According to MarketsandMarkets Mine detection Systems market is projected to grow from an estimated USD 5.2 billion in 2021 to USD 6.9 billion by 2026, at a CAGR of 6.2% in terms of value during the forecasted period. It is witnessing significant growth due to increasing new technologies and demand of going Mine Detection Systems. The North American region will dominate the market due to the growing investments in Mine Detection Systems.
Get Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=58068280
Based on Deployment, the ship mounted segment is projected to grow at the highest CAGR during the forecast period.
The growth in the Mine Detection Systems market is expected to drive the growth of the four platforms proportionately. The requirement of unmanned marine vehicles in battlefield for surveillance and mine detection capabilities are expected to drive the market during the forecast period.
Based on upgradation, the OEMs segment is projected to grow at the highest CAGR during the forecast period.
Based on upgradation, OEMs segment is projected to grow at the highest CAGR during the forecast period. The requirement of advanced systems in mine detection helps in reducing human loss and increasing capabilities, and investments in R&D towards these systems are helping the growth of the market for Mine Detection Systems.
Based on technology, the Sonar based Systems segment is projected to grow at the highest CAGR during the forecast period.
Growing demand for mine detection systems in marine platform due to their high demand for applications in mine detection using acoustic techniques are projected to increase the growth of the Mine Detection Systems market.
The North America region is estimated to lead the Mine Detection Systems market in the forecast period
The North American region is estimated to lead the Mine Detection Systems market in the forecast period. The growth of the North America Mine Detection Systems market is primarily driven by increasing focus on increasing investments in Mine Detection Systems technologies by countries in this region. In addition, factors including increasing geopolitical tensions and increased defense-related expenditure are expected to drive the demand for Mine Detection Systems market in the region.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Israel Aerospace Industries Ltd. (Israel), Raytheon Technologies Corporation (US), Thales Group (France), L3Harris Technologies, Inc. (US), BAE Systems (UK), and Elbit System (Israel).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Full Report @ https://www.marketsandmarkets.com/Market-Reports/mine-detection-systems-market-58068280.html
Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com
Comments