Press release
Explosive Detection Technologies Market is to Reach US$ 12 Bn by the end of the forecast period of 2022-2029|
Explosive Detection Technologies Market 2022-2029
Explosive detection is widely used at airports, critical infrastructure, borders & ports, and in military & defense to detect explosive materials. Increasing incidents of terrorist attacks and geopolitical unrest are expected to drive the demand for explosive detection technologies across the world. Additionally, government regulations for greater and effective security checking are expected to provide lucrative opportunities to the market.
According to PMR’s recent market study, the explosive detection technologies market growth is projected to progress at a CAGR of 6%, and reach US$ 12 Bn by the end of the forecast period of 2019-2029.
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Key Players:
The report has profiled some of the Important players prevalent in the global like – Smiths Group plc, Kromek Group plc, 3Harris Technologies, Inc., OSI Systems Inc., Elbit Systems Ltd., Chemring Group PLC, Implant Sciences Inc., Guangzhou Skyscanner Electronic Equipment Co. Ltd, Security Electronic Equipment Co., Ltd, Suzhou Aoteng Electron Technology Co., Ltd.and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Explosive Detection Technologies.
Key Takeaways of Explosive Detection Technologies Market Study
North America is expected to retain its dominant position in the global explosive detection technologies market throughout the forecast period in terms of volume as well as value. This can be mainly attributed to increasing investments in advanced explosive detection technologies for existing airports and commercial buildings in the region.
The air transport end use segment is projected to account for a major share in the global explosive detection technologies market during the forecast period, attributable to increased focus of security agencies, particularly at airports, to implement various security measures to counter terrorist attacks.
Grapheme-based spasers easily detect explosive materials, toxic chemicals, and other compounds by molecule characteristic vibrational transitions. Hence, commercialization of graphene is estimated to provide lucrative growth opportunities to players in the explosive detection technologies market.
“Development of portable and miniaturized units, especially in developed regions; and innovation of advanced techniques to reduce costs while improving efficiency of explosive detection systems, are observed to be key trends among manufacturers in the explosive technologies market,” says a PMR analyst.
Explosive Detection Technologies Market: Conclusion
Growing concerns regarding security across airports, malls, and commercial complexes is expected to be the major factor increasing the demand for efficient, reliable, and low-cost explosive detection equipment. Terrorist attack threats and new airport construction activities, worldwide, are the major reasons that will contribute to the growth of the explosive detection technologies market during the forecast period of 2019-2029.
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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Explosive Detection Technologies Market Manufacturers
Explosive Detection Technologies Market Distributors/Traders/Wholesalers
Explosive Detection Technologies Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Major Highlights of the Explosive Detection Technologies Market Report:
The Explosive Detection Technologies Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
The report dives deeper into the market and explains the dynamic factors bolstering market growth.
The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
The report analyzes the Explosive Detection Technologies Market presence across major regions of the world.
It determines the production & consumption capacities and demand & supply dynamics of each regional market.
The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
It provides company overview and SWOT analysis of each of the market players.
Key Questions Answered in This Report.
What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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PersistenceMarketResearch is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
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