Explosive Detection Technologies Market
Global Market Study on Explosive Detection Technologies: Increasing Initiatives toward Aviation Security to Propel Market Growth
Explosive Detection Technologies Market Segmented By Automated, Manual Function with Bulk Detection, Trace Detection Technology
Increasing threats of terrorist attacks (such as mid-air bombings and plane hijacks) over the last few years has increased the focus of security agencies and other high profile establishments, particularly airports, on implementing various security measures.
Attacks such as the terror attack at Brussels airport in March 2016, and the suicide bombing at Istanbul Atatürk Airport in June 2016, have changed the threat perception of the airline industry. Various governments across the globe are now focusing on improving existing security set-ups for airports in their respective countries.
For instance, the Indian government mandated security audits at all airports in the country in August 2016. In May 2012, the Transportation Security Administration (TSA) mandated 100% cargo screening at all airports in the U.S. The European Commission (EC) regulation for risk-based screening for cargo was implemented in August 2013.
These factors are anticipated to have a favorable impact on the explosive detection technologies market over the forecast period of 2019-2029.
Find Out More about the Report Coverage
- Smiths Group plc
- Kromek Group plc
- 3Harris Technologies, Inc.
- 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.
Increasing Terror Threat Perception Worldwide to Boost Demand for Explosive Detection Equipment
Increasing terrorist attacks across the globe, especially in Iran and Syria, has increased terror threat perception, worldwide. Since 2011, there have been seven terrorist attacks across various countries in Europe. More recently, in 2016, terrorist attacks in France on Bastille Day and a separate incident of an attack on a restaurant in Bangladesh are increasing government focus on strengthening counter terrorism infrastructure in their respective countries.
This leads to an increasing demand for advanced explosive detection equipment, with an aim to help negate the threat of attacks. Players in the explosive detection technologies market, are hence, focusing on improving their offerings to cater to the rising demand for effective explosive detection equipment.
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Manufacturers to Focus on Commercialization of Low-cost Devices
Increasing use of improvised explosive devices has led to the use of chemical explosives rather than metal ones. Trained dogs or physical methods, such as gas chromatography coupled with mass spectrometers, electronic detection systems, and electrochemical approaches, among others, are highly sensitive, selective, and expensive.
Development of portable and miniaturized units is expected to reduce the cost of equipment. Thus, developing low-cost devices for detection of chemical explosives in minimum time can offer great opportunities to players in the explosive detection technologies market.
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Mass Spectroscopy for Automatic Detection of Explosive Substances to be Profitable
Strengthening of security has resulted into growing demand for explosive detection systems that can quickly detect samples of explosive ingredients adhered to surfaces of luggage and postal matter. In order to decrease inspection time, companies are introducing mass spectrometry type explosive detection systems in the market.
By combining this explosive detection equipment with conventionally installed X-ray-based detection equipment, inspection of dangerous and explosive substances can be carried out without slowing down the flow of visitors.
This method of inspection is also anticipated to provide high accuracy in detection of dangerous items, and has been identified as a lucrative investment opportunity for manufacturers operating in the explosive detection technologies market.
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Explosive Detection Technologies Market: Structure Analysis
The global explosive detection technologies market is estimated to be highly consolidated. Tier-1 players account for around half of the share of the global explosive detection technologies market. In order to gain a competitive advantage, explosive detection technology providers have channelized their efforts toward new product launches and adoption of acquisition strategies in order to better position themselves in the market. For instance, in September 2019, Smiths Detection launched a new security scanner specifically developed for air cargo screening.
The explosive detection technologies market is growing at a substantial rate, with North America and Asia Pacific accounting for a prominent value share in the global market. The trace detection segment is projected to dominate the global explosive detection technologies market during the forecast period. Growing concerns toward security is expected to be the major factor driving the demand for efficient, reliable, and low-cost equipment over the forecast period.
Key Segments of Explosive Detection Technologies Market
PMR’s report divides the explosive detection technologies market into four significant segments - technology, function, end use, and region. This report offers comprehensive data and information about important market dynamics and growth parameters related to these categories.
Key Questions Answered in Report
- How much is the explosive detection technologies market worth?
The global explosive detection technologies market is estimated to be worth US$ 12.5 Bn between 2021 and 2031.
- What will be the demand outlook?
The global explosive detection technologies market is slated to witness a CAGR of 6.5% between 2021 and 2031.
- What was the last 5 year market CAGR?
The global explosive detection technologies market recorded a CAGR of 5.5% between 2015 and 2020.
- What are the key trends of explosive detection technologies market?
The ongoing trend is that of miniaturized and portable units being developed all across (developed economies, in particular), which help in reducing costs as well as enhancing efficiency. The developing countries are also expected to follow suit soon.
- What is driving the demand for explosive detection technologies?
Growing incidents of geopolitical unrest and terrorist attacks are driving the demand for explosive detection technologies.
- What is the market share of top 5 players?
The top 5 players (Smiths Group plc, Kormek Group plc, 3Harris Technologies, Inc., OSI Systems Inc., and Elbit Systems Ltd.) hold more than 70% of the market share.
- What are the top 5 countries driving demand?
The top 5 countries driving the demand include the US, France, UK, India, and Bangladesh.
- What is North America’s market Outlook?
North America holds a remarkable share with the US leading from the front.
- At what percentage explosive detection technologies market is going to register growth in Europe?
Europe is expected to register growth rate of 5% in the explosive detection technologies between 2021 and 2031.
- What are the key market statistics in Korea and Japan?
Japan and Korea will grow at a moderate rate in the explosive detection technologies market.