LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global explosive detection equipment market is expected to reach to USD 7.28 billion by 2021, growing at a CAGR of almost 9%.
This research report titled ‘Global Explosive Detection Equipment Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global explosive detection equipment market is experiencing a linear growth in the market mainly due to the growing territorial conflicts and rising air passengers. As these factors are building up year over year, it can be expected that defense ministries and other law enforcements agencies of respective nations will resort to the procurement of anti-terrorism systems or detection systems that would ensure the safety of people and help maintain the integrity of nations.
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Technavio’s aerospace and defense research analysts categorize the global explosive detection equipment market into the following segments by product. They are:
- Handheld explosives detectors
- Ground-mounted explosive detection
- Vehicle-mounted explosive detection
Handheld explosives detectors
Handheld explosives detectors are the oldest models of detectors that found its early application in military and paramilitary forces for the detection of landmines and bombs. They are also being used by other private entities in line with their operation or business because of the continuous advancements in the product.
According to Moutushi Saha, a lead defense research analyst from Technavio, “Terrorism has taken different shapes over the years, and there always lies uncertainty with respect to public buildings, schools, waterways, maritime ports, underground subway networks, cargos, and even government buildings that have become more vulnerable to terror attacks. Hence, there exists a need to develop and purchase portable handheld devices that can be carried to any point.”
Ground-mounted explosive detection
The global ground-mounted explosive detection equipment market is expected to experience a linear rise in the growth curve because of the increasing number of airports to support the fast-growing air traffic. Ground-mounted explosive detection equipment includes those that are primarily used in public places for the safety of civilians. It includes explosives detection system (EDS) installed at the entrance of airports, sports events, or any sensitive public points.
“The total number of commercial airports in the world in 2015 was about 17,680, and this number is expected to only increase with emerging economies, like India, planning to build close to 175 new airports within the next 10-15 years. This will augment the demand for explosive detection equipment in the coming years,” says Moutushi.
Vehicle-mounted explosive detection
Vehicle-mounted explosive detection equipment will likely gain prominence in terms of its share during the forecast period owing to the flexibility offered by such systems. Vehicle-mounted explosive detection equipment is mostly used by military and paramilitary forces to detect land mines and bombs. These systems are also used by airport authorities to check the presence of any hazardous substance inside the cargo or private vehicles entering or leaving airport premises.
The top vendors highlighted by Technavio’s research analysts in this report are:
- FLIR Systems
- L3 Technologies
- Smiths Group
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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