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DUBLIN, Oct. 12, 2021 /PRNewswire/ -- The "Mine Detection System Market by Application (Defence and Homeland Security), Deployment (Vehicle Mounted, Ship Mounted, Airborne Mounted and Handheld), Technology, Upgradation (OEMs and MROs), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The Mine Detection Systems market is projected to grow from an estimated USD 5.2 billion in 2021 to USD 6.9 billion by 2026, at a CAGR of 6.2% in terms of value during the forecasted period.
The major growth drivers for this market include rising global concerns, increasing technologies supporting systems to integrate the mine detection systems capabilities in various platforms and focus on increasing the fleet size.
The Mine Detection Systems market includes major players such as Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Israel Aerospace Industries Ltd. (Israel), Raytheon Technologies Corporation (US), Elbit Systems (Israel), L3Harris Technologies, Inc. (US), Leonardo SPA (Italy), BAE Systems (UK), Aselsan AS (Turkey), and Textron Systems (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
The Ship mounted segment of the market is projected to grow at the highest CAGR from 2021 to 2026.
The growth in the Mine Detection Systems market is expected to drive the growth of the four platforms proportionately. The requirement of unmanned marine vehicles in battlefield for surveillance and mine detection capabilities are expected to drive the market during the forecast period.
Based on upgrade, the OEMs segment is projected to grow at the highest CAGR during the forecast period.
Based on upgrade, OEMs segment is projected to grow at the highest CAGR during the forecast period. The requirement of advanced systems in mine detection helps in reducing human loss and increasing capabilities, and investments in R & D towards these systems are helping the growth of the market for Mine Detection Systems.
Based on technology, the Sonar based Systems segment is projected to grow at the highest CAGR during the forecast period.
Growing demand for mine detection systems in marine platform due to their high demand for applications in mine detection using acoustic techniques are projected to increase the growth of the Mine Detection Systems market.
The North America region is estimated to lead the Mine detection Systems market in 2021
The North American region is estimated to lead the Mine Detection Systems market in the forecast period. The growth of the North America Mine Detection Systems market is primarily driven by increasing focus on increasing investments in Mine Detection Systems technologies by countries in this region. In addition, factors including increasing geopolitical tensions and increased defense-related expenditure are expected to drive the demand for Mine Detection Systems market in the region. Well-established and prominent manufacturers of Mine Detection systems in this region include Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), L3Harris Technologies, Inc. (US), and Raytheon Technologies Corporation (US).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Opportunities in Mine Detection System Market4.2 Mine Detection System Market, by Technology4.3 Mine Detection System Market, by Application4.4 Mine Detection System Market, by Country
5 Market Overview 5.1 Introduction5.2 Market Dynamics5.2.1 Drivers5.2.1.1 Increasing Terrorist Activities Worldwide5.2.1.2 Increased Acquisition of Unmanned Systems5.2.1.3 Proliferation of Asymmetric Warfare Around the World5.2.2 Restraints5.2.2.1 Regulatory Constraints in Transfer of Technology5.2.2.2 Lack of Accuracy and Operational Complexities in Airborne Mine Detection5.2.3 Opportunities5.2.3.1 Increasing Demand from Emerging Countries Towards the Procurement of Advanced Mine Detection Systems5.2.3.2 Increasing Demand from Homeland Security Agencies5.2.4 Challenges5.2.4.1 High Cost of Development5.2.4.2 Minimizing Weight and Size of Devices while Maintaining Advanced Features5.2.4.3 Complexity of Design Closure Constraints Has Led Manufacturing Process to be Expensive5.3 Ranges and Scenarios5.4 Impact of COVID-19 on Mine Detection System Market5.4.1 Demand-Side Impact5.4.1.1 Key Developments from January 2020 to June 20215.4.2 Supply-Side Impact5.4.2.1 Key Developments from January 2020 to June 20215.5 Trends/Disruptions Impacting Customer's Business5.5.1 Revenue Shift and New Revenue Pockets for Mine Detection System Manufacturers5.6 Average Selling Price Analysis of Mine Detection Systems, 20205.7 Mine Detection System Market Ecosystem5.7.1 Prominent Companies5.7.2 Private and Small Enterprises5.7.3 End-users5.8 Technology Analysis5.9 Use Case Analysis5.10 Value Chain Analysis of Mine Detection System Market5.11 Porter's Five Forces Analysis5.12 Tariff and Regulatory Landscape5.13 Trade Analysis
6 Industry Trends 6.1 Introduction6.2 Technology Trends6.2.1 Lidar Technology6.2.2 Electrical Impedance Tomography (Eit)6.2.3 Infrared/Hyperspectral Systems6.2.4 Next-Generation Sensor Systems6.3 Supply Chain Analysis6.4 Impact of Megatrends6.4.1 Ai and Cognitive Applications6.4.2 Machine Learning6.4.3 Deep Learning6.4.4 Big Data6.5 Innovations and Patent Registrations
7 Mine Detection System Market, by Application 7.1 Introduction7.2 Homeland Security7.2.1 Increasing Threats to Critical Infrastructure to Drive Demand7.3 Defense7.3.1 Geopolitical Tensions to Drive Demand
8 Mine Detection System Market, by Deployment 8.1 Introduction8.2 Vehicle-Mounted8.2.1 Armored Vehicles8.2.1.1 Easy Installation on Combat Vehicles to Drive Demand8.2.2 Unmanned Ground Vehicles8.2.2.1 Developments by Armed Forces to Drive Demand8.3 Ship-Mounted8.3.1 Combat Ships8.3.1.1 Need for Precise and Accurate Attack Naval Weapons to Drive Demand8.3.2 Submarine8.3.2.1 Ability to Penetrate Below Water Surface Without Attenuation to Drive Demand8.3.3 Unmanned Maritime Vehicle (Umv)8.3.3.1 Adoption of Umvs for Defense Applications to Drive Demand8.4 Airborne-Mounted8.4.1 Fixed Wing Aircraft8.4.1.1 Increasing Number of Combat and Defense Mission Aircraft to Drive Demand8.4.2 Helicopter8.4.2.1 Low Cost of Engagement and Easy Installation to Drive Demand8.4.3 Unmanned Aerial Vehicle (Uav)8.4.3.1 Need for Uavs with Combat Capabilities to Drive Demand8.5 Handheld8.5.1 Compact, Light, and Energy-Efficient Handheld Metal Detectors to Drive Demand
9 Mine Detection System Market, by Upgrade 9.1 Introduction9.2 Oem9.2.1 Increase in Vehicle-Mounted Mine Detection Systems to Drive Demand9.3 Mro9.3.1 Technological Advancements to Drive Demand
10 Mine Detection System Market, by Technology 10.1 Introduction10.2 Laser-Based10.2.1 Rising Undersea Warfare to Drive Demand10.3 Radar-Based10.3.1 Increasing Ground-Based Threats to Drive Demand10.4 Sonar-Based10.4.1 Increasing Procurement of Ships to Drive Demand
11 Regional Analysis
12 Competitive Landscape 12.1 Introduction12.2 Revenue Analysis of Top 5 Market Players, 202012.3 Market Share Analysis of Leading Players, 202012.4 Company Evaluation Quadrant12.4.1 Mine Detection System Market Competitive Leadership Mapping12.4.1.1 Star12.4.1.2 Emerging Leader12.4.1.3 Pervasive12.4.1.4 Participant12.4.2 Mine Detection Systems Market Competitive Leadership Mapping (Sme)12.4.2.1 Progressive Companies12.4.2.2 Responsive Companies12.4.2.3 Starting Blocks12.4.2.4 Dynamic Companies12.5 Company Product Footprint Analysis12.6 Competitive Scenario and Trends12.6.1 Deals12.6.2 Product Launches
13 Company Profiles 13.1 Introduction13.2 Key Players13.2.1 L3Harris Technologies, Inc.13.2.2 Northrop Grumman Corporation13.2.3 Bae Systems13.2.4 Raytheon Technologies Corporation13.2.5 Israel Aerospace Industries13.2.6 Lockheed Martin Corporation13.2.7 Thales Group13.2.8 Elbit Systems Ltd.13.2.9 General Dynamic Corporation13.2.10 Leonardo13.2.11 Chemring Group plc13.2.12 Schiebel13.2.13 MBDA13.2.14 Mine Kafon13.2.15 Rheinmetall Ag13.2.16 Armtrac Ltd13.2.17 Chaudronnerie Et Forges D'alsace13.2.18 Pearson Engineering13.2.19 DCD Group13.3 Other Players13.3.1 CSI13.3.2 Mistral13.3.3 CDAC13.3.4 Gem Systems13.3.5 Tubytak Bulten
14 Appendix
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