Explosive Trace Detection Market Share Analysis, Size, Price Factors, Business Opportunities in 2021 and forecast to 2028
The global explosive trace detection market size is envisaged to gain steady momentum over the next few years due to the rising need of protecting national security against terrorism, finds Fortune Business Insights™, in its report, titled, “Explosive Trace Detection Market Size-2021-2028”.
Increased terror activities worldwide, conflicts, disagreements, and cross-border conflicts would drive the demand for explosive trace detection in the upcoming years. For instance, a report by the Center for Strategic and International Studies published in 2020 states that the U.S. is facing terrorism issues, and it will worsen in the next few years.
To strengthen the nation's security, the usage of ETD detectors dramatically increased since these detectors are used to determine the presence of explosives.
COVID -19 Impact:
The outbreak of the COVID-19 pandemic has brought the world to a complete halt. Regulatory authorities of several countries have implemented stringent social distancing and lockdown measures. Airports and several other crowded places were shut, which reduced the security needs and negatively affected the explosive trace detection industry. Besides, during the pandemic, industries’ production facilities moved towards the manufacturing of hand sanitizers, PPE kits, masks, and ventilator beds to fulfill the high demand from hospitals, front-line workers, as well as common people.
Based on the technology, the explosive trace detection market is fragmented into chemiluminescence, thermo-redox, amplifying fluorescent polymer, mass spectrometry, ion mobility spectrometry, and colorimetric & automated colorimetric. On the basis of type, the market is divided into handheld detectors, table-top detectors, and others. In terms of end-use, the market is classified into military & defense, aviation, cargo & transport, critical infrastructure, and public places. The market has been categorized into North America, Europe, Asia Pacific, and the rest of the world by geography.
Browse In-depth Summary of This Research Insight@ https://www.fortunebusinessinsights.com/explosive-trace-detection-market-104050
Salient Features of the Report:
The report gives insights about drivers and restraints influencing the explosive trace detection industry size, share, and growth. It also identifies all the possible segments present, along with the regional development. It tracks recent mergers, acquisitions, and new product launches. Lastly, it gives information about recent emerging trends that will help to make informed business decisions.
Rising Demand for Security against Crime to Drive the Market Rising crimes, attacks, and terrorist activities across the globe has led various governments to adopt enhanced security screening that is fueling the demand for explosive trace detection systems. Apart from their use in defense, these are also deployed at cargo & transport, and aviation. The aviation sector is promoting the explosive trace detection system because of the rising number of airports worldwide. It is further happening due to the increasing number of passengers. A report by India Brand Equity Foundation published in 2019 states that by the year 2020, traffic at Indian airports will rise and reach up to 421 million from 308.75 million in 2017-18. Thus, the demand for such security equipment will surge in the upcoming years. These are also used at high-risk facilities and government bodies as part of a comprehensive security approach to help protect the citizens and important infrastructure from any major threats. Regional Insights North America to Command the Market due to Presence of Several Key Players in the Region North America is anticipated to hold a significant share in the market due to the presence of several manufacturers of explosive trace detection systems in the region, such as Innovation, OS Systems, etc. Besides, the United States military expenditure in 2019 has increased by 5.3 % from previous year, reports the Stockholm International Peace Research Institute (SIPRI). On the other hand, Asia Pacific is also expected to rise significantly in the market due to increased security concerns by governments as terrorist activity is rising in developing countries of this region, such as India, China, Pakistan, and Bangladesh. Moreover, China and India lists in the top five nations to spend on their security and it would therefore positively promote the market in the region.
Competitive Landscape Key Players Collaborating with Government and Private Security Firms to Strengthen the Market Several companies involved in the manufacturing of explosive trace detection systems are persistently striving to expand their presence and enhance their product portfolios. To do so, they are collaborating with government and private security firms and implementing strategies, such as joint ventures and advanced security system launches. Below mentioned are the two latest industry developments: August 2020: Smiths Group PLC extended its partnership with Singapore Changi Airport. The U.K-based Smith Group provided advanced hold-baggage and explosives detection systems for airport security. The company is expected to install 20 HI-SCAN 10080 XCT, which is an explosive trace detection system. March 2019: OSI Systems Inc. received a contract worth USD 4.0 million from the international airport to provide them with multiple units of Itemiser 4DX, explosives, and narcotics detection system to enhance airport security.
List of Key Players Covered in the Explosive Detection System Market Report: • Smiths Group PLC • FLIR Systems, Inc. • Nuctech Co. Ltd. • L3Harris Technologies, Inc. • Bruker Corporation • Safran SA • American Innovations, Inc. • OSI Systems, Inc. • Leidos Holdings. Inc. • Westminster International Ltd. • Chemring Group PLC • DetectaChem Inc.