Mine Detection System Market

The Mine Detection Systems market is projected to grow from an estimated USD 5.2 billion in 2021 to USD 6.9 billion by 2026, at a CAGR of 6.2% in terms of value during the forecasted period.  It is witnessing significant growth due to increasing new technologies and demand of going Mine Detection systems. Significant technological advancements and integration of electronics in military equipment are resulting in a shift towards multilayered defense systems, which is expected to drive the Mine Detection Systems market during the forecast period. Adding to these factors, the increase in the use of UAV systems and the need for ground surveillance and communication jamming serve as opportunities for the Mine Detection Systems market.

Major Mine Detection System Companies Include:

• Raytheon Technologies Corporation (US)
• L3Harris Technologies, Inc. (US)
• BAE Systems Plc. (UK)
• Lockheed Martin Corporation (US)
• Israel Aerospace Industries Ltd. (Israel)

Major manufacturers in this market are based in North America and Europe. Major focus was given to the development of new products due to the changing requirements of defense authorities across the world. These players have adopted various organic and inorganic growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, collaborations, expansions, acquisitions, and new product development activities further to expand their presence in the Mine Detection Systems market.

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Raytheon technology is an America based conglomerate of multinational aerospace and defense service providing companies. It research, manufactures and develops technology products in the field of aerospace and defense. The company’s business segments include Collins Aerospace, Pratt Whitney, Raytheon Intelligence and Space, and Raytheon Missiles & Defense. Raytheon Company offers solutions for the enhanced detection of buried threats. The company offers GroundEye system and AN/AQS-20 is capable of real-time detection of concealed threats. This technology can be integrated with military vehicles for

L3Harris Technologies, Inc. is one of the leading manufacturers and suppliers of maritime vessels and ground vehicles. The company operates through four segments, namely, Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation System. L3 Technologies, Inc. has a wide presence across the globe and is one of the major defense solution providers to the NATO forces and the US Department of Homeland Security. The company offers products for all three industry verticals such as Land, Naval & Air

BAE Systems is one of the key players in the aerospace, defense, and security sectors across the globe. The company operates through five business segments, namely, Electronic Systems, Cyber & Intelligence, Platforms & Services (US), Air, and Maritime. The company focuses on enhancing its products by adding innovative features to differentiate them from its competitors. It delivers cost-effective, well-executed, operationally ready solutions by developing advanced components and innovative solutions to increase customer value

Related Reports:

Mine Detection System Market by Application (Defence and Homeland Security), Deployment (Vehicle Mounted, Ship Mounted, Airborne Mounted and Handheld), Technology, Upgradation (OEMs and MROs), and Region - Global Forecast to 2026

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