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About this market
The rapid increase in air passenger numbers has resulted in significant changes in the standard operating procedure (SOP) of airport terminals as they need to manage this growth with minimum capacity constraints while ensuring no lapses in security protocols. Terror threats have augmented the level of security at various checkpoints, resulting in the incorporation of advanced machinery to perform rapid scanning of people and baggage for explosives and other threats such as chemical weapons. Hence, companies are expanding their product offerings with compact systems to ensure minimal installation constraints in tight spaces at various entry and exit points in an airport. Thus, the growing adoption of advanced automated scanning systems will significantly contribute to the global ETD market during the forecast period. analysts have predicted that the explosive trace detection (ETD) market will register a CAGR of almost 11% by 2023.
Market Overview
Evolution of concealment techniques used by terror organizations
Global transport systems are targeted by terrorist organizations for inflicting mass casualties and causing substantial damage to the economy of a country. The frequency of terrorist attacks at surface transportation targets such as crowded train stations, commuter trains, subways, and substances. Increasing procurement levels are, therefore, expected to boost the global ETD market during the forecast period.
Confidence breach due to sale of counterfeit products
The global ETD market is subjected to global criticism due to the scams that the market witnessed during the last decade. The instances of widespread sales of counterfeit detectors to security agencies of various countries have lowered the level of confidence on the authenticity of handheld products. Moreover, the low trust levels have reduced the number of contracts placed for such devices, which, in turn, have limited the growth opportunities for the global ETD market.
For the detailed list of factors that will drive and challenge the growth of the explosive trace detection (ETD) market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be highly fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
The rapid increase in air passenger numbers has resulted in significant changes in the standard operating procedure (SOP) of airport terminals as they need to manage this growth with minimum capacity constraints while ensuring no lapses in security protocols. Terror threats have augmented the level of security at various checkpoints, resulting in the incorporation of advanced machinery to perform rapid scanning of people and baggage for explosives and other threats such as chemical weapons. Hence, companies are expanding their product offerings with compact systems to ensure minimal installation constraints in tight spaces at various entry and exit points in an airport. Thus, the growing adoption of advanced automated scanning systems will significantly contribute to the global ETD market during the forecast period. analysts have predicted that the explosive trace detection (ETD) market will register a CAGR of almost 11% by 2023.
Market Overview
Evolution of concealment techniques used by terror organizations
Global transport systems are targeted by terrorist organizations for inflicting mass casualties and causing substantial damage to the economy of a country. The frequency of terrorist attacks at surface transportation targets such as crowded train stations, commuter trains, subways, and substances. Increasing procurement levels are, therefore, expected to boost the global ETD market during the forecast period.
Confidence breach due to sale of counterfeit products
The global ETD market is subjected to global criticism due to the scams that the market witnessed during the last decade. The instances of widespread sales of counterfeit detectors to security agencies of various countries have lowered the level of confidence on the authenticity of handheld products. Moreover, the low trust levels have reduced the number of contracts placed for such devices, which, in turn, have limited the growth opportunities for the global ETD market.
For the detailed list of factors that will drive and challenge the growth of the explosive trace detection (ETD) market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be highly fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
