Man Overboard Devices Market to receive overwhelming hike in Revenues by 2025

“Man Overboard!’’ is a call to alert crew members about a casualty and initiate the immediate recovery procedure. Man overboard is an emergency situation, wherein, in an incidence of bad weather or rough sea, crew members can drown or can suffer from hypothermia due to the cold temperature of the water. A man overboard device can be worn by an individual who can activate it manually, or it can be activated automatically by someone who is overboard. It sends off alert signals at the designated station on the occasion of any untoward incidence. It is a part of personal notification system comprising a base station and one or more designated stations. Man overboard devices available nowadays are smaller in size, are more reliable, and better integrated as it is crucial to locate and recover the overboard person without any loss of time.

The global man overboard devices market is primarily driven by increasing world trade and growing marine traffic in the marine industry. Rise in need for identification and tracking of vessels and increase in safety and security concerns are the key factors driving the man overboard devices market. The impending need for effective traffic management is anticipated to fuel the man overboard devices market. Furthermore, increase in government foothold and investments in integrating the system into vessels is projected to create lucrative opportunities for the expansion of the market. However, high cost of technology is expected to hamper the growth of man overboard devices market.

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Based on technology, the man overboard devices market can be segmented into Automatic Identification System (AIS), Personal Locator Beacons (PLB), and others. Automatic identification systems assist in detecting the location of vessels by exchanging data between various nearby vessels, satellites, and automatic identification system base stations. They are tracking system used in ships by the Vessel Traffic Services (VTS). Personal locator beacons are emergency radio devices with a two-way voice communication facility, either worn by crew members on their body or carried in their survival kit. They are capable of providing homing signals to assist search and rescue operations, applicable to shipping and lifeboats at terrestrial systems.

In terms of application, the man overboard devices market can be segmented into marine, military, aviation, and others. Amongst these, the marine industry is expected to have a significant share of the man overboard devices market. Man overboard devices are used in collision avoidance, vessel traffic services, maritime security, search and rescue, environment rescue, and accident investigation in the marine sector. These devices cover broad range of applications from mountings over large vessels, small vessels, and life boats. Additionally, they are used in the leisure industry (recreation, entertainment, sports, and tourism) where high rate of man overboard casualties is observed.

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In terms of geography, the man overboard devices market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America is expected to constitute key share of the global man overboard devices market during the forecast period. High maritime security awareness for adoption of man overboard devices is the driver of the market in the region. Asia Pacific is anticipated to be a leading man overboard devices market due to the development of marine transportation in this region.

Key players operating in the global release coatings market include ACR Electronics, Inc., Mcmurdo Group, Emergency Beacon Corporation, Kongsberg Gruppen, Saab AB, and ORBCOMM Inc.