The global mine detection system market reached a value of nearly $4,609.8 million in 2021, having grown at a compound annual growth rate (CAGR) of 2.0% since 2016. The market is expected to grow from $4,609.8 million in 2021 to $6,242.2 million in 2026 at a rate of 6.3%. The market is then expected to grow at a CAGR of 6.4% from 2026 and reach $8,511.7 million in 2031.
Growth in the historic period resulted from increased causalities from landmines, a rise in military land clearance operations, increased military expenditure, advancements in mine detection system, and increased terrorist activities. The market was restrained by political uncertainties and defense budget reductions in developed nations.
Going forward, the use of unmanned and autonomous technologies, an increase in border disputes and security threats, and an increase in investments in mine detection technologies will drive market growth. Factors that could hinder the growth of the mine detection system market in the future include a lack of accuracy and operational complexities in airborne mine detection and geopolitical tensions.
The mine detection system market is segmented by deployment into vehicle mounted, ship mounted, airborne mounted, and handheld. The handheld market was the largest segment of the mine detection system market segmented by deployment, accounting for 44.6% of the total in 2021. Going forward, the handheld segment is expected to be the fastest growing segment in the mine detection system market segmented by deployment, at a CAGR of 6.5% during 2021-2026.
The mine detection system market is also segmented by technology into radar-based, laser-based, and sonar-based. The radar-based market was the largest segment of the mine detection system market segmented by technology, accounting for 67.0% of the total in 2021. Going forward, the sonar-based segment is expected to be the fastest growing segment in the mine detection system market segmented by technology, at a CAGR of 6.7% during 2021-2026.
The mine detection system market is also segmented by application into defense and homeland security. The defense market was the largest segment of the mine detection system market segmented by application, accounting for 66.4% of the total in 2021. Going forward, the homeland security segment is expected to be the fastest growing segment in the mine detection system market segmented by application, at a CAGR of 6.3% during 2021-2026.
The mine detection system market is also segmented by detection capability into above surface and underground. The underground market was the largest segment of the mine detection system market segmented by detection capability, accounting for 77.9% of the total in 2021. Going forward, the underground segment is expected to be the fastest growing segment in the mine detection system market segmented by detection capability, at a CAGR of 6.4% during 2021-2026.
North America was the largest region in the mine detection system market, accounting for 30.3% of the total in 2021. It was followed by Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the mine detection system market will be Eastern Europe, and, North America where growth will be at CAGRs of 7.5% and 7.2% respectively. These will be followed by Asia Pacific, and, Western Europe where the markets are expected to grow at CAGRs of 6.4% and 5.8% respectively.
The global mine detection system market is fragmented with large number of players operating in the market. The top ten competitors in the market made up to 30.81% of the total market in 2021. BAE Systems Plc was the largest competitor with 6.18% share of the market, followed by Northrop Grumman Corporation with 5.50%, L3Harris Technologies with 4.74%, General Dynamics Corporation with 3.43%, Raytheon Technologies Corporation with 3.03%, Thales Group with 2.65%, Lockheed Martin Corporation with 2.18%, Israel Aerospace Industries Ltd with 1.46%, Chemring Group Plc with 1.06%, and Elbit Systems with 0.57%.
The top opportunities in the mine detection system market segmented by deployment will arise in the handheld market segment, which will gain $762.5 million of global annual sales by 2026. The top opportunities in the mine detection system market segmented by technology will arise in the radar-based market segment, which will gain $1,065.7 million of global annual sales by 2026. The top opportunities in the mine detection system market segmented by application will arise in the defense market segment, which will gain $1,079.8 of global annual sales by 2026. The top opportunities in the mine detection system market segmented by detection capability will arise in the underground market segment, which will gain $1,309.1 of global annual sales by 2026.The mine detection system market size will gain the most in the USA at $497.1 million.
Market-trend-based strategies for the mine detection system market include focus on integrating mine detection systems with AI technology, focus on using innovative and cutting-edge technologies, focus on introducing innovative products, focus on research and development and focus on mergers and acquisitions.
Player-adopted strategies in the mine detection system market include focus on enhancing business operations through securing new contracts, focus on providing sustainable and affordable mine detection system through collaborations and partnerships, focus on integrating advanced communications and high accuracy navigation sensors and focus on enhancing mine countermeasure technology to perform at greater depths, deliver more precise localization, and identify complex target environments.
To take advantage of the opportunities, the publisher recommends the mine detection system companies to focus on use of artificial intelligence (AI), use latest technologies, focus on introducing innovative products, expand in emerging markets, focus on regions of conflict, increase focus on mergers and acquisitions, provide competitively priced offerings, focus on building long-term relationships with end-users and focus on fast-growing applications.
This report describes and explains the mine detection system market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.
Growth in the historic period resulted from increased causalities from landmines, a rise in military land clearance operations, increased military expenditure, advancements in mine detection system, and increased terrorist activities. The market was restrained by political uncertainties and defense budget reductions in developed nations.
Going forward, the use of unmanned and autonomous technologies, an increase in border disputes and security threats, and an increase in investments in mine detection technologies will drive market growth. Factors that could hinder the growth of the mine detection system market in the future include a lack of accuracy and operational complexities in airborne mine detection and geopolitical tensions.
The mine detection system market is segmented by deployment into vehicle mounted, ship mounted, airborne mounted, and handheld. The handheld market was the largest segment of the mine detection system market segmented by deployment, accounting for 44.6% of the total in 2021. Going forward, the handheld segment is expected to be the fastest growing segment in the mine detection system market segmented by deployment, at a CAGR of 6.5% during 2021-2026.
The mine detection system market is also segmented by technology into radar-based, laser-based, and sonar-based. The radar-based market was the largest segment of the mine detection system market segmented by technology, accounting for 67.0% of the total in 2021. Going forward, the sonar-based segment is expected to be the fastest growing segment in the mine detection system market segmented by technology, at a CAGR of 6.7% during 2021-2026.
The mine detection system market is also segmented by application into defense and homeland security. The defense market was the largest segment of the mine detection system market segmented by application, accounting for 66.4% of the total in 2021. Going forward, the homeland security segment is expected to be the fastest growing segment in the mine detection system market segmented by application, at a CAGR of 6.3% during 2021-2026.
The mine detection system market is also segmented by detection capability into above surface and underground. The underground market was the largest segment of the mine detection system market segmented by detection capability, accounting for 77.9% of the total in 2021. Going forward, the underground segment is expected to be the fastest growing segment in the mine detection system market segmented by detection capability, at a CAGR of 6.4% during 2021-2026.
North America was the largest region in the mine detection system market, accounting for 30.3% of the total in 2021. It was followed by Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the mine detection system market will be Eastern Europe, and, North America where growth will be at CAGRs of 7.5% and 7.2% respectively. These will be followed by Asia Pacific, and, Western Europe where the markets are expected to grow at CAGRs of 6.4% and 5.8% respectively.
The global mine detection system market is fragmented with large number of players operating in the market. The top ten competitors in the market made up to 30.81% of the total market in 2021. BAE Systems Plc was the largest competitor with 6.18% share of the market, followed by Northrop Grumman Corporation with 5.50%, L3Harris Technologies with 4.74%, General Dynamics Corporation with 3.43%, Raytheon Technologies Corporation with 3.03%, Thales Group with 2.65%, Lockheed Martin Corporation with 2.18%, Israel Aerospace Industries Ltd with 1.46%, Chemring Group Plc with 1.06%, and Elbit Systems with 0.57%.
The top opportunities in the mine detection system market segmented by deployment will arise in the handheld market segment, which will gain $762.5 million of global annual sales by 2026. The top opportunities in the mine detection system market segmented by technology will arise in the radar-based market segment, which will gain $1,065.7 million of global annual sales by 2026. The top opportunities in the mine detection system market segmented by application will arise in the defense market segment, which will gain $1,079.8 of global annual sales by 2026. The top opportunities in the mine detection system market segmented by detection capability will arise in the underground market segment, which will gain $1,309.1 of global annual sales by 2026.The mine detection system market size will gain the most in the USA at $497.1 million.
Market-trend-based strategies for the mine detection system market include focus on integrating mine detection systems with AI technology, focus on using innovative and cutting-edge technologies, focus on introducing innovative products, focus on research and development and focus on mergers and acquisitions.
Player-adopted strategies in the mine detection system market include focus on enhancing business operations through securing new contracts, focus on providing sustainable and affordable mine detection system through collaborations and partnerships, focus on integrating advanced communications and high accuracy navigation sensors and focus on enhancing mine countermeasure technology to perform at greater depths, deliver more precise localization, and identify complex target environments.
To take advantage of the opportunities, the publisher recommends the mine detection system companies to focus on use of artificial intelligence (AI), use latest technologies, focus on introducing innovative products, expand in emerging markets, focus on regions of conflict, increase focus on mergers and acquisitions, provide competitively priced offerings, focus on building long-term relationships with end-users and focus on fast-growing applications.
This report describes and explains the mine detection system market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.
Table of Contents
1. Mine Detection System Market Executive Summary2. Table of Contents3. List of Figures4. List of Tables5. Report Structure
6. Introduction and Market Characteristics
7. Major Market Trends
8. Global Market Size And Growth
9. Mine Detection System Market, Regional Analysis
10. Global Mine Detection System Market Segmentation
11. Asia-Pacific Market
12. Western Europe Market
13. Eastern Europe Market
14. North America Market
15. South America Market
16. Middle East Market
17. Africa Market
Executive Summary
Mine Detection System Global Market Opportunities And Strategies To 2031 from the publisher provides the strategists; marketers and senior management with the critical information they need to assess the global mine detection system market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates
- Create regional and country strategies on the basis of local data and analysis
- Identify growth segments for investment
- Outperform competitors using forecast data and the drivers and trends shaping the market
- Understand customers based on the latest market research findings
- Benchmark performance against key competitors
- Utilize the relationships between key data sets for superior strategizing
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
Where is the largest and fastest-growing market for mine detection system? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The mine detection system market global report from the publisher answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider mine detection system market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the mine detection system market
- Key Trends - Highlights the major trends shaping the global mine detection system market. This section also highlights likely future developments in the market
- Global Market Size and Growth - Global historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods
- Regional Analysis - Historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values and growth and market share comparison by region
- Market Segmentation - Contains the market values (2016-2031) and analysis for for segment by deployement, by application, by technology, and by detection capability in the market
- Regional Market Size and Growth - Regional market size (2021), historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years
- Market Opportunities And Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets
- Conclusions And Recommendations - Includes recommendations for mine detection system providers in terms of product/service offerings, geographic expansion, marketing strategies and target groups
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report
Scope
Markets Covered
- 1) By Deployment: Vehicle Mounted; Ship Mounted; Airborne Mounted; Handheld
- 2) By Technology: Radar-Based; Laser-Based; Sonar-Based
- 3) By Application: Defense; Homeland Security
- 4) By Detection Capability: Underground; Above Surface
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time-series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; mine detection system indicators comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- BAE Systems Plc
- Northrop Grumman Corporation
- L3Harris Technologies
- General Dynamics Corporation
- Raytheon Technologies Corporation
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 248 |
| Published | November 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 4609.8 Million |
| Forecasted Market Value ( USD | $ 8511.7 Million |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
