REPORT HIGHLIGHT
Mass Threat Detection Market size was valued at USD 5,690.1 Million in 2022, expanding at a CAGR of 6.1% from 2023 to 2030.
Mass threat detection is the process of being able to identify, examine, and maybe neutralize large-scale dangers before they cause harm. Biological dangers, cyberattacks, and physical assaults committed by large crowds are only a few examples of these concerns. For instance, new scanners are being created for airports that can automatically find explosives, firearms, or other dangers. Social media networks can be scanned with AI to look for threats or hate speech. Algorithms may be programmed, for instance, to recognize language or imagery that suggests a premeditated assault or organized destructive action.
Mass Threat Detection Market - Market Dynamics:
- Rising security threats and terrorism globally expected to propel market demand
- The methodologies and technologies used to identify and counteract these threats have had to advance due to the frequency and magnitude of these threats growing. The need for implementing cutting-edge security measures in both public and private spaces has increased as a result of high-profile incidents in urban areas across several nations. Improved intrusion detection and response systems are necessary due to the rise in cyberattacks on government agencies, commercial enterprises, and critical infrastructure. Cybersecurity statistics indicate that there are 2,200 cyber-attacks per day, with a cyber-attack happening every 39 seconds on average. In the US, a data breach costs an average of USD 9.44 M, and cybercrime is predicted to cost USD 8 trillion by 2023. Furthermore, the integration of AI, machine learning, IoT, and big data analytics presents prospects for more precise, quicker, and comprehensive threat detection. This enables in-the-moment analysis and prompt remedial action. However, Particularly for developing nations or smaller firms, advanced MTD systems can be expensive to establish and operate. It hampers the market growth.
Mass Threat Detection Market - Key Insights:
- As per the analysis shared by our research analyst, the global Mass Threat Detection market is estimated to grow annually at a CAGR of around 6.1% over the forecast period (2023-2030)
- Based on product type segmentation, chemical, and biological detection was predicted to show maximum market share in the year 2022
- Depending upon application segmentation, military, and defense was the leading type in 2022
- On the basis of region, North America was the leading revenue generator in 2022
Mass Threat Detection Market- Segmentation Analysis:
- The Global Mass Threat Detection Market is segmented on the basis of product type, application, and region.
- The market is divided into four categories based on product type: Explosive Detection, Intrusion Detection, Chemical and Biological Detection, Radiation Detection, and Narcotics Detection. The chemical and Biological Detection segment dominates the market. The strategies, tools, and solutions used to detect, prevent, and respond to threats that can cause mass casualties or have large-scale effects are referred to as mass threat detection. Chemical, biological, radiological, nuclear, and explosive (CBRNE) attacks, as well as other non-traditional hazards, are examples of these threats. Chemical and biological hazard detection is a critical part of this bigger business.
- The market is divided into three categories based on application: Military and defense, Public Utilities, Commercial, Industrial, and Residential. Military and defense dominate the market. In the context of military and defense, the Mass Threat Detection market refers to systems and technologies that are meant to detect threats that can jeopardize the safety of a nation, its armed forces, and its assets.
Mass Threat Detection Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the growth of the Mass Threat Detection Market. The adoption of security and surveillance technology has consistently been led by North America, particularly the United States and Canada. Due to their robust economies, North American nations have the economic resources necessary to invest in cutting-edge security systems. According to IHS, in 2015, there were about 15.4 billion connected devices. And this number is likely to increase to 30.7 billion, which again will take a great jump to 75.4 billion by 2025. Further, Intel's projection is even bigger in terms of numbers. The company forecasts that there will be over 200 billion connected devices which we will witness by the end of this year. Greater investments are being made in security infrastructure by emerging markets. MTD businesses now have the option to broaden their global reach.
Mass Threat Detection Market- Competitive Landscape:
The competitive landscape for the Mass Threat Detection market is extensive and diverse, especially given the breadth of dangers (from physical to cyber) that governments and major enterprises confront. Larger military and security organizations frequently purchase smaller enterprises with niche technology in order to broaden their product line or reach new markets. Companies are rapidly incorporating AI to better efficiently predict, detect, and respond to dangers. Larger military and security organizations frequently purchase smaller enterprises with niche technology in order to broaden their product line or reach new markets. The constant evolution of threats ensures that innovation and technological advancement remain at the forefront of the sector. For example, on 2 Aug 2023, Smiths Detection, a global leader in threat detection and security screening technologies, announced that Japan Airlines Co., Ltd (JAL), Japan's largest airline, has selected Smiths Detection to deploy its leading security screening technology at Naha International Airport, Okinawa.
Recent Developments:
On August 30, 2022, A Safeway employee who previously served in the U.S. Army for two decades attacked a gunman in the produce section of the Bend, Oregon, supermarket, police said Monday, possibly preventing more casualties from a shooting that left the employee and one other person dead.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL MASS THREAT DETECTION MARKET KEY PLAYERS
- Smith's Detection
- Nuctech
- OSI Systems
- Leidos
- Safeway
- CEIA
- Astrophysics
- IWILDT
- GARRETT
- Hikvision
- Evolv Technology
- Westminster Group
- Others
GLOBAL MASS THREAT DETECTION MARKET, BY PRODUCT TYPE
- X-ray
- Explosive Detection
- Metal Detectors
- Others
GLOBAL MASS THREAT DETECTION MARKET, BY APPLICATION
- Public Utilities
- Business Activities
- Military & Defense
- Others
GLOBAL MASS THREAT DETECTION MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA