A new NanoMarkets report predicts that the radiation detection device market will reach a value of $1.92 billion for domestic security applications and $868 million for military applications by 2020.
The company said Jan. 5 that the military and security sectors are the fastest-growing markets for radiation detection devices due to an increase in terrorist activity and demand for radiation monitoring and control tools.
In the report, NanoMarkets analyzes potential revenue, current products and marketing strategies and highlights trends that indicate demand in the aviation and emergency-response fields, preference for device portability and usability as well as the development of scintillating materials.
NanoMarkets also listed the following companies in the market:
- Baltic Scientific Instruments
- Berkeley Nucleonics Corp.
- Bubble Technology Industries
- FLIR Systems
- L-3 Communications
- Ludlum Measurements
- Mirion Technologies
- North American Technical Services
- Radiation Monitoring Devices (Dynasil)
- Rapiscan Systems
- Smiths Group
- Thermo Fisher Scientific