Apr 23, 2019   SOURCE: BusinessWire

Global Outlook on the $1+ Billion Gunshot Detection System Market, 2024 - ResearchAndMarkets.com

The "Gunshot Detection System Market by Application (Commercial, Defense), Installation (Fixed Installations, Vehicle Installations, Soldier Mounted), System (Indoor, Outdoor), Solution (Systems, SaaS) and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The Gunshot Detection System (GDS) market size is expected to grow from USD 564 million in 2019 to USD 1,008 million by 2024, at a Compound Annual Growth Rate (CAGR) of 12.3% during the forecast period.

The gunshot detection system market is driven by several factors, such as increased rates of homicide deaths from gunfire in North America and increasing demand for gunshot detection systems in militaries for threat detection and identification is another factor driving the gunshot detection system market. The cost of installation of gunshot detection systems is very high and maintaining these systems is an additional expense for governments.

Key players offering gunshot detection systems for commercial applications include Shot Spotter Inc. (US) Shooter Detection Systems LLC (US), and Tracer Technologies Inc. (US). Key players offering gunshot detection systems for the defense sector are Raytheon BBN Technologies (US), QinetiQ North America (US), Acoem Group (France), Thales Group (France), Rafael Advanced Systems Ltd. (Israel), and Elta Systems Ltd. (Israel), among others.

Vehicle installations segment is estimated to account for the largest share of the gunshot detection system market in 2019

Based on installation, the vehicle installations segment is estimated to account for the largest share of the gunshot detection system market in 2019. The growth in the vehicle installations segment is owing to the upgradation of existing armored vehicle fleets. The increasing delivery of new armored vehicles is also leading to the increasing demand for armored vehicles. Increasing soldier modernization programs are also contributing to the demand for overall GDS.

Increasing demand for vehicle-mounted, soldier mounted, and drone mounted gunshot detection systems is expected to drive the market for the outdoor segment

Based on system, the outdoor segment is estimated to account for the largest share of the gunshot detection system market in 2019. High demand for vehicle-mounted and soldier mounted gunshot detection system is expected to drive this market.

North America is expected to lead the gunshot detection system market during the forecast period

North America has the highest firearms possession to population ratio across the world. The US in the region accounts for the largest civilian gunfire deaths. Need for better surveillance and safety systems from gunfire in cities are the prime drivers for gunshot detection systems in the region. Defense applications use Gunshot locator systems, which have greatly improved situational awareness and combat preparedness for military units. They have led to decrease in combat casualties in hostile environments from enemy fire.

Key Topics Covered

1 Introduction

1.1 Objectives of the Study

1.2 Market Definition

1.3 Study Scope

1.4 Currency & Pricing

1.5 Distribution Channel Participants

1.6 Market Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Market Size Estimation

2.3 Research Approach & Methodology

2.4 Data Triangulation

2.5 Assumptions for the Research Study

3 Executive Summary

4 Premium Insights

4.1 Attractive Growth Opportunities in the Gunshot Detection System Market

4.2 Europe Gunshot Detection System Market, By Application

4.3 North America Gunshot Detection System Market, By Application

4.4 Gunshot Detection System Market, By Installation

4.5 Gunshot Detection System Market, By Region

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Increasing Incidences of Shootings at Schools, Universities, and Hospitals

5.2.1.2 Minimizing Enemy Gunfire Casualties in War Zones

5.2.1.3 Increased Use of Gunshot Detection Systems By Law Enforcement Agencies in North America

5.2.2 Restraints

5.2.2.1 High Installation Cost of Gunshot Detection System in Cities

5.2.3 Opportunities

5.2.3.1 Increasing Importance of Gunshot Detection Systems in Smart Cities

5.2.4 Challenges

5.2.4.1 Technological Challenges in Integration With Command and Control Systems

5.2.4.2 Multi-Directional Gunshot Localization Capability

5.2.4.3 High Rate of False Alarms and Undetected Gunshot Incidents

6 Industry Trends

6.1 Introduction

6.2 Product Mapping (2012-2019)

6.3 Contract Mapping for Gunshot Detection System Market

6.4 Technological Developments

6.5 Patent Mapping From February 2012 to September 2018

7 Gunshot Detection System Market, By Installation

7.1 Introduction

7.2 Fixed Installations

7.2.1 Increasing Demand for Gunshot Detection Systems From Educational Institutions, Banks, Workplaces Have Increased the Demand for This Segment

7.3 Soldier Mounted

7.3.1 Increasing Demand for Soldier Wearable Gunshot Detection System is Driving the Demand for Gunshot Detection System

7.4 Vehicle Installations

7.4.1 Increasing Demand for Vehicle Gunshot Detection System in Military is Driving the Demand for Gunshot Detection System

8 Gunshot Detection System Market, By Application

8.1 Introduction

8.2 Commercial

8.2.1 Public Safety

8.2.1.1 Increasing Demand for Public Safety is Expected to Drive This Market

8.2.2 Education

8.2.2.1 Recent Shooting Incidents Have Increased the Demand for Gunshot Detection Systems in Educational Institutions

8.3 Defense

8.3.1 Air Force

8.3.1.1 Increasing Surveillance Activities for the Detection of Shooting Incidents and Protection of Drones From Gunfire is Expected to Drive This Segment

8.3.2 Military

9 Gunshot Detection System Market, By Solution

9.1 Introduction

9.2 Systems

9.2.1 Increasing Gunfire Incidents Across the Globe are Leading to the Increased Demand for the Gunshot Detection Systems

9.3 Saas

9.3.1 Increasing Demand for Subscription-Based Gunshot Detection Systems Projected to Drive the Market

10 Gunshot Detection System Market, By System

10.1 Introduction

10.2 Indoor

10.2.1 Increasing Demand for Gunshot Detection System From Educational Institutions is Driving the Market for Indoor Gunshot Detection System Market

10.3 Outdoor

10.3.1 Increasing Demand for Gunshot Detection System for Cities, Defense Installations, and Critical Buildings is Driving the Market for Outdoor Gunshot Detection System Market

11 Gunshot Detection System Market, By Region

11.1 Introduction

11.2 North America

11.3 Europe

11.4 Asia Pacific

11.5 Middle East

11.6 Rest of the World (RoW)

12 Competitive Landscape

12.1 Introduction

12.2 Company Rankings

12.3 Competitive Situations and Trends

12.3.1 Contracts

12.3.2 Agreements, Partnerships, and Collaborations

12.3.3 New Product/Technology Launches

12.3.4 Mergers & Acquisitions

12.4 OEM Competitive Leadership Mapping

12.4.1 Visionary Leaders

12.4.2 Innovators

12.4.3 Dynamic Differentiators

12.4.4 Emerging Companies

12.5 Start-ups Competitive Leadership Mapping

12.5.1 Visionary Leaders

12.5.2 Innovators

12.5.3 Dynamic Differentiators

12.5.4 Emerging Companies

13 Company Profiles

13.1 Introduction

13.2 SST Inc. (Shotspotter)

13.3 Shooter Detection Systems LLC

13.4 Acoem Group

13.5 Battelle Memorial Institute

13.6 Louroe Electronics

13.7 Tracer Technology Systems Inc.

13.8 Safety Dynamics Inc.

13.9 Databuoy Corporation

13.10 Rafael Advanced Defense Systems Ltd.

13.11 ELTA Systems Ltd.

13.12 Compagnie Industrielle Des Lasers (CILAS)

13.13 Microflown Avisa B.V.

13.14 V5 Systems Inc.

13.15 Information System Technologies Inc.

13.16 Raytheon BBN Technologies Corporation

13.17 Qinetiq North America

13.18 Thales Group

13.19 Rheinmetall AG

For more information about this report visit https://www.researchandmarkets.com/r/ye3pj2