Global Market Study on Explosive Detection Technologies: Asia-Pacific Anticipated to be the Fastest Growing Market


  • Published On : Sep-2016 |
  • Pages : 189 Pages |
  • Format :

Persistence Market Research (PMR) analyzes the explosive detection technologies market at both global and regional levels over an eight year forecast period (2016–2024) in a newly published report. The report focuses on identifying opportunities in the market and providing updates and insights that affect various segments of the explosive detection technologies market worldwide.

To understand and assess opportunities in this market, the report is divided into key sections namely – by function, by technology, by end user, and by region. The report analyzes and provides detailed insights into the explosive detection technologies market both in terms of market value and market volume over the forecast period. The report also includes an analysis of the key factors that drive and influence the market. Recent trends and opportunities in the explosive detection technologies market are also included to provide clients with specific decision-making insights. The subsequent sections analyze the explosive detection technologies market on the basis of function, technology, end user, and region; and present a forecast for the period 2016–2024.

In the final section of the report, a detailed competitive landscape is included to provide a dashboard view of manufacturers operating in the explosive detection technologies market. The report also offers strategic recommendations to capitalize on growth opportunities in the market and provides company profiles of some of the leading market players to enable clients to assess strategies deployed by market leaders and help them develop effective strategies accordingly. 

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Research Methodology

To deduce market size, the report considers various viewpoints based on secondary research. Furthermore, data points such as regional split and market split in terms of function, technology, and end user; and qualitative inputs from industry experts have been considered to arrive at suitable market estimates. The forecast presented in the report evaluates the actual revenue generated and expected revenue in the explosive detection technologies market over the forecast period.

When developing the market forecast, the report begins with sizing the current market, which forms the basis for forecasting how the market is expected to grow during the forecast period. Given the characteristics of the market, the report presents triangulated data on the basis of supply side and demand side analysis and other dynamics of the explosive detection technologies market. However, quantifying the market across the aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them at the end of the forecast period.

In an ever-fluctuating economy, it is important to conduct forecasts not only in terms of CAGR, but also to evaluate data on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and identify growth opportunities for market players. This is an important methodology adopted in this report. Another key feature of this report is the analysis of the explosive detection technologies market and the corresponding revenue forecast in terms of absolute dollar opportunity. Absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve; as well as to identify potential resources from a sales perspective. A market Attractiveness Index helps in easy understanding of key segments in terms of their growth and performance in the explosive detection technologies market to help providers identify existing market opportunities.

The report profiles some of the leading companies operating in the global explosive detection technologies market – Safran SA, Smiths Group plc., L-3 Communications Holdings Inc., Kromek Group plc, OSI Systems Inc., Elbit Systems Ltd., Chemring Group PLC, Implant Sciences Inc., Guangzhou Skyscanner Electronic Equipment Co. Ltd., Security Electronic Equipment Co. Ltd., Suzhou Aoteng Electron Technology Co. Ltd., Kunshan Sanxun Electronics Technology Co. Ltd., Tongfang Weishi Technology Co. Ltd., and Shanghai WeiEn Security Equipment Co. Ltd.

Global sales of explosive detection technologies was valued at US$ 5,090.0 Mn in 2015 and is projected to be valued at US$ 9,234.1 Mn by 2024, expanding at a CAGR of 7.0% in terms of value over the forecast period (2016–2024). The explosive detection technologies market in Asia Pacific is anticipated to be the fastest growing market, registering a CAGR of 9.0% between 2016 and 2024. Rising instances of terrorism and geo-political unrest across the globe is likely to boost the demand for explosive detection technologies significantly.

Key market drivers and trends

Increasing incidence of terror attacks has intensified the focus of security agencies and other high profile establishments – particularly airports – on implementing fool-proof security measures. Governments across the globe are placing greater emphasis on improving security infrastructure, especially at critical establishments such as airports. This is expected to drive growth of the explosive detection technologies market over the forecast period. However, a growing number of improvised explosive devices (IEDs) poses a major challenge for sustained growth of this market.

One of the major trends in the explosive detection technologies market is new product development and launch. Leading market players prefer adopting the strategy of partnerships and contracts to supply explosive detection technologies to various government and non-government bodies.

Market analysis by segmentation

The global explosive detection technologies market is segmented on the basis of Function (Automated, Manual); Technology (Bulk Detection, Trace Detection); and End User (Air Transport, Critical Infrastructure, Ports and Borders, Military and Defense). The Automated segment is estimated to account for a market value share of 44.9% by the end of 2016, reaching a value of US$ 4,468.8 Mn by the end of 2024. The Manual segment is estimated to be valued at US$ 2,957.2 Mn by the end of 2016 and is anticipated to reach US$ 4,765.3 Mn by the end of the forecast period. The Bulk Detection segment is expected to expand at a CAGR of 6.5% in terms of value over the forecast period and the Trace Detection segment is expected to expand at the highest CAGR of 7.8% in terms of value over the forecast period. In terms of value, the Air Transport segment is estimated to witness a Y-o-Y growth rate of 5.7% to 6.7% from 2016 to 2020. The Critical Infrastructure segment is anticipated to increase at an annual average growth rate of 7.3% till the end of 2022.

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Key regions

On the basis of regions, the global explosive detection technologies market has been segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. The Asia Pacific market is projected to be the most attractive market for explosive detection technologies throughout the forecast period, with sales revenues expected to reach US$ 2,390.5 Mn by the end of 2024. Markets in Europe and MEA are anticipated to expand at a value CAGR of 8.2% and 6.3% over the forecast period. Asia Pacific is estimated to account for over 20% share of the global explosive detection technologies market in terms of value by the end of 2016 while the markets in North America and Europe are estimated to collectively account for over 60% share in terms of value by the end of 2016.

Leading market players

Some of the leading companies operating in the global explosive detection technologies market are – Safran SA, Smiths Group plc., L-3 Communications Holdings Inc., Kromek Group plc, OSI Systems Inc., Elbit Systems Ltd., Chemring Group PLC, Implant Sciences Inc., Guangzhou Skyscanner Electronic Equipment Co. Ltd., Security Electronic Equipment Co. Ltd., Suzhou Aoteng Electron Technology Co. Ltd., Kunshan Sanxun Electronics Technology Co. Ltd., Tongfang Weishi Technology Co. Ltd., and Shanghai WeiEn Security Equipment Co. Ltd.

 Company Profiles

  • Safran SA
  • Smiths Group plc
  • L-3 Communications Holdings Inc. 
  • Kromek Group plc
  • OSI Systems Inc. 
  • Elbit Systems Ltd.
  • Chemring Group PLC
  • Implant Sciences Inc.
  • Guangzhou Skyscanner Electronic Equipment Co. Ltd
  • Security  Electronic  Equipment Co., Ltd
  • Suzhou Aoteng Electron Technology Co., Ltd.
  • Kunshan Sanxun Electronics Technology Co., Ltd.
  • Tongfang Weishi Technology Co., Ltd. 
  • Shanghai WeiEn Security Equipment Co., Ltd.
  • Others
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