Gunshot Detection System Market Size, Share, Emerging Trends, Segments, Future Growth Plan, Gross Margin, Latest Innovation, Business Strategy, and Global Forecast 2019 to 2023
Also known as gunfire locator system, a gunshot detection system detects the location of gunfire via acoustic, optical, or other sensors. Market Research Future (MRFR) has published a research report about the global gunshot detection system market that anticipates progress for this market at 20% CAGR (Compound Annual Growth Rate) between 2018 and 2023.
Gunshot Detection System Market Highlights:
Over the years, there has been a large demand for the gunshot detection systems, primarily due to the increasing number of firearm related crimes such as mass shooting, VIPs being gunned down, among others, across the globe. Gunshot detection system Market is estimated to register a CAGR of over 20% during the forecast period of 2018 to 2023.
In the recent years, the number of such violent incidents is on the rise and are unreported in a large number of cases. Therefore, it has become very essential for the government authorities as well as the law enforcement agencies to provide effective solutions and prevent such incidents.
The primary factor supporting the growth of global gunshot detection system market is the increasing a number of firearms all over the world. Other factors contributing to the market growth are reducing gunfire casualties and lastly, the growing use of gunshot detection system by law enforcement agencies.
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Gunshot Detection System Market Segments:
The global gunshot detection system market can be segmented on the basis of end user, installation type, product type, and lastly, region. In the context of the end user, this market has been segmented into homeland security personnel and military forces. The military segment has the largest market share, and by 2023, homeland security segment would emerge as the fastest growing market segment.
By installation type, the market can be segmented into a fixed system, portable system, and vehicle mounted system. Fixed system segment dominates the market because acoustic sensor node technology use is helpful in gunshot detection. However, the portable system segment can emerge as the fastest growing market segment by the end of the forecast period because today defense authorities and law enforcement agencies prefer the portable/wearable technologies.
Regarding product type segmentation, the market can be segmented into indoor and outdoor. Outdoor segment always dominated the global market, and this is not going to change during the forecast period. The main reason for the status quo is the increase in violence on the streets, at the national borders, and political gatherings, among others.
The regional segmentation of the global gunshot detection system market segments the market into the regional markets known as Asia Pacific, Latin America, North America, Europe, and the Middle East & Africa (MEA). North America has always been the largest regional market due to the large production as well as sales of firearms, the presence of key market players, and the growth in gunfire incidents in the USA. In the USA, firearms are also easily available because the right to bear arms is a fundamental right in the USA. After the USA, Canada is the most important country-specific market in this region.
Latin America is a small market compared to North America due to government restrictions on firearms and limited technological advancement. The important country-specific markets in this region are Brazil and Mexico, followed by the remaining countries of Latin America. Europe is another important regional market because of the military projects being undertaken by the UK, France, and Germany. Another important country-specific market in Europe is Italy, followed by the remaining countries of Europe. Some key market players are based in Europe too.
During the forecast period, the Asia Pacific region can emerge as the fastest growing regional market due to the rising terror attacks, cross-border conflicts, and political disputes, across this region. The crucial country-specific markets in this region are China, India, Japan, and South Korea, followed by the remaining countries of the Asia Pacific region.
The market in the MEA market is limited due to poor countries, lack of education, lack of awareness, lack of technological advancement, and lack of skilled labor. However, terrorist attacks and border disputes here do create an important market in this region. Important country-specific markets in this region are Israel, Saudi Arabia, and the UAE, followed by the remaining MEA countries.
Key Players in Gunshot Detection System Market:
The key players in the global gunshot detection system market include ACOEM Group (France), Battelle Memorial Institute (USA), ELTA Systems (Israel), Israel Aerospace Industries Ltd. (Israel), Louroe Electronics (USA), QinetiQ (UK), Raytheon Company (USA), Rheinmetall AG (Germany), Safety Dynamics LLC (USA), Shooter Detection Systems LLC. (USA), SST (ShotSpotter) Inc. (USA), Thales Group (France), and Tracer Technology Systems Inc. (USA).
Latest Industry News
· Ohio’s capital city Columbus, Police is continuing its rollout of the gunshot detection system. 1 MAR 2019
· Tracer Technology has launched Shot Tracer® gunshot detection solution. 7 MAR 2019
Table Of Contents
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.1. Definition
2.2.2. Research Objective
2.2.3. List Of Assumptions
2.2.4. Limitations
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
4. Market Landscape
Continue…..
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