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Global Mine Detection System market estimated to grow at a CAGR of 7.9% from 2021 to 2028.

Global Mine Detection System market estimated to grow at a CAGR of 7.9% from 2021 to 2028.


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Ankush M

2 months ago | 2 min read

According to our latest market study on “Global Mine Detection System Forecast to 2028 – COVID-19 Impact and Global Analysis – by Deployment, Detection Capability, and End User,” the market is expected to grow from US$
4,870.78 million in 2021 to US$ 8,286.55 million by 2028; it is estimated to grow at a CAGR of 7.9% from 2021 to 2028.

The Middle East & Africa (MEA) mine detection system market is categorized into Saudi Arabia, South Africa, the UAE, and the Rest of MEA. The increased military expenditures are channeled into modern military resources, including equipment and vehicles. The rising conflicts across national borders have also boosted military expenditure. These factors are contributing to the growth of the MEA mine detection system market.


Apart from acquiring new and advanced mine detection systems, countries in the MEA have also strengthened their research & development expenditure for developing advanced mine detection systems. An international team at the Technology Innovation Institute (TII) in Abu Dhabi is developing a low-cost, simple-to-assemble rover that can identify unexploded landmines. Similarly, the UAE and Israel signed a contract in November 2021 to develop unmanned military and commercial vessels, which are likely to be integrated with intelligence, surveillance, and mine detection systems. South Africa accounted for a significant share in the Middle East & Africa mine detection system market due to its rise in military expenditure and the presence of mine detection system manufacturers across the country.

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Military forces, such as the US Army, have been using the Husky 2G for their mine detection activities for a few years. Similarly, Denel Mechem is a South African mine detection system market player, offering advanced mine detection equipment. These factors are further contributing to the growth of the South Africa mine detection system market. Saudi Arabia has the highest military expenditure across the region over the last decade according to the data published by SPIRI. The country utilizes a significant share of its military expenditure in acquiring and developing mine detection systems. For instance, in March 2022, at the World Defence Show (WDS)
2022 in Saudi Arabia, armoured and mine-detection vehicle specialist DCD demonstrated its explosives and landmine detection capabilities. Similarly, Saudi Arabia under the US FMS scheme acquired Husky 2G vehicle which is a vehicle-mounted mine detection vehicle back in 2017. These factors are expected to contribute to the growth of the Saudi Arabia mine detection system market.

Key Findings of Study: Mine Detection System Market Growth

The global mine detection system market is segmented into five major regions—North America, Europe, APAC, MEA, and SAM. North America dominated the mine detection system market in 2020; it is also expected to continue its dominance during the forecast period. Europe held the second-largest share in the global mine detection system market, followed by
APAC, MEA, and SAM. Based on deployment, the handheld segment led the mine detection system market with a share of more than ~75% in 2020.

Few of the important market initiatives from the industry are mentioned below:

2021 Raytheon Missiles & Defense demonstrated the AN/AQS-20C sonar mine-hunting system in an exercise at Narragansett Bay in Rhode Island for the United Kingdom and other potential international customers.

2020 Northrop Grumman Corporation’s AQS-24 mine hunting sonar completed initial in-water testing of a next-generation Deploy and Retrieval & payload. Operated from the Mine Countermeasures Unmanned Surface Vessel (MCM USV)



NORTHROP
GRUMMAN CORPORATION; L3HARRIS TECHNOLOGIES, INC.; ISRAEL AEROSPACE INDUSTRIES
LTD.; MBDA, AND BAE SYSTEMS. - PROMINENT MARKET PARTICIPANTS IN MINE
DETECTION SYSTEM MARKET













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