PUBLISHER: Allied Market Research | PRODUCT CODE: 1239543
PUBLISHER: Allied Market Research | PRODUCT CODE: 1239543
The global rockfall radar market is envisioned to garner $285.6 million by 2031, growing from $126.6 million in 2021 at a CAGR of 8.5% from 2022 to 2031.
Rockfall radar is used for detecting and tracking rockfall hazards automatically in real-time and in any weather such as snowfall, heavy rains, etc. It can offer wide area coverage for assessing potential rockfall-prone areas. Rockfall hazards can cause serious injuries to people as well as damage infrastructure. Hence, mitigating rockfalls is very important. Rockfall radars help in detecting potential rockfall hazards. The growth in the rockfall radar market is primarily attributed to the increase in rockfall incidences at mining sites. The possibility of rockfalls grows because of bedding, weak rock, blast damage, joints, vehicle vibrations, extreme weather, poor design, etc. Rockfalls hazard is a major safety concern in open-cut mines and can threaten the life of miners as well as jeopardize the productivity of mining operations. Rockfall radar helps in mitigating such hazards.
Rockfall radars are relatively more expensive than conventional rockfall mitigation techniques. Apart from this, there is less awareness about its benefits for the mitigation of rockfalls in developing regions. These factors may hamper the rockfall radar market growth during the forecast period.
Strict regulations for the safety of mining workers are expected to offer ample growth opportunities in the upcoming years. Numerous government authorities have established rigorous protection measures for the safety of the workers in reaction to growing rockfall disasters at open pit mining operation sites. Owing to this factor, expenditure on the safety of the mine workers is expected to increase, ultimately benefitting the rockfall radar market.
The COVID-19 outbreak stopped business activities around the world, as countries imposed various measures such as the limitation on transportation, social distancing, stringent lockdowns, etc. The pandemic has adversely affected the rockfall radar market. Business shutdowns hampered manufacturing functions as well as logistics activities, which disrupted the supply chain network. The rockfall radars are primarily administrated at rock-cut highways. The drop in the level of roadway traffic impeded the market prospects of rockfall radar as the highway operators reduced their operation, safety, and maintenance expenditure.
The key players profiled in this report include: Hexagon AB, SkyGeo, TERRASIGNA, TRE ALTAMIRA, Canary Systems, GroundProbe, Geomotion Australia, Geobrugg AG, and others.