The Worldwide Mine Detection System Industry is Expected to Reach $6.9 Billion by 2026
DUBLIN, Oct. 12, 2021 /PRNewswire/ -- The "Mine Detection System Market by Application (Defence and Homeland Security), Deployment (Vehicle Mounted, Ship Mounted, Airborne Mounted and Handheld), Technology, Upgradation (OEMs and MROs), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The Mine Detection Systems market is projected to grow from an estimated USD 5.2 billion in 2021 to USD 6.9 billion by 2026, at a CAGR of 6.2% in terms of value during the forecasted period.
The major growth drivers for this market include rising global concerns, increasing technologies supporting systems to integrate the mine detection systems capabilities in various platforms and focus on increasing the fleet size.
The Mine Detection Systems market includes major players such as Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Israel Aerospace Industries Ltd. (Israel), Raytheon Technologies Corporation (US), Elbit Systems (Israel), L3Harris Technologies, Inc. (US), Leonardo SPA (Italy), BAE Systems (UK), Aselsan AS (Turkey), and Textron Systems (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
The Ship mounted segment of the market is projected to grow at the highest CAGR from 2021 to 2026.
The growth in the Mine Detection Systems market is expected to drive the growth of the four platforms proportionately. The requirement of unmanned marine vehicles in battlefield for surveillance and mine detection capabilities are expected to drive the market during the forecast period.
Based on upgrade, the OEMs segment is projected to grow at the highest CAGR during the forecast period.
Based on upgrade, OEMs segment is projected to grow at the highest CAGR during the forecast period. The requirement of advanced systems in mine detection helps in reducing human loss and increasing capabilities, and investments in R&D towards these systems are helping the growth of the market for Mine Detection Systems.
Based on technology, the Sonar based Systems segment is projected to grow at the highest CAGR during the forecast period.
Growing demand for mine detection systems in marine platform due to their high demand for applications in mine detection using acoustic techniques are projected to increase the growth of the Mine Detection Systems market.
The North America region is estimated to lead the Mine detection Systems market in 2021
The North American region is estimated to lead the Mine Detection Systems market in the forecast period. The growth of the North America Mine Detection Systems market is primarily driven by increasing focus on increasing investments in Mine Detection Systems technologies by countries in this region. In addition, factors including increasing geopolitical tensions and increased defense-related expenditure are expected to drive the demand for Mine Detection Systems market in the region. Well-established and prominent manufacturers of Mine Detection systems in this region include Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), L3Harris Technologies, Inc. (US), and Raytheon Technologies Corporation (US).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Mine Detection System Market
4.2 Mine Detection System Market, by Technology
4.3 Mine Detection System Market, by Application
4.4 Mine Detection System Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Terrorist Activities Worldwide
5.2.1.2 Increased Acquisition of Unmanned Systems
5.2.1.3 Proliferation of Asymmetric Warfare Around the World
5.2.2 Restraints
5.2.2.1 Regulatory Constraints in Transfer of Technology
5.2.2.2 Lack of Accuracy and Operational Complexities in Airborne Mine Detection
5.2.3 Opportunities
5.2.3.1 Increasing Demand from Emerging Countries Towards the Procurement of Advanced Mine Detection Systems
5.2.3.2 Increasing Demand from Homeland Security Agencies
5.2.4 Challenges
5.2.4.1 High Cost of Development
5.2.4.2 Minimizing Weight and Size of Devices while Maintaining Advanced Features
5.2.4.3 Complexity of Design Closure Constraints Has Led Manufacturing Process to be Expensive
5.3 Ranges and Scenarios
5.4 Impact of COVID-19 on Mine Detection System Market
5.4.1 Demand-Side Impact
5.4.1.1 Key Developments from January 2020 to June 2021
5.4.2 Supply-Side Impact
5.4.2.1 Key Developments from January 2020 to June 2021
5.5 Trends/Disruptions Impacting Customer's Business
5.5.1 Revenue Shift and New Revenue Pockets for Mine Detection System Manufacturers
5.6 Average Selling Price Analysis of Mine Detection Systems, 2020
5.7 Mine Detection System Market Ecosystem
5.7.1 Prominent Companies
5.7.2 Private and Small Enterprises
5.7.3 End-users
5.8 Technology Analysis
5.9 Use Case Analysis
5.10 Value Chain Analysis of Mine Detection System Market
5.11 Porter's Five Forces Analysis
5.12 Tariff and Regulatory Landscape
5.13 Trade Analysis
6 Industry Trends
6.1 Introduction
6.2 Technology Trends
6.2.1 Lidar Technology
6.2.2 Electrical Impedance Tomography (Eit)
6.2.3 Infrared/Hyperspectral Systems
6.2.4 Next-Generation Sensor Systems
6.3 Supply Chain Analysis
6.4 Impact of Megatrends
6.4.1 Ai and Cognitive Applications
6.4.2 Machine Learning
6.4.3 Deep Learning
6.4.4 Big Data
6.5 Innovations and Patent Registrations
7 Mine Detection System Market, by Application
7.1 Introduction
7.2 Homeland Security
7.2.1 Increasing Threats to Critical Infrastructure to Drive Demand
7.3 Defense
7.3.1 Geopolitical Tensions to Drive Demand
8 Mine Detection System Market, by Deployment
8.1 Introduction
8.2 Vehicle-Mounted
8.2.1 Armored Vehicles
8.2.1.1 Easy Installation on Combat Vehicles to Drive Demand
8.2.2 Unmanned Ground Vehicles
8.2.2.1 Developments by Armed Forces to Drive Demand
8.3 Ship-Mounted
8.3.1 Combat Ships
8.3.1.1 Need for Precise and Accurate Attack Naval Weapons to Drive Demand
8.3.2 Submarine
8.3.2.1 Ability to Penetrate Below Water Surface Without Attenuation to Drive Demand
8.3.3 Unmanned Maritime Vehicle (Umv)
8.3.3.1 Adoption of Umvs for Defense Applications to Drive Demand
8.4 Airborne-Mounted
8.4.1 Fixed Wing Aircraft
8.4.1.1 Increasing Number of Combat and Defense Mission Aircraft to Drive Demand
8.4.2 Helicopter
8.4.2.1 Low Cost of Engagement and Easy Installation to Drive Demand
8.4.3 Unmanned Aerial Vehicle (Uav)
8.4.3.1 Need for Uavs with Combat Capabilities to Drive Demand
8.5 Handheld
8.5.1 Compact, Light, and Energy-Efficient Handheld Metal Detectors to Drive Demand
9 Mine Detection System Market, by Upgrade
9.1 Introduction
9.2 Oem
9.2.1 Increase in Vehicle-Mounted Mine Detection Systems to Drive Demand
9.3 Mro
9.3.1 Technological Advancements to Drive Demand
10 Mine Detection System Market, by Technology
10.1 Introduction
10.2 Laser-Based
10.2.1 Rising Undersea Warfare to Drive Demand
10.3 Radar-Based
10.3.1 Increasing Ground-Based Threats to Drive Demand
10.4 Sonar-Based
10.4.1 Increasing Procurement of Ships to Drive Demand
11 Regional Analysis
12 Competitive Landscape
12.1 Introduction
12.2 Revenue Analysis of Top 5 Market Players, 2020
12.3 Market Share Analysis of Leading Players, 2020
12.4 Company Evaluation Quadrant
12.4.1 Mine Detection System Market Competitive Leadership Mapping
12.4.1.1 Star
12.4.1.2 Emerging Leader
12.4.1.3 Pervasive
12.4.1.4 Participant
12.4.2 Mine Detection Systems Market Competitive Leadership Mapping (Sme)
12.4.2.1 Progressive Companies
12.4.2.2 Responsive Companies
12.4.2.3 Starting Blocks
12.4.2.4 Dynamic Companies
12.5 Company Product Footprint Analysis
12.6 Competitive Scenario and Trends
12.6.1 Deals
12.6.2 Product Launches
13 Company Profiles
13.1 Introduction
13.2 Key Players
13.2.1 L3Harris Technologies, Inc.
13.2.2 Northrop Grumman Corporation
13.2.3 Bae Systems
13.2.4 Raytheon Technologies Corporation
13.2.5 Israel Aerospace Industries
13.2.6 Lockheed Martin Corporation
13.2.7 Thales Group
13.2.8 Elbit Systems Ltd.
13.2.9 General Dynamic Corporation
13.2.10 Leonardo
13.2.11 Chemring Group plc
13.2.12 Schiebel
13.2.13 MBDA
13.2.14 Mine Kafon
13.2.15 Rheinmetall Ag
13.2.16 Armtrac Ltd
13.2.17 Chaudronnerie Et Forges D'alsace
13.2.18 Pearson Engineering
13.2.19 DCD Group
13.3 Other Players
13.3.1 CSI
13.3.2 Mistral
13.3.3 CDAC
13.3.4 Gem Systems
13.3.5 Tubytak Bulten
14 Appendix
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