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Mine Detection System Market Report Scope & Overview:

The Mine Detection System Market Size was valued at USD 5.63 billion in 2022 and is expected to reach USD 9.18 billion by 2030 with a growing CAGR of 6.3% over the forecast period 2023-2030.

Mine Detection Systems are used in defence and homeland security. The mine detection systems equipment sector is predicted to expand at a quicker CAGR due to increased procurement of mine detection systems equipment for the upgrade of different unmanned systems due to benefits such as mine detection and counter-IEDs. The expansion of the Mine Detection Systems market is predicted to fuel the expansion of the four platforms in proportion. During the forecast period, the market is projected to be driven by the need for unmanned marine vehicles on the battlefield for surveillance and my detecting capabilities.

Mine Detection System Market Revenue Analysis

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MARKET DYNAMICS

KEY DRIVERS

RESTRAINTS

  • Lack of accuracy

  • Technically skilled workforce

  • Extreme amount of data

OPPORTUNITIES

  • Demand for homeland security

  • Advancing IED detection

CHALLENGES

  • High Cost

  • Complexity

  • Increasing radiations

  • High skilled labour

THE IMPACT OF COVID-19

COVID-19 is an unexpected global public health crisis that has impacted nearly every business, and the long-term impacts are expected to have an influence industry growth throughout the projection period. Our continuing study expands our research methodology to include fundamental COVID-19 concerns and relevant next steps. The research provides insights on COVID-19 by taking into account changes in consumer behaviour and demand, purchasing patterns, supply chain re-routing, the dynamics of contemporary market forces, and substantial government initiatives. The revised report contains insights, analysis, estimates, and predictions based on the COVID-19 market effect.

IMPACT OF UKRAINE & RUSSIA CRISIS

We are constantly monitoring and updating reports on the political and economic uncertainties caused by Russia's invasion of Ukraine. Negative consequences are widely anticipated across the world, particularly in Eastern Europe, the European Union, Eastern and Central Asia, and the United States. This dispute has had a significant impact on people's lives and livelihoods, as well as caused significant disruptions in trade patterns. The possible implications of the ongoing war and instability in Eastern Europe are projected to have a negative influence on the global economy, with Russia bearing the brunt of the long-term consequences

COMPETITIVE LANDSCAPE

In terms of applications, markets, and regions to assist the vendor in defining an alignment or match between their strengths and future growth potential It describes the best or most advantageous fit for vendors to pursue consecutive merger and acquisition strategies, geographic expansion, research and development, and new product introduction methods in order to execute future company expansion and growth throughout a projection time.

KEY MARKET SEGMENTATION

By Technology

  • Radar Based

  • Laser Based

  • Sonar Based

By Deployment

  • Vehicle Mounted

  • Ship Mounted

  • Airborne Mounted

  • Handheld

By Upgrade

  • OEMs

  • MROs

By Application

  • Defence

  • Homeland Security

Mine Detection System Market Segmentation Analysis

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REGIONAL ANALYSIS:

North America is expected to lead the Mine Detection Systems market during the projected period. The rising focus on increasing investments in Mine Detection Systems technologies by nations in this region is driving the growth of the North America Mine Detection Systems market. Furthermore, factors such as rising geopolitical tensions and increased defense-related spending are projected to fuel demand for Mine Detection Systems in the area. Lockheed Martin Corporation, Northrop Grumman Corporation, L3Harris Technologies, Inc., and Raytheon Technologies Corporation are all well-known and important makers of Mine Detection systems in this region.

REGIONAL COVERAGE:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

KEY PLAYERS

The Key Players are BAE Systems Plc, Israel Aerospace Industries, Raytheon, Northrop Grumman Corporation, L-3 Communications Holdings Inc., Harris Corporation, General Dynamics Corporation, Schiebel Gmbh, DCD Group, Chemring Group Plc & Other Players.

Raytheon-Company Financial Analysis

Mine Detection System Market Report Scope:

Report Attributes Details
Market Size in 2022 US$ 5.63 Billion
Market Size by 2030 US$ 9.18 Billion
CAGR CAGR of 6.3% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Application (Defence and Homeland Security)
• By Deployment (Vehicle Mounted, Ship Mounted, Airborne Mounted and Handheld)
• By Upgradation (OEMs and MROs)
• By Technology
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles BAE Systems Plc, Israel Aerospace Industries, Raytheon, Northrop Grumman Corporation, L-3 Communications Holdings Inc., Harris Corporation, General Dynamics Corporation, Schiebel Gmbh, DCD Group, Chemring Group Plc
DRIVERS • Rising investment in R&D.
• Rising Insecurity.
• Digital battlefields.
RESTRAINTS • Lack of accuracy.
• Technically skilled workforce.
• Extreme amount of data.

Frequently Asked Questions

Mine Detection System Market Size was valued at USD 5.63 billion in 2022, and expected to reach USD 9.18 billion by 2030, and grow at a CAGR of 6.3% over the forecast period 2023-2030.

Demand for homeland security and Advancing IED detection

Lack of accuracy, Technically skilled workforce and Extreme amount of data.

We are constantly monitoring and updating reports on the political and economic uncertainties caused by Russia's invasion of Ukraine. Negative consequences are widely anticipated across the world, particularly in Eastern Europe, the European Union, Eastern and Central Asia, and the United States.

North America is expected to lead the Mine Detection Systems market during the projected period. The rising focus on increasing investments in Mine Detection Systems technologies by nations in this region is driving the growth of the North America Mine Detection Systems market.

Table of Contents

1. Introduction

1.1 Market Definition 

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

8. Mine Detection System Market Segmentation, By Technology

8.1 Radar Based

8.2 Laser Based

8.3 Sonar Based

9. Mine Detection System Market Segmentation,  By Deployment

9.1 Vehicle Mounted

9.2 Ship Mounted

9.3 Airborne Mounted

9.4 Handheld

10. Mine Detection System Market Segmentation,  By Upgrade

10.1 OEMs

10.2 MROs

11. Mine Detection System Market Segmentation,  By Application

11.1 Defence

11.2 Homeland Security

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2    Canada

12.2.3    Mexico

12.3    Europe

12.3.1    Germany

12.3.2    UK

12.3.3    France

12.3.4    Italy

12.3.5    Spain

12.3.6    The Netherlands

12.3.7    Rest of Europe

12.4    Asia-Pacific

12.4.1    Japan

12.4.2    South Korea

12.4.3    China

12.4.4    India

12.4.5    Australia

12.4.6    Rest of Asia-Pacific

12.5    The Middle East & Africa

12.5.1    Israel

12.5.2    UAE

12.5.3    South Africa

12.5.4    Rest

12.6    Latin America

12.6.1    Brazil

12.6.2    Argentina

12.6.3    Rest of Latin America

13. Company Profiles

13.1 HITACHI LTD.

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 AB VOLVO

13.3 CATTERPILLAR INC.

13.4 CNH INDUSTRIAL N.V

13.5 DEERE AND COMPANY

13.6 DOOSAN INFRACOE CO.LTD

13.7 J C BAMFORD EXCAVATORS. LTD.

13.8 KOMATSU LTD.

13.9 Liebherr-international AG

13.10 XCMG GROUP

14. Competitive Landscape

14.1 Competitive Benchmark

14.2 Market Share Analysis

14.3 Recent Developments

15. Conclusion

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

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This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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