Fortune Business Insights™ lists out the names of all the explosive detectors manufacturers operating in the global market. They are as follows:
American Science & Engineering, Inc. (The U.S.)
Analogic Corporation. (The U.S.)
Chemring Group PLC (The U.K.)
Flir Systems, Inc. (The U.S.)
Implant Sciences Corporation (ISC) (The U.S.)
Drivers & Restraints-
Increasing Terrorist Activities to Boost Growth
The rising adoption of automatic security equipment across the globe is one of the notable drivers for the explosive detectors market growth. It is being extensively used for the detection of explosives in small objects. Apart from that, the increasing terrorist activities in various countries would also surge the demand for explosive detectors. However, the decreasing government expenditure on explosive detectors and the rising concerns about cyber threats may hamper the growth of the market for explosive detectors.
Rising Presence of Reputed Explosive Detectors Providers to Favor Growth in North America
Based on region, North America is anticipated to dominate throughout the forthcoming years by generating the largest explosive detectors market share. This growth is attributable to the presence of a large number of prominent organizations, namely, L-3 Communications Holdings, Inc., Implant Sciences Corporation (ISC), Flir Systems, Inc., Analogic Corporation, and American Science & Engineering, Inc. in the U.S.
Asia Pacific, on the other hand, is set to exhibit fast growth in the near future stoked by the rising government initiatives to encourage people to use explosive detectors in China. The country is set to install these devices at the airport. Europe is expected to show a remarkable growth on account of the rising terrorist activities in France. The Middle East & Africa would grow steadily backed by the rising infrastructural development of the international airport.
Key Players Focus on Gaining New Contracts from Renowned Enterprises
The market for explosive detectors houses several companies that are presently striving to gain a competitive edge by bagging new contracts from regulatory bodies or prominent organizations worldwide. Below are two of the latest industry developments:
September 2019: The Transportation Security Administration (TSA) provided a contract worth USD 96.8 million to Smiths Detection Inc. It would enable Smiths to deliver Computed Tomography (CT) 3-D Scanners and HI-SCAN 6040 CTiXs.
April 2019: Smiths Detection’s distributor Dainippon bagged a contract from Ezeiza International Airport situated in Argentina to offer a high-speed explosives detection system.