increased efficiency and effectiveness of SAR equipment,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).

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Who’s Winning?

Savox Communications, Shenzhen Hoverstar Flight Technology, Mayday Scandinavian International AB, and other leading businesses are competing for market share in the SAR equipment sector. In the context of the dynamically changing search and rescue (SAR) equipment market, all players are vying for consumer attention.

Manufacturers contest with specialization, innovation, and cost-effectiveness in the dynamic SAR equipment market. They are collaborating with and acquiring start-ups in addition to developing new and enhanced SAR equipment to pool their resources and create cutting-edge SAR solutions. They are also putting more emphasis on certain SAR applications and stressing how crucial practice and training are to successful SAR operations.

Tight certification processes and safety regulations may make it difficult for new competitors to enter the market. In this industry, striking a balance between affordability and superior quality is crucial, particularly in places with limited resources. Businesses are trying to modify their approaches to meet the various rules and specifications of several regions. Technological developments will increase the need for specialist equipment, which are set to further change the market’s competitive environment.

Industry Updates

The National Search and Rescue Center (NSRC), in February 2024, announced that it will be hosting its 3rd Edition of the International Search and Rescue Exhibition (INSRC) 2024, a premier global event focused on featuring cutting-edge innovations and institutional frameworks to advance the field of search and rescue, under the cover of the National Guard Command (NGC).East Sussex Fire and Rescue Service, in May 2024, invited people over the age of 18 to attend a Session, “Have a Go,” at the Eastbourne Fire Station to allow people to gain hands-on experience with tasks and equipment handled by firefighters.

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Get More Insights into the Search and Rescue Equipment Market Report

In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the search and rescue equipment market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the industry potential, growth, and scope, the industry is segmented based on platform (airborne, marine, and land), type (combat, urban, and industrial), equipment (tactical and military kits, survival, signaling, medical, communications, and others), weight (light-weight SKAD and heavy-weight SKAD), and regions.

About Future Market Insights – Industrial Automation

The Industrial Automation division of Future Market Insights offers a novel approach and innovative perspective in analyzing the industrial automation domain. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.

Key Segments of Market Report:

By Platform:

Based on platform, the SAR equipment sector is divided into airborne, marine, and land.

By Type:

By type, SAR equipment is segregated into combat, urban, and industrial.

By Equipment:

Based on equipment, SAR equipment sector is split into tactical and military kits, survival, signaling, medical, communications, and others.

By Weight:

By weight, the sector is segregated into light-weight SKAD and heavy-weight SKAD.

By Region:

Based on regions, the sector is distributed across North America, Latin America, Western Europe, South Asia, East Asia, Eastern Europe, and the Middle East and Africa.

Authored By:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Explore Future Market Insights, Inc. Extensive Coverage in Industrial Automation Domain:

The valuation of the total sales of compact construction equipment in the year 2023 is estimated to be US$ 224.1 billion. The global compact construction equipment market is expected to register a CAGR of 3.8% from 2023 to 2033. Based on the compact construction equipment market analysis report by FMI, it can reach US$ 325.4 billion by 2033.

Sales of mining equipment in Latin America are estimated to be valued at US$ 6,846 million in 2024 amid their growing usage in the construction sector. The industry is projected to surge at a CAGR of 4.7% throughout the forecast period. By 2034, the industry size is set to reach US$ 10,836.9 million.

The global compact power equipment rental market size is anticipated to surpass a valuation of US$ 111,077.4 million in 2023. The expanding market value and a wide range of applications are projected to be the market’s primary growth drivers.

The security and surveillance equipment market is estimated to be valued at USD 19,549.8 million in 2024 and is projected to register a CAGR of 4.8% in the forecast period from 2024 to 2034. The market is projected to reach USD 31,243.2 million in 2034.

The rescue hoist system market is anticipated to flourish at an average CAGR of 3.8% between 2023 and 2033. The market is expected to hold a market share of US$ 845 million by 2033, while the market is likely to reach a value of US$ 581.9 million in 2023.

The global gas detection equipment market size reached USD 3,613.7 million in 2023. Over the forecast period, demand is anticipated to rise at 6% CAGR. The total value is predicted to increase from USD 3,801.1 million in 2024 to USD 6,801.6 million in 2034. The sector is predicted to surge around 1.8X through 2034, amid a 3.5% increase in expected CAGR compared to the historical one.

Commercial refrigeration system market is projected to grow steadily, reaching USD 54.8 billion in 2024. The market is expected to reach USD 87.6 billion by 2034, representing a CAGR of 4.8%.

The global land survey equipment industry value reached USD 6945.9 million in 2023. Over the forecast period, the sector is anticipated to rise at 7.8% CAGR. The sector is predicted to increase from USD 7487.6 million in 2024 to USD 15868.4 million in 2034.

The global construction material testing equipment (CMTE) industry value reached USD 3 billion in 2023. Over the forecast period, the value is anticipated to rise at 4.9% CAGR. The market is predicted to increase from USD 3.3 billion in 2024 to USD 5.3 billion in 2034.

About Future Market Insights Inc. (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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KM Malta Airlines, the Maltese Islands’ New National Carrier, Implements CellPoint Digital’s Payment Orchestration Solution

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September 23, 2024

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The partnership will enable KM Malta Airlines to provide passengers with a seamless payment experience and access to their preferred payment methods.

LONDON, Sept. 23, 2024 /CNW/ — CellPoint Digital, a global pioneer in Payment Orchestration, is proud to announce it has partnered with KM Malta Airlines to support the airline’s payment processes across multiple sales channels, including on its website and App, allowing passengers in future to pay with key alternative payment methods (APMs) like Apple Pay.

From the start of operations on March 31, 2024, CellPoint Digital was entrusted to support KM Malta Airlines’ payment processes across. Using CellPoint Digital’s Payment Orchestration platform, KM Malta Airlines launched the service with optimised payment processes, a cost-effective payment strategy, and a customer-centric payment model. This partnership reflects the airline’s commitment to providing its passengers with a seamless, convenient payment experience and the airline’s recognition of CellPoint Digital as a valued payment solution provider.

Through its partnership with CellPoint Digital, KM Malta Airlines gains access to a network of acquirer connections, including its newly introduced partner, Shift4 (formerly Finaro), to support its growth strategy. This allows the airline to optimise transaction routing, reduce payment costs, and settle in its preferred currency.

“It’s not often that we get to be present at the inception of one of Europe’s next great airlines, but that’s the opportunity we have with this partnership,” said Kristian Gjerding, CEO of CellPoint Digital. “By prioritising its payment strategy as a cornerstone of its launch strategy, KM Malta Airlines demonstrates that it cares about providing passengers with the best possible booking experience and setting itself up for future success.”

Roy Kinnear, CCO of KM Malta Airlines, stated, “A highly optimised, cost-efficient payment strategy is important to the success of our airline. That’s why we partnered with experts in aviation payments to deliver a comprehensive platform tailored to our passengers’ needs and allowing us to expand our offering of customer choice payment mechanisms.”

The Advantage of Day-One Payment Orchestration

Payment Orchestration is a concept that describes the end-to-end management of all components of a payment, from authorisation to routing to settlement to reporting, allowing airlines to boost conversions in direct and indirect sales channels at lower transaction costs. CellPoint Digital’s Payment Orchestration Platform, which KM Malta Airlines will implement, routes transactions intelligently to increase acceptance, simplifies and centralises back-end reconciliation, integrates various payment methods like Apple Pay, and easily accommodates multiple PSPs and acquirers, including KM Malta Airline’s preferred acquiring partner, Shift4.

For more information about the CellPoint Digital partnership with KM Malta Airlines or to speak with company executives, please get in touch with Steven Osei at steven.osei@cellpointdigital.com

About CellPoint Digital
CellPoint Digital is a fintech leader in payment orchestration and optimisation. CellPoint Digital’s main solution is a powerful Payment Orchestration Platform that optimises digital payment transactions from cards or alternative payment methods and accelerates the deployment of new payment options. Merchants can easily scale their own payment ecosystem across the world, unify the customer payment experience across their website, mobile apps and other channels, optimise the routing of each transaction, increase conversion rates and minimise payment costs. CellPoint Digital has offices in Copenhagen, Dallas, Dubai, London, Miami, Pune and Singapore. Visit www.cellpointdigital.com to learn more. 

About KM Malta Airlines

The KM Malta Airlines schedule serves 17 airports across 15 key European cities, namely, Amsterdam, Berlin, Brussels, Catania, Dusseldorf, London Gatwick, London Heathrow, Lyon, Madrid, Milan, Munich, Paris Charles de Gaulle, Paris Orly, Prague, Rome, Vienna and Zurich.

Bookings can be made on kmmaltairlines.com

Contact: media@kmmaltairlines.com

 

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SOURCE CellPoint Digital

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Advantech Unveils Expanded Singapore Office to Boost ASEAN Presence and Support AIoT Innovations with Strategic Partnerships

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September 23, 2024

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SINGAPORE, Sept. 23, 2024 /PRNewswire/ — Advantech (TWSE: 2395), a global leader in industrial IoT and embedded computing solutions, has officially inaugurated its expanded regional office in Singapore. This strategic investment is set to enhance Advantech’s core competencies within the ASEAN region. Located at 7002 Ang Mo Kio Avenue 5, the new office will double the company’s current facility space, enhancing its infrastructure to meet the rising demand for high-technology solutions, particularly in the semiconductor sector. The expansion underscores Advantech’s commitment to collaborating with silicon and ecosystem partners and investing in local talent development through industry-academia partnerships. The new office will also support Advantech’s Configure-To-Order Service (CTOS), reinforcing its strategic goal of deepening and localising industry presence while advancing a comprehensive AIoT industry development strategy.

Vincent Chang, Managing Director of Asia and Intercontinental Region at Advantech, stated, “The relocation to our new premises marks a significant milestone in Advantech’s nearly 30 years of growth in Singapore. Established in 1995, Advantech Singapore has grown to become a pivotal hub in the ASEAN region, leading to the creation of Advantech Malaysia, Thailand, Indonesia, and Vietnam as key regional business units. Advantech envisions Singapore evolving into a Corporate Development Core Competency hub, focusing on business intelligence, strategic planning, and advancing branding, public relations, and ESG programmes across the ASEAN region.”

Advantech is also excited to launch the second year of its AIoT Innowork programme with Singapore Polytechnic (SP). This year’s projects will focus on sustainable development, net-zero emissions, and generative AI. Students will use Advantech’s WISE-PaaS, a cloud-based platform, to develop AIoT solutions, including a smart outdoor agriculture proof-of-concept within SP’s campus. Additionally, the programme will advance intelligent EV charging and parking space monitoring with Advantech’s LoRaWAN gateway and generative AI, featuring a dashboard for carpark occupancy and an assistive chatbot for availability queries.

In response to the government’s focus on future workforce development, a student team from SP is set to create a proof of concept for a “Generative AI-powered Virtual Sales Agent.” This innovative project aims to transform customer interactions by enhancing sales and engagement through cutting-edge AI technology. SP envisions this technology revolutionising customer engagement, enhancing service support, and improving operational efficiency.

Advantech Singapore is dedicated to advancing the “MySkillsFuture” programme, a key initiative by the Singapore government to support lifelong learning. Advantech aims to build a collaborative value chain that fosters a sustainable and thriving IoT ecosystem by partnering with ecosystem players, academic institutions, and industry leaders. Additionally, through academic collaboration, Advantech seeks to cultivate industry growth and align with its social responsibility objectives by producing and distributing urban farming products to underserved communities. These strategic partnerships are poised to drive long-term industry success and reinforce Advantech’s commitment to its ESG goals.

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SOURCE Advantech Co. Singapore Pte Ltd

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Estonia Strengthens Smart Mobility Networking and Strategic Partnerships in the Gulf

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September 23, 2024

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DUBAI, UAE, Sept. 23, 2024 /PRNewswire/ — Trade Estonia, part of Enterprise Estonia, is concluding its participation at the ITS World Congress 2024 in Dubai, further asserting its leadership in intelligent transport systems (ITS) and smart mobility. Estonia, known for being the first country to allow testing autonomous vehicles on public roads since 2017, showcased its innovative technologies that are setting new benchmarks in smart mobility and ITS.

At the exhibition, Trade Estonia displayed pioneering solutions, including Bamboo Apps’ cutting-edge dispatch system for autonomous shuttles, enabling remote monitoring of unmanned vehicles to enhance safety and efficiency. e-Pavement integrates sensors within road surfaces to improve safety and traffic management, while Auve Tech’s autonomous shuttles seamlessly integrate with public transport, offering efficient and eco-friendly urban mobility solutions. Metrosert is enhancing the precision of smart infrastructure, and Digilogistika Keskus is optimising logistics through advanced digital platforms, boosting supply chain efficiency in smart cities.

H.E. The Ambassador of Estonia to the UAE Maria Belovas stated, “Estonia’s footprint in integrating cutting-edge technology is pivotal in enhancing transportation safety, efficiency, and mobility. Our innovations are designed to meet the evolving needs of global smart cities and ensure a sustainable future for transportation.”

These advancements exemplify Estonia’s commitment to developing intelligent, sustainable, and efficient transport solutions that address both urban and rural mobility needs, and solidifying its global network.

In addition to presenting its technological progress at the ITS World Congress, Estonia focused on building meaningful connections and exploring new avenues for collaboration.

Forging Strategic Global Partnerships

Estonia is dedicated to expanding its international impact by building strategic partnerships, particularly in the Gulf region.

A recent networking event, hosted by H.E. The Ambassador of Finland, Ms. Tuula Yrjölä, and H.E. The Ambassador of Estonia, Ms. Maria Belovas, brought together Finnish and Estonian business delegations to cultivate global connections in smart mobility. The event also facilitated valuable discussions on future collaborations, reflecting Trade Estonia’s ongoing mission to support global innovation and sustainability in transport.

Ms. Maria Belovas highlighted the importance of these international connections in advancing the organisation’s strategic goals and enriching global collaborative efforts.

Building on this momentum, Trade Estonia is gearing up for its next significant engagement at GITEX Global 2024. This upcoming event will serve as a new stage for Estonia to underline their technological advancements and explore new avenues for collaboration with global technology leaders.

About Trade Estonia

Trade Estonia is part of Enterprise Estonia. As a state organisation, Trade Estonia helps Estonian companies to establish themselves in international markets. With a focus on future technologies and pioneering projects, Trade Estonia provides Estonian companies with access to market analysis and marketing strategies and creates the conditions for them to operate successfully on a global scale. Trade Estonia not only promotes the development of new business areas and the establishment of strategic partnerships, but also facilitates access to international networks, thus contributing to the global competitiveness of Estonian companies.

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