Mine & IED detection system market is estimated to register a CAGR of 5.5% during the forecast period

September 2022/ Research report on the global mine & IED detection system market.

Market Highlights

Mine & IED Detection System Market Size Valued at USD 5.9 Billion, market Grow at a CAGR Of 5.5% by 2020 -2030

The mine & IED detection system is used for rapid clearance operations. Various types of mine & IED detection technologies, such as acoustic sensors, chemical sensors, electromagnetic sensors and radar technology, ground penetrating radar, and thermal detection, are used to detect landmines. Therefore, mine & IED detection system sales are expected to rise significantly during the forecast period.

The factors driving the growth of the market are rise in military land clearance operations and advancement in sensor technology in the defense sector. The detection technology can detect both IEDs and traditional Anti-Tank (AT) mines. As a result, there has been an increasing usage of mine & IED detection system. However, the high cost of mine & IED detection system and declining defense expenses are restricting their implementation.

The market in North America is expected to witness the highest growth during the forecast period. The continuous demand for mine & IED detection equipment from the U.S. military to tackle conflicts are the major reasons for the high growth of this market. The growing adoption of mine & IED detection equipment in countries such as the U.S. and Canada are expected to contribute to the growth of the regional market.

Key Players

The key players in the mine & IED detection system market are BAE Systems Plc (U.K), Israel Aerospace Industries (Israel), Raytheon (U.S.), Northrop Grumman Corporation (U.S.), L-3 Communications Holdings Inc. (U.S.), Harris Corporation (U.S.), General Dynamics Corporation (U.S.), Schiebel Gmbh (Vienna), DCD Group (South Africa), Chemring Group Plc (U.K).