Mine Detection System Market Report 2024 by Delvens offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance. Mine Detection System Market size is projected to reach a CAGR of 6.8% from 2023-2030.
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A mine detector is a device for locating buried or concealed mines usually by indicating the presence of metal or by giving a signal when it is passed over something different from the ground in the vicinity. Mine detection systems are employed to rid a previous battlefield of all the mines that were laid there during a war and make these safe for civilians and wildlife.
Rise in military land clearance operations, advancement in sensor technology in the defense sector, and increase in the use of traditional Anti-Tank (AT) mines are the major factors that drive the growth of the mine detection system market. Furthermore, growing demining activities in the military and rising consciousness related to the significance of demining procedure are the opportunities involved in the global mine clearance market
On the other hand, the high cost of mine & IED detection systems and declining Defense expenses are the restraints that hindered the growth of the mine detection system market.
Due to enforced lockdowns and imposed limits by different regulatory bodies as a result of the COVID-19 outbreak, numerous industries' operations have either been temporarily halted or are operating with reduced personnel. This is no different in the worldwide mine detection system market, and this aspect is expected to have a substantial negative impact on the industry's revenue growth. Additionally, the high costs associated with the installation and maintenance of this equipment is a factor that could limit the global mine detection system market's revenue growth throughout the forecast period.
Competitive Landscape
· BAE Systems
· Israel Aerospace Industries Ltd.
· L3Harris Technologies, Inc.
· Northrop Grumman Corporation
· Raytheon Technologies Corporation
· Lockheed Martin Corporation
· Leonardo SPA
· Elbit Systems
· Textron Systems
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Delvens Industry Expert's Standpoint
The growing demand for the effective detection and removal of landmines and unexploded ordnance (UXO) from conflict-affected areas. These areas are often littered with landmines and UXO, which pose a significant threat to civilians and impede economic development. Hence, mine detection systems are significantly important in the operations of Defense, as it enables troops to safely navigate through conflict-affected areas and identify potential threats. Moreover, to avoid the impedance in economic development in the hazardous areas since these areas restrict the movement, trade possibility, and transport facility.
Regional Analysis
North America to Dominate the Market
· The North American region is estimated to lead the Mine Detection Systems market in the forecast period. The US is recognized as one of the key manufacturers, exporters, and users of mine detection systems worldwide and is known to have the largest market share.
· The new defense strategy of the US indicates an increase in spending on unmanned systems to include advanced capabilities in existing defense systems of the US Army to detect the presence of planted mines.
Recent Developments
· In May 2021, General Dynamics Mission Systems Inc. of Quincy, Massachusetts, has been awarded a contract by the US Navy for the conversion of five Surface Mine Countermeasure Unmanned Undersea Vehicle systems to the Block I configuration and engineering support services.
· In May 2021, Germany's Rheinmetall won a contract to provide British Armed Forces with mission masters. In order to study potential future capabilities, the British military will purchase four additional Mission Masters, this time with a fire support module. Other than logistics, it may also be used for surveillance, security, casualty evacuation, and CBRN detection, among other things. Additionally, the Mission Master may be used as a mobile radio relay station.
Mine Detection System Market is segmented into various segments such as deployment, application, technology, upgrade, and region:
On the basis of deployment
· Vehicle Mounted
· Ship Mounted
· Airborne Mounted
· Handheld
On the basis of application
· Defence
· Homeland Security
On the basis of technology
· Radar Based
· Laser Based
· Sonar Based
On the basis of upgrade
· OEMs
· MROs
On the basis of region
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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In addition to the market data for Mine Detection System Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement.
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