Mine Detection System Global Market Opportunities and Strategies to 2033

This report describes and explains the mine detection system market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global mine detection system market reached a value of nearly $5.33 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.31% since 2018. The market is expected to grow from $5.33 billion in 2023 to $10.64 billion in 2028 at a rate of 6.90%. The market is then expected to grow at a CAGR of 7.40% from 2028 and reach $10.64 billion in 2033.

Growth in the historic period resulted from the strong economic growth in emerging markets, rise in military land clearance operations and government initiatives and contracts. Factors that negatively affected growth in the historic period include difficult terrain conditions.

Going forward, increased casualties from landmines, increasing defense budgets, increase in demining projects and the rise in terrorism will drive the market. Factors that could hinder the growth of the mine detection system market in the future include disruption in supply chain.

The mine detection system market is segmented by technology into radar based, laser based and sonar based. The radar based market was the largest segment of the mine detection system market segmented by technology, accounting for 45.34% or $2.42 billion of the total in 2023. Going forward, the sonar based segment is expected to be the fastest growing segment in the mine detection system market segmented by technology, at a CAGR of 7.51% during 2023-2028.

The mine detection system market is segmented by detection capability into above surface and underground. The underground market was the largest segment of the mine detection system market segmented by detection capability, accounting for 59.97% or $3.2 billion of the total in 2023. Going forward, the underground segment is expected to be the fastest growing segment in the mine detection system market segmented by detection capability, at a CAGR of 7.15% during 2023-2028.

The mine detection system market is segmented by deployment into vehicle mounted, ship mounted, airborne mounted and handheld. The handheld market was the largest segment of the mine detection system market segmented by deployment, accounting for 34.82% or $1.85 billion of the total in 2023. Going forward, the airborne mounted segment is expected to be the fastest growing segment in the mine detection system market segmented by deployment, at a CAGR of 7.34% during 2023-2028.

The mine detection system market is segmented by application into defense and homeland security. The defense market was the largest segment of the mine detection system market segmented by application, accounting for 69.27% or $3.69 billion of the total in 2023. Going forward, the homeland security segment is expected to be the fastest growing segment in the mine detection system market segmented by application, at a CAGR of 7.46% during 2023-2028.

North America was the largest region in the mine detection system market, accounting for 30.82% or $1.64 billion of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the mine detection system market will be North America and Asia-Pacific, where growth will be at CAGRs of 7.92% and 7.12% respectively. These will be followed by Western Europe and Eastern Europe, where the markets are expected to grow at CAGRs of 6.57% and 5.84% respectively.

The global mine detection system market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 26.81% of the total market in 2022. Lockheed Martin Corporation was the largest competitor with a 5.25% share of the market, followed by Raytheon Technologies Corporation with 4.01%, General Dynamics Corporation with 3.14%, BAE Systems PLC with 3.12%, Thales Group with 2.95%, Northrop Grumman Corporation with 2.91%, Israel Aerospace Industries Ltd. with 1.98%, L3Harris Technologies Inc. with 1.36%, Bharat Electronics Ltd. with 1.31% and Elbit Systems Ltd. with 0.77%.

The top opportunities in the mine detection system market segmented by technology will arise in the radar based segment, which will gain $876.68 million of global annual sales by 2028. The top opportunities in the mine detection system market segmented by detection capability will arise in the underground segment, which will gain $1.32 billion of global annual sales by 2028. The top opportunities in the mine detection system market segmented by application will arise in the defense segment, which will gain $1.4 billion of global annual sales by 2028. The top opportunities in the mine detection system market segmented by deployment will arise in the handheld segment, which will gain $640.24 million of global annual sales by 2028. The mine detection system market size will gain the most in the USA at $637.89 million.

Market-trend-based strategies for the mine detection system market include focus on providing support services to governments, launching new solutions with improved accuracy, focus on using advanced unmanned and autonomous technologies and launching new solutions with artificial intelligence (AI).

Player-adopted strategies in the mine detection system market include focus on strategic partnerships and focus on securing new contracts.

To take advantage of the opportunities, the analyst recommends the mine detection system companies to focus on developing advanced man-portable mine detectors, focus on advanced unmanned and autonomous technologies for enhanced mine detection, focus on AI-powered camera-based mine detection systems, focus on sonar based segment, focus on strategic partnerships for distribution expansion, expand in emerging markets, provide competitively priced offerings, focus on thought leadership content, participate in trade shows and events, continue to use B2B promotions and focus on building relationships with key decision-makers.