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Mine Detection System Market Opportunities 2024-2033 - Size, Growth Analysis, Outlook, Overview
Mine Detection System Market
Mine Detection System Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $7.51 billion In 2028 At A CAGR Of 7.1% :
The mine detection system market size has grown strongly in recent years. It will grow from $5.34 billion in 2023 to $5.7 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to increased causalities from landmines, a rise in military land clearance operations, increased military expenditure, advancements in mine detection system, and increased terrorist activities.
The mine detection system market size is expected to see strong growth in the next few years. It will grow to $7.51 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to increased causalities from landmines, a rise in military land clearance operations, increased military expenditure, advancements in mine detection system, and increased terrorist activities. Major trends in the forecast period include focus on integrating mine detection systems with ai technology, focus on using innovative and cutting-edge technologies, focus on introducing innovative products, focus on research and development and focus on mergers and acquisitions.
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Mine Detection System Market Major Segments
The mine detection system market covered in this report is segmented -
1) By Deployment: Vehicle Mounted, Ship Mounted, Airborne Mounted, Handheld
2) By Application: Defence, Homeland Security
3) By Technology: Radar Based, Laser Based, Sonar Based
4) By Detection Capability: Above Surface, Underground
Key Driver - Surge In Military Land Clearance Operations Boosts Mine Detection System Market
The rise in military land clearance operations is contributing to the growth of the mine detection system market. With increasing security threats and border disputes, there has been a rise in military land clearance operations and the detection of improvised explosive devices and traditional Anti-Tank (AT) mines. For example, as of July 2021, according to the Government of India, the Ministry of defence owns tracts of land of approximately 1.795 million acres for land clearance training operations and other military training. Thus, the rising land clearance operations in defense of mine detection technology are driving the mine detection system market.
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Prominent Trend - Technological Advancements Propel Mine Detection System Market Growth
Technological advancements are a key trend gaining popularity in the mine detection system market. A large number of new and advanced technology is being used to detect landmines and IEDs, such as seismic acoustic sensors, optical sensors, radar technology, electromagnetic sensors, chemical sensors, and others. For instance, in October 2021, South Korea's Defence Acquisition Program Administration (DAPA), produced a man-portable mine detector named PRS-20K system, which is capable of finding both metallic and non-metallic mines.
Mine Detection System Market Players
Major companies operating in the mine detection system market report are BAE Systems Plc, Northrop Grumman Corporation, L3Harris Technologies, General Dynamics Corporation, Raytheon Technologies Corporation, Thales Group, Lockheed Martin Corporation, Israel Aerospace Industries Ltd, Chemring Group Plc, Elbit Systems, Hindustan Aeronautics Ltd, Bharat Electronics Ltd, Bharat Dynamics Ltd, Astra Microwave Products Ltd, Apollo Micro Systems Ltd, Aviation Industry Corporation, Norinco, Japan Ground Self-Defense Force, Hanwha Systems, German Aerospace Center, Novatex, Secutech, Draeger PLMS Limited, ATLAS ELEKTRONIK UK Ltd, Schiebel Corporation, Smith's Detection, EMDION Safety Systems, Defence and Security Equipment International Ltd, Industrial Security and Communication Systems Ltd, No Climb Products Ltd, Rapiscan Systems, MS Technologies, IDenta Corp, ALNPK Consulting, Evolv Technology, Endeavor Robotics, Global Security Technology, Protection Development International Corporation, Embraer, Avibras, Israel Weapon Industries Ltd, Netline Communications Technologies, Plasan Sasa Ltd, Bet Shemesh Engines Ltd, Elbit Systems Ltd, EMTAN KARMIEL LTD.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the mine detection system market in 2023. The regions covered in the mine detection system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Mine Detection System Market Report Structure
3. Mine Detection System Market Trends And Strategies
4. Mine Detection System Market - Macro Economic Scenario
5. Mine Detection System Market Size And Growth
…..
27. Mine Detection System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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