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Explosive Trace Detection Market Industry Growth Analysis, Revenue, Business Prospects, Top Manufacturers by 2028
Explosive Trace Detection Market
The development of advanced systems by prominent companies will elevate the market during the forecast period. For instance, in November 2019, FLIR Systems introduced the FLIR Fido X4, the advanced explosive trace detector can be mounted on the FLIR systems Packbot unmanned ground vehicle (UGV). Moreover, the increasing agreements among major companies will spur opportunities for the market in the forthcoming years. For instance, in Feb 2021, Rapiscan Systems, an American specializing in metal detectors and X-ray machines, received TSA air cargo approval for its itemizer 5X trace detector. However, the disrupted aviation industry can simultaneously dampen the demand for explosive trace detection, which, in turn, will restrict the growth of the market.
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Multiple Contracts Won by Smiths Detection for Detection Solutions to Stimulate Growth
Smiths Detection, a leading company in threat detection and screening technologies, announced that it has won several contracts in China. The 151 IONSCAN 600 will be deployed across Qingdao Liuting International Airport, Chongqing Jiangbei International Airport, Shanghai Pudong International Airport, and Kunming Changshui, Lijiang, Pu'er, Dehong Mangshi, Wenshan, and Cangyuan airports, which come under the Yunnan Airport Group. The surging Chinese travelers and booming international tourism have fueled the need for security solutions at airports. The IONSCAN 600 can precisely detect and identify a wide range of commercial, military, and homemade explosives threats. It can also identify illegal and controlled narcotics in just eight seconds. The portable trace device is ideal for explosives trace detection and screening process baggage at airports. It has been approved by the Civil Aviation Administration of China (CAAC). Besides, in November 2017, IONSCAN 600 was granted the Gold Award at the China International Industry Fair in Shanghai. The implementation of detection solutions by Chinese airport authorities will boost the explosive trace detection market growth due to its capabilities to detect accurately.
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Surging Terrorist Activities to Promote Growth
The growing terrorist activities and cross-border conflicts will spur demand for explosive trace detection systems during the forecast period. The surging security concerns will spur opportunities for the market in the forthcoming years. For instance, in August 2020, Delhi police arrested a terrorist with 30 kg of explosives. Similarly, on February 14, 2021, Jammu & Kashmir police recovered a 7 kg improvised explosive device (IED) near Jammu's bus stand. Furthermore, the smuggling of weapons and narcotics will boost the growth of the market. Also, the growing procurement of ETD systems from law enforcement and homeland security agencies can have an excellent impact on the market in the forthcoming years.
Ion Mobility Spectrometry Segment to Account for the Highest Share
Based on product, the market is classified into handheld, portable/ movable, and fixed point/ standalone. The portable/ Movable segment is likely to hold a significant share during the forecast period due to the increasing demand for portable ETDs.
Based on the technology, the market is divided into colorimetrics, ion mobility spectrometry, thermo redox, chemiluminescence, amplifying fluorescent polymer. The ion mobility spectrometry segment is expected to account for a significant share during the forecast period.
Based on the end-user, the market is categorized into defense, commercial, public safety & law enforcement, and others. The defense segment is expected to hold the largest share during the forecast period due to the increasing terrorist activities and cross-border conflicts.
Geographically, the global market is segmented into North America, Europe, Asia-Pacific, The Middle East & Africa, and South America.
Rising Defense Budget to Stimulate Growth in North America
• North America stood at USD 299.7 million in 2020. The growth is attributed to the rising defense budget.
• Asia Pacific is expected to experience a rapid growth rate due to increasing security screening systems in China, India, Japan, and Australia.
• Europe is expected to expand during the forecast period due to major companies such as Smiths Detection Group Ltd., and RS DYNAMICS.
• The Middle East & Africa is expected to account for the largest share during the forecast period due to the increasing defense plans in UAE, Saudi Arabia, Turkey, and Israel.
OEMs to Increase Business through Contracts and Partnerships
Key companies in the market are focused on business expansion through partnerships, contracts, mergers & acquisitions. For instance, in June 2017, OSI Systems, Inc. signed an agreement with Smiths Group plc to acquire the global explosive trace detection (ETD) business for USD 75.5 million.
Moreover, in May 2020, Leidos, an American Defense, Aviation, Information Technology based company, announced the acquisition of the security detection and automation business of L3Harris Technologies, Inc. at USD 1 billion. The increasing development of innovative products such as TANKER from IDenta Corporation and Fido X4 premium handheld ETD by FLIR Systems Inc. will enable speedy expansion of the market.
The Report Lists the Key Companies in the Explosive Trace Detection Market:
• Analogic Corporation (The U.S.)
• Autoclear, LLC. (The U.S.)
• Bruker (The U.S.)
• DetectaChem (The U.S.)
• FLIR Systems, Inc. (The U.S.)
• Leidos (The U.S.)
• Morphix Technologies (The U.S.)
• NUCTECH COMPANY LIMITED (China)
• OSI Systems, Inc. (The U.S.)
• RS DYNAMICS (Switzerland)
• Smiths Detection Group Ltd. (The U.K)
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