DUBAI, UAE, July 20, 2020 /PRNewswire/ -- The concealed weapon detection systems market shall surpass a threshold of US$ 300 Mn by 2030, concludes Future Market Insights' recently published report.
Weapon detection systems have come a long way from being mere metal detectors to technologically sophisticated and smartly enhanced systems. Over the years, incidences of gun-based violence and otherwise have registered an alarming increase. Moreover, the threat of terrorism has heightened the need for conducting proper security checks at airports, banks, shopping complexes and educational institutions.
Episodes of violent protest movements, insurgencies and armed conflicts in politically volatile regions has necessitated upgradation of the security apparatus, leading to an uptick in the adoption of concealed weapon detection systems.
As violence patterns evolve, governments are seeking out advanced weapons detection systems to safeguard their citizens from harm. These typically include microwave holography, acoustic detection and x-ray imaging.
"As technology progresses, manufacturers are seeking to develop smart, concealed and portable weapons detection systems, greatly augmenting the scope of the market," infers an FMI analyst.
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Key Takeaways from FMI's Concealed Weapon Detection Systems Report
- Concealed weapon detection systems market shall expand at a CAGR of 6% between 2020 and 2030
- North America shall hold the lion's share of the market, due to increasing incidences of lone-wolf attacks
- Millimeter wave body scanners shall generate maximum growth opportunities
- Over 2000 units of concealed weapon detection systems units will be sold by 2030-end
- Terahertz scanners exhibit bullish prospects throughout the forecast period
Concealed Weapon Detection Systems Market- Key Trends
- Integration of technological advancements such as 3D-holographic millimeter-wave imaging capabilities shall provide immense boost to the market
- Reduction in air travel and banning of public events due to COVID-19 shall hinder growth
- High capital expenditure shall restrict the entry of SMEs into the market
- Skewed average pricing mechanisms shall generate fluctuating growth prospects across different regions
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Concealed Weapon Detection Systems Market- Region-wise Analysis
- Average pricing of concealed weapon detection products ranks highest in the Middle East & Africa
- Europe ranks the least in terms of concealed weapon detection product pricing
- LATAM and South Asia are generating immense demand for concealed weapon detection systems
- United States shall remain the market hegemon due to the enactment of equivocal gun laws
Concealed Weapon Detection Systems Market- Competitive Landscape
Prominent players operating in the concealed weapon detection systems landscape include: Leidos, INO, QinetiQ, TeraSense Group, Smiths Detection Group Ltd, NUCTECH COMPANY LIMITED, and MC2 Technologies among others.
Key market players are investing in research and development activities in order to usher in new detection technologies and enhance the efficacy, safety and reliability of the products. Moreover, companies such as Patriot One Technologies have forged partnerships and collaborations with other players, in this case with March Networks an IP service providers, to develop state-of-the-art detection solutions.
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Concealed Weapon Detection Systems Market Taxonomy
- Millimeter Wave Body Scanners
- Active Millimeter Wave Body Scanners
- Passive Millimeter Wave Body Scanners
- X-Ray Body Scanners
- Backscatter X-Ray Scanners
- Transmission X-Ray Scanners
- Terahertz Body Scanners
- Transportation Infrastructure
- Correctional Facilities
- Stadiums and Sports Arenas
- Military and Defense
- Rest of LATAM
- Rest of Europe
- South Korea
Southeast Asia and Pacific
- Rest of Asia and Pacific
Middle East & Africa
- Northern Africa
- South Africa
- Rest of MEA
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More Insights on the Concealed Weapon Detection Systems Market
FMI's recently published report on the concealed weapon detection systems market offers a comprehensive insight about the prominent dynamics shaping the market's growth trajectory throughout the forecast period of 2020-2030. The report has been segregated into prominent segments, with each segment analyzed across several prominent geographies. The report provides an unbiased assessment of all growth parameters, helping readers take balanced decisions.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE Future Market Insights