Explosive Detectors Market - Forecast to 2020 - Government Legislations Creating Huge Demand Worldwide

Feb 23, 2016, 12:10 ET from Research and Markets

DUBLIN, Feb. 23, 2016 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/g3pck7/explosive) has announced the addition of the "Explosive Detectors Market - Forecast to 2020" report to their offering.

According to the this forecast, 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 rising terrorist activities across the globe, various government legislations for enhanced security screening, and increasing demand for tighter screening process and anti terrorism activities create a huge demand for explosive detectors across the world.

With the intensified risk of terrorism, security professionals at nuclear power plants, embassies, high-risk facilities, transportation, and government agencies are exploring explosives detection, as part of a comprehensive security approach to help protect the citizens and important infrastructure from terrorist threats.

North America is expected to hold the largest market share and dominate the explosive detectors market between 2015 and 2020 owing to the presence of large number of security vendors. Europe also offers potential growth opportunities, given the in recent terrorist attacks and the presence of critical infrastructure in the region.

However, the increasing cyber threats and decreasing government spending in explosive detectors restrains the growth of the explosive detectors market. With the emergence of new cyber threats, the defense budgets of governments worldwide are getting hampered, and thus the government spending on explosive detectors is decreasing.

This high spending toward cyber threats limits the funds for research and development of better explosive detectors, as the same funds are diverted toward the protection of information.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Market, By Technology

8 Market, By Product Type

9 Market, By Vertical

10 Market, By Geography

11 Competitive Landscape

12 Company Profiles

Companies Mentioned:

  • American Science & Engineering, Inc.
  • Analogic Corporation
  • Chemring Group PLC
  • Flir Systems, Inc.
  • Implant Sciences Corporation
  • L-3 Communications Holdings, Inc.
  • Leidos Holdings, Inc.
  • Nuctech Co. Ltd.
  • OSI Systems, Inc.
  • Safran SA
  • Smiths Group PLC

For more information visit http://www.researchandmarkets.com/research/g3pck7/explosive

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SOURCE Research and Markets