NEW YORK, Oct. 15, 2024 /PRNewswire/ -- Report with market evolution powered by AI- The global explosive detection equipment market size is estimated to grow by USD 2.68 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 7.08% during the forecast period. Increase in passenger traffic is driving market growth, with a trend towards emergence of laser spectroscopy detection technology. However, confidence breach due to the sale of counterfeit products poses a challenge. Key market players include Agilent Technologies Inc., Analogic Corp., Autoclear LLC, BAE Systems Plc, Chemring Group Plc, DetectaChem Inc., iSENTECH, Kromek Group Plc, L3Harris Technologies Inc., LASER DETECT SYSTEM LLC, Leidos Holdings Inc., Morphix Technologies, Novatest Srl, OSI Systems Inc., Security Electronic Equipment Co. Ltd., Smiths Detection Group Ltd., Suzhou Aoteng Electron Technology Co. Ltd., Teledyne FLIR LLC, and Westminster Group Plc.
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Explosive Detection Equipment Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
- |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.08% |
Market growth 2024-2028 |
USD 2678.8 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
6.49 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 38% |
Key countries |
US, China, India, France, and UK |
Key companies profiled |
Agilent Technologies Inc., Analogic Corp., Autoclear LLC, BAE Systems Plc, Chemring Group Plc, DetectaChem Inc., iSENTECH, Kromek Group Plc, L3Harris Technologies Inc., LASER DETECT SYSTEM LLC, Leidos Holdings Inc., Morphix Technologies, Novatest Srl, OSI Systems Inc., Security Electronic Equipment Co. Ltd., Smiths Detection Group Ltd., Suzhou Aoteng Electron Technology Co. Ltd., Teledyne FLIR LLC, and Westminster Group Plc |
Market Driver
Laser Detect Systems (LDS) of Israel has introduced a revolutionary explosive detection technology using laser spectroscopy. This portable solution can detect various materials, including explosives, narcotics, chemicals, biological substances, and minerals, through standoff or trace methods, eliminating the need for sampling. The technology integrates multiple spectral analysis and data fusion tools with real-time data collected via a laser beam. It can identify individually manufactured materials, leading to their production source, enhancing source tracking. Background noise, such as black pepper saturation, is eliminated, increasing reliability. This technology's versatility and effectiveness will significantly contribute to the growth of the global explosive detection equipment market during the forecast period.
The Explosive Detection Equipment (EDE) market is experiencing significant growth due to increasing threats from terrorists and other anti-social elements. Fixed systems and robotics are trending in this market for their ability to detect bulk explosives in public places. Safety is a top priority, and EDEs are essential for detecting nitroaromatics, nitrate esters, nitramines, inorganic nitrates, chlorates, and peroxides in military equipment, IEDs, homemade bombs, and conventional military force. LCD/LED screens and LED indicator lights provide real-time results, while Li-Ion batteries ensure uninterrupted operation. EDEs are used to detect explosives in war zones, territorial disputes, and defense and security applications. OSI Systems' Spaser technology and graphene sensors are innovative solutions for detecting TNT, radiological components, chemical components, and biological components in ports, airports, and border control points.
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Market Challenges
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Segment Overview
This explosive detection equipment market report extensively covers market segmentation by
1.1 Hand-held detectors- The Explosive Detection Equipment (EDE) market is experiencing significant growth due to heightened security concerns worldwide. Governments and businesses invest heavily in EDE to ensure safety. Advanced technologies like X-ray systems, metal detectors, and trace detection equipment are driving market expansion. Manufacturers focus on innovation to improve accuracy and efficiency. The market is expected to continue growing, driven by increasing demand for reliable and effective EDE solutions.
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Research Analysis
The Explosive Detection Equipment (EDE) market encompasses a range of technologies designed to detect and identify explosive materials in various sectors. Portable X-ray devices, thermal neutron activation analyzers, and laser spectroscopy are among the advanced technologies used for explosive detection. The growing threat of terrorism has led to a significant increase in demand for EDE in transportation and aviation sectors. Military applications are also a major market for EDE, particularly for vehicle-mounted devices and robotics. EDE is used to detect flammable materials in public spaces, including LCD/LED screen monitors and bulk detection systems. Other technologies include handheld detectors, Spaser, and graphene-based sensors. EDE is essential in securing ports, airports, border control points, and other critical infrastructure from potential threats.
Market Research Overview
The Explosive Detection Equipment (EDE) market encompasses a range of technologies designed to identify and neutralize explosive threats in various sectors. Portable X-ray machines, laser spectroscopy, thermal neutron activation, and ground penetration radar are among the key technologies used for explosive detection. The market is driven by the heightened threat of terrorism, with a focus on transportation and aviation security. Military applications and law enforcement agencies also utilize EDE for defense spending and safety in public spaces. Laser spectroscopy and thermal neutron activation are non-destructive testing methods used for detecting explosives. Robotics and vehicle-mounted devices are used for bomb disposal and bulk detection in public places. Flammable materials, nitroaromatics, nitrate esters, nitramines, chlorates, and peroxides are common explosive components. EDE also includes Li-Ion batteries, LCD/LED screens, and LED indicator lights for user-friendly operation. EDE is essential for detecting IEDs, homemade bombs, and other explosive threats in public places, military equipment, and defense and security applications. War and terrorist activities, as well as anti-social activities, are major drivers of the market. EDE technologies are also used for detecting radiological and chemical components in explosives. Ongoing research in artificial intelligence, Spaser, and graphene is expected to advance the capabilities of EDE in the future. Ports, airports, and border control points are critical infrastructure that require advanced EDE systems for security. The market for EDE is expected to grow significantly due to the increasing demand for safety and security in public places and transportation. The use of EDE in defense and security applications, including military equipment and territorial disputes, is also expected to drive market growth.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio