According to Market Research Future (MRFR), the global market for gunshot detection systems is expected to have a CAGR of more than 20% from 2018 to 2023 (forecast period).
The gunshot detection system, also known as the gunfire locator system, helps to detect and convey the locations of gunshot or gun firing by using optical, acoustic, or other sensors. These systems are mainly used by law enforcement officials and military personnel to determine the source and direction of the type of weapon fired. These systems help improve the situational awareness of soldiers and law enforcement personnel.
The main factor that boosts the global market for gunshot detection systems is the increasing incidence of gunshots in public places such as hospitals, metro/railway stations, schools, etc. At the same time, as a result of the rapidly increasing threat of terrorism, gunshot detection systems are being used across the globe, along with other insurgent activities in public places, by law enforcement officials, homeland security staff, and the military, to minimize the casualties of such events. Moreover, as a result of growing cross-border firing, the military authorities of some countries are installing gunshot detection systems at their national borders. This aspect also promotes the growth of the market.
Over the years, there has been a major rise in global military spending, which has also fuelled business growth. As stated by the Stockholm International Peace Research Institute (SIPRI), global military spending rose by 1.1% in 2017, accounting for nearly USD 1.74 trillion. In the same year, countries like China, Saudi Arabia, and India expanded their military expenditure by 5.6%, 9.2%, and 5.5%, respectively. In addition, India has overtaken the United Kingdom to become the fifth-largest defense spender in the world.
The global market for gunshot detection systems has been segmented by type of installation, type of product, end-user, and region.
Based on the type of installation, the market for gunshot detection systems is classified into fixed systems, portable systems, and vehicle-mounted systems. The fixed system segment registered for the largest market share in 2017. The segment for the portable system segment is projected to witness the fastest demand growth during the forecast period.
Depending on the product type, the global gunshot detection systems market is divided into indoor and outdoor. The outdoor segment registered for the largest market share in 2017 and is also projected to experience the highest growth in the industry during the forecast period.
Depending on the end-user, the market for gunshot detection systems is split between homeland security personnel and military forces. The military segment registered for the largest market share in 2017. Whereas, homeland security personnel segment is expected to witness the fastest market growth during the forecast period.
Region-wise, the global gunshot detection system market has also been segmented into North America, Europe, the Asia Pacific, the Middle East & Africa, and Latin America.
North America had the largest market share in 2017, primarily due to the massive production and sales of firearms and the rise in shooting incidents in the US, in particular. According to the ShotSpotter National Gunfire Index, there were nearly 87,000 gunfire incidents in 2017, in 87 cities in the United States in particular. At the same time, there has been a substantial selling of firearms in the country over the last two years. Owing to these factors, the government focuses on the installation of gunshot detection systems. Similarly, the fastest-growing market for gunshot detection systems is projected to be the Asia Pacific during the forecast era. This is mainly due to rising terrorist attacks, political disputes, and cross-border conflicts across the region.
The key players in the global gunshot detection system market are Raytheon Company (US), Thales Group (France), ACOEM Group (France), SST (ShotSpotter), Inc. (US), Shooter Detection Systems LLC. (US), Battelle Memorial Institute (US), Louroe Electronics (US), ELTA Systems - Israel Aerospace Industries Ltd. (Israel), Tracer Technology Systems, Inc. (US), Rheinmetall AG (Germany), Qinetiq (UK), and Safety Dynamics, LLC (US).