On the basis of region, the market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. In North America, the presence of major manufacturers and increased defense expenses will boost the market growth. In Asia Pacific, the rise in maritime disputes and increased government spending by countries such as China will boost the market growth.
The global mine countermeasures market is estimated to witness a CAGR of 10% from 2018 to 2023.
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In 2012, Thales Group signed a contract with Autonomous Surface Vehicles Ltd (ASV Ltd) to develop a re-configurable Unmanned Surface Vehicle (USV) to meet the challenges of future off-board Mine Countermeasures (MCM) operations. In 2018, General Dynamics Corporation tested the U.S. Navy’s Surface Mine Countermeasure unmanned undersea vehicle system. In 2015, Harris Corporation signed a contract with IDIQ to support the U.S. Navy’s maritime mine countermeasure efforts.
Mine countermeasures are used to detect and counteract threats from enemy and work on a principle of sonar and acoustic systems, which navigate, detect and classify the targets. The government and defense bodies of different regions are developing technologies to counter mine threats from the enemy. The increase demand for advanced technologies to counter mines will enable manufacturers to offer new growth opportunities to the market players. However, there are some shortcomings, such as the some mines clearance process is complicated and costly as well as heavy equipment parts are difficult to handle during the operation, which will restrain the growth of this market. The market for global mine countermeasures is estimated to witness a CAGR of 10% during the forecast period.
The scope of the Report:
This study provides an overview of the Global Mine Countermeasures Market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC), Middle East & Africa, and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Mine Countermeasures by its technology, type, application, size, deployment, and region.
The key players in global mine countermeasures market are ASV Global (U.K), Eca Group (France), Hydro Group plc. (U.K), Fr. Lürssen Werft GmbH & Co. KG (Germany). Public.Navy.mil (U.S.), Armada International (Thailand), Harris Corporation (U.S.), HEINEN & HOPMAN (Netherland), and General Dynamics Corporation (U.S.).
Middle East & Africa
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