Global Mine Detection System Market Report 2022 – Market Forecast, Trends And Strategies
19 Sep, 2022
The global mine detection system market size is expected to grow from $4.66 billion in 2021 to $4.95 billion in 2022 at a compound annual growth rate (CAGR) of 6.20%. The global mine detection system market size is expected to grow to $6.32 billion in 2026 at a CAGR of 6.33%.
What is the Global Mine Detection System Market?
The mine detection system market consists of sales of mine detection system products and related services by entities (organizations, sole traders, and partnerships) that are used for locating buried or concealed mines. Mine detection is the process of locating, detecting, and providing more information about different types of mines.
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What drives the Global Mine Detection System Market?
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 detecting 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 for mines detection technology is driving the mine detection system market.
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Global Mine Detection System Market Segments
The global mine detection system market is segmented:
By Deployment: Vehicle Mounted, Ship Mounted, Airborne Mounted, Handheld
By Application: Defence, Homeland Security
By Technology: Radar-Based, Laser-Based, Sonar-Based
By Detection Capability: Above Surface, Underground
By Geography: The regions covered in the mine detection system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Mine Detection System Global Market Report 2022 provides market size and growth forecasts for the global mine detection system market, global mine detection system market share, mine detection system market segments and geographies, mine detection system market competitive landscape including leading competitors’ revenues, profiles and market shares. The mine detection system market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Mine Detection System Industry Players include Northrop Grumman Corporation, Israel Aerospace Industries Ltd, Raytheon Technologies Corporation, BAE Systems, L3Harris Technologies, DCD Group Ltd., Lockheed Martin Corporation, Thales Group, Elbit Systems Ltd., General Dynamics Corporation, Schiebel Gmbh, and Chemring Group Plc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.