Theglobal gunshot detection system (GDS) market is set to gainmomentum from the increasing focus of prominent manufacturers on thedevelopment of advanced technologies for detecting real-time sound. Safe Zone, for instance, completed a USD 1 million round of funding anchored by Seedfunders. This would help to broaden its senior leadership team and strengthen its distribution in North America. Fortune BusinessInsights™ published this information in a new study, titled, “GunshotDetection System Market, 2021-2028.” The study further mentions that themarket size was USD 673.9 million in 2020. It is expected togrow from USD 697.5 million in 2021 to USD 1,408.3million in 2028, exhibiting a CAGR of 10.56% in theforecast period.
COVID-19Pandemic to Hinder Growth Backed by Delay in Product Deliveries
Theoutbreak of the COVID-19 pandemic has resulted in lockdown measures incountries, such as Japan, India, China, Germany, France, and the U.S. Hence, the global defense industry was impacted severely as numerous product deliveries were either cancelled or delayed. It is likely to decline the demand for gunshot detection systems in the upcoming years. We are providing you with authentic research reports so that you can find the best strategy to cope up with the grave situation.
Segmentation-
IncreasingInstallation to Spur Growth of the Defense Segment
Theresearch report classifies the market based on geography, installation, application,and system. By installation, it is divided into fixed installation, vehicle installation, and soldier mounted installation. In terms of system, it is segmented into outdoor and indoor. Based on application, it is bifurcated into defense and commercial. Amongst these, the defense segment is expected to remain at the forefront by generating the largest gunshot detection system market share. GDS is mainly used in this sector to detect locations of firing, especially from large weapons.
ReportCoverage-
Themarket comprises multiple stakeholders, such as software solution providers,original equipment manufacturers (OEMs), and gunshot detection system equipment manufacturers, and component suppliers. All percentage breakdowns, splits, and shares were verified through primary sources and determined using secondary sources. The market’s size and supply chain were calculated using the bottom-up and top-down approaches.
Drivers& Restraints-
SurgingNeed to Reduce Risks of Collateral Damage to Bolster Growth
Theincreasing cases of mass shootings in public worldwide are one of the mostcrucial reasons responsible for the gunshot detection system market growth in the near future. The Gun Violence Research Group, for instance, declared that in 2019, the U.S. experienced the highest number of mass shooting incidents. When deployed indoors and outdoors, gunshot detection systems help to lower the risk of collateral damage in high crime areas. However, the installation and integration of these systems involve high-cost spending, which, in turn, may obstruct growth.
RegionalInsights-
IncreasingInstallation by Law Enforcement Agencies to Favor Growth in North America
Geographically,North America remained dominant in 2020 by generating USD 248.3 million interms of revenue. This growth is attributable to the increasing installation ofthese detection systems by various law enforcement agencies, increasing security concerns, and surging mass shooting incidence in the region. On the other hand, Asia Pacific is anticipated to grow remarkably fueled by the increasing defense expenditure, expansion of military forces, and rising number of smart city projects.
BrowseDetailed Summary of Research Report with TOC:
CompetitiveLandscape-
Winningof Significant Contracts — Vital Strategy Adopted by Key Players to Compete
Theglobal market is fragmented with the presence of several companies that arepersistently striving to gain a competitive edge by bagging new contracts from regulatory bodies and renowned firms. This way, they will be able to provide their in-house solutions.
Beloware the two latest industry developments:
December 2020:
- ShotSpotter, Inc. signed new contracts with seven U.S. cities with populations of less than 50,000. The company will install its flagship gunshot detection solution named ShotSpotter Respond™ to keep up with the latest trend of small cities equipping big city tools to reduce and prevent gun violence.
April 2020
- : Aselsan, a defense company based in Turkey, signed a contract with a NATO member nation to deliver SEDA Gunshot Detection System and SARP Advanced Remote Controlled Stabilized Weapon Stations.
Alist of all the reputed manufacturers present in this market:
ShotSpotter Inc. (The U.S.)
- ACOEM Group (France)
- Louroe Electronics (The U.S.)
- Tracer Technology Systems, Inc. (The U.S.)
- Safety Dynamics, Inc. (The U.S.)
- Databuoy Corporation (The U.S.)
- Raytheon Company, a Raytheon Technologies company (The U.S.)
- Thales Group (France)
- Rheinmetall AG (Germany)
- IAI (Israel)
- QinetiQ (The U.S.)
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