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Rising Security Threats Boost Demand For Advanced Explosive Detectors: Powering Innovation and Expansion in the Explosive Detectors Market by 2025
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Is the Expected CAGR for the Explosive Detectors Market Through 2025?
The market size of explosive detectors has witnessed robust growth over the recent past. Expected to increase from $8.61 billion in 2024 to $9.36 billion in 2025, it will expand at a compound annual growth rate (CAGR) of 8.7%. Factors contributing to the growth experienced in the historical period include heightened incidences of terrorism, escalated usage of explosive detectors in high-risk areas, government regulations promoting improved security, an increase in government investments in the aerospace and defense sector, as well as the surge in population.
What's the Projected Size of the Global Explosive Detectors Market by 2029?
Anticipations are high for the explosive detectors market, as it's projected to experience significant growth in the coming years. The market value is estimated to reach $13.49 billion in 2029, with a compound annual growth rate (CAGR) of 9.6%. This growth during the forecast term is primarily due to investments in security infrastructure, the proliferation of security vendors, high immigration rates, and growing demand for stringent security checks. It also ties closely with the expansion in the cargo and transportation sectors. Key emerging trends during this period comprise automated security equipment, sensor technology enhancements, the surge of wireless devices, trace detectors, and technological innovations in explosive detection.
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Top Growth Drivers in the Explosive Detectors Industry: What's Accelerating the Market?
The escalating worries regarding bomb threats and illicit activities are projected to fuel the expansion of the explosive detector market. Terms like bomb threats and illicit activities point to possible safety hazards and criminal behaviors, requiring the deployment of sophisticated explosive detection systems for public protection and harm prevention. Increased global terrorism, criminality and security breaches are key factors feeding the growing anxiety about bomb threats and illicit activities, thus enhancing the demand for effective detection and preventive mechanisms. In bombing threat events, explosive detectors play a crucial role, expediting the detection of explosive substances and ensuring quick action to avert potential damages. For example, as per the report released in August 2023 by the Bureau of Alcohol, Tobacco, Firearms, and Explosives, a government agency based in the US, higher education institutions encountered 64 bomb threats in 2021. In contrast, in 2022, this figure soared to 353, marking an approximate increase of roughly 450%. Consequently, the surge in worries related to bomb threats and illicit activities is expected to stimulate the explosive detectors market.
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What Are the Key Trends Driving Explosive Detectors Market Growth?
Noteworthy corporations within the explosive detector market sphere are innovating with security automation and real-time threat assessment technologies such as dual-view X-ray scanners. These aim to improve detection skills with more in-depth visualization capabilities, thus reducing the odds of unnoticed threats. The dual-view X-ray scanner operates with two X-ray generators positioned at different angles to concurrently capture twice as many images of scanned items. This increases the potential threat detection by offering a more holistic view, and negates the requirement for multiple scanning rounds. For instance, in October 2022, Smiths Detection, a UK-centric firm specializing in threat detection and screening technologies, introduced the HI-SCAN 7555 DV. This compact dual-view X-ray inspection device affords premium image quality, intelligent display capabilities, and seamless integration with tray handling systems for streamlined scanning in high-threat scenarios. It includes automatic explosive detection, an optional weapon detection feature, and significant cyber threat protection. Besides being light-weight and having a compact design for easy installation, the system offers exceptional steel penetration, superior image resolution, and intelligent display features, aiding quick and accurate differentiation between organic and inorganic substances.
What Are the Main Segments in the Explosive Detectors Market?
The explosive detectorsmarket covered in this report is segmented -
1) By Product Type: Vehicle-Mounted, Robotics, Handheld, Biosensors
2) By Technology: Trace Detectors, Bulk Detectors
3) By End User: Military And Defense, Cargo And Transport, Aviation, Public Places, Other End Users
Subsegments:
1) By Vehicle-Mounted Explosive Detectors: Fixed Vehicle Systems, Mobile Vehicle Systems, Integration with Surveillance Systems, Specialized Vehicles
2) By Robotics Explosive Detectors: Ground Robots, Aerial Drones, Underwater Robots, Collaborative Robots
3) By Handheld Explosive Detectors: Metal Detectors, Trace Detectors, Ion Mobility Spectrometry (IMS) Detectors, Multi-Gas Detectors
4) By Biosensors: Enzyme-Based Sensors, Microbial Sensors, Immunosensors, Nanosensors
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Which Top Companies are Driving Growth in the Explosive Detectors Market?
Major companies operating in the explosive detectors market are Hitachi Ltd., L-3 Technologies Inc., Leidos Holdings Inc., Elbit Systems Ltd., Bruker Corporation, OSI Systems Inc., Smiths Detection Inc., Cobham PLC, Nuctech Company Ltd., Analogic Corporation, American Science and Engineering Inc., Morpho Detection, Kromek Group Plc., Autoclear LLC, Mistral Security Inc., Westminster International Ltd., Scanna MSC Ltd., CEIA SpA, ICx Technologies Inc., InVision Technologies, Pendar Technologies LLC, MS Tech Ltd
Which Regions Will Dominate the Explosive Detectors Market Through 2029?
Asia-Pacific was the largest region in the explosive detectors market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the explosive detectors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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