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Explosive Detection Technology Market Size Forecasted To Achieve 10 Billion By 2029 With Steady Growth
Explosive Detection Technology Market
What Is the Explosive Detection Technology Market Size and Projected Growth Rate?
There has been a significant expansion in the market size of explosive detection technology in the past few years. The market is projected to rise from $7.33 billion in 2024 to $7.82 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.7%. The historical growth can be traced back to rising worries about national security, an increase in the budget for defense and homeland security, growth in the demand for screening technologies, surge in research and development investments, and an increase in the utilization of drones.
The market for explosive detection technology is projected to show robust expansion in the upcoming years, reaching $10 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 6.4%. The anticipated growth within the forecast period is due to factors such as the rise in airport numbers and investments, escalated military and defense expenditures, heightened government initiatives, rising demand for security systems, and the increasing threat of explosive attacks. The forecast period also suggests major trends, such as technological improvements, the merging of artificial intelligence, sensor technology, robotics, and data analytics.
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What Are the Major Segments in the Explosive Detection Technology Market?
The explosive detection technology market covered in this report is segmented -
1) By Technology: Bulk Detection; Trace Detection
2) By Function: Automated; Manual
3) By Application: Transport Safety; Safeguarding Facilities; Other Applications
4) By End Use: Air Transport; Critical Infrastructure; Ports And Borders; Military And Defense
Subsegments:
1) By Bulk Detection: X-ray Inspection Systems; Gamma-ray Detection Systems; Neutron Activation Systems; Ground Penetrating Radar (GPR); Explosive Detection Using Canine-Assisted Detection Systems; Bulk Acoustic Wave (BAW) Sensors; Acoustic and Vibration-Based Detection Systems; Advanced Radar Imaging For Bulk Detection
2) By Trace Detection: Ion Mobility Spectrometry (IMS); Mass Spectrometry (MS); Laser-Induced Breakdown Spectroscopy (LIBS); Surface Enhanced Raman Spectroscopy (SERS); Chemical Ionization Detection; Photoionization Detectors (PID); Field Asymmetric Ion Mobility Spectrometry (FAIMS); Electronic Nose and Sensor Arrays For Trace Detection
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What Are The Driving Explosive Detection Technology Market Evolution?
The escalating international terror incidents are anticipated to stimulate the progress of the explosive detection technology market. Defined as the utilization of violence, intimidation, or threats, often aimed at civilians, with the purpose to attain political, religious, or ideological goals, terrorism is on an upward trajectory due to several factors. These include political instability, ideological fanaticism, social and financial disparity, technological leaps, and persisting geopolitical disputes. Counter-terrorism efforts utilize explosive detection technology to spot and hinder the use of explosives in public areas, airports, and high-risk zones, thereby bolstering safety and security. As an example, data from the Institute for Economics & Peace's 2023 Global Terrorism Index, an organization based in Australia, disclosed that terror attacks have become more lethal in December 2023 with deadly consequences per attack soaring by 26%. In 2022, fatalities per attack escalated to 1.7 from the previous 1.3 per attack in 2021. Hence, the climbing global terrorist activities fuel the expansion of the explosive detection technology market.
Which Firms Dominate The Explosive Detection Technology Market Segments?
Major companies operating in the explosive detection technology market are General Electric Company, Safran SA, L3Harris Technologies Inc., Leidos Holdings Inc., Elbit Systems Ltd., Smiths Detection Group Ltd., Bruker Corporation, Cobham PLC, FLIR Systems Inc., MSA Safety Incorporated, OSI Systems Inc., Chemring Group PLC, Analogic Corporation, Nuctech Company Limited, Rapiscan Systems Inc., American Science and Engineering Inc., Implant Sciences Corporation, Morpho Detection LLC, Autoclear LLC, Viken Detection LLC, Kromek Group PLC, Proengin SA
What Trends Are Expected to Dominate the Acquired Autoimmune Hemolytic Anemia Market in the Next 5 Years?
Leading businesses in the explosive detection technology market are prioritizing the creation of revolutionary solutions like portable trace detection systems to strengthen security in different settings. This small device is engineered to instantly detect the slightest presence of explosive materials, ensuring fast and effective screening in places like airports, border checkpoints, and public gatherings. To cite an example, Pokhriyal, an Indian firm known for making advanced explosive detection systems, introduced NanoSniffer in April 2023. NanoSniffer is a device based on microsensor technology for detecting traces of explosives. Its fast and reliable detection capability makes it suitable for a wide range of uses including airport security, military missions, and public safety.
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Which Is The Largest Region In The Explosive Detection Technology Market?
Asia-Pacific was the largest region in the explosive detection technology market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the explosive detection technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Explosive Detection Technology Market?
2. What is the CAGR expected in the Explosive Detection Technology Market?
3. What Are the Key Innovations Transforming the Explosive Detection Technology Industry?
4. Which Region Is Leading the Explosive Detection Technology Market?
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