Explosive Detector Market Overview:
Global Explosive Detector Market accounted for $4,531 million in 2016, and is anticipated to reach $8,208 million by 2023, growing at a CAGR of 8.7% from 2017 to 2023. Explosive detector is a device used for detection of certain types and amounts of explosive material by coalescing all data from the operational subsystems and making a decision by a computer as to whether or not an alarm should be activated for subsequent resolution by other explosives-detection equipment or a human operator. Explosives detection technology has long been at the front in the fight against terrorism. Explosive detectors are an integral part of checkpoint and security screening for a wide range of applications.
These detectors offer extremely fast and stable detection with very high selectivity for explosives. They are also very easy to use. These are some key drivers assisting the explosive detector market. Moreover, increase in terrorist activities around the world is expected to accelerate the market. Risk of the failure of the explosive detector and improvised explosives are some of the factors slowing down the market growth. However, government regulations for greater and effective security checking is expected to provide lucrative opportunities to the market.
The global explosive detector market is segmented based on technology, product type, end user, and geography. By technology, the market is bifurcated into trace detector and bulk detector. In 2016, the bulk detector segment dominated the global market, in terms of revenue, and is expected to maintain this trend throughout the forecast period, owing to its high price and user-friendly application.
On the basis of end user, the market is categorized into military & defense, cargo & transport, aviation, public places, and others. The aviation segment dominated the global market, in terms of revenue, and is expected to maintain this trend. North America accounted for the highest revenue share in the global market in 2016, owing to the presence of key companies and high defense spending.
Competitive analysis and profiles of the major market players such as Westminster International Ltd., Analogic Corporation, Chemring group PLC, Flir Systems, Inc., NOVO DR Ltd., L-3 Technologies, Inc., Cobham PLC, Nuctech Company Ltd., OSI Systems, Inc., and Smiths Detection is provided in this report.
- The study provides an in-depth analysis of the global explosive detector market to elucidate the prominent investment pockets.
- Current trends and future estimations are outlined to determine the overall market potential and single out profitable trends to gain a stronger foothold in the market.
- The report provides information about impact analysis and key drivers, restraints, and opportunities.
- The market is analyzed based on various regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
Explosive Detector Market Key Segments
- Trace Detector
- Bulk Detector
By Product Type
- Vehicle Mounted
By End User
- Military & defense
- Cargo & transport
- Public places
- North America
- Rest of Asia-Pacific.
- Rest of Europe
- Latin America
- Middle East
- Westminster International Ltd.
- Analogic Corporation
- Chemring group PLC
- FLIR Systems, Inc.
- NOVO DR Ltd.
- L-3 Technologies, Inc.
- Cobham PLC
- Nuctech Company Ltd.
- OSI Systems, Inc.
- Smiths Detection
The other players in the value chain include (profiles not included in the report):
- Hitachi, Ltd.
- ICx Technologies
- Mistral Security, Inc.
- Scent Detection Technologies