Fort Collins, Colorado, April 23, 2024 (GLOBE NEWSWIRE) --
The rise in the global threat of terrorism and the need for advanced security measures drive industry growth.
The anti-sniper detection system market is witnessing substantial growth driven by the rising global threat of terrorism and asymmetric warfare. This heightened threat landscape has underscored the necessity for advanced security measures to safeguard critical infrastructure, military installations, and high-value targets. As per the Global Terrorism Index 2023, published by the Institute for Economics and Peace, the economic toll of terrorism worldwide amounted to USD 26.4 billion in 2022. Moreover, the increasing incidence of urban conflicts and the imperative to ensure civilian safety in densely populated areas have further amplified the demand for anti-sniper detection systems.
Governments across the globe are making significant investments in these systems to bolster their security capabilities. For example, the U.S. Department of Defense earmarked USD 1.87 billion for the procurement of advanced sensors and detection systems in its fiscal year 2023 budget. This robust investment underscores the critical importance placed on enhancing security measures to mitigate the risk of sniper attacks and protect lives and infrastructure.
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Segmentation Overview:
The anti-sniper detection system market has been segmented into component, type, installation, application, and region.
The critical infrastructure detection segment growth is projected high in the coming years.
- Based on the market segmentation by application, the critical infrastructure detection segment held the largest market share among the application segments in the anti-sniper detection system market. Critical infrastructure, such as power plants, government buildings, and transportation hubs, are high-value targets for potential sniper attacks.
The acoustic segment accounted for a significant market share in the coming years.
- The acoustic segment is expected to exhibit the fastest growth soon. Acoustic detection systems utilize advanced algorithms to analyze sound waves and determine the location of sniper fire based on the muzzle blast and supersonic shockwave.
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Anti-Sniper Detection System Market Report Highlights:
- The anti-sniper detection system market growth is anticipated at a CAGR of 7.7% by 2032.
- The rise in the worldwide threat of terrorism and the increase in spending on weapon technology drive the industry growth.
- The Asia-Pacific region is projected to lead the market growth in the forecast period, attributed to the strengthening of security infrastructure and high investments in weapon technology.
- Some prominent players in the anti-sniper detection system market report include Stelmak, Torrey Pines Logic, DRDO, Raytheon, Rheinmetall, Thales Group, Safran, Elbit Systems, QinetiQ, Hensoldt, SRC Inc, and Metravib Defense.
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