Northbrook, IL -- (SBWIRE) -- 11/30/2018 -- [192 Pages Report] The threat detection systems market was valued at USD 48.38 billion in 2015 and is estimated to reach USD 119.17 billion by 2022, at a CAGR of 13.11% during the forecast period.

The growth of this market is propelled by the increasing acts of terrorism across the globe in the past few years. Due to which governments in terror-affected nations to introduce new regulations making it mandatory to install advanced security systems across airports, commercial centers, and tourist destinations.

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The value chain analysis of the threat detection systems market shows the industry insights through raw material suppliers, component suppliers, system designers and manufacturers, system integrators, distributors, and providers of post-sales services. The major value to threat detection systems is added during the system designers and manufacturers, system integrators phases.

Based on product/systems the threat detection systems market has been segmented into, Explosive and Narcotics Detectors, Personal Radiation Detectors, Dosimeters, Survey Meters, Identifiers, Photo Ionization Detectors, Air Samplers, Chemical Agent Detectors, Biological Agent Detectors, Laser Systems, Radar Systems, Video Surveillance Systems, Perimeter Intrusion Detection Systems, Wideband Wireless Communication Systems and Biometric Systems.

Based on application the threat detection systems market has been segmented into, Defense, Public Infrastructure, Commercial, Industrial, Institutional, and Residential.

North America is expected to dominate the threat detection systems market during the forecast period. The region contains several manufacturers and component suppliers of threat detection and border security systems. North America is witnessing a continuous increase in the research & development activities, particularly in the high-energy laser system technologies.

The key restraining factor for the growth of the threat detection systems market is the concerns over intrusion of privacy. Companies have adopted the new product developments and partnerships, contracts, agreements, & joint-venture strategies, to expand their market presence and distribution networks in the threat detection market for the forecast period.

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Some of the major players in the threat detection systems market are Smiths Group PLC (U.K.), Safran S.A. (France), FLIR Systems Inc. (U.S.), and Thales S.A. (France). The initial capital investment on product development and setting up an efficient manufacturing process to build reliable products is quite high. Moreover, the companies also need to earn the trust of the market to gain new contracts; hence, the impact of new entrants is considerably low.

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