Mary-Louise Hoffman
A Research and Markets report on the global explosive detection systems market forecasts the industry will see an 11.4-percent compound annual growth rate over the next five years.
The research firm said Monday it predicts the explosive detectors market’s value will grow from $3.56 billion last year to $6.12 billion in 2020 due to an increase in counterterrorism efforts and tighter screening processes worldwide.
Robots designed to identify explosives are projected to hold the largest market share during the forecast period, the report states.
Research and Markets also noted a growing demand for explosive detection technology in public places and the aviation sector.
L-3 Communications, Leidos, Chemring Group, Flir Systems and Implant Sciences Corp. are among the key players identified in the market research report.
