The global mine countermeasures market size is expected to grow in the forthcoming years. This information is published by Fortune Business Insights in its report, titled “Mine Counter Measures Market, 2023-2030“. Sonar systems are used to identify and diffuse mines present underwater and on land. The increasing number of naval operations and water transportation is expected to drive the market. According to the United Nations Conference on Trade and Development, in 2019, the global traffic of containers accounted for 811,215,378 24 twenty-foot equivalent units. With these high statistics of water transport in utility, systems for mine detection are anticipated to experience high demand.
List of Key Players Profiled in the Market for Mine Counter Measures:
- Armada International (The U.S.)
- ASV Global (The U.K.)
- Eca Group (France)
- Lurssen Werft GmbH & Co. KG. (Germany)
- General Dynamics Corporation. (The U.S.)
- Harris Corporation (The U.S.)
- HEINEN & HOPMAN (Netherland)
- Navy.mil (The U.S.)
- Hydro Group plc (The U.K.)
Request for free Sample Copy of this Report-
On the basis of type, the market for mine countermeasures is segmented into landmines and sea mines. Based on the countermeasure technique, the market is bifurcated into manual and automated. Additionally, the application is classified into identifying & sensing and disposing of & destroying. On the basis of geography, the market is divided into North America, Europe, Asia Pacific, and the Rest of the World.
Increasing Military Expenditure in North America to Aid Growth
North America is expected to hold the largest mine countermeasures market share during the forecast period due to its large military budget. For instance, in 2022, the Department of Defense was allotted a budget of USD 705.4 billion. Expenditure in the military is augmenting growth for such systems to conduct regular and intelligence machines.
Asia-pacific is predicted to be the fastest-growing region with China developing advanced systems. The penetration of China in the research and development of such systems along with its large territory is expected to generate high consumption and profits.
Prominent Players Invest in Advanced Technology to Intensify Market Competition
The fragmented structure of companies in the market results in only a few prominent players. These players are focusing on business expansion at the regional and global levels. Some of them are investing in advancements in production technology to increase production efficiency. Product launches, expansion, acquisition, partnership, technological advancement, and others are the key trends of the market. The growing demand from end-use industries for more efficient varieties is an excellent opportunity for the new entrants of the market to make their mark in this industry.
- July 2020: Belgium Naval and ECA group signed a contract according to which Belgium Naval will receive UAV SKELDAR V-200. This is a part of the naval mine countermeasures capability replacement program managed by the Belgium Naval Group.
Inquire To Know More About This Report-
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]