Explosive Trace Detection Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Explosive Trace Detection Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
Global Explosive Trace Detection Market: Snapshot
The requirement for explosive trace detection is felt over several enterprises including nuclear manufacturing, synthetic compounds, and nanotechnology. The wide application of the global explosive trace detection market has bagged an important role in pushing market demand. Trace identifiers are fit for filtering for the minutest bits of explosive materials.
- The global explosive trace detection market could discover new development scope in different applications, for example business, open security and law requirement, transportation and co-ordinations, and military and barrier. High necessity of identifiers law authorization is anticipated to look good for the global explosive trace detection market. The market gains by the accessibility of continuous 3D color pictures captured with the utilization of explosive trace detection frameworks.
- Vehicle-mounted and handheld frameworks offered in the global explosive trace detection market are anticipated to pull in a ton of demand in the coming years. Expanding awareness about highlights, for example, optical character reader (OCR) and tri-mode activity could swell the need for these frameworks in the global explosive trace detection market.
- But, there sure are factors expected to hamper the advances of the global explosive trace detection market. For example, high maintenance expenses of frameworks could hinder the growth rate. In any case, accessibility of cutting-edge features, for example, incorporated ground penetrating radar (GPR) and GPS utilization in the frameworks are anticipated to keep up the demand in the global explosive trace detection market.
Global Explosive Trace Detection Market: Overview
The global explosive trace detection market is prognosticated to witness a surge in its growth due to the increase in terrorist activities across the world. One of the primary factors augmenting the demand in the global explosive trace detection market could be the growing need to improve security screening procedures. There are a number of government regulations implemented to bring a much needed change in security screening.
However, there are certain factors expected to hinder the progress of the global explosive trace detection market. For instance, expensive maintenance and extortionate costs of systems could slow down the adoption rate in the global explosive trace detection market. Nonetheless, availability of advanced features such as integrated GPS and use of ground penetrating radar (GPR) technology in the systems are foreseen to maintain the demand in the global explosive trace detection market.
Global Explosive Trace Detection Market: Trends and Opportunities
The global explosive trace detection market could find growth opportunities in various applications such as commercial, public safety and law enforcement, transportation and logistics, and military and defense. High requirement of detectors in public safety and law enforcement is predicted to bode well for the global explosive trace detection market. This application could show quicker growth in the global explosive trace detection market. It benefits from the availability of real-time 3D color images obtained with the use of explosive trace detection systems.
Handheld and vehicle-mounted systems offered in the global explosive trace detection market are foretold to attract a whole lot of demand in the coming years. Increasing awareness about features such as tri-mode operation and optical character recognition (OCR) could swell the demand for these systems in the global explosive trace detection market.
Global Explosive Trace Detection Market: Market Potential
Vendors are prophesied to explore new industries which could find applicable use of explosive trace detection systems. Recently, Australian Centre for Research on Separation Science (ACROSS) of the University of Tasmania developed the GreyScan technology supported by industry partner Grey Innovation. The technology is said to be the Australian industry’s achievement in giving the world its first practical detector of homemade explosives. It may be trialed by the U.S. Transport Security Administration (TSA) as part of its aviation security measures. TSA recognizes that the technology fills the capability gap of inorganic explosives trace detection.
Global Explosive Trace Detection Market: Regional Outlook
In 2016, North America exhibited higher growth in the global explosive trace detection market. The presence of leading vendors in the region is projected to set the tone for valuable growth of the North America explosive trace detection market. On the other hand, Asia Pacific could take advantage of increasing government efforts to improve the defense systems of countries. Besides defense, Asia Pacific is witnessing growing uptake of explosive trace detection systems in other industries such as logistics and transportation. Heavy investments made by vendors and building of new facilities in the U.A.E. are forecast to push the explosive trace detection market in the MEA.
Global Explosive Trace Detection Market: Competitive Landscape
The global explosive trace detection market includes top players such as FLIR Systems, Inc., American Science and Engineering, Inc., Smiths Detection, Inc., and Autoclear, LLC. The need to develop innovative solutions is envisaged to compel manufacturers to strongly invest in research and development activities.
Global Explosive Trace Detection Market by Product
- Handheld
- Vehicle-mounted
Global Explosive Trace Detection Market by Application
- Military and Defense
- Transportation and Logistics
- Public Safety and Law Enforcement
- Commercial
Global Explosive Trace Detection Market by Region
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- Japan
- India
- South America
- MEA
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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