Mine Detection System Market is Booming Worldwide: BAE Systems, L3Harris Technologies, Inc., Lockheed Martin Corporation

Delvens published an exclusive market intelligence report, titled?"Mine Detection System Market by Application (Defense and Homeland Security), Deployment (Vehicle Mounted, Ship Mounted, Airborne Mounted, and Handheld), Technology, Upgradation (OEMs and MROs), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)", the Global Mine Detection System Market size is projected to reach a?CAGR of 6.8%?from 2023-2030.

A mine detector is a device for locating buried or concealed mines usually by indicating the presence of metal or by giving a signal when it is passed over something different from the ground in the vicinity. Mine detection systems are employed to rid a previous battlefield of all the mines that were laid there during a war and make these safe for civilians and wildlife.

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Rise in military land clearance operations, advancement in sensor technology in the defense sector, and increase in the use of traditional Anti-Tank (AT) mines are the major factors that drive the growth of the mine detection system market. Furthermore, growing demining activities in the military and rising consciousness related to the significance of demining procedure are the opportunities involved in the global mine clearance market

On the other hand, the high cost of mine & IED detection systems and declining Defense expenses are the restraints that hindered the growth of the mine detection system market.

Due to enforced lockdowns and imposed limits by different regulatory bodies as a result of the COVID-19 outbreak, numerous industries' operations have either been temporarily halted or are operating with reduced personnel. This is no different in the worldwide mine detection system market, and this aspect is expected to have a substantial negative impact on the industry's revenue growth. Additionally, the high costs associated with the installation and maintenance of this equipment is a factor that could limit the global mine detection system market's revenue growth throughout the forecast period.

Mine Detection System Market Competitive Landscape

• BAE Systems
• Israel Aerospace Industries Ltd.
• L3Harris Technologies, Inc.
• Northrop Grumman Corporation
• Raytheon Technologies Corporation
• Lockheed Martin Corporation
• Leonardo SPA
• Elbit Systems
• Textron Systems

Recent Developments

• In May 2021, General Dynamics Mission Systems Inc. of Quincy, Massachusetts, has been awarded a contract by the US Navy for the conversion of five Surface Mine Countermeasure Unmanned Undersea Vehicle systems to the Block I configuration and engineering support services.
• In May 2021,?Germany's Rheinmetall won a contract to provide British Armed Forces with mission masters. In order to study potential future capabilities, the British military will purchase four additional Mission Masters, this time with a fire support module. Other than logistics, it may also be used for surveillance, security, casualty evacuation, and CBRN detection, among other things. Additionally, the Mission Master may be used as a mobile radio relay station.

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Key Findings

• The deployment segment is further fragmented into Vehicle Mounted, Ship Mounted, Airborne Mounted, and Handheld. The ship-mounted segment is anticipated to dominate the market during the forecast period. Mine detection systems mounted on vehicles vary in size, weight, range, capability, function, and operation. These vehicles are manned as well as unmanned depending on the operation. Mines can be placed either externally on the ship’s side and/or hull or placed internally by infiltrators that can cause a combination of onboard bombings and specific assaults. Mine detection systems are very much mandatory to install on all naval platforms for these attacks.
• The upgrade segment is further bifurcated into OEMs and MROs. The OEM segment is anticipated to project the highest CAGR during the forecast period. An increase in vehicle-mounted mine detection systems globally is one of the significant factors driving the growth of the mine detection system market. In addition, the rise in the use of dual-band radar is among the technological factors expected to fuel the growth of the mine detection system market soon. In the defense industry, mine detection systems are mounted over ships, vehicles, and aircraft and delivered to the military forces. OEMs handle the installation of mine detection systems. The OEM component providers also offer the line-fit option, thereby saving the time consumed in the installation of mine detection systems post-delivery.
• The technology segment is further fragmented into Radar Based, Laser-Based, and Sonar Based. The sonar-based technology is anticipated to lead the market and has the highest CAGR during the forecast period. The sonar technology utilized in mine detecting systems is expected to be driven by growing navy ship procurement and upgrade operations, as well as rising commercial and combat ship deliveries throughout the world.
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The North American region is estimated to lead the Mine Detection Systems market in the forecast period. The US is recognized as one of the key manufacturers, exporters, and users of mine detection systems worldwide and is known to have the largest market share.

Regional Analysis

North America to Dominate the Market

• The North American region is estimated to lead the Mine Detection Systems market in the forecast period. The US is recognized as one of the key manufacturers, exporters, and users of mine detection systems worldwide and is known to have the largest market share.
• The new defense strategy of the US indicates an increase in spending on unmanned systems to include advanced capabilities in existing defense systems of the US Army to detect the presence of planted mines.

Delvens Industry Expert's Standpoint

The growing demand for the effective detection and removal of landmines and unexploded ordnance (UXO) from conflict-affected areas. These areas are often littered with landmines and UXO, which pose a significant threat to civilians and impede economic development. Hence, mine detection systems are significantly important in the operations of Defense, as it enables troops to safely navigate through conflict-affected areas and identify potential threats. Moreover, to avoid the impedance in economic development in the hazardous areas since these areas restrict the movement, trade possibility, and transport facility. Further, the need to protect civilians, promote economic development, support military operations, technological advances, and government regulations are all involved in the growth of the Mine Detection System Market in the next coming years.

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