Increasing incidences of shooting at schools, universities, and hospitals. Apart from this there is an increasing adoption of these systems by law enforcement agencies especially from North American region is driving the market for gunshot detection system.
New York, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Gunshot Detection System Market by Application, Installation, Product Type And Region - Global Forecast to 2025" - https://www.reportlinker.com/p04756170/?utm_source=GNW
The Gunshot Detection System Market size is expected to grow from USD 594 million in 2020 to USD 979 million by 2025, at a Compound Annual Growth Rate (CAGR) of 10.5% during the forecast period. The market for gunshot detection system market is driven by several factors, such as increased higher rates of homicide deaths from gunfire in North America and increasing demand for gunshot detection systems in militaries for threat detection and identification another factor driving the gunshot detection system market. The installation of gunshot detection systems cost is very high and maintaining these systems is an additional expense on governments.
Vehicle Installations segment is estimated to account for the largest share of the Gunshot Detection System Market in 2020.
Based on Installations, the vehicle installation segment is estimated to account for the largest share of the Gunshot Detection System Market in 2020.The growth in vehicle installation segment is owing to upgradation of existing armored vehicle fleet.
The increasing delivery of new armored vehicle is also increasing the demand for armored vehicles. The increasing soldier modernization programs are also contributing to the demand for overall GDS demand.
Increasing demand for vehicle mounted, soldier mounted, and drone mounted gunshot detection system is expected to drive the market for outdoor segment
Based on system, the outdoor segment is estimated to account for the largest share of the gunshot detection system market in 2020. High demand for vehicle mounted and soldier mounted gunshot detection system is expected to drive this market.
North America is to witness highest growth for gunshot detection system during the forecast period
North America has the highest firearms possession to population ratio across the world.The US in the region accounts for the largest civilian gunfire deaths.
Need for better surveillance and safety systems from gunfire in cities are the prime drivers for gunshot detection systems in the region.
Defense applications use Gunshot locator systems, which have greatly improved situational awareness and combat preparedness for military units. They have led to decrease in combat casualties in hostile environment from enemy fire.
Break-up of profiles of primary participants in the Gunshot Detection System Market
• By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40%
• By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, Rest of the World – 5%
The major companies profiled in the report include SST, Inc. (US), Raytheon (US), QinetiQ North America (US), Shooter Detection Systems, LLC. (US), Acoem Group (France), and Thales Group (France) among others.
The market study covers the gunshot detection system market across segments.It aims at estimating the market size and the growth potential of this market across different segments, such as solution, application, system, installation and region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Reasons to buy this report:
The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall gunshot detection system market and its subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p04756170/?utm_source=GNW
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