Explosive Trace Detection Market to grow at a steady pace by 2028

March 09, 2023/IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Explosive Trace Detection Market.

Explosive Trace Detection Market report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Explosive Trace Detection Market:

The explosive trace detection market was estimated at US$ 1.3 billion in 2021 and is expected to grow at a CAGR of 10.7% during 2022-2028 to reach US$ ~4.9 billion in 2028. Explosives Trace Detectors (ETDs) are pieces of explosive detection equipment that can identify explosives in trace amounts. The location that has to be discovered is honed by looking at "trace" amounts of invisible particles. ETDs and other tools are also used to identify drugs. The equipment is mostly used in airports, important locations, and helpless areas that are seen to be vulnerable to terrorist assaults.

Segment Analysis

Chemiluminescence (CL), ion mobility spectrometry (IMS), mass spectrometry (MS), thermo-redox, surface acoustic wave (SAW), chemical reagents, and ultraviolet fluorescence are the technological segments of the worldwide explosive trace detection (ETD) market. Due to the moderate pricing, the ion mobility spectrometry (IMS) market is anticipated to increase significantly throughout the projection period. Furthermore, these systems can function in natural settings. The ion mobility spectrometry (IMS) devices can also be used for swipe (particulate) and/or vapor detection.

Growing Attention on Increasing Safety and Security Levels to Drive Commercial Segment Demand The commercial and military & defense segments of the worldwide explosive trace detection (ETD) market have been established based on application. Due to the increasing emphasis on boosting safety and security standards at locations including airports, railway stations, ports, retail markets, hospitals, and others, the commercial segment is predicted to have significant expansion in the next years.

North America has had rapid expansion in the market for explosive trace detection (ETD) systems over the past ten years, and it is anticipated that it will maintain its leadership position during the forecast period. Due to the US's high military expenditure, the US has been solely responsible for the explosive trace detection (ETD) systems market's booming expansion in North America. The US has historically and currently had the highest military spending and income levels worldwide. In addition to being the greatest military spender in the world, the nation is also home to the top producers and contractors of explosive trace detection (ETD) systems, making it the largest market for these devices.

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Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Explosive Trace Detection Market analysis report discusses the following heads in great detail:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

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