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
Market Size Value in US$ 4,870.78 Million in 2021 Market Size Value by US$ 8,286.55 Million by 2028 Growth rate CAGR of 7.9% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Mine Detection System Market: Strategic Insights
| Market Size Value in | US$ 4,870.78 Million in 2021 |
| Market Size Value by | US$ 8,286.55 Million by 2028 |
| Growth rate | CAGR of 7.9% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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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 Report Scope
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Deployment, Detection Capability, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America region dominated the mine detection system market in 2023.
The rise in procurement of mine detection systems and rising number of terrorist incidents are some of the factors driving the growth for mine detection system market.
Increasing demand from homeland security agencies is one of the major trends of the market.
MBDA, BAE Systems Plc, Chemring Group PLC, DCD Ltd, Israel Aerospace Industries Ltd, L3Harris Technologies Inc, Mine Kafon LAB, Northrop Grumman Corporation, Raytheon Technologies Corporation, and Scheibel Corporation are some of the key players profiled under the report.
The estimated value of the mine detection system market by 2031 would be around US$ 9.88 billion.
The mine detection system market is likely to register of 8.1% during 2023-2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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