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  • Explosive Trace Detection Market Analysis | 2022-2028

    Explosive Trace Detection Market Analysis | 2022-2028

    Explosive Trace Detection Market Analysis | 2022-2028
    Report code - SR2129 Delivery - 2 Weeks
    Explosive Trace Detection Market Size, Share, Trend, Forecast, Competitive Analysis, and G See more...

    Market Insights

    The Explosive Trace Detection Market was estimated at US$ 1.3 billion in 2021 and is expected to grow at a CAGR of 10.7% during 2022-2028 to reach US$ ~4.9 billion in 2028.

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    What are explosives trace detectors?

    Explosive Trace Detectors (ETDs) are pieces of explosive detection equipment that can identify explosives in trace amounts. The location that has to be discovered is honed by looking at "trace" amounts of invisible particles. ETDs and other tools are also used to identify drugs. The equipment is mainly used in airports, essential locations, and helpless areas that are seen to be vulnerable to terrorist assaults.

    Explosive trace detectors come with cutting-edge capabilities like built-in GPS that provide users access to accurate target position information and the ability to save and share data with other users via wired and wireless connections to improve communication. They also give consumers access to crisp visuals of the items displayed on the touchscreen's color display. These tools make use of Ground Penetrating Radar (GPR) technology, which enables users to locate and recognize both organic and inorganic items, including explosives, narcotics, and drugs. Additionally, they include capabilities like expandable libraries that help users store vast amounts of data.

    Market Dynamics

    The market's expansion is projected to be hampered by factors including the high costs of developing and maintaining explosive trace detectors and the declining defence spending in wealthy nations. Furthermore, the business is anticipated to be hampered by strict government rules concerning security screening tools. A rise in demand for detectors is anticipated in the public safety and law enforcement sectors due to features like real-time 3D color pictures provided by this equipment. In the market for explosive trace detection, this category is anticipated to develop at the quickest rate.

    Explosive trace detectors provide features like LED indication lights, audio alerts, real-time sensor mapping, and longer battery life that make them perfect for use in transportation, commercial, military, and other industries. Consumers can benefit from increased safety thanks to these features. Through Wi-Fi networking, explosive trace detectors also deliver firmware updates, keeping the gadget up to date with the newest software.

    They have touchscreen LCD screens with battery-related information shown on them. Users may control device usage with the help of this function. Additionally, explosive trace detectors give users the ability to communicate data from a device via wired and wireless connections and save history files, improving communication.

    Covid-19 Impact

    The explosive trace detection (ETD) market growth forecasts up to 2028 are anticipated to be lower than pre-COVID-19 estimations. The global aviation, defense, and marine industries have all been severely harmed by the epidemic. Significant changes were made to the operations of the aviation and marine transportation sectors, which in turn affected the explosive trace detection (ETD) market's expansion. The decrease in demand for explosive trace detection (ETD) systems costs the manufacturers involved in sales in the commercial market.

    Globally, several governments are concentrating on limiting COVID-19 epidemics in their nations. As a result, they are spending more on medical technology and the creation or acquisition of vaccinations. As a result, over the upcoming years, it is anticipated that costs for new explosive trace detection (ETD) systems will be lower than those predicted before COVID-19. As the world economy steadily improves and related businesses (airlines, urban transportation networks, etc.) are permitted to function at a larger portion of their capacity, the demand is anticipated to reappear to pre-COVID levels in the forecast period.

    The stricter public safety standards and the expanding demand for aviation security are the main market drivers. Additionally, the market is expected to expand as a result of the rise in terrorist activities throughout the world, an increase in airline hijackings, and growing public concern for personal safety. The high initial cost of installation, however, is seen to be one of the main issues limiting the market's expansion.

    Explosive Trace Detection Market Features

    Market Size in 2028

    USD ~4.9 billion

    Market Size in 2021

    USD 1.3 billion

    Market Growth (2022-2028)

    10.7% CAGR

    Base Year of Study

    2021

    Trend Period

    2016-2020

    Forecast Period

    2022-2028

     

    Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market. Some of them are:

    • There is a greater emphasis on the dependability and cost-effectiveness of ETD systems as they become crucial to the safety and security against escalating terrorist activities globally. ETD systems have substantial acquisition and operating expenses, which not only limit market expansion but also pose difficulties for government initiatives to raise public safety standards generally. To fulfill the growing need for dependable and affordable ETD systems, the current manufacturers are investing in the creation of specialty products. Therefore, the market's participants have profitable potential as a result of the increased attention on the dependability and cost-effectiveness of ETD systems.
    • One of the key companies in the explosive trace detection (ETD) industry is Smiths Detection Group Ltd. The business provides security screening, threat detection, contraband, drugs, explosives, poisonous chemicals, and biological hazard protection against the threat and unauthorized movement of these items. The corporation, which has its headquarters in the UK, also has production sites in the US, Malaysia, France, and Germany. Some of these industrial sites double as their research and development centers. To better serve its consumers worldwide, the firm has sales and service facilities in 17 different nations.

    Segments Analysis

    By Technology Type

    Chemiluminescence (CL), ion mobility spectrometry (IMS), mass spectrometry (MS), thermo-redox, surface acoustic wave (SAW), chemical reagents, and ultraviolet fluorescence are the technological segments of the worldwide explosive trace detection (ETD) market. Due to the moderate pricing, the ion mobility spectrometry (IMS) market is anticipated to increase significantly throughout the projection period. Furthermore, these systems can function in natural settings. The ion mobility spectrometry (IMS) devices can also be used for swipe (particulate) and/or vapor detection.

    By Application Type

    Growing attention on increasing safety and security levels to drive commercial segment demand the commercial and military & defense segments of the worldwide explosive trace detection (ETD) market has been established based on application. Due to the increasing emphasis on boosting safety and security standards at locations including airports, railway stations, ports, retail markets, hospitals, and others, the commercial segment is predicted to have significant expansion in the next years.

    Regional Analysis

    North America has had rapid expansion in the market for explosive trace detection (ETD) systems over the past ten years, and it is anticipated that it will maintain its leadership position during the forecast period. Due to the US's high military expenditure, the US has been solely responsible for the explosive trace detection (ETD) systems market's booming expansion in North America. The US has historically and currently had the highest military spending and income levels worldwide. In addition to being the greatest military spender in the world, the nation is also home to the top producers and contractors of explosive trace detection (ETD) systems, making it the largest market for these devices.

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    Key Players

    There is stiff competition in the explosive trace detection market. The growth of the companies is directly dependent on industry conditions and government support. These companies differentiate their explosive trace detection based on their quality and penetration in the target and emerging markets. Also, some major mergers and acquisitions in the industry recently have significantly influenced the competitive dynamics. For example:

    • Future screening backlogs will be reduced because of a new storage unit that Rock-It Global installed at Heathrow Airport in January 2022. The business invested in the installation of X-ray equipment for onsite screening and an explosive trace detector (ETD) for dense goods.
    • Perth Airport improved its security measures for screening passengers in February 2022, adding an x-ray machine, explosive trace detecting technology, and a new body scan.

    The overall competitive landscape has been affected due to these mergers and acquisitions. The following are the key players in the explosive trace detection market:

    • American Innovations Inc. (US)
    • Biosensor Applications Sweden AB (Sweden)
    • Smiths Detection Group Ltd. (UK)
    • Nuctech Company Limited (China)
    • Analogic Corporation (US)
    • Leidos Holdings Inc. (US)
    • Teledyne FLIR LLC (US)
    • Chemring Group PLC (UK)
    • L3Harris Technologies Inc. (US)
    • OSI Systems Inc. (US)

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Explosive Trace Detection Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    Explosives Trace Detectors (ETDs) are pieces of explosive detection equipment that can identify explosives in trace amounts. The location that has to be discovered is honed by looking at "trace" amounts of invisible particles. ETDs and other tools are also used to identify drugs. The equipment is mostly used in airports, important locations, and helpless areas that are seen to be vulnerable to terrorist assaults.

    The explosive trace detection market is growing at a CAGR of 10.7% over the forecast period.

    The explosive trace detection market is likely to reach US$ ~4.9 billion in 2028.

    North America has had rapid expansion in the market for explosive trace detection (ETD) systems over the past ten years, and it is anticipated that it will maintain its leadership position during the forecast period.

    The key players in the market are American Innovations Inc. (US), Biosensor Applications Sweden AB (Sweden), Smiths Detection Group Ltd. (UK), Nuctech Company Limited (China), Analogic Corporation (US), Leidos Holdings Inc. (US), Teledyne FLIR LLC (US), Chemring Group PLC (UK), L3Harris Technologies Inc. (US), and OSI Systems Inc. (US).

    The market is studied from 2016-2028.

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