The UXO Detection Market is expected to exhibit a growth rate of more than 2.5% during the forecast period 2020 - 2025.
Key Highlights
- The economic development across geographies such as South East Asia, Europe, Africa, etc. is leading to growth in construction activities. Since some areas in the aforementioned regions have been affected by wars and combats in the past, it becomes really important to survey the site for UXO or unexploded ordinance detection. This factor is propelling the growth of the UXO detection systems market.
- The rise in military spending by major countries such as India, China, United States, etc. is leading to increased investment in the training and development of troops. Every year, a large number of explosives and ammunitions misfire and creates a high threat to the lives of soldiers working in the training field and firing range. This factor is leading to the growth of the UXO detection market across the world.
- The rise in military technology development to safeguard the lives of troops deployed in active combat zones is significantly driving the growth of the UXO detection market across the world. Technologies such as AI and detection through drones, etc. are being deployed to increase the scanning efficiency of detectors.
Key Market Trends
Hardware Segment To Exhibit The Highest Growth Rate
Many developing economies such as India, China, etc. are investing in the development of and acquisition of UXO detection systems owing to the increase in border skirmishes that often lead to fire exchanges between countries that leaves several unexploded ordinances in border residential areas. The aforementioned factor is significantly increasing the demand magnetic imagery systems, side scan, multibeam and acoustic scanning systems, 3D scanning systems, etc. Military programs, such as the United States run Conventional Weapons Destruction (CWD) for European and Eurasian regions, are also significantly driving the technological innovations and system development and procurement for large scale detection and disposal of unexploded ordinances from wars and conflicts of the past. In 2019, the joint research team of Ukrainian Multirotor Technologies LLC and Geophysical Laboratory of Binghamton University announced the completion of the first phase of anthropogenic magnetic anomalies identification of Unexploded Ordnance through Cicada UAV platform. The aforementioned developments are significantly driving the market growth for UXO detection hardware across the world.
North America Held The Highest Revenue Share In 2019
The United States has actively deployed troops in the combat affected regions such as Middle-East and Africa and it is providing advanced software-based UXO detection technology to its armed forces and armed forces of allies in Europe and Asia-Pacific region. The United States is actively integrating satellite imagery and cloud computing technology for efficient detection and disposal of UXOs on land as well as sea. Canada’s Department Of National Defence is also significantly spending to clear the UXOs spread across the country as a result of military training activities. The aforementioned developments are propelling the growth of the UXO detection market in the region.
Competitive Landscape
The UXO Detection Market is fragmented with several players such as Vallon GmbH, Foerster Group, Gem Systems Inc., Seequent Limited, and Dynasafe International, eyeing for a larger market share. The UXO detection market is witnessing huge investments in technology development from key players and defense agencies. The market is expected to witness good growth in revenue owing to the increased defense and security spending and the need for civil and military safety.
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