The Global Avalanche Radar Market Anticipated to Generate a Revenue of $22,481.1 Million, Growing at a CAGR of 47.2% from 2021 to 2028Download Sample Reports Overview
The global avalanche radar market size is estimated to be valued at $22,481.1 million by 2028, surging from $1,074.3 million in 2020, at a CAGR of 47.2%.
COVID-19 Impact on the Avalanche Radar Market
During the COVID-19 pandemic, the global avalanche radar market trends is projected to be negatively impacted. Various firms have closed due to a decrease in raw material production. Although the avalanche radar market has risen dramatically in recent years, it has been predicted that it might face a modest fall as a result of the COVID-19 pandemic. This is due to the implementation of curfews by government agencies in most countries, as well as a rise in raw material prices.
Global Avalanche Radar Market Analysis
A surge in demand for avalanche radar, especially from the military and defense sector is expected to drive growth during the forecast period. The Indian army, for example, has bought 20 new avalanche rescue radars from abroad on a priority basis so that it may promptly locate soldiers trapped in snow during natural disasters along the Chinese and Pakistani borders. Moreover, one of the factors leading to the increase in avalanche radar demand is the increased use of radar by weather forecasters to improve avalanche prediction. Extreme weather events such as snow avalanches, fog, and other extreme weather events are becoming more common as climatic conditions change.
Lack of skilled labor for avalanche radar market might restrain the market growth. Moreover, the high cost of investment and increase in raw material prices might be factors affecting the growth of the avalanche radar market.
As a result of the increasing number of technological breakthroughs in the weather monitoring business, the avalanche radar market is expected to reach new heights. Avalanche detection systems typically collect and estimate avalanches using infrared, seismic, or radar signals. By detecting and informing residents, vehicles, and weather forecasts, avalanche radars can help reduce the number of people killed in a given area. Furthermore, government laws requiring the use of avalanche radar are likely to increase the avalanche radar business.
Global Avalanche Radar Market, Segmentation
The global avalanche radar market is segmented based on type, component, end-users, and region.
The type sub-segment is further classified into long range and short range of which the short range sub-segment is projected to generate the maximum revenue during the forecast period and register a revenue of $749.4 million during the forecast period.
Short range radars provide better forecasting in a given area. As a result, the use of short-range radars is predicted to continue to rise during the projection period. Short range radar can be used to determine whether or not an avalanche has been generated by the detonation. Short range radar, unlike long range radar, simply monitors the immediate region beneath the avalanche tower and cannot provide information on avalanche activity further down the course.
The component segment is further divided into transmitter, antennas, receiver, and display sub-segments of which the antennas sub-segment is projected to grow at a faster CAGR during the forecast period and generate a revenue of $9,105.4 million by 2028, growing from $422.6 million in 2020, with a CAGR of 47.80%.
The antenna is one of the most important parts of an avalanche radar. They record the signals and frequencies, and if any unusual frequencies are detected, they warn the forecasters. The performance of an antenna is determined by its capacity to detect the exact direction in which an object is placed.
The end-user segment is further classified into military & defense, government, and weather monitoring. Among these, weather monitoring sub-segment is anticipated to hold the maximum share of the global market revenue and register a revenue of $10,901.1 million during the forecast period.
Avalanche radars are generally utilized in snowy areas for weather forecasting. Avalanche radars detect avalanches and send out alerts to weather monitoring officials via various systems. These aid in alerting trains, drivers, and townspeople to keep away from avalanche-prone areas.
The market for avalanche radar in Europe is anticipated to generate maximum revenue during the forecast time period and reach $6,969.1 million by 2028, with a CAGR of 47.7%.
Avalanches are more common in European countries like Switzerland, Norway, Italy, and others than in other parts of the world. As a result, avalanche radar is in high demand in several European countries. Avalanche radars are also being purchased by European government entities due to their benefits. These factors are said to be driving the market's expansion in this area.
Key Players in the Global Avalanche Radar Market
Some of the leading global avalanche radar market players are
Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.
Porter’s Five Forces Analysis for the Global Avalanche Radar Market:
- Bargaining Power of Suppliers: Avalanche radar market contains fewer players.
Hence, the bargaining power of the supplier is high.
- Bargaining Power of Buyers: Buyers will have low bargaining power, significantly because of fewer players operating in the avalanche radar market. Hence,
the bargaining power of the buyer is low.
- Threat of New Entrants: Companies entering avalanche radar market are adopting technologies like infrasonic sounds to detect avalanches more efficiently. However, new entrants may face multiple new barriers, like legal and government policies.
Hence, the threat of the new entrants is moderate.
- Threat of Substitutes: There are fewer alternate products for avalanche radar.
Thus, the threat of substitutes is moderate.
- Competitive Rivalry in the Market: Due to the presence of limited number of companies,
the competitive rivalry in the market is low.