The latest report on the Gunshot Detection Systems Market reveals impressive growth, with market size projected to expand from USD 824 million in 2022 to USD 2016.5 million by 2030, achieving a CAGR of 11.8% over this period.
Key Insights and Trends:
Advanced Technologies: Integration of artificial intelligence with optical and acoustic data is poised to enhance threat detection and tracking, driving market growth.
Increased Demand in Education Sector: In the US, major towns are implementing gunshot detection systems near schools, colleges, and universities to enhance security against gun violence.
Economic Impact: Gun violence costs the US approximately USD 557.2 billion in revenue losses annually, with taxpayers covering about 2.3% of this cost.
Wide Application: Gunshot detection systems can be installed both indoors and outdoors, providing comprehensive coverage and immediate alerts during active shooting incidents.
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Market Segments Overview:
Soldier Mounted Systems: Expected to account for the largest share in 2022, these lightweight and portable systems enhance situational awareness for soldiers. Key investments from countries like the US and UK under soldier modernization programs are boosting this segment.
Systems Segment: Dominating the solution segment, the system comprises essential sensors and hardware for gunshot detection, including acoustic sensors and display systems.
Outdoor Application: Leading the application segment, outdoor gunshot detection systems are critical due to the rise in global firearm incidents, providing essential security in open areas.
Regional Insights:
North America: The largest market share holder in 2022, driven by increased spending on border security and widespread adoption by law enforcement agencies.
Key Market Players:
Prominent companies include Shot spotter, Inc., (US) and Shooter Detection Systems LLC (US). Key players offering gunshot detection systems for the defence sector are Raytheon Technologies Corporation (US), QinetiQ Group (US), ACOEM Group (France), THALES (France), and Elta Systems Ltd. (Israel), among others.
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