Global Gunshot Detection System Market : Industry Analysis and Forecast (2017-2026)
Global Gunshot Detection System Market was valued US$ 920.2 Mn in 2017 and is expected to reach US$ 7120.7 Mn by 2026, at CAGR of 29.2% during forecast period.
The major growth drivers of the gunshot detection system market include the rise in demand for advanced security systems, increasing demand for security in various industry verticals, and rising criminal activities in urban areas. In addition, Increased incidences of gun-firing, especially at school premises, have led to various security measures, such as warning people in close proximity and alerting authorities to the location of the shooting all these factors will drive the growth of Gunshot Detection system market during the forecast period. Increasing government initiative side has led to the growth of the Gunshot Detection system across the globe. The latest trend for smart cities across the globe is resulting in the quantitative increase in demand of Gunshot across the nation.
Growing investment in border security is also likely to drive the market growth in the coming years, as gunshots systems can help border security forces to detect and stop any attempts of smuggling, infiltration, and illegal immigration. Also, with a little amendment of the system, it might be possible for the manufacturers to help forces identify criminals and detect illegal entry even in the absence of gunshots. Various law enforcement agencies across global are now deploying various strategies in order to control the increased incidents related to the mass shooting, which will further increase the demand and interest in advanced gunshot detection technology.
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At the same time, the factors that are limiting the market are the scarcity of gunshot detection professionals, the high installation cost of gunshot detection systems. Also, worldwide financial uncertainty and macroeconomic situations such as currency exchange rates and economic difficulties are some of the major challenges which are hampering the growth of Gunshot Detection System Market.
Based on the installation, the vehicle installations segment is expected to account for the largest share of the gunshot detection system market over the period. The growth in the vehicle installations segment is due to the upgradation of existing armored vehicle fleets. The increasing delivery of new armored vehicles is also leading to increasing demand for armored vehicles. Increasing soldier modernization programs are also contributing to the demand for overall GDS.
The global gunshot detection systems market is mainly dominating by Raytheon products, both in military and civilian applications. Shotspotter, which sells civilian versions of Raytheon’s gunshot detection system through the license, generated a revenue of around XX million in 2017. The product obtaining cost for gunshot detection systems is very low. The civilian usage of gunshot detection systems is gradually increasing across various countries, with the threat from random shooters and terrorists augmenting the demand from civilians.
North America is expected to drive the growth of the gunshot detection system market during the forecast period, 2017 to 2026. The gunshot detection system market in North America is expected to witness growth, because of the largest civilian gunfire deaths in the region, especially in the US where the firearm-related death rate is 25 times higher than other countries. Major US cities are planning to install indoor gunshot detection systems at universities, corporate office locations, and financial facilities, among others, over the next few years.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the Global Gunshot Detection System Market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Gunshot Detection System Market.
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Scope of Global Gunshot Detection System Market:
Global Gunshot Detection System Market, By Type:
• Indoor
• Outdoor
Global Gunshot Detection System Market,By Installation:
• Fixed Installation
• Wearable Installation
• Vehicle Mounted Installation
Global Gunshot Detection System Market, By Application:
• Military
• Law Enforcement
Global Gunshot Detection System Market, By Region:
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa
Key Players Operated in Market Include:
• Raytheon Company
• Thales Group
• Battelle Memorial Institute
• Rafael
• Safran Electronics & Defense
• Rheinmetall AG
• ELTA Systems Ltd
MAJOR TOC OF THE REPORT
Chapter One: Gunshot Detection System Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Gunshot Detection System Market Competition, by Players
Chapter Four: Global Gunshot Detection System Market Size by Regions
Chapter Five: North America Gunshot Detection System Revenue by Countries
Chapter Six: Europe Gunshot Detection System Revenue by Countries
Chapter Seven: Asia-Pacific Gunshot Detection System Revenue by Countries
Chapter Eight: South America Gunshot Detection System Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Gunshot Detection System by Countries
Chapter Ten: Global Gunshot Detection System Market Segment by Type
Chapter Eleven: Global Gunshot Detection System Market Segment by Application
Chapter Twelve: Global Gunshot Detection System Market Size Forecast (2019-2026)
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