BUSINESS: Mine Detection System Market By Application, Deployment, Technology, Upgradation And Region – Global Forecast To 2026 – ResearchAndMarkets.com

dWeb.News Article from Daniel Webster dWeb.News

dWeb.News Article from Daniel Webster dWeb.News

By Daniel Webster, dWeb.News Publisher

DUBLIN–(BUSINESS WIRE)–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 market’s major growth drivers are rising global concerns and the increasing use of technologies to integrate mine detection systems capabilities into various platforms. They also plan to increase the fleet size.

The Ship mounted segment of the market is projected to grow at the highest CAGR from 2021 to 2026. The market for Mine Detection Systems is expected to grow in proportion with the growth of all four platforms. Market growth is expected to be driven by the requirement for unmanned marine vehicles on the battlefield for surveillance and mine detection capabilities.

Based on upgrade, OEMs is expected to grow at the highest rate during the forecast period. The OEMs segment is expected to grow at the highest rate of CAGR over the forecast period. Advanced systems for mine detection are essential to reduce human loss and increase capabilities. Investments in R&D toward these systems have helped drive the market growth in Mine Detection Systems.

Based on technology, Sonar based Systems is expected to grow at the highest rate during the forecast period. The growing demand for mine detection systems on marine platforms due to their use in mine detection with acoustic techniques is expected to drive the market for Mine Detection Systems.

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 North American Mine Detection Systems market has seen a significant increase in investments in Mine Detection Systems technology by the countries of this region. The region’s demand for Mine Detection Systems is expected to rise due to factors such as increasing geopolitical tensions, and increased defense-related spending. The US’s Lockheed Martin Corporation, Northrop Grumman Corporation, and Raytheon Technologies Corporation are all well-known manufacturers of Mine Detection Systems.

Market Dynamics

Drivers

Increasing Terrorist Activities Worldwide
Increased Acquisition of Unmanned Systems
Proliferation of Asymmetric Warfare Around the World

Restraints

Regulatory Constraints in Transfer of Technology
Lack of Accuracy and Operational Complexities in Airborne Mine Detection

Opportunities

Increasing Demand from Emerging Countries Towards the Procurement of Advanced Mine Detection Systems
Increasing Demand from Homeland Security Agencies

Challenges

High Cost of Development
Minimizing Weight and Size of Devices while Maintaining Advanced Features
Complexity of Design Closure Constraints Has Led Manufacturing Process to be Expensive

Companies Mentioned

Armtrac Ltd
Bae Systems
CDAC
Chaudronnerie Et Forges D’alsace
Chemring Group plc
CSI
DCD Group
Elbit Systems Ltd.
Gem Systems
General Dynamic Corporation
Israel Aerospace Industries
L3Harris Technologies, Inc.
Leonardo
Lockheed Martin Corporation
MBDA
Mine Kafon
Mistral
Northrop Grumman Corporation
Pearson Engineering
Raytheon Technologies Corporation
Rheinmetall Ag
Schiebel
Thales Group
Tubytak Bulten

For more information about this report visit https://www.researchandmarkets.com/r/3xie3z

For more dWeb.News Business News: https://dweb.news/news-sections/business-news/

The post BUSINESS: Mine Detection System Market By Application, Deployment, Technology, Upgradation And Region – Global Forecast To 2026 – ResearchAndMarkets.com appeared first on dWeb.News dWeb.News from Daniel Webster Publisher dWeb.News – dWeb Local Tech News and Business News

The post BUSINESS: Mine Detection System Market By Application, Deployment, Technology, Upgradation And Region – Global Forecast To 2026 – ResearchAndMarkets.com appeared first on dWeb.News dWeb.News from Daniel Webster Publisher dWeb.News – dWeb Local Tech News and Business News

Read More

Section C Consumer Products Retail News – dWeb.News

More Consumer Products Retail News at https://dweb.news/category/dweb-news/section-c-consumer-products-retail-news/

Similar Posts