The Mine Detection System by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Mine Detection System, The mine detection system market size has grown strongly in recent years. It will grow from $5.34 billion in 2023 to $5.7 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to increased causalities from landmines, a rise in military land clearance operations, increased military expenditure, advancements in mine detection system, and increased terrorist activities.
The mine detection system market size is expected to see strong growth in the next few years. It will grow to $7.51 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to increased causalities from landmines, a rise in military land clearance operations, increased military expenditure, advancements in mine detection system, and increased terrorist activities. Major trends in the forecast period include focus on integrating mine detection systems with ai technology, focus on using innovative and cutting-edge technologies, focus on introducing innovative products, focus on research and development and focus on mergers and acquisitions
The rise in military land clearance operations is contributing to the growth of the mine detection system market. With increasing security threats and border disputes, there has been a rise in military land clearance operations and the detection of improvised explosive devices and traditional Anti-Tank (AT) mines. For example, as of July 2021, according to the Government of India, the Ministry of defence owns tracts of land of approximately 1.795 million acres for land clearance training operations and other military training. Thus, the rising land clearance operations in defense of mine detection technology are driving the mine detection system market.
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The mine detection system market covered in this report is segmented –
1) By Deployment: Vehicle Mounted, Ship Mounted, Airborne Mounted, Handheld
2) By Application: Defence, Homeland Security
3) By Technology: Radar Based, Laser Based, Sonar Based
4) By Detection Capability: Above Surface, Underground
Technological advancements are a key trend gaining popularity in the mine detection system market. A large number of new and advanced technology is being used to detect landmines and IEDs, such as seismic acoustic sensors, optical sensors, radar technology, electromagnetic sensors, chemical sensors, and others. For instance, in October 2021, South Korea’s Defence Acquisition Program Administration (DAPA), produced a man-portable mine detector named PRS-20K system, which is capable of finding both metallic and non-metallic mines.
The mine detection system market report table of contents includes:
1. Executive Summary
2. Mine Detection System Market Characteristics
3. Mine Detection System Market Trends And Strategies
4. Mine Detection System Market – Macro Economic Scenario
5. Global Mine Detection System Market Size and Growth
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26. South America Mine Detection System Market
27. Brazil Mine Detection System Market
28. Middle East Mine Detection System Market
29. Africa Mine Detection System Market
30. Mine Detection System Market Competitive Landscape And Company Profiles
Top Major Players:
- BAE Systems PLC
- Northrop Grumman Corporation
- L3Harris Technologies
- General Dynamics Corporation
- Raytheon Technologies Corporation
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