Gunshot Detection Systems: Market Size. From $594. 00 million in 2020, the global Gunshot Detection Systems market is projected to reach $1,534. 95 million by 2028. Based on our analysis the market is expected to grow at a CAGR of 12.
New York, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Gunshot Detection Systems Market Analysis & Trends - Industry Forecast to 2028" - https://www.reportlinker.com/p06127668/?utm_source=GNW
6% from 2020 - 2028 timeframe.
Some of the prominent trends that the market is witnessing include adoption of advanced infrared and sound detection technologies, development of cost-effective gunshot detection systems, and growing concern over individual self-defense.
Global Gunshot Detection Systems Market: Market Dynamics
The gunshot detection system is employed by urban safety & protection companies in order to improve core services. Municipalities turn to smart cities that incorporate some safety and innovative features that enhance and ensure citizens’ livability and a better lifestyle. With little modification in the system, it might become possible for the manufacturers to help authorities and forces identify criminals and detect unlawful entry in the absence of gunshots. The rising adoption of gunshot detection systems by law enforcement agencies, due to increasing security concerns and minimizing enemy gunfire casualties in war zones is fueling the growth of the gunshot detection systems market across the globe. The growing incidences of shootings at public places are one of the key factors contributing to the growth of the market.
For instance, in 2018, ShotSpotter expanded its product infiltration across Chicago. It has covered more than 100 square miles beneath coverage as the region has an wide base of consumers. The company’s gunshot detection solutions are highly utilized by the people in Chicago in order to battle the problems connected to urban gun crime.
On the other hand, the high installation cost of the gunshot detection system in cities is likely to obstruct the profit boundaries. In addition, the development of cost-effective gunshot detection systems and their installation in smart cities will further boost the gunshot detection systems market.
Impact of COVID-19 on Gunshot Detection Systems
The outbreak of COVID-19 has a negative impact on the gunshot detection systems market is comparatively low as the procurement tactics of law enforcement agencies and martial forces to introduce gunshot detection systems have remained on track. Thus, the global defense industry was impacted severely as numerous product deliveries were either canceled or delayed. It is likely to decline the demand for gunshot detection systems in the upcoming years. The rapid spread of COVID-19 in Europe, the US & Asia Pacific has led to a significant drop in demand for GDS globally, with a corresponding reduction in revenues for various GDS suppliers and service providers across all markets owing to late delivery, manufacturing shutdown, the limited staff at manufacturing facilities, and limited availability of equipment. For instance, ShotSpotter, Inc., an acoustic gunshot detection company, put in place a mandatory and complete travel ban during the pandemic. The travel ban suspends all installation and project management activities. It resulted in delayed installation projects that were planned in March and April. Furthermore, due to these travel restrictions, scheduled deployments were delayed at the request of customers as they were dealing with their response to the pandemic.
Fixed/Ground Installations Segment Dominate the Market
The fixed/ground installations segment is expected to have largest share in the predict timeframe, due to the up-gradation in the safety system of current infrastructures such as universities, schools, and military infrastructures. Fixed gunshot detection systems use the acoustic sensor node detection technology to detect a gunshot event. Fixed/ground installations are carried out at a specific height from the ground. High security areas such as restricted military infrastructures are high potential fixed installation sites for gunshot detection systems. Military installations use fixed installations on walls, poles or border crossings. Fixed electro-optic systems are used by military personnel for enemy sniper localization.
North America Region is Leading in the Global Market Place
North America region is likely to have a huge demand in the forecast period due to the high number of firearm-related deaths in the region, especially in the US where firearm-related death rate is 25 times higher than other countries, rising number of shooting incidents in public places, concerts, schools, banks, etc. in this region, and growing availability of various types of gunshot detection systems to different law enforcement agencies, owing to presence of key manufacturers. Major US cities are planning to install indoor gunshot detection systems at universities, corporate office locations, and financial facilities, among others, over the next five years. The United States has been witnessing an increase in gun violence over the past few years due to which the law enforcement authorities have installed gunshot detection systems.
List of the Key Players Profiled in the Market Include:
• Tracer Technology Systems Inc.
• Raytheon Technologies Corporation
• Databuoy Corporation
• Thales Group
• Rheinmetall AG
• ACOEM Group
• Elbit Systems Ltd
• Israel Aerospace Industries Ltd
• Shooter Detection Systems, LLC.
• ShotSpotter Inc.
• QinetiQ Group
• Louroe Electronics
• Safety Dynamics, Inc.
• Microflown AVISA
List of the Regions/Countries Profiled in the Market Include:
• Rest of Europe
• New Zealand
• Rest of Asia Pacific
• Saudi Arabia
• Rest of Middle East
• Rest of Latin America
Rest of the World (RoW)
• South Africa
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