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Research and Markets: Counterterrorism Programs to Drive Explosive Detector Market Growth

Research and Markets: Counterterrorism Programs to Drive Explosive Detector Market Growth - top government contractors - best government contracting event

market researchA 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.

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Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

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