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Threat Detection Equipment Market Share

Report ID: GMI6278
Published Date: Jul 2023
Report Format: PDF

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Threat Detection Equipment Market Share

The threat detection equipment market is highly competitive owing to the presence of key players such as Smiths Detection and Leidos. Other prominent industry participants include:

Lockheed Martin Corporation, Inc,
Raytheon Technologies Corporation,
Smiths Group PLC.,
Thermo Fisher Scientific Inc

Industry participants are expected to increase their foothold in the commercial industry with growing investments in facility centers & acquisitions. Significant investments in R&D to gain technological competitiveness and aggressive business strategies including technological launches, collaborations & long-term agreements with clients to capture the market share are positively impacting the market.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Market size for threat detection equipment was USD 88 billion in 2022 and will record over 8% CAGR from 2023 to 2032 driven by emerging technologies, such as artificial intelligence (AI), machine learning (ML), data analytics, and IoT.

Threat detection equipment industry size from the spectrometry technology segment exceeded USD 9.5 billion in 2022 due to the higher need to offer high detection sensitivity in the identification & analysis of trace amounts of substances.

Threat detection equipment industry share from the military and defense & prison segment is the fastest growing segment in the market and holds a CAGR of over 9.5% during the forecast period driven by growing adoption in intelligence gathering & surveillance activities.

Asia Pacific market for threat detection equipment surpassed 22 billion in 2022 owing to increasing security concerns, rapid industrialization, infrastructure development, government initiatives, and technological advancements.