06 June 2020
Visiongain has launched a new report Gunshot Detection Systems Market Report 2020-2030: Forecasts by Application (Public Safety, Education, Air Force, Military), Installation (Fixed Installations, Vehicle Installations, Soldier Mounted), Solution (Indoor, Outdoor) PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.
The global gunshot detection system market is projected to expand with a double-digit CAGR over the forecast period. This growth rate is primarily driven by the increasing threat of terrorism and rising government military budgets. The market revenue contributed by various regions varies greatly where North America is estimated to holds more than 50% of the global gunshot detection systems market, followed by MEA. However, APAC and Europe are anticipated to lead in terms of overall revenue growth over the forecast period.
Rising government initiatives towards advancement in protection capabilities to prevent public shooting is expected to drive the revenue growth over the forecast period. Further, smart city development is also contributing to revenue growth in the global market. As a part of the smart city program, the gunshot detection system is becoming a critical system to improve the overall security in the target region. This represents significant revenue opportunities for the players operating in the global gunshot detection systems market. Various application sector such as retail, educational institutes, property management, manufacturing agencies, government and military agencies are contributing to the overall revenue growth in the global gunshot detection systems market.
Some of the players operating in the market include SST, Inc. (Shotspotter), Shooter Detection Systems LLC, Acoem Group, Battelle Memorial Institute, Louroe Electronics, Tracer Technology Systems, Inc., Safety Dynamics, Inc., Databuoy Corporation, Rafael Advanced Defense Systems Ltd., ELTA Systems Ltd., Compagnie Industrielle Des Lasers (CILAS), Microflown Avisa B.V., V5 Systems Inc., Information System Technologies, Inc., Raytheon BBN Technologies Corporation, Qinetiq North America, Thales Group, Rheinmetall AG. These players are also taking several strategic initiatives such as mergers, acquisitions, and partnerships to increase their presence in the global market. These major companies are increasingly focusing on various research and development activities to gain competitive advantage.
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