Currently, the mine and IED detection systems market is dominated by North America and Europe due to the strong defense-spending in these regions. However, APAC, the Middle East, and Latin America, lag far behind its counterparts as far as defense-spending is concerned. The mine and IED detection system market is emerging in APAC and the Middle East, and will continue to increase spending on the mine and IED detection systems market.
The growth for this market will be sluggish in Europe and North America. There is a slight decline in the global share of advanced markets. The decline is attributed to a reduction in defense expenditure in the western markets (Europe and the U.S.). However, the significant investment growth in most emerging markets (BRIC) will help to keep the market steady.
Nations such as India and the UAE are currently focusing on developments in mine and IED systems. As APAC countries are facing internal and external threats as well as threats from terrorists, the region is trying to strengthen their defense and homeland security inventories. These recent conflicts between countries in the APAC region are driving procurements and investments within the market.
Mine and IED detection systems in the public safety segment of homeland security are of critical importance and is a hot pocket for investment, too. This forecast estimates that emerging markets represent an opportunity for the defense industry due to the domestic demand in emerging markets (BRIC) for mine and IED detection systems.
The key players profiled in the report are BAE Systems (U.K.), Israel Aerospace Industries (Israel), Raytheon (U.S.), Northrop Grumman Corporation (U.S.), L-3 Communications Holdings Inc. (U.S.), ITT Exelis (U.S.), General Dynamics Corporation (U.S.), Schiebel GmBH (Vienna), DCD Group (South Africa), and Chemring Group PLC (U.K.). Apart from a general overview of the companies, it also provides the details of their financial positions, key products and services, growth strategies, and key developments.
Report @ http://www.marketsandmarkets.com/Market-Reports/mine-ied-detection-system-market-78121179.html
The report provides a market analysis of the Anti-tank, Anti-personnel and IED detection systems market over the next 6 years. It talks about the analysis of drivers, restraints, challenges, and opportunities that impact the industry. It also provides the details about the industry and technology trends that are currently prevailing in the Anti-tank, Anti-personnel mine and IED market. The IED and mine detection systems markets are currently estimated to be worth $443.70 million and $298.61 million, respectively. They are also expected to reach $440.20 million and $278.12 million by 2020, respectively.
The technological analysis illustrates the roadmap of the various technologies that are incorporated in developing mine and IED detection systems, while the industry analysis talks about the recent detection systems and development trends such as joint development and hybrid systems development.
In addition to this, the geographical analysis incorporates a regional forecast of the IED and mine detection systems market which includes North America, Europe, the Middle East, Latin America, and Africa. Currently, the market is dominated by North America and Europe, but with the recent economy twist, there is a lot of defense budget cuts and instability in the market. APAC, Russia, and the Middle Eastern region are expected to drive the market during the forecast period.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
North - Dominion Plaza,
17304 Preston Road,
Suite 800, Dallas, TX 75252