Global Metal Detector Market 2018-2022
About Metal Detector
A metal detector is an electronic instrument that detects the presence of metal nearby. These devices are mainly used in finding metal inclusions hidden within objects or metal objects buried underground. Metal detectors function on the principle of transmitting a magnetic field and analyzing a return signal from the target and environment.
Technavio’s analysts forecast the global metal detector market to grow at a CAGR of 6.06% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global metal detector market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Metal Detector Market 2018-2022
Technavio recognizes the following companies as the key players in the global metal detector market: First Texas Products, Garrett Electronics, Minelab, Rapiscan Systems, and View Systems.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is more government investments. The increase in government investments for the development of infrastructure is driving the demand for metal detectors. Many developing countries such as India and China are investing in the development infrastructure such airports, which boost the demand for metal detectors. By the end of 2015, China had 210 civilian airports.”
According to the report, one driver in the market is technological innovations and features. Technological innovations and features in metal detectors are driving the global metal detector market. Many vendors in the market are developing innovative products that meet the demand existing in the market. The latest innovation in metal detectors includes wireless audio, integrated GPS, and weatherproof platform.
Further, the report states that one challenge in the market is high cost of metal detectors. The high cost of metal detectors is hindering the growth of the global metal detector market. Prices of metal detector products differ in a variety of factors including detection surface design, LED indicators, alarm types, sensitivity levels, and warranty. Handheld metal detectors are priced in a range of $95 to $550.
First Texas Products