Mine Detection System Market Industry Analysis, Size, Share, Growth, Trend And Forecast 2028

According to Premium Market Insights new research study on "Global Mine Detection System Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Deployment, Detection Capability, and End User," the market is expected to grow from US$ 4,870.78 million in 2021 to US$ 8,286.55 million by 2028; it is estimated to grow at a CAGR of 7.9% from 2021 to 2028.

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Some Of the Major Players Influencing are MBDA; BAE Systems; 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 among the key players operating in the global mine detection system market.

The mine detection system market is seeing growth due to increased usage of these systems for instant area clearance and mine detection in response to rising security threats and border disputes. There are various types of landmines, such as blast, directional fragmentation, bounding fragmentation, omnidirectional fragmentation, anti-vehicle, butterfly, and anti-personal mines. Sea mines, which include ground, moored, and contact mines, are placed to destroy submarines or surface ships. As a result, military forces, border security forces, and paramilitaries are procuring advanced mine detectors from various manufacturers. The demand for mine detection systems is also rising among emerging economies such as Afghanistan, the US, Iran, and India due to the increasing threats from mines. Homeland Security is one of the key end-users of these systems. For example, Border Security Forces (BSF) in Odisha, India, recently used a handheld mine detector to detect IEDs placed on an under-construction roadside pavement in November 2021. All these factors are contributing to the growth of the mine detection system market.
The mine detection system market is growing due to increasing investments in mine detection technologies in North America, driven by the rise in terrorist activities. Key players in the North American market include L3Harris Technologies, Inc., Northrop Grumman Corporation, Raytheon Technologies Corporation, and Lockheed Martin Corporation. The market is the second largest globally in Europe, propelled by a rise in border disputes and security threats. The European Commission selected the consortium led by Naval Group Belgium for the Mine Risk Clearance for Europe (MIRICLE) project in July 2021. Major companies operating in the European market include BAE Systems, MBDA, and Scheibel Corporation. The APAC market is expected to grow at the highest CAGR during the forecast period as countries adopt various strategies to reduce the threat of all mines. For instance, South Korea's Defense Acquisition Program Administration awarded Hanwha Systems a contract to produce a new man-portable mine detection system in October 2021. In addition, Japanese defense equipment manufacturer IHI Corporation introduced an autonomous underwater mine detection system in 2019. These factors drive the growth of the mine detection system market in the APAC region.

The COVID-19 pandemic had a considerable impact on the military capabilities of European countries as it affected armed forces personnel. Given that the military is a crucial part of Europe's national crisis response system, there has been a significant demand for mine detection systems initially for general military support, including logistics, disinfection of public spaces, and support for police and internal security in some countries. However, in FY 2020, the defense and homeland security forces in Europe were highly required for advanced combat or security-related technologies for military operations. Additionally, some European countries have revealed plans to acquire and invest in defense technologies for their respective armed forces, which is expected to drive the growth of the mine detection system market in the forecast period. For instance, Sweden issued a tender in 2020 to procure mine detectors for the Swedish Armed Forces.

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The mine detection system market is segmented on the basis of deployment, detection capability, and end user. Based on deployment, the market is bifurcated into vehicle mounted and handheld. In 2021, the handheld segment led the market and accounted for a larger market share. Based on detection capability, the market is bifurcated into above surface and underground. In 2021, the underground segment led the market and accounted for a larger market share. Based on end user, the mine detection system market is bifurcated into defense and homeland security. In 2021, the defense segment led the market and accounted for a larger market share. By geography, the mine detection system market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South and Central America (SAM). In 2021, APAC accounted for a significant share of the global mine detection system market.

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The global market size of mine detection system has been determined by using a combination of primary and secondary research sources. The research process began with comprehensive secondary research that involved gathering qualitative and quantitative information from both internal and external sources related to the mine detection system market. This step aimed to provide an overview and forecast for all the market segments. Additionally, multiple primary interviews were conducted with industry participants, including VPs, business development managers, market intelligence managers, national sales managers, external consultants, research analysts, and key opinion leaders, to validate the data and gain more analytical insights into the topic. The research involved a broad range of experts specializing in the mine detection system market.

Table Of Contents
1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Mine Detection System Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
5. Mine Detection System Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 New Product Development
5.1.2 Rise in Procurement of Mine Detection Systems
5.2 Market Restraints
5.2.1 Low Adoption Across Developing Countries and False Alarms
5.3 Market Opportunities
5.3.1 Integration of Mine Detection Systems with Unmanned Autonomous Vehicles
5.4 Future Trends
5.4.1 Use of Honeybees for Mine Detection
5.5 Impact Analysis of Drivers and Restraints
6. Mine Detection System Market - Global Analysis
6.1 Mine Detection System Global Overview
6.2 Mine Detection System Market Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Five Key Players
Continued…...!

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