The global explosive trace detection market size is expected to reach USD 2.36 billion by 2025, according to a study conducted by Grand View Research, Inc., registering a 10.5% CAGR during the forecast period. Rise in terrorist activities across the globe and increasing the adoption of explosive trace detectors in public safety and law enforcement sectors have bolstered market growth. These devices enable users to experience enhanced security and detection capabilities.
The growing interest of explosive trace detector companies such as Chemring Group PLC in capturing a larger market share in regions such as Middle East is expected to drive the adoption of explosive trace detectors. Additionally, increasing commercial activities are bolstering market growth in the region.
The Asia Pacific regional market is expected to witness considerable growth, owing to the increasing need for public safety. Stringent government regulations pertaining to security screening is also bolstering the market growth. Additionally, increased defense budgets in developing countries in the region are boosting the market.
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However, high costs pertaining to the development and maintenance of explosive trace detectors are expected to hinder market growth. Therefore, device providers are focusing on developing affordable solutions that can be used in other application sectors, such as utilities and transportation.
Further key findings from the study suggest:
• Handheld explosive trace detectors offer visual and audio alerts. Therefore, the segment is expected to exhibit the highest CAGR over the forecast period
• Demand for explosive trace detectors is expected to increase in the public safety and law enforcement segment owing to benefits such as real-time 3D color images offered by these detectors
• Asia Pacific is expected to emerge as the fastest-growing region over the forecast period due to increased adoption of explosive trace detectors by the transportation and logistics sector in the region
• Prominent industry participants include Chemring Group; FLIR Systems, Inc.; L3 Technologies, Inc.; OSI Systems, Inc.; and Smiths Detection Inc.
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Grand View Research has segmented the global explosive trace detection market based on product type, application, and region:
Explosive Trace Detection Product Type (Revenue, USD Million, 2014 - 2025)
• Handheld
• Vehicle-Mounted
• Other Detectors
Explosive Trace Detection Application Outlook (Revenue, USD Million, 2014 - 2025)
• Military & Defense
• Transportation & Logistics
• Public Safety & Law Enforcement
• Commercial
• Others
Explosive Trace Detection Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
o The U.S.
o Canada
• Europe
o The U.K.
o Germany
• Asia Pacific
o China
o Japan
o India
• South America
• MEA
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities