Technavio has announced the release of their research report on the global explosive detection equipment market for the forecast period 2019-2023. This explosive detection equipment market analysis report segments the market by application (hand-held detectors, ground-mounted screeners, and vehicle-mounted mobile detectors) and geography (APAC, Europe, MEA, and South Americas).
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Technavio has released a new market research report on the global explosive detection equipment market for the period 2019-2023. (Graphic: Business Wire)
Global explosive detection equipment market size will grow by almost USD 3 billion during 2019-2023, at a CAGR of nearly 9%. It is essential for security agencies to regulate and implement preventive security planning for aviation, maritime, air cargo supply chain, and offshore oil and gas transport sectors per global standards. As per the Department of Homeland Security, the use of ammonium nitrate in crafting explosives as a potential security threat that needs to be monitored for ensuring national safety. Hence, the Ammonium Nitrate Security Program was formed to regulate the sale and transfer of ammonium nitrate from a manufacturing facility for the prevention of the misappropriate use of the chemical in acts of terrorism.
The onset of wearable explosive detection equipment
Increasing security standards involves the use of reliable compact and portable IED detection equipment for ensuring effective identification of explosives used in IEDs. Earlier, tracing and detection equipment were bulky, which resulted in the limited scope of application. The advent of wearable sensors is expected to improve their applicability. A significant stride in the wearable sensor technology was witnessed in the last decade. In 2013, scientists developed a sensor capable of detecting low concentration of explosives and chemical in gaseous or liquid forms: the sensitivity of the device was in parts per trillion range.
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"Nearly 35% of the market's growth will come from the APAC region. Countries in this region are strengthening their security screening capabilities with advancement in technologies employed in EDS owing to the rising tension among neighboring countries, particularly the South China Sea dispute. Emerging economies such as China, South Korea, India, and Japan are continuously increasing their defense budgets to strengthen their national security. Therefore, the growing demand for hybrid screening hardware systems from military forces of different countries will augment demand," says an analyst at Technavio.
To increase their explosive detection equipment market share, manufacturers are focusing on AI tools in EDS. Evolv Technology tested its high-speed body scanners at the Union Station in Washington. Companies such as the Smiths Group developed CORSYS which is an AI-driven solution that enables a significant increase in inspection precision.
View a snapshot of the report for a more detailed overview of the market and the segmentation covered in this report
This EDS industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several EDS manufacturers including
- Chemring Group
- FLIR Systems
- L3 Technologies
- Smiths Group
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio's report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
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