The report "Global Explosive Trace Detection Market, by Product Type (Handheld, Vehicle-Mounted, and Other Detectors (Robotics and Biosensors), by Application (Military and Defense, Transportation and Logistics, Public Safety and Law Enforcement, Commercial, and Others (Residential, Aviation, etc), and Region - Global Forecast to 2029"
Explosive trace detection market is projected to grow from US$ 1.2 billion in 2019 to US$ 3.5 billion by 2029. The global explosive trace detection market is expected to register moderate growth over the forecast period. This is attributed to increasing terrorist activities across the globe, coupled with rising demand for tighter screening process.
Key Highlights:
- On November 2015, Smiths Detection, Inc had launched TRACE-PRO is a revolutionary explosives detector for fast identification and evidence collection.
- On February 5, 2019, FLIR Systems, Inc hadlaunched uncooled thermal camera designed for detecting methane gas.
Key Market Insights from the report:
The global explosive trace detection market accounted for US$ 1.2 billion in 2019 and is projected to register a moderate CAGR of 10.4% over the forecast period. The market report has been segmented on the basis of product type, application, and region.
- By product type segmentation, the robotics segment accounted for major revenue share in 2019. This is due to robotics have higher efficiency and greater levels of control.
- By application, the global explosive trace detection market is segmented into military and defense, transportation and logistics, public safety and law enforcement, commercial, and others. Others application sub-segment is classified into residential, aviation, etc.
- By region, North America explosive trace detection marketis accounted for major revenue share of the global explosive trace detection market and is further anticipated to maintain its dominance over the forecast period, owing to presence of major players in the countries of North America region. The market in Europe is expected to account for major revenue share in global explosive trace detection market during forecast period in 2019.
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The prominent player operating in the global explosive trace detection market includes Autoclear, LLC, Smiths Detection, Inc, American Science and Engineering, Inc, FLIR Systems, Inc, OSI Systems, Inc, Leidos Holdings, Inc, Analogic Corporation, Chemring Group PLC, L3 Technologies, Inc., and Nuctech Company Limited.
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