Global Gunshot Detection System Market was valued US$ XX Mn in 2019 and is expected to reach US$ 7120.7 Mn by 2027, at CAGR of XX % during forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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The major growth drivers of the gunshot detection system market include the rise in demand for advanced security systems, increasing demand for security in various industry verticals, and rising criminal activities in urban areas. In addition, Increased incidences of gun-firing, especially at school premises, have led to various security measures, such as warning people in close proximity and alerting authorities to the location of the shooting all these factors will drive the growth of Gunshot Detection system market during the forecast period. Increasing government initiative side has led to the growth of the Gunshot Detection system across the globe. The latest trend for smart cities across the globe is resulting in the quantitative increase in demand of Gunshot across the nation.
Growing investment in border security is also likely to drive the market growth in the coming years, as gunshots systems can help border security forces to detect and stop any attempts of smuggling, infiltration, and illegal immigration. Also, with a little amendment of the system, it might be possible for the manufacturers to help forces identify criminals and detect illegal entry even in the absence of gunshots. Various law enforcement agencies across global are now deploying various strategies in order to control the increased incidents related to the mass shooting, which will further increase the demand and interest in advanced gunshot detection technology.
At the same time, the factors that are limiting the market are the scarcity of gunshot detection professionals, the high installation cost of gunshot detection systems. Also, worldwide financial uncertainty and macroeconomic situations such as currency exchange rates and economic difficulties are some of the major challenges which are hampering the growth of Gunshot Detection System Market.
Global Gunshot Detection System Market Segment Analysis:
Based on the installation, the vehicle installations segment is expected to account for the largest share of the gunshot detection system market over the period. The growth in the vehicle installations segment is due to the upgradation of existing armored vehicle fleets. The increasing delivery of new armored vehicles is also leading to increasing demand for armored vehicles. Increasing soldier modernization programs are also contributing to the demand for overall GDS.
The global gunshot detection systems market is mainly dominating by Raytheon products, both in military and civilian applications. Shotspotter, which sells civilian versions of Raytheon’s gunshot detection system through the license, generated a revenue of around XX million in 2019. The product obtaining cost for gunshot detection systems is very low. The civilian usage of gunshot detection systems is gradually increasing across various countries, with the threat from random shooters and terrorists augmenting the demand from civilians.
Global Gunshot Detection System Market Regional Analysis:
North America is expected to drive the growth of the gunshot detection system market during the forecast period, 2019 to 2027. The gunshot detection system market in North America is expected to witness growth, because of the largest civilian gunfire deaths in the region, especially in the US where the firearm-related death rate is 25 times higher than other countries. Major US cities are planning to install indoor gunshot detection systems at universities, corporate office locations, and financial facilities, among others, over the next few years.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the Global Gunshot Detection System Market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Gunshot Detection System Market.
Global Gunshot Detection System Market, Key Highlights:
• Global Gunshot Detection System Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Gunshot Detection System Market
• Global Gunshot Detection System Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Gunshot Detection System Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Gunshot Detection System Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Gunshot Detection System Market are also profiled.
The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
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Global Gunshot Detection System Market, by Type:
Global Gunshot Detection System Market,by Installation:
• Fixed Installation
• Wearable Installation
• Vehicle Mounted Installation
Global Gunshot Detection System Market, by Application:
• Law Enforcement
Global Gunshot Detection System Market, by Region:
• North America
• South America
• Middle East Africa
Global Gunshot Detection System Market, Key Players
• Raytheon Company
• Thales Group
• Battelle Memorial Institute
• Safran Electronics Defense
• Rheinmetall AG
• ELTA Systems Ltd
• Acoem Group
• Databuoy Corporation
• Qinetiq North America
• MicroflownAvisa B.V.
• Shooter Detection Systems LLC
• Safety Dynamics Inc.
• Amberbox Inc.
• Louroe Electronics
This Report Is Submitted By : Maximize Market Research Company
Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.