Global Explosive Detector Market growing at a CAGR of 8.8 % from 2023 to 2030
Category : Aerospace and Defence | Published Date : May 2023 | Type : Press Release
Key Market Overview
The explosive detector market is poised for strong expansion and is projected to reach USD 14,207.53 Million by 2030. The market was sized at USD 7,370.88 Million in 2022 and is predicted to grow at a compound annual growth rate of 8.8% during the period 2023-2030.
The report highlights the increasing adoption of explosive detectors owing to rising terrorist activities including bombings and attacks. Consegic Business Intelligence provides an inclusive research report on the explosive detector market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Explosive Detector Market By Overview
The report analyses significant segments such as product type, technology, end-user, and region, to identify emerging trends and potential opportunities. The biosensor segment is expected to grow during the forecast period as the sensors deploy biomimetic recognition elements that exhibit high affinity and specificity towards target analytes, resulting in exceptional sensitivity. In addition, biosensors also detect explosives at extremely low concentrations, including trace amounts further driving the growth of the explosive detectors market.
Get Free SampleMarket Dynamics
Driver:
- Rising terrorist activities including bombings and attacks across the globe are propelling the growth of the explosive detector market.
- The increasing demand to enhance airport security for ensuring the safety of passengers and prevent potential attacks is driving the growth of the market.
- The ability of the detectors to enable real-time identification of the explosives along with offering improved safety is accelerating the market growth.
Restraints:
- The increasing number of cyber threats reduces the reliability of explosive detection systems, thus restraining the market growth.
- The inability of the explosive detection system to deliver accurate results leading to false positives or false negatives is hampering the growth of the market.
Market Segmentation:
| Report Attributes | Report Details |
| By Product Type | Handheld, Vehicle-Mounted, Robotics, Biosensors, and Others |
| By Technology | Trace Detector and Bulk Detector |
| By End-User | Cargo & Transport, Military & Defense, Aviation, Public Places, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The landscape for Explosive Detector Market is highly competitive with major players American Science & Engineering, Inc., Analogic Corporation, Chemring group PLC, and Flir Systems, Inc. that have a strong market position in current market circumstances. Further, the Explosive Detector market is expected to witness significant growth in coming years owing to the increasing adoption of Explosive Detector in the aviation industry to enhance the safety of passengers and aircraft. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in the explosive detector market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- American Science & Engineering, Inc.
- Analogic Corporation
- Chemring group PLC
- Flir Systems, Inc.
- Implant Sciences Corporation
- L-3 Communications Holdings
- MS Technologies Inc.
- NOVO DR Ltd.
- Smiths Detection Group Ltd.
- Westminster International Ltd.
