A mine detection system refers to critical technologies used primarily to identify and neutralize landmines and other explosive remnants of war. These systems are employed by military and security agencies to ensure safe passage through conflict-affected or potentially hazardous areas.
The mine detection system market consists of sales, by entities (such as organizations, sole traders or partnerships), of mine detection systems that are used for mine detection tasks during and after conflicts to reduce casualties and enable reconstruction activities. Mine detection systems include a variety of products designed to locate mines using different deployment methods, technologies and for various applications.
The global mine detection system market was valued at $4,536.27 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 3.0%.
Government Initiatives And Contracts
During the historic period, the mine detection system market was driven by government initiatives and defense contracts. Government defense contracts refer to agreements between the military or intelligence departments of a government and private companies to provide products, services, or solutions related to national defense and security. For example, in June 2021, General Dynamics Mission Systems Inc, a US-based aerospace and defense company, received a contract from the US Navy to convert five surface mine countermeasure unmanned undersea vehicle systems to Block I configuration and engineering support services. Further, in December 2022, Enterprise Ventures Corporation, a US-based organization providing cost-focused professional services, business consulting and production solutions for the government received a contract of $18 million from the United States Navy for manufacturing parts of an underwater mine detection unit. Therefore, the increase in government initiatives and defense contracts supported the growth of the mine detection system market.
Market Players Providing Support Services To Governments
Major companies operating in the mine detection system market are focusing on providing support services, such as depot-level support services, to sustain their position in the market. These services include the processes of materiel maintenance or repair involving the overhaul, upgrading, rebuilding, testing, inspection and reclamation (as necessary) of weapon systems, equipment end items, parts, components, assemblies and subassemblies. For instance, in August 2022, Raytheon, a US-based aerospace and defense company, received a deal of $91.7 million for a potential five-years from the United States Navy. This deal includes services such as maintenance and depot-level support for the AN/AQS-20 sonar mine-detecting system and AN/MHP-20 deploy and retrieve platform.
The global mine detection system market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 26.81% of the total market in 2022.
Mine Detection System Global Market Opportunities And Strategies To 2033 from The Business Research Company 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.
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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 Business Research Company 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 segment by technology, by detection capability, by application and by deployment.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the mine detection system market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by technology, by detection capability, by application and by deployment in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) 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.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is 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- This section 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.
Markets Covered:
- 1) By Technology: Radar Based; Laser Based; Sonar Based
- 2) By Detection Capability: Above Surface; Underground
- 3) By Deployment: Vehicle Mounted; Ship Mounted; Airborne Mounted; Handheld
- 4) By Application: Defense; Homeland Security
- Companies Mentioned: Lockheed Martin Corporation; Raytheon Technologies Corporation; General Dynamics Corporation; BAE Systems PLC; Thales Group
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; 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.