The global search and rescue equipment market is to be worth more than USD 215.99 billion by 2033.

The ongoing proliferation of terrorist activities coupled with the growing insurgency in developing regions is predicted to enormously support search and rescue equipment market growth. The analysis has represented vast opportunities in the North American region. Along with the rise in domestic terrorist attacks and plots at demonstrations, the government is also investing in safety and rescue equipment. The rising safety and rescue equipment cost is a factor hindering the market growth. For instance, in December 2022, Canada spent $1.24 billion to advance its fleet of military search-and-rescue helicopters ⁠, which is about $200 million more than what was initially planned. The government had originally planned $1.03 billion for the project when it was publicized in 2018.

Another triggering factor for search and rescue equipment market growth lies in the fact that search and rescue equipment has witnessed technological advancement in terms of integration with AI. For instance, in April 2022, Vodafone Romania and Salvamont launched two digital solutions designed to help quicken search and rescue operations. It involves using photogrammetry and Artificial Intelligence (AI) to capture and analyze geolocated images collected to automatically detect missing victims. A professional drone captures high-resolution images in the search area which is equipped with the necessary technology for photogrammetry and thermal imaging and can travel for up to 5 linear km and can cover an area of ​​24 hectares, taking between 130 and 300 images in just 30 minutes, reliant on the flight parameters and the resolution of the camera. After download, the photos are sent to be processed, through the steadfast network generated for the rescue mission, to the Salvamont-Vodafone National Data Analysis Centre. The data is analyzed and processed in a few minutes (approx. 100 photos in 2 minutes) by the artificial intelligence automatic detection program SARUAV in the center connected to GigaNetwork FIBER. The system identifies a series of clues, such as a person's figure or coat, and the command center team sends the coordinates where they were spotted to the mountain rescuers. Technological advancements have optimized the search and rescue equipment propelling the market growth, evident from the Global Terrorism Index report. As per the report, in 2021, deaths declined by 1.2% despite global terrorist attacks increasing to 5,226, signifying optimized equipment used in search and rescue operations.

The companies operating within the search and rescue equipment industry are undergoing mergers, collaboration, acquisition, long-term contracts, and service agreements to increase their global footprint. For instance, in December 2020, in collaboration with UAVTEK, BAE Systems developed a nano "Bug" drone and delivered the first 30 units to the British Army. The Bug developed by UAVTEK and BAE Systems is a nano-Unmanned Aerial Vehicle (UAV) weighing 196g, similar to the mass of a smartphone, with 40-minute battery life and a range of 2km. It vaunts a surreptitious low visual profile and the capability to fly even in sturdy winds of more than 50mph. It was the only nano-UAV that was able to cope with the obdurate weather during an Army Warfighting Experiment (AWE) event hosted by the Ministry of Defence's Future Capability Group.

According to the CXOs and primary research conducted, the rise in terrorist activities coupled with insurgencies in developing or developed regions would aggressively impact search and rescue equipment market growth. The occurrence of a natural disaster also demands the use of search and rescue equipment. According to a report, the approximate global death toll due to a natural disaster stands at 45,000 people annually. In recent decades, a substantial decline in deaths by natural disasters has been observed. In most years, fewer than 20,000 die (in the recent decade, this has often been less than 10,000). Even in peak years with high-impact events, the death toll has not exceeded 500,000 since the mid-1960s, which is credited to the growth and advancement of the search and rescue equipment market.

The search and rescue equipment market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In line with the analyzed region, the North American region will witness the highest market growth, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. The rise in domestic terrorist attacks, the integration of AI with drones, and major industry players within the region are primary factors supporting market potential within the North American region. The major companies operating within the market are Cubic Corporation, Elbit Systems, General Dynamics Corporation, Garmin Ltd, Honeywell International, Leonardo, Raytheon Company, Rockwell Collins, Textron Systems, and Thales Group.