The global market is estimated to register a CAGR of over 20% during the forecast period of 2018 to 2023. The Gunshot Detection System Market is a major market allied to the defense sector. The Market deals with gunshot location systems that help in locating the position of gunfire. With sensors and advanced detection software, Gunshot detection works for defense forces. Gunshot Detection Systems uses optical and acoustic sensors to sense the direction and location of gunfire. Gunshot Detection Systems are used in different situations arising from security and defense. During attacks and defensive situations, such systems help estimate enemy positions and detect the enemy's location with accuracy.
The Gunshot Detection System Market has been growing in the recent past as nations gear up to make new changes to their defensive and offensive systems. Despite the niche segment of people, the systems are used for the Market have seen great demand over the last few years. Law enforcement and defense officials can detect the source of gunfire precisely with the help of these systems. The Gunshot Detection Systems help in increasing situational awareness during war or weapon engagement between two parties. Although there have been no serious war situations internationally, guerilla warfare and minor battle situations have been prevalent.
Moreover, counter-terrorism operations against certain organizations and covert neutralizing operations also create a need for Gunshot Detection Systems. By the year 2020, the value of the Gunshot Detection System Market was at 594 million USD. Other than the use of Gunshot Detection Systems in war and military situations, its use will increase in civilian society too. Internal terrorist activity and public shooting incidents make the use of advanced Gunshot Detection Systems the need of the hour. With the use of Gunshot Detection Systems, many crucial situations can be resolved without much hassle. The Market has witnessed a high rate of growth in the past years. The Market will grow in the coming years too.
COVID 19 Analysis
The COVID 19 pandemic impacted the Gunshot Detection System Market just like any other market. The GDS market was impacted negatively and saw a nearly 7 to 10 percent decline over the pandemic period. The shift of government attention from defense to economic recovery is a major factor behind the decline of the Market growth rate. The Market saw major budget cuts and cancellations due to a lack of funds for defense developments. Moreover, the disruption of the global supply chain and a shutdown of large-scale manufacturing also affected the Gunshot Detection System Market.
However, with the world rapidly recovering from the COVID 19 pandemic, the Market is set to recover fully by the end of 2022. The Market will see a recovery of manufacturing and sales in the post-pandemic phase. With the lockdown restrictions lifted and attention shifted to security and law enforcement, the GDS market will see tremendous growth trends in the post-pandemic phase.
Segmentation of the Global Gunshot Detection System Market
The Gunshot Detection System Market experiences many drivers of growth and progress. For example, the increased incidents of public gun shootings in civilian spaces like schools, concerts, shopping malls have created a fresh demand for Gunshot sound Detection System to be installed in public spaces and indoors. For example, according to reports, public gun shootings increased in the USA during the COVID crisis. In place of this, the gunshot detection system companies are trying to fulfill the demand for electronic gunshot detection system installations in public spaces. The adaptation of GDS to indoor spaces and for buildings of any scale is a key driver of the future growth of the gunshot detection system industry.
There are major opportunities for the growth of the gunshot detection system industry in the future. Electronic gunshot detection system and Gunshot sound detection system in smart city planning is golden opportunity for the gunshot detection system industry. The gunshot detection system companies will contribute to incorporating gunshot detection technology into the plans of smart cities. Smart cities are the tomorrow of our urban settlements. In a move to make the urban environment safer for civilians electronic gunshot detection system will be incorporated into the infrastructure.
There are certain market restraints in gunshot detection technology that will continue to affect the market. For example, the GDS is still a highly sensitive and classified type of defense technology. Thus, the gunshot detection system cost will remain high even in the next few years. The high gunshot detection system cost will continue to impact the market negatively.
There are certain challenges in gunshot detection technology that have to be resolved with efforts and research. For example, the decrease in the GDS installations has affected growth prospects for gunshot detection system companies. The decrease of national budgets on defense and modifications for security advancements is a challenge that will not completely resolve in the forecast period. The high gunshot detection system cost is a major reason behind the budget cuts and decline in sales. The optimization of the cost of the GDS and its capabilities with much research is a need.
Cumulative Growth Analysis
After the brief Gunshot Detection System Market Analysis for its drivers, opportunities, challenges, and restraints, the conclusion is that the market will grow at a rate of 10.5 percent in the forecast period. The Market will reach a value of 1408 million USD by the end of 2027. The prospects of the Market will see a healthy double-digit growth rate.
The Gunshot Detection System Market Analysis by market segments is necessary to understand production trends and popular sales distribution. The Market classifies into different segments based on different criteria. For example, the market is divided into different product types like fixed, vehicle-mounted, and portable based on installation. The Market is also divided into outdoor and indoor systems based on product types. By end-users, the Gunshot Detection System Market divides into law enforcement and military use. Although Vehicle Mounted systems dominate the Market share, the fixed type Gunshot Detection Systems will see the highest growth rate in the forecast period.
The Gunshot Detection System Market Analysis by regions is necessary to understand its distribution over different world regional markets. The presence of Gunshot Detection System companies is dispersed over different areas of the world. The regional shares of the Global Market belong to major regions of North America, Asia Pacific, Europe, MEA, and Latin America. The largest Market share belonged to North Americans in the past. The North American region's Gunshot Detection System Market share will see the highest growth rate in the forecast period.
The Market has many key manufacturing companies that regularly cater to the Market demand. Studying major competitors in the Gunshot Detection System Market is necessary to know the movement of revenue and trends. The major competitors of the Market are as follows-
The major competitors of the Market are present in the North American region. This explains the high Market Demand and revenue arising from the North American region.
The key stakeholders of the Gunshot Detection System Market take up developmental activities like mergers, collaborations, new product lines, etc., that foster the growth of the market. For example, GDS development companies create advanced GDS technology that combines optics and acoustics sensors for better detection. Recently, Safe Zone Technologies created a gunfire location system that combines infrared and sound detection sensors for accuracy. Such recent developments will drive Market demand further.
The Gunshot Detection System Market Research report summary is as follows-
The Gunshot Detection System Market Research Outlook contains a concise and complete overview of the market conditions, past influences, and prospects. The report focuses on major drivers, opportunities, challenges, and restraints in the sector while taking the COVID 19 pandemic impact into view, which helps the reader form a complete view of the Gunshot Detection System Market's past and present conditions. The report also talks about the industrial segmentation and regional distribution of the market so that the reader can get a brief understanding of its various sectors and submarkets. The report also contains insights into the competitive landscape and recent industry developments that keep the market growth over the forecast period.
The ease of accessibility to firearms is assessed to spur the market in the near future.
A 20% CAGR is foreseen to reinforce the market in the impending period.
Shooter Detection Systems L.L.C. (U.S.), Battelle Memorial Institute (U.S.), Louroe Electronics (U.S.), ELTA Systems - Israel Aerospace Industries Ltd. (Israel) are the eminent leaders in the market.
The region of North America leads the charge for the market.
The military segment is estimated to empower the global market progress in the period of the forecast.