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Rising instances of terrorism and geo-political unrest across the globe is likely to boost the demand for Explosive Detection Technologies Market in the future

06-06-2019 09:13 AM CET | Industry, Real Estate & Construction

Press release from: persistencemarketresearch.com

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Rising instances of terrorism and geo-political unrest across

The global demand for explosive detection technologies is expected to increase at a Y-o-Y growth rate of 5.4% in 2016. Global consumption of explosive detection technologies is estimated to be pegged at 41,960 units by the end of 2016 and is expected to increase at a CAGR of 5.2% over the forecast period (2016–2024). In a new report titled “Explosive Detection Technologies Market: Global Industry Analysis and Forecast, 2016–2024”, Persistence Market Research analyzes the global explosive detection technologies market and provides a forecast for the next eight years.

Demand for explosive detection technologies is expected to increase at a significant rate across airports in order to ensure security. Increasing regulations across the globe to enhance security, increasing passenger volumes, upcoming airport construction projects, and increasing terror threat perception are major factors expected to drive the demand for explosive detection technologies worldwide. A growing geo-political unrest in various countries across the globe is also expected to support market growth in the near future.

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Top market players are focusing on obtaining long-term supply agreements for explosive detection technologies for government and other applications, which in turn is expected to increase installation of new devices in various countries across the globe. Development of improvised explosive devices is a major challenge for the explosive detection technologies market. Moreover, explosive detection is a labor intensive process requiring faster screening to avoid significant delays. This factor is likely to restrain the growth of the explosive detection technologies market over the forecast period.

The global explosive detection technologies market is segmented on the basis of Function, Technology, End User, and Region. The Manual segment is expected to expand at a CAGR of 6.1% in terms of value and the Automated segment is expected to expand at the highest CAGR of 8.0% in terms of value over the forecast period. The Bulk Detection segment is estimated to account for a market value share of 57.4% by the end of 2016; while the Trace Detection segment is anticipated to be valued at US$ 2,285.7 Mn by the end of 2016 and is expected to reach US$ 4,154.7 Mn by the end of the forecast period. The Air Transport and Critical Infrastructure segments are estimated to collectively account for over 55% revenue share by the end of 2016.

On the basis of regions, the global explosive detection technologies market has been segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Asia Pacific is estimated to account for over 20% share of the global explosive detection technologies market in terms of value by the end of 2016, projected to expand at a value CAGR of 9.0% over the forecast period. Markets in North America and Europe are estimated to collectively account for over 60% share in terms of value by the end of 2016. North America and Europe are expected to contribute significant revenue share to the global explosive detection technologies market throughout the forecast period.

Key market drivers and trends

Increasing incidence of terror attacks has intensified the focus of security agencies and other high profile establishments – particularly airports – on implementing fool-proof security measures. Governments across the globe are placing greater emphasis on improving security infrastructure, especially at critical establishments such as airports. This is expected to drive growth of the explosive detection technologies market over the forecast period. However, a growing number of improvised explosive devices (IEDs) poses a major challenge for sustained growth of this market.

One of the major trends in the explosive detection technologies market is new product development and launch. Leading market players prefer adopting the strategy of partnerships and contracts to supply explosive detection technologies to various government and non-government bodies.

Market analysis by segmentation

The global explosive detection technologies market is segmented on the basis of Function (Automated, Manual); Technology (Bulk Detection, Trace Detection); and End User (Air Transport, Critical Infrastructure, Ports and Borders, Military and Defense). The Automated segment is estimated to account for a market value share of 44.9% by the end of 2016, reaching a value of US$ 4,468.8 Mn by the end of 2024. The Manual segment is estimated to be valued at US$ 2,957.2 Mn by the end of 2016 and is anticipated to reach US$ 4,765.3 Mn by the end of the forecast period. The Bulk Detection segment is expected to expand at a CAGR of 6.5% in terms of value over the forecast period and the Trace Detection segment is expected to expand at the highest CAGR of 7.8% in terms of value over the forecast period. In terms of value, the Air Transport segment is estimated to witness a Y-o-Y growth rate of 5.7% to 6.7% from 2016 to 2020. The Critical Infrastructure segment is anticipated to increase at an annual average growth rate of 7.3% till the end of 2022.

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Table Of Contents

1. Explosive Detection Technologies Market - Executive Summary

2. Explosive Detection Technologies Market Overview

2.1. Introduction
2.1.1. Explosive Detection Technologies Market Definition
2.1.2. Explosive Detection Technologies Market Taxonomy
2.1.3. Global Industrial Automation & Equipment Market Overview

3. Explosive Detection Technologies Market Analysis Scenario

3.1. Replacement Rate and Lifecycle Analysis
3.2. Pricing Analysis
3.2.1. Pricing Assumptions
3.2.2. Price Projections Per Region
3.3. Explosive Detection Technologies Market Size (US$ Mn) and Forecast
3.3.1. Explosive Detection Technologies Market Y-o-Y Growth
3.3.2. Explosive Detection Technologies Market Absolute $ Opportunity
3.4. Market Overview
3.4.1. Value Chain
3.4.2. Profitability Margins
3.4.3. List of Active Participants

4. Explosive Detection Technologies Market Dynamics

4.1. Drivers
4.1.1. Supply Side
4.1.2. Demand Side
4.2. Restraints
4.3. Market Trends
4.4. Opportunities
4.5. Forecast Factors – Relevance and Impact

5. Explosive Detection Technologies Market Analysis and Forecast By Function

5.1. Introduction
5.2. Explosive Detection Technologies Market Size and Forecast By Function
5.2.1. BPS Analysis, By Function
5.2.2. Y-o-Y growth comparison, By Function
5.3. Market Size (US$ Mn) and Volume (Units) Forecast By Function
5.3.1. Automated
5.3.2. Manual
5.4. Explosive Detection Technologies Market Attractiveness Analysis By Function

6. Explosive Detection Technologies Analysis and Forecast By Technology

6.1. Introduction
6.2. Explosive Detection Technologies Market Size and Forecast By Technology
6.2.1. BPS Analysis, By Product Type
6.2.2. Y-o-Y growth comparison, By Product Type
6.3. Market Size (US$ Mn) and Volume (Units) Forecast By Technology
6.3.1. Bulk Detection
6.3.1.1. X-ray
6.3.1.2. Infrared
6.3.1.3. Electromagnetic
6.3.1.4. Others
6.3.2. Trace Detection
6.3.2.1. Optical
6.3.2.2. Non-optical
6.3.2.3. Biosensors
6.3.2.4. Others
6.4. Explosive Detection Technologies Market Attractiveness Analysis By Technology

7. Explosive Detection Technologies Analysis and Forecast By End User

7.1. Introduction
7.2. Explosive Detection Technologies Market Size and Forecast By End User
7.2.1. BPS Analysis, By Sales Channel
7.2.2. Y-o-Y growth comparison, By Sales Channel
7.3. Market Size (US$ Mn) and Volume (Units) Forecast By End User
7.3.1. Air Transport
7.3.2. Critical Infrastructure
7.3.3. Ports and Borders
7.3.4. Military and Defense
7.4. Explosive Detection Technologies Market Attractiveness Analysis By End User

8. Explosive Detection Technologies Market Analysis and Forecast By Region

8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis By Region
8.1.2. Y-o-Y Growth Projections By Region
8.2. Market Size (US$ Mn) Forecast By Region
8.2.1. North America
8.2.2. Latin America
8.2.3. Europe
8.2.4. Asia Pacific
8.2.5. Middle East and Africa (MEA)
8.3. Market Attractiveness Analysis By Region

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Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

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