Tunnel Detection System Market 2021-2031
New Study Reports ” Tunnel Detection System Market 2021: Global Key Players, Trends, Share, Industry Size, Segmentation, Opportunities, Forecast To 2031″ has been Added on MarketResearchFuture.
Report Overview
The report on the Tunnel Detection System Market provided based on the recent developments and data that has been collated from the previous year’s looks to provide a thorough understanding. The market overview provided in the initial section looks to provide the reader with adequate information regarding the product and services. It focuses on the market definition along with the product applications and end-user industries. The report covers a period spanning from 2021 to 2031. Competitive analysis and prominent industry trends have been included in the in-depth study provided in the main section of the report.
Global sales of tunnel detection systems are set to be valued at over US$ 1.2 Bn in 2021, with stable long-term projections for the market, according to latest insights by Persistence Market Research. The report estimates the market to expand at around 5% CAGR from 2021 to 2031. Growing need for precise flow measurement technologies has led to heightened demand for tunnel detection systems from sectors such as oil & gas, power generation, and chemicals. Rapid technological advancements are also projected to complement market growth over the coming years.
Demand for tunnel detection systems witnessed a slump in 2020 due to prudent rate of investments undertaken by end users during the COVID-19 outbreak. However, the defense sector, being a key end user of this equipment, is expected to augment sales over the coming years. Considering the possibility of a stimulus in many countries, the long-term outlook on the market remains positive.
Key Players:
The report has profiled some of the Important players prevalent in the global like – Elbit Systems Ltd., ELPAM Electronics Ltd., Lockheed Martin, SensoGuard, US Radar Inc., Sensors & Software Inc and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Tunnel Detection System.
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Key Takeaways from Market Study
- Persistence Market Research predicts a healthy construction industry growth rate in economies such as the U.S., East Asia, India, the Middle East, and Africa, with focus on infrastructure and heavy civil construction. This overall expansion of the construction market, particularly in civic infrastructure, i.e. expressways and tunnels, is poised to offer novel growth opportunities for tunnel detection system manufacturers over the years to come.
- There has been an increase in requirements of tunnel detection systems in the recent past owing to espionage activities in prisons. Prisons have been updating themselves technologically. Persistence Market Research forecasts that prisons will be amongst highest demand creator of tunnel detection system through 2031.
- Extensive use of acoustics that are technologically advanced benefits end users in terms of increased precision in detecting underground tunnels. Hence, systems with cutting-edge features are anticipated to gain higher popularity over the years to come.
- Increasing number of players focusing on R&D related to tunnel detection systems is anticipated to significantly shape market growth over the next ten years.
- Ground Penetrating Radar (GPR) tunnel detection systems to hold over one-fourth market share.
- Military is projected to hold over 80% overall market share as an end user by 2031-end.
- The global tunnel detection system market witnessed a slump in 2020 due to the COVID-19 pandemic, with a recorded growth of -0.2%.
- The market in Israel is projected to expand at a CAGR of around 6%, while that in the U.S. at close to 5%, through 2031.
- The market in India and China is set to surge at around 5% CAGR each over the next ten years.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Tunnel Detection System Market Manufacturers
Tunnel Detection System Market Distributors/Traders/Wholesalers
Tunnel Detection System Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Major Highlights of the Tunnel Detection System Market Report:
- The Tunnel Detection System Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
- The report dives deeper into the market and explains the dynamic factors bolstering market growth.
- The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
- The report analyzes the Tunnel Detection System Market presence across major regions of the world.
- It determines the production & consumption capacities and demand & supply dynamics of each regional market.
- The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
- It provides company overview and SWOT analysis of each of the market players.
Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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