Market Research Report
Global Explosive Detection Equipment Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||504393|
|Published||Content info||126 Pages
Delivery time: 1-2 business days
|Global Explosive Detection Equipment Market 2019-2023|
|Published: January 16, 2019||Content info: 126 Pages||
The rapid increase in the number of air passengers has resulted in significant changes in the standard operating procedure (SOP) of airport terminals to cater to the increased flow of traffic with minimum capacity constraints while ensuring zero lapse in security protocols. Terror threats have augmented the level of security implemented at various checkpoints, resulting in the incorporation of advanced machinery to perform rapid scanning of personnel and baggage for explosives and other threats such as chemical weapons. Thus, the adoption of advanced automated scanning systems will significantly contribute to the global explosive detection equipment market during the forecast period. Technavio's analysts have predicted that the explosive detection equipment market will register a CAGR of almost 9% by 2023.
Prominent vendors are increasingly diversifying their business portfolio to include aftermarket services to cater to the potential of the existing market landscape. Such developments are expected to contribute to the growth of the global explosive detection equipment market during the forecast period.
The instances of widespread sales of counterfeit detectors to security agencies of various countries have reduced the confidence in hand-held products. The governments are restraining from procuring explosive detection equipment from foreign vendors, which is adversely affecting the global supply chain. Moreover, the low trust levels have reduced the number of contracts placed for such devices and has limited the growth opportunities for the global explosive detection equipment market.
For the detailed list of factors that will drive and challenge the growth of the explosive detection equipment market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.