09-14-2017 09:13 AM CET - Advertising, Media Consulting, Marketing Research
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Mechanical Mine Clearance System Market is Poised to Reach US$ 51.7 Mn by 2024-end

Press release from: Persistence Market Research Pvt. Ltd

While the need for safe demining action is gradually becoming a necessity, the world awaits the arrival of affordable mechanical mine clearance systems. Demining action continues to gain traction across the globe, driving the adoption of mechanical mine clearance systems and reducing the casualty incidence rate while planting active landmines. Furthermore, the urgency of clearing landmines for rehabilitation purposes is also prompting the use of mechanical mine clearance systems. Persistence Market Research’s recently published report estimates the global market for mechanical mine clearance systems to be presently valued at US$ 38.2 Mn, and anticipates it to bring US$ 51.7 Mn by the end of 2024.

According to the report, titled “Mechanical Mine Clearance System Market: Global Industry Analysis and Forecast, 2016-2024,” the global market for mechanical mine clearance systems is projected to grow at a moderate pace, registering 3.9% CAGR over the forecast period. Factors that restrain the adoption of mechanical mine clearance systems include:

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The report reveals that in 2016, not more than fifty-five mechanical mine clearance systems were sold in the world, and that this number is expected to reach 71 by 2024-end. These systems are available at an average price per unit of US$ 675,000. So, spending half a million dollars on a demining vehicle serves as a deterrent for active consumption of mechanical mine clearance systems. Regardless, more than 60% of global mechanical mine clearance system market is dominated by costly mine flail systems. The demand for mine flails has been projected to grow in the years to come, while combine mechanical mine clearance vehicles will register revenue growth at more than 4% CAGR.

Seven out of ten mechanical mine clearance systems sold in the world are put to use through manual operation. However, concerns regarding operator’s safety has driven the adoption of robotic or remotely-controlled mechanical mine clearance vehicles, revenues from which are projected to reach US$ 15.9 Mn by 2024-end. The report also identifies Europe as the world’s largest market for mechanical mine clearance systems. With over 40% stake in global revenues, nearly 30 mechanical mine clearance vehicles are expected to be sold in European countries by the end of 2024. Second-in-line is the Middle East & Africa (MEA) region, which will consume over fifteen mechanical mine clearance systems by the end of forecast period.

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Leading manufacturers of mechanical mine clearance systems include Hydrema Holdings ApS, Rheinmetall AG, Armtrac Limited, Aardvark Clear Mine Ltd., Digger DTR – Demining Technologies, CEFA, Way Industries a.s., DOK-ING d.o.o., MineWolf Systems AG, and Scanjack AB.

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About Us

Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.

PMR stands committed to bringing more accuracy and speed to clients’ business decisions. From ready-to-purchase market research reports to customized research solutions, PMR’s engagement models are highly flexible without compromising on its deep-seated research values.

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