LONDON, May 12, 2016 /PRNewswire/ -- "Increasing demand for tighter screening process and anti-terrorism activities driving the explosive detectors market"
The explosive detectors market size, in terms of value, is expected to grow from USD 3.56 billion in 2015 to USD 6.12 billion by 2020, at a CAGR of 11.4% between 2015 and 2020. The explosive detectors market is driven by factors such as the rising terrorist activities across the globe, various government legislations for enhanced security screening, and increasing demand for tighter screening process and antiterrorism activities.
"Handheld explosive detectors to gain maximum traction during the forecast period"
The robotics-based explosive detectors is expected to hold the largest share of the market duing the forecast period. The handheld explosive detectors market is expected to gain traction and grow at the highest CAGR in the next five years. This is the most sustainable product segment of the explosive detectors market owing to the low cost and ease of use. The explosive detectors market is also expetced to witness growth in the public places and commercial verticals, with aviation vertical holding the largest market share during the forecast period.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The breakdown of the profile of primary participants is given below:
- By Company Type: Tier 1 – 16 %, Tier 2 – 22%, and Tier 3 – 62%
- By Designation: C level – 34%, Director level – 24%, Others – 42%
- By Region: North America – 43%, Europe – 19%, APAC – 32%, RoW – 6%
Given the rise in the demand for explosive detectors in the public places and commercial verticals, the explosive detectors market finds huge opportunity in the next five years.
The various key explosive detectors vendors profiled in the report are as follows:
1. Smiths Group PLC (London, U.K)
2. Safran SA (Paris, France)
3. L-3 Communications Holdings, Inc. (New York, U.S.)
4. OSI Systems, Inc. (California, U.S.)
5. Nuctech Co. Ltd., (Beijing, China)
6. Leidos Holdings, Inc. (Virginia, United States)
7. FLIR Systems, Inc. (Oregon, U.S.)
8. Chemring Group PLC (Hampshire, U.K)
9. American Science & Engineering, Inc. (Massachusetts, U.S.)
10. Implant Sciences Corporation (Massachusetts, U.S.)
11. Analogic Corporation (U.S.)
The report would help the market leaders or new entrants in this market in the following ways:
1. This report segments the explosive detectors market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders to better understand the competitor and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.
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