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(Transportation-News.com, July 17, 2018 ) Global Mine Counter-Measures Market Research Report Information by Type (Land Mines and Sea Mines), Equipment (Manned and Unmanned), Approach (Sweeping and Hunting), and Region - Forecast till 2023
Mine countermeasures are used to detect and counteract threats to military and commercial vessels. It works on a principle of sonar and acoustic systems, which navigate, detect, and classify targets. Mine countermeasures are primarily used in finding and safely detonating naval mines to keep naval vessels safe. Government and defense bodies of different regions are developing technologies to counter mine threats from enemies, which fuel the growth of the global mine countermeasures market. Increase in the number of transportation through ships and government mandated regulations regarding a nation’s safety will drive the growth of the market, throughout the forecast period. Increasing demand for advanced technologies to counter mines will influence the growth and create opportunities for the new entrants. However, the clearance process for some mines is complicated, as a result, advanced features and technologies are used. Due to usage of advanced technologies, the mines removal process gets costly and it will hamper the market growth. Furthermore, heavy equipment parts are difficult to handle during the operation.
Several contracts supported the growth of the market. For instance, in 2012, Thales Group signed a contract with Autonomous Surface Vehicles Ltd (ASV Ltd) to develop a re-configurable Unmanned Surface Vehicle (USV) to meet the challenges of future off-board Mine Countermeasures (MCM) operations. In 2018, General Dynamics Corporation tested the U.S. Navy’s Surface MCM Unmanned Undersea Vehicle (UUV) system. In 2015, Harris Corporation signed a contract with IDIQ to support the U.S. Navy’s maritime mine countermeasure efforts. The global mine countermeasures market has seen a remarkable growth during the forecast period and projected to witness a CAGR of 10%.
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Global Mine Countermeasures Market, by Segment
Global mine countermeasures market is segmented into type, equipment, approach, and region. On the basis of type, the market has been segmented into land mines and sea mines. On the basis of equipment, the market has been segmented into manned and unmanned. The unmanned equipment segment is estimated to register a high CAGR, during the forecast period, due to increased military procurement reform. On the basis of approach, the market has been segmented into sweeping and hunting. Mine sweeping segment is estimated to register a high CAGR during the forecast period due to continuous development and emergence of humanitarian and non-governmental organizations as end-users of mine countermeasures equipment.
Geographically, the global mine countermeasures market has been divided into five major regions of North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. North America will hold the largest market share in terms of value and volume, owing to developed defense infrastructure, increased vehicle sales, and increased government operations to defeating the threats from landmines or sea mines. Europe will witness the highest growth rate during the forecast period owing to the presence of leading players in Belgium, Sweden, Britain, Russia, and Germany.
Key Players
The prominent players in the global mine countermeasures market include ASV Global (U.K), Eca Group (France), Hydro Group plc. (U.K), Fr. Lürssen Werft GmbH & Co. KG (Germany). Public.Navy.mil (U.S.), Armada International (Thailand), Harris Corporation (U.S.), HEINEN & HOPMAN (Netherland), and General Dynamics Corporation (U.S.) are other players.
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