Mine Counter-Measures Market 2019 Competitive Analysis and Growing Size, Share and Industry Trends Global Forecast Till 2023

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Mine Counter-Measures Market Overview:

Mine Counter-Measures 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 Counter-Measures 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 Counter-Measures 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.

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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 Counter-Measures (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 Counter-Measures Market has seen a remarkable growth during the forecast period and projected to witness a CAGR of 10%.

Mine Counter-Measures Market Segmentation:

Global Mine Counter-Measures 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 Counter-Measures equipment.

Geographically, the global Mine Counter-Measuret 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.

Mine Counter-Measures Market Key Players:

The prominent players in the Global Mine Counter-Measures 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.

The report for Global Mine Counter-Measures Market of Market Research Future covers extensive primary research. This is accompanied with a detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance.

The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.

Table Of Contents:

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market Size Estimation

2.5 Forecast Model

3 Market Landscape

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