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Explosive Detectors Market Trace Detectors Segment is Expected to Grow at the Highest Rate – Forecast 2020


The Explosive Detectors Market size, in terms of value, is estimated to grow from USD 3.56 Billion in 2015 to USD 6.12 Billion by 2020, at a CAGR of 11.4% between 2015 and 2020. Although the market is currently dominated by the bulk detectors technology, the trace detectors segment is expected to grow at the highest rate during the forecast period. This report forecasts the market size and future growth potential of the explosive detectors market across different segments such as technology, product types, verticals, and region. The base year considered for the study is 2014 and the market size forecast is provided for the period between 2015 and 2020.
The research methodology used to estimate and forecast the explosive detectors market begins with capturing data on key vendor revenues through secondary research. The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global explosive detectors market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments which are then verified through primary research by conducting extensive interviews with key industry people including CEOs, VPs, directors and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.
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Key Target Audience
  • Hardware & software manufacturers
  • Government and financial institutions
  • Distributors and retailers
  • Managed security service providers
  • Research organizations
  • Consulting firms
The explosive detectors are being increasingly used in various verticals, such as military and defense, cargo & transport, aviation, public places, commercial, and others which have led to the growth of the market across the globe. The commercial sector is expected to grow at the highest rate between 2015 and 2020 in the explosive detectors market. The market is also expected to witness growth in the public places and aviation verticals during the forecast period.
With the emergence of new cyber threats, the defense budgets of governments worldwide are getting hampered, and thus the government spending on explosive detectors is decreasing. This high spending toward cyber threats limits the funds for research and development of better explosive detectors, as the same funds are diverted toward the protection of information. The key players in the market include Smiths Detection, Morpho Detection, L-3 Communication, OSI Systems, and Nuctech among others. These players have adopted various strategies such as partnerships, agreements, contracts, mergers and acquisitions, and new product developments to achieve growth in the global explosive detectors market.
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