SAN FRANCISCO, April 24, 2018 /PRNewswire/ --
The global explosive trace detection market size is expected to reach USD 2.36 billion by 2025, according to a study conducted by Grand View Research, Inc., registering a 10.5% CAGR during the forecast period. Rise in terrorist activities across the globe and increasing adoption of explosive trace detectors in public safety and law enforcement sectors have bolstered market growth. These devices enable users to experience enhanced security and detection capabilities.
Growing interest of explosive trace detector companies such as Chemring Group PLC in capturing a larger market share in regions such as Middle East is expected to drive adoption of explosive trace detectors. Additionally, increasing commercial activities are bolstering market growth in the region.
The Asia Pacific regional market is expected to witness considerable growth, owing to increasing need for public safety. Stringent government regulations pertaining to security screening is also bolstering market growth. Additionally, increased defense budgets in developing countries in the region is boosting the market.
However, high costs pertaining to development and maintenance of explosive trace detectors are expected to hinder market growth. Therefore, device providers are focusing on developing affordable solutions that can be used in other application sectors, such as utilities and transportation.
Browse full research report with TOC on "Explosive Trace Detection (ETD) Market Size, Share & Trends Analysis Report By Product Type (Handheld, Vehicle-Mounted), By Application (Military & Defense, Public Safety, Transportation), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/explosive-trace-detection-market
Further Key Findings From the Report Suggest:
- Handheld explosive trace detectors offer visual and audio alerts. Therefore, the segment is expected to exhibit the highest CAGR over the forecast period
- Demand for explosive trace detectors is expected to increase in the public safety and law enforcement segment owing to benefits such as real-time 3D color images offered by these detectors
- Asia Pacific is expected to emerge as the fastest-growing region over the forecast period due to increased adoption of explosive trace detectors by the transportation and logistics sector in the region
- Prominent industry participants include Chemring Group; FLIR Systems, Inc.; L3 Technologies, Inc.; OSI Systems, Inc.; and Smiths Detection Inc.
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Grand View Research has segmented the global explosive trace detection market based on product type, application, and region:
- Explosive Trace Detection Product Type (Revenue, USD Million, 2014 - 2025)
- Other Detectors
- Explosive Trace Detection Application Outlook (Revenue, USD Million, 2014 - 2025)
- Military & Defense
- Transportation & Logistics
- Public Safety & Law Enforcement
- Explosive Trace Detection Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- South America
- North America
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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