Mine Detection System Market Overview, Growth, Trends, Analysis, Research Report (2021-2031)

The mine detection system market size is projected to reach US$ 9.88 billion by 2031 from US$ 5.29 billion in 2023. The market is expected to register a CAGR of 8.1% during 2023–2031. Increasing demand from homeland security agencies is likely to remain a key trend in the market.

Mine Detection System Market Analysis

The mine detection systems are among the highly demanded products in the defense and homeland security forces. This is due to the importance of the systems toward a nation’s security. The defense forces rely heavily on the well-established mine detection system market players. The higher dependence of the major defense contractors reflects higher number of contracts awarded to the contractors. Due to this, the entrance to the market for smaller or regional mine detection system market players is restricted. This factor has been analyzed to understand the threat to new entrants in the mine detection system.

Mine Detection System Market Overview

The major stakeholders in the global mine detection system market ecosystem include components, mine detection system manufacturers, and end users. Mine detection system component suppliers provide products such as electromagnetic sensors, radars, optical sensors, and thermal detection systems. Any disruption in the supply of the components negatively impacts the production of the final product. Thus, the component manufacturers play a crucial role in the mine detection system market ecosystem.

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Mine Detection System Market: Strategic Insights

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Mine Detection System Market Drivers and Opportunities

Rise in Procurement of Mine Detection Systems

The frequency of armed conflicts between countries is increasing at an alarming rate, prompting a higher need for nation's defense forces to strengthen their security measures. Additionally, both developed and developing nations have experienced a significant rise in military expenditure over the years. For instance, according to the data published by Stockholm International Peace Research Institute (SIPRI), in 2022, the global military expenditure experienced a rise of 8.4% compared to 2019. A substantial portion of the budget allocation is defined toward the procurement of countermeasure technologies, including mine detection systems across different armed forces and law enforcement agencies.

Integration of Mine Detection Systems with Unmanned Systems

Mine countermeasures are undergoing a major transformation, owing to the evolution of disruptive technologies, from traditional mine hunting with grey ship minehunters to unmanned autonomous vehicle utilization for the same. Unmanned and autonomous systems that operate above and below the water have steadily progressed over the previous decade, reaching degrees of maturity that are now capable of being used as a mine detector. Ensuring the safety of naval personnel and keeping them out of casualty are the most critical aspects of mine countermeasures. The use of unmanned and autonomous technologies is a huge step forward in this arena. This has influenced companies such as Thales group to offer mine detection products that can be easily integrated with unmanned autonomous vehicles.

Mine Detection System Market Report Segmentation Analysis

Key segments that contributed to the derivation of the mine detection system market analysis are deployment, detection capability, and end user.

• Based on deployment, the mine detection system market is bifurcated into vehicle mounted and handheld. The handheld segment held a larger market share in 2023.
• Based on detection capability, the mine detection system market is divided into above surface and underground. The underground segment held a larger market share in 2023.
• Based on end user, the mine detection system market is segmented into defense and homeland security. The defense segment held a larger market share in 2023.

Mine Detection System Market Share Analysis by Geography

The geographic scope of the mine detection system market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.

North America has dominated the market in 2023 followed by Europe and Asia Pacific regions. Further, Asia Pacific is also likely to witness highest CAGR in the coming years. The US dominated the North America mine detection system market in 2023. The US has the largest defense budget across the world and a significant amount of budget is contributed for the procurement and upgradation of various weapons system. This showcases the demand for the procurement of new mine detection system, which highlights the growth of the market. An increasing number of weapons in the US military services is major supporting factor for the market growth as companies are developing advanced weapon systems to prevent ground, underwater, and aerial attack. Further, the rising improvement in navy weapon system with enhanced penetration of mine detection system is key factor augmenting market growth.

Mine Detection System Market Regional Insights

The regional trends and factors influencing the Mine Detection System Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Mine Detection System Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Mine Detection System Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Mine Detection System Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Mine Detection System Market are:

1. MBDA
2. BAE Systems
3. Chemring Group PLC
4. DCD Ltd.
5. Israel Aerospace Industries Ltd.

Disclaimer: The companies listed above are not ranked in any particular order.

Mine Detection System Market News and Recent Developments

The mine detection system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the mine detection system market are listed below:

• Northrop Grumman Corporation (NYSE: NOC) has been awarded a contract by Korea Aerospace Industries, Ltd. (KAI) to provide Airborne Laser Mine Detection System (ALMDS) solutions and technical support for the Engineering, Manufacturing and Design (EMD) phase of the Republic of Korea’s Korean Mine Countermeasures Helicopter (KMCH) program. The EMD phase is expected to be completed in 2027. (Source: Northrop Grumman Corporation, Press Release, Oct 2023)
• Raytheon Missiles & Defense demonstrated the AN/AQS-20C sonar mine-hunting system in an exercise at Narragansett Bay in Rhode Island for the United Kingdom and other potential international customers. (Source: Raytheon Technologies Corporation, Press Release, 2021)

Mine Detection System Market Report Coverage and Deliverables

The “Mine Detection System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Mine detection system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Mine detection system market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed porter’s five forces analysis
• Mine detection system market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the mine detection system market
• Detailed company profiles