Threat Detection Systems Market by Type (Explosive Detection, Radiological and Nuclear Detection, Narcotics Detection, Chemical and Biological Detection, Intrusion Detection, and Others), by Product (Personal Radiation Detectors, Dosimeters, Photo Ionization Detectors, Chemical Agent Detectors, Biological Agent Detectors, Laser Systems, Radar Systems, Video Surveillance Systems, Perimeter Intrusion Detection Systems, Wideband Wireless Communication Systems, Biometric Systems, and Others), and by Application (Defense, Public Infrastructure, Commercial, Industrial, and Residential): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Global threat detection systems market expected to reach USD 163.4 billion by 2025, at a CAGR of around 12.8% between 2019 and 2025. The rising number of terror attacks at commercial places has led manufacturers to develop technologically advanced security systems.

24-May-2019 | Number of pages: 187 | Report Code: ZMR-638 | Report Format : | Status : Published

Analysis

The threat detection systems market is expected to grow in the future, owing to the strict government regulations at various public places. The demand for security systems, such as closed alarm systems, circuit television (CCTV) systems, and access control systems, is on the rise to safeguard citizens against terrorism, theft, damage, and other such incidents. Furthermore, the rising investments made in public security systems are also fueling the threat detection systems market. In 2019, the U.S. “Department of Homeland Security” estimated a security budget worth USD 51.7 billion for the fiscal year 2020 as compared to USD 47.5 billion for the fiscal year 2019.

The rising number of terror attacks at commercial places has led manufacturers to develop technologically advanced security systems. Various commercial outlets, such as malls, cafes, and theaters, are focusing on using technically advanced systems to prevent any mishaps. In 2018, retail giant, Walmart, announced that it has tested facial recognition technology for its security systems. However, the high initial investment may have an adverse effect on this market’s growth. Alternatively, the adoption of biometrics security systems in consumer electronics is anticipated to open new growth avenues for the market in the upcoming years.

Global Threat Detection Systems Market

By type, the global threat detection systems market is fragmented into explosive detection, radiological and nuclear detection, narcotics detection, chemical and biological detection, intrusion detection, and others. The narcotics detection segment is projected to hold a substantial market share in the years ahead, owing to the rising product demand at airports and other transportation routes. By product, the global threat detection systems market includes dosimeters, personal radiation detectors, photo ionization detectors, biological agent detectors, chemical agent detectors, radar systems, laser systems, video surveillance systems, wideband wireless communication systems, perimeter intrusion detection systems, biometric systems, and others. The video surveillance systems segment is expected to grow considerably in the future, owing to the increasing demand for surveillance cameras in developing economies of the Asia Pacific region. The application segment of the market comprises public infrastructure, residential, industrial, commercial, and defense.

By region, Asia Pacific is estimated to hold a substantial share of the global threat detection systems market in the years ahead. India, South Korea, and China are anticipated to make notable contributions to this regional market, owing to the increasing awareness and rising adoption of security systems in commercial places. The North American threat detection systems market, being the most technically advanced region, is anticipated to grow significantly in the future, due to the presence of leading market organizations, such as RAE Systems, FLIR Systems, etc.

Some noticeable players of the global threat detection systems market are Smiths Group, Safran, Thales, RAE Systems, FLIR Systems, Mirion Technologies, Rapiscan Systems, AXIS Communications, Chemring Group, and Chemimage Corporation.


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