Gunshot Detection System Market value $979 million by 2025

Posted June 15, 2021 by SandeepRoy

The gunshot detection system market is estimated at USD 594 million in 2020 and is projected to reach USD 979 million by 2025, at a CAGR of 10.5 % from 2020 to 2025.
According to the latest market research the report "Gunshot Detection System Market by Application (Commercial, Defense), Installation (Fixed, Soldier Mounted, and Vehicle Mounted), Product Type (Indoor, and Outdoor), and Region (North America, Europe, Asia Pacific, Middle East) - Global Forecast to 2025", is estimated at USD 594 million in 2020 and is projected to reach USD 979 million by 2025, at a Compound Annual Growth Rate (CAGR) of 10.5% from 2020 to 2025. Gunshot detection systems for homeland security were first used in the U.S. These systems are primarily used by law enforcement agencies. They are installed at a height of more than 30 feet above the ground at select locations of the coverage area. These include walls, poles, streetlights, and buildings, among others.

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Increase in the incidents of mass shootings in educational institutions is a prime concern. These systems installed at educational institutions places provide real-time updates on shooting events to security personal, along with individuals inside these places on their electronic communication devices. . Industry experts believe that COVID-19 could affect Gunshot Detection System production and services by 10% globally in 2020.

On the basis of application, commercial is projected to grow at the highest CAGR during the forecast period

Based on application, the commercial segment of the gunshot detection system market is projected to grow at the highest CAGR during the forecast period. The demand for increased security in futuristic smart cities is factor driving the gunshot detection system market. In the last three to five years large-scale installations of gunshot detection systems have taken place in cities of North America and some parts of Europe. Defense utilization of gunshot detection systems involves installation on armored vehicles, soldier wearables, border crossings, and for military installations at buildings and bases, among others. Defense systems are focused at localization of gunshot origin and providing information for counter-offensive strategies.

Increasing demand for gunshot detection system among public safety agencies is expected to drive the market for gunshot detection system during the forecast period.

Based on installation, the fixed segment is expected to grow at the highest CAGR during the forecast period. The global market is dominated by the vehicle installation segment and the market size for GDS systems on vehicle installations will increase based on the increasing demand for armored vehicles from the countries militaries.

The North America region is expected to lead the gunshot detection system market from 2020 to 2025

The US gunshot detection system market is projected to grow at the highest CAGR during the forecast period. Growth in gun ownership in the US and illegal arms sale have contributed to the threat of gunfire-related incidents. Rise in deaths or homicide incidents due to the use of guns is a major concern. The gunshot detection system market in North America is expected to witness growth, owing 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. 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.

Key Market Players

The major players in the gunshot detection system market include SST, Inc. (US), Raytheon (US), QinetiQ North America (US), Shooter Detection Systems, LLC. (US), Acoem Group (France), and Thales Group (France) among others. SST, Inc is one of the key market players engaged in securing contracts to increase the sale of gunshot detection systems.

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Issued By MarketsandMarkets
Country Germany
Categories Defense , Electronics , Technology
Tags gunshot detection system market
Last Updated June 15, 2021