The gunshot detection system market is estimated to register a CAGR of approximately 20% during the forecast period of 2018 to 2023.
The key players in the global gunshot detection system market are ELTA Systems – Israel Aerospace Industries Ltd. (Israel), Qinetiq (UK), Raytheon Company (US), Rheinmetall AG (Germany), Thales Group (France), SST (ShotSpotter), Inc. (US), Louroe Electronics (US), ACOEM Group (France), Battelle Memorial Institute (US), Tracer Technology Systems, Inc. (US), Shooter Detection Systems LLC. (US), and Safety Dynamics, LLC (US).
Over the years, there has been a large demand for the gunshot detection systems, primarily due to the increasing number of firearm related crimes such as mass shooting, VIPs being gunned down, among others, across the globe. In the recent years, the number of such violent incidents is on the rise and are unreported in a large number of cases. Therefore, it has become very essential for the government authorities as well as the law enforcement agencies to provide effective solutions and prevent such incidents.
The global gunshot detection system market has been segmented by installation type, product type, end-user, and region. On the basis of installation type, the gunshot detection system market is divided into fixed systems, portable systems, and vehicle mounted systems. In 2017, the fixed system segment dominated the global market, due to the usage of acoustic sensor node technology, which helps in the detection of the gunshots, from a large distance. It is expected that the portable system segment would witness the fastest market growth, during the forecast period, as the defense authorities and law enforcement agencies are focusing more on the portable/wearable technologies, in the recent years. Similarly, based on product type, the gunshot detection system market is divided into indoor and outdoor. In 2017, the outdoor segment dominated the global market and it is also expected to witness the fastest market growth, during the forecast period.
This is because of the increase of violent incidents in the recent years, in the national borders, on the streets, and political gatherings, among others. Likewise, on the basis of end-user, the gunshot detection system market is divided into homeland security personnel and military forces. In 2017, the military segment dominated the global market, as there have been large expenses by the defense authorities on the gunshot detection systems, in the recent years, to prevent the number of casualties at the borders. It is also expected that the homeland security segment would witness the fastest market growth, during the forecast period, as the law enforcement agencies are currently focused on curbing/preventing such incidents across the schools, hospitals, and metro/railway stations.
On the basis of region, the global gunshot detection system market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. In 2017, North America dominated the global market. The law enforcement agencies and the defense authorities in the region focus more on the advanced security systems, which would drive the growth of the regional market. Concurrently, in the recent years, the number of violent firearm incidents in the US, in particular, has been growing rapidly. As a result, the law enforcement agencies of the US are focused on deploying solutions so as to reduce the number of the gunfire casualties. Such factors bolsters the market growth.
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