World Explosive Detectors Landscape Analysed by M&M in Its New Market Research Report Available at MarketPublishers.com
23 Feb 2016 • by Natalie Aster
LONDON – The explosive detectors market size is expected to grow from a value of USD 3.56 billion in 2015 to USD 6.12 billion by end-2020, posting a CAGR of 11.4% over the period. The major factors propelling the growth of the sector include the hike in terrorism alongside with political disturbances in various regions worldwide, various government legislations to improve security screening, as well as surging demand for tighter screening procedures and counter-terrorism activities.
The robotics-based detectors sector is likely to capture the dominant share of the overall explosive detectors market over the forecast period owing to their higher performance and levels of control. Robotics will likely play an essential part in altering the explosive detectors market space. The most recent advances in unmanned systems have significantly boosted the addressable market base of robotics-integrated explosive detectors.
In terms of verticals, aviation is projected to account for the lion’s share of the explosive detectors market by end-2020. The market for explosive detectors in the commercial sector is expected to grow at the highest rate over the next five years. The market is also forecast to see growth in the public places application in the years to come.
The North America region is poised to hold the majority share of the explosive detectors market through to 2020, due to the presence of a sheer number of security vendors. Europe also offers good growth potential in the explosive detectors market. The recent terrorist attacks have limelighted the dynamic nature of the terroristic threat.
Smiths Detection, L-3 Communication, Morpho Detection, Nuctech, and OSI Systems, amid others, are the dominant players in the explosive detectors marketplace.
New cutting-edge research report “Explosive Detectors Market” drawn up by MarketsandMarkets (M&M) offers a 360-degree analysis and forecast of the world explosive detectors market, presenting an exhaustive investigation of the market based on technology, product type, and application. A comprehensive regional market analysis is available, too. The study reviews the factors influencing the growth of the market including drivers, hindrances, challenges, and opportunities. A keen look into the key industry players is given to cast light on their business, product and service offerings, key strategies, new product introductions, M&As, agreements, partnerships, collaborations, and latest developments with respect to the explosive detectors market.
Explosive Detectors Market
Published: February, 2016
Price: US$ 4,650.00
More reports by this publisher can be found at MarketsandMarkets page.