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.
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Technavio has announced its latest market research report titled Global Explosive Trace Detection (ETD) Market 2020-2024 (Graphic: Business Wire)
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.
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Report Highlights:
- 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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Explosive Trace Detection (ETD) Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist explosive trace detection (ETD) market growth during the next five years
- Estimation of the explosive trace detection (ETD) market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the explosive trace detection (ETD) market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of explosive trace detection (ETD) market vendors
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Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- IBSPS Market size and forecast 2019-2024
- Defense Market size and forecast 2019-2024
- ATLS Market size and forecast 2019-2024
- Market opportunity by Application
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- 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
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201023005029/en/
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