Ship-mounted market segment expected to grow
New York, October 07, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Mine Detection System Market by Application, Deployment, Technology, Upgradation And Region – Global Forecast to 2026” – https: // www .reportlinker. com / p06169600 /? utm_source = GNW
The mine detection systems market includes major players such as Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Israel Aerospace Industries Ltd. (Israel), Raytheon Technologies Corporation (United States), Elbit Systems (Israel), L3Harris Technologies, Inc. (United States), Leonardo SPA (Italy), BAE Systems (United Kingdom), Aselsan AS (Turkey) and Textron Systems (United States). These players have extended their activities to various countries, including North America, Europe, Asia-Pacific, Middle East and Africa and Latin America.
The segment of the ship mounted market is expected to grow at the highest CAGR from 2021 to 2026.
The growth of the mine detection systems market is expected to proportionately drive the growth of the four platforms. The requirement of unmanned marine vehicles on the battlefield for mine monitoring and detection capabilities is expected to drive the market during the forecast period.
On the basis of the upgrade, the OEM segment is expected to grow at the highest CAGR during the forecast period.
On the basis of the upgrade, the OEM segment is expected to grow at the highest CAGR during the forecast period. The requirement for advanced mine detection systems helps reduce loss of life and increase capacity, and R&D investments towards such systems are helping to grow the market for mine detection systems.
On the basis of technology, the segment of sonar based systems is expected to grow at the highest CAGR during the forecast period.
Rising demand for mine detection systems in marine platforms due to their high demand for mine detection applications using acoustic techniques is expected to increase the growth of mine detection systems market.
North America Region Expected to Dominate Mine Detection Systems Market in 2021
The North American region is estimated to dominate the mine detection systems market during the forecast period. The growth of the North America mine detection systems market is mainly due to the increased focus on increasing investments in mine detection systems technologies by countries in this region.
Additionally, factors such as increasing geopolitical tensions and increasing spending related to defense are expected to drive demand for the mine detection systems market in the region. Well-established and prominent manufacturers of mine detection systems in this region include Lockheed Martin Corporation (United States), Northrop Grumman Corporation (United States), L3Harris Technologies, Inc. (United States), and Raytheon Technologies Corporation (United States). -United).
The profile breakdown of the major players in the Mine Detection Systems Market is as follows:
• By type of business: Level 1 – 55%; Level 2 – 20%; and level 3 – 25%
• By designation: C-level executives – 75%; Directors – 25%;
• By region: North America – 20%; Europe – 25%; Asia-Pacific – 30%, Middle East and Africa – 15%, Latin America – 10%
The major players in the mine detection systems market are Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), L3Harris Technologies, Inc. (US), Israel Aerospace Industries Ltd. (Israel) Raytheon Technologies Corporation (United States), BAE Systems (United Kingdom), Leonardo SPA (Italy) and Elbit Systems (Israel).
This market research covers the Mine Detection Systems market in various segments and sub-segments. It aims to estimate the size and growth potential of this market across different segments based on deployment, upgrade, application, technology, and region.
This study also includes an in-depth competitive analysis of key market players, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies that they adopted.
Reasons to buy this report
This report is expected to assist market leaders / new entrants by providing them with the closest approximations to revenue figures for the overall Mine Detection Systems market and its segments. This study is also expected to provide regional information on the applications in which mine detection systems solutions are used.
It also aims to help stakeholders understand the competitive landscape of the market, gain insight to improve the position of their companies, and plan appropriate go-to-market strategies. This report is also expected to help them understand the market pulse and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the Mine Detection Systems market.
The report provides information on the following pointers:
• Market penetration: comprehensive information on mine detection systems products / solutions offered by the best players in the market
• Product Development / Innovation: Detailed information on upcoming technologies, research and development activities and new product launches in the mine detection systems market.
• Market development: Comprehensive insights into lucrative markets – the report analyzes the mine detection systems market across various regions.
• Market diversification: Comprehensive information on new products, untapped geographies, recent developments and investments in the Mine Detection Systems Market
• Competitive Assessment: In-depth assessment of the market shares, growth strategies, products, and manufacturing capabilities of the major players in the Mine Detection Systems market
Read the full report: https://www.reportlinker.com/p06169600/?utm_source=GNW
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