Explosive Detectors Market to Skyrocket to US$ 16.9 Billion with 7.5% CAGR by 2032 - Exclusive Report by Persistence Market Research
Explosive Detectors Ecosystem Poised for Significant Growth as Governments and Private Organizations Invest Heavily in Security Infrastructure
New York , March 29, 2023 (GLOBE NEWSWIRE) -- The global explosive detectors market revenue totaled *US$ 8.2 billion* in 2022. Overall explosive detector sales globally will rise at *7.5% CAGR* between 2023 and 2032. By the end of 2032, the worldwide *Explosive Detectors Market* will reach a valuation of *US$ 16.9 billion*. Adoption of explosive detectors will continue to remain high in military & defense industry. The target segment will thrive at a CAGR of *7.3%* from 2023 to 2032.
Explosive detectors are equipment used to detect explosive materials. These devices mostly find applications at borders, airports, government buildings, etc.
Rising demand for explosive detectors across a variety of industries, including transportation, aviation, and military will drive the global market.
In recent years, increasing terror activities and growing security concerns have promoted various industries to use explosive detectors. Adoption of these detectors at critical checkpoints across airports and stations is significantly reducing the illegal movement of explosive materials.
New technologies such as laser spectroscopy, ion mobility spectrometry, and thermal neutron activation are continuously improving explosive detectors and are generating more accurate results.
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To mitigate the risk of a terrorist attack, governments worldwide are enforcing strict regulations on the use of explosive detectors in public areas and transportation systems. This will act as a catalyst triggering explosive detector sales.
Rise in air travelers worldwide is also fueling demand for security measures, such as explosive detectors in airports. In 2018, there were around 8,117 terrorist attacks around the world. Similarly, in 2020, there were around 10,172 terrorist attacks. To counter this, advanced security solutions such as explosive detectors are being used.
Increasing defense spending as a result of rising security threats will also propel explosive detector demand.
*Key Takeaways from Explosive Detectors Market*
· Global sales of explosive detectors are set to rise at *7.5% CAGR* over the next ten years.
· Based on type, portable explosive detectors category will expand at *7.4% CAGR* through 2032.
· North America explosive detectors market size is likely to exceed *US$ 6.7 billion* by 2032.
· The USA explosive detectors market is forecast to reach *US$ 5.3 billion* in 2032.
· Explosive detector sales in the United Kingdom will total a valuation of *US$ 784.8 million* by 2032.
· South Korea explosive detectors industry is projected to reach *US$ 681.8 million* by 2032.
“*Explosives detectors manufacturing is taking a wild turn as new laws make it mandatory for all security agencies to have a robust infrastructure. In such a scenario, market for explosive detectors will expand significantly, and technologically advanced types will dominate the competition.” *says a lead Persistence Market Research analyst.
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*Who is Winning?*
Leading explosive detector manufacturers profiled in the report include NOVO DR Ltd., FLIR Systems, Inc., Smiths Detection, Cobham PLC, Analogic Corporation, OSI Systems Inc., Chemring Group PLC, L-3 Technologies Inc., Nuctech Company Ltd., and Westminster International Ltd.
These companies are investing heavily in research and development for introducing new products that provide better threat detection. They are also getting new contracts from end users.
*For instance,*
· *In November 2019*, FLIR Systems Inc. launched its new FLIR Fido X4. It is a next-generation handheld ETD (explosives trace detector). It has a true trace technology which includes a new five-channel sensor array that provides expanded threat coverage.
· *In September 2019*, Smiths Detection secured a contract from the Transport security administration (TSA) to provide checkpoint CT systems to TSA to improve the detection of explosive components.
· *In August 2019*, Smiths Detection deployed an integrated X-Ray system that has auto-detection software for explosives and weapons at Harbourfront station during an exercise. It has a unique automated clearance mode and remote screening that detects key threats such as weapons and explosives without human intervention.
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Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the explosive detectors market, presenting historical market data (2017 to 2021) and forecast statistics for the period of 2023 to 2032.
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*The study reveals extensive growth in the explosive detectors market based on *
· *Type* (fixed and portable),
· *Product* (hand held detectors, vehicle mounted, robotics),
· *Offering* (trace detection and bulk detection),
· *End-use industry* (military & defense, governmental infrastructure, aviation, docks, public places, transportation) across various regions.
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