Global Gunshot Detection System Market Key Players:
The key players in the global gunshot detection system market are Raytheon Company (US), Thales Group (France), ACOEM Group (France), SST (ShotSpotter), Inc. (US), Shooter Detection Systems LLC. (US), Battelle Memorial Institute (US), Louroe Electronics (US), ELTA Systems – Israel Aerospace Industries Ltd. (Israel), Tracer Technology Systems, Inc. (US), Rheinmetall AG (Germany), Qinetiq (UK), and Safety Dynamics, LLC (US).
The Global Gunshot Detection System Market Is Estimated to Register a CAGR of over 20% during the forecast period of 2018 to 2023.
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Market Report Summary:
The Global Gunshot Detection System Market has been segmented by installation type, product type, end-user, and region. Based on installation type, the gunshot detection system market is divided into fixed systems, portable systems, and vehicle mounted systems. In 2017, the fixed system segment accounted for the largest market share, and it is expected that the portable system segment would witness the fastest market growth, during the forecast period.
Based on product type, the gunshot detection system market is divided into indoor and outdoor. In 2017, the outdoor segment accounted for the largest market share and it is also expected to witness the fastest market growth, during the forecast period. Based on end-user, the gunshot detection system market is divided into homeland security personnel and military forces. In 2017, the military segment accounted for the largest market share and it is expected that the homeland security segment would witness the fastest market growth, during the forecast period.
Over the years, there has been a significant increase in the global military expenses, which also fuels the market growth. According to the Stockholm International Peace Research Institute (SIPRI), the global military spending rose by 1.1% in 2017, accounting for approximately USD 1.74 trillion.
In the same year, countries such as China, Saudi Arabia, and India increased their military spending by 5.6%, 9.2%, and 5.5%, respectively. Furthermore, India overtook the UK, to become the fifth largest defense spender in the world. Meanwhile, other countries have plans to invest in advanced technologies and are focusing on expanding, modernizing, and enhancing the operational capabilities of their armed forces.
The Global Gunshot Detection System Market has also been segmented into five regions, namely, North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America had the largest share of the market in 2017, which was significantly due to the large production and sales of firearms and the growth in gunfire incidents in the US, in particular.
According to the ShotSpotter National Gunfire Index, there were approximately 87,000 gunfire incidents in 2017, across 87 cities, in the US, particularly. Concurrently, there has been a large sale of firearms over the last 2 years in the country. Due to such factors, the government is putting emphasis on the deployment of gunshot detection systems. Similarly, Asia-Pacific is expected to be fastest growing market for the gunshot detection systems, during the forecast period.
Scope of the Global Gunshot Detection System Market Report:
The report on global gunshot detection system market by Market Research Future covers extensive primary research. This is accompanied by a detailed analysis of the qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report offers a clear picture of the current market scenario, which includes the historical and forecast market size, in terms of value, and the technological, macroeconomic, and governing factors of the market. The report also provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
Intended Audience of The Gunshot Detection System Industry
- Gunshot detection system developers
- Defense authorities
- Law enforcement personnel
- Research institutes
- Firearm producers
- Government officials
- Regulatory bodies
Table Of Contents
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.2. Research Objective
2.2.3. List Of Assumptions
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
4. Market Landscape
4.1. Porter’s Five Forces Analysis
4.1.1. Threat Of New Entrants
4.1.2. Bargaining Power Of Buyers
4.1.3. Threat Of Substitutes
4.1.4. Segment Rivalry
4.1.5. Bargaining Power Of Suppliers
4.2. Supply Chain Analysis
5. Market Dynamics
5.2. Market Drivers
5.3. Market Restraints
5.4. Market Opportunities
5.5. Technological Trends
5.6. Patent Analysis
5.7. Regulatory Landscape
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