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Threat Detection System Market - Global Industry Analysis, Growth, Trends, Forecast Upto 2024

Press Release   •   Nov 22, 2016 06:17 EST

Security is often defined as a combination of confidentiality, integrity, and availability of assets. An attacker is named a “threat” and can be a human being or an autonomous computer program. The system deployed to detect this threat is called as threat detection system in order to ensure security of organization in an efficient manner. The key factor fuelling the demand for the threat detection system is increasing terrorist activities and government initiatives in order to protect public infrastructure such as airports, malls and railway stations among others. Threat detection system includes explosive detector, intrusion detector, radiological and nuclear detector, and others.

The global threat detection system market is driven by the growing demand for threat detection system due to increasing threat of terrorist activities, rising territorial conflicts, and geopolitical instabilities. Also, increasing need for large-scale surveillance systems is driving the demand for threat detection system. Moreover, high demand for threat detection devices such as explosive detectors, video surveillance systems, and biometric systems from airports and shopping malls in order to assure public safety is expected to boost the market growth. However, threat detection system does not really provide a cost-effective and/or operational response to the real need of the industry which is hindering the market growth, both in aviation security, and even more so in transportation and public security tasks. Also, Concerns over intrusion of privacy and technological limitations associated with the threat detection systems is expected to impact the adoption of threat detection system. Increasing demand for biometric systems from commercial establishments and demand for upgrading existing infrastructure with advanced security systems is expected to create new opportunities for the players operating in the threat detection market.

The global threat detection system market is segmented by product, application and geography. On the basis of product, the market can be segmented into dosimeter, laser, radar, video surveillance, and biometric. Among these, video surveillance is expected to dominate the market due to increasing need for reconnaissance at commercial places, industry premises, and public avenues. The market can also be classified on the basis of various applications, such as defense, public infrastructure, commercial, industrial, institutional and others including residential. The market segments in terms of geographical regions include North America, Europe, Asia-Pacific, South America, and Middle-East and Africa (MEA).

North America is expected to create growth opportunity for the players operating in the threat detection market, followed by Asia- Pacific and Europe. Moreover North America is witnessing a continuous increase in the research & development activities, particularly in high-energy laser system technologies owing to which, the region is expected to dominate the market during the forecast period. In North America, the U.S. is expected to lead the threat detection systems market in terms of revenue during the forecast period owing to government initiatives in this country.

Industry participants dominating the threat detection system market with the most significant developments are Smiths Group PLC, Safran S.A., FLIR Systems Inc., Thales S.A., Rapiscan Systems Inc., RAE Systems Inc., Chemring Group plc, ChemImage Sensor Systems, Mirion Technologies Inc., and Axis Communication AB among others.

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