Global Explosive Trace Detection (ETD) Market|Increase In Passenger Traffic to Boost the Market Growth | Technavio
The global explosive trace detection (ETD) market size is poised to grow by USD 929.60 million during 2020-2024, progressing at a CAGR of almost 9% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
There have been significant changes in standard operation procedures (SOP) for air terminals, owing to the constant increase in air passenger traffic. Airports are incorporating advanced machinery for rapid scanning of people and baggage. They are also using advanced scanning technologies to accommodate cyclic fluctuations in passenger inflow. Thus, the increasing passenger traffic will stimulate the need for automated scanning systems at airports, which will drive the explosive trace detection market growth.
The major explosive trace detection (ETD) market growth came from the IBSPS segment in 2019, and is expected to register the highest growth during the forecast period.
APAC was the largest ETD market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the extensive need to strengthen the security screening capabilities in country borders with technological advances by employing EDS and ETD and the growing defense budgets in China, South Korea, India, and Japan to improve their national security.
The global explosive trace detection (ETD) market is fragmented. American Innovations Inc., Bruker Corp., Chemring Group Plc, FLIR Systems Inc., Hitachi Ltd., L3 Technologies Inc., Leidos Holdings Inc., OSI Systems Inc., Smiths Group Plc, and Westminster International Ltd. are some of the major market participants. To help clients improve their market position, this explosive trace detection (ETD) market forecast report provides a detailed analysis of the market leaders.
As the business impact of COVID-19 spreads, the global explosive trace detection (ETD) market 2020-2024 is expected to have positive growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Evolution of Concealment Techniques Used by Terror Organizations will be a Key Market Trend
Global transport systems are targeted by terrorist organizations for inflicting mass casualties and causing substantial damage to the economy of a country. During the last decade, the frequency of terrorist attacks at surface transportation targets such as crowded train stations, commuter trains, subways, and buses has increased on a global scale, causing numerous casualties. For instance, in the New York subway attack of December 2017, a bomb was detonated in a subway passageway in midtown Manhattan between the Port Authority bus terminal and the Times Square subway station at 42nd Street. The use of advanced explosives has expedited the need for developing new scanning and detection systems to counter emerging threats. One such development is the launch of multiple explosive detection system models to meet the demand and specifications of law-enforcement and homeland security agencies.
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North America - Market size and forecast 2019-2024
APAC - Market size and forecast 2019-2024
Europe - Market size and forecast 2019-2024
MEA - Market size and forecast 2019-2024
South America - Market size and forecast 2019-2024
Key leading countries
Market opportunity by geography
Market drivers
Market challenges
Market trends
Vendor Landscape
Vendor landscape
Landscape disruption
Competitive scenario
Vendor Analysis
Vendors covered
Market positioning of vendors
American Innovations Inc.
Bruker Corp.
Chemring Group Plc
FLIR Systems Inc.
Hitachi Ltd.
L3 Technologies Inc.
Leidos Holdings Inc.
OSI Systems Inc.
Smiths Group Plc
Westminster International Ltd.
Appendix
Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations
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