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Explosive Detection Equipment Market to Grow by USD 2.68 Billion (2024-2028), with AI Revolutionizing the Landscape and Rising Passenger Traffic Driving Demand – Technavio

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NEW YORK, Oct. 15, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global explosive detection equipment market size is estimated to grow by USD 2.68 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 7.08%  during the forecast period. Increase in passenger traffic is driving market growth, with a trend towards emergence of laser spectroscopy detection technology. However, confidence breach due to the sale of counterfeit products  poses a challenge. Key market players include Agilent Technologies Inc., Analogic Corp., Autoclear LLC, BAE Systems Plc, Chemring Group Plc, DetectaChem Inc., iSENTECH, Kromek Group Plc, L3Harris Technologies Inc., LASER DETECT SYSTEM LLC, Leidos Holdings Inc., Morphix Technologies, Novatest Srl, OSI Systems Inc., Security Electronic Equipment Co. Ltd., Smiths Detection Group Ltd., Suzhou Aoteng Electron Technology Co. Ltd., Teledyne FLIR LLC, and Westminster Group Plc.

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Explosive Detection Equipment Market Scope

Report Coverage

Details

Base year

2023

Historic period

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.08%

Market growth 2024-2028

USD 2678.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.49

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

North America at 38%

Key countries

US, China, India, France, and UK

Key companies profiled

Agilent Technologies Inc., Analogic Corp., Autoclear LLC, BAE Systems Plc, Chemring Group Plc, DetectaChem Inc., iSENTECH, Kromek Group Plc, L3Harris Technologies Inc., LASER DETECT SYSTEM LLC, Leidos Holdings Inc., Morphix Technologies, Novatest Srl, OSI Systems Inc., Security Electronic Equipment Co. Ltd., Smiths Detection Group Ltd., Suzhou Aoteng Electron Technology Co. Ltd., Teledyne FLIR LLC, and Westminster Group Plc

Market Driver

Laser Detect Systems (LDS) of Israel has introduced a revolutionary explosive detection technology using laser spectroscopy. This portable solution can detect various materials, including explosives, narcotics, chemicals, biological substances, and minerals, through standoff or trace methods, eliminating the need for sampling. The technology integrates multiple spectral analysis and data fusion tools with real-time data collected via a laser beam. It can identify individually manufactured materials, leading to their production source, enhancing source tracking. Background noise, such as black pepper saturation, is eliminated, increasing reliability. This technology’s versatility and effectiveness will significantly contribute to the growth of the global explosive detection equipment market during the forecast period. 

The Explosive Detection Equipment (EDE) market is experiencing significant growth due to increasing threats from terrorists and other anti-social elements. Fixed systems and robotics are trending in this market for their ability to detect bulk explosives in public places. Safety is a top priority, and EDEs are essential for detecting nitroaromatics, nitrate esters, nitramines, inorganic nitrates, chlorates, and peroxides in military equipment, IEDs, homemade bombs, and conventional military force. LCD/LED screens and LED indicator lights provide real-time results, while Li-Ion batteries ensure uninterrupted operation. EDEs are used to detect explosives in war zones, territorial disputes, and defense and security applications. OSI Systems’ Spaser technology and graphene sensors are innovative solutions for detecting TNT, radiological components, chemical components, and biological components in ports, airports, and border control points. 

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Market Challenges

The explosive detection equipment market has faced scrutiny due to the sale of counterfeit devices to defense agencies in the Middle East and APAC. These faulty detectors, such as the ADE 651 handheld device produced by ATSC in the UK, have led to tragic consequences, including the loss of innocent lives and significant property damage. The reliability of handheld explosive detection devices has been questioned, leading governments to hesitate in purchasing from foreign vendors. This reluctance has negatively impacted the global supply chain and reduced the number of market contracts, thereby limiting growth opportunities for the explosive detection equipment market during the forecast period.The Explosive Detection Equipment (EDE) market faces significant challenges due to the increasing use of chlorates and peroxides in Improvised Explosive Devices (IEDs) by terrorists and militant groups. Military equipment is also a concern, as territorial disputes can lead to the deployment of conventional military force, increasing the risk of encountering explosives. IEDs come in various forms, including roadside bombs, large-vehicle borne IEDs, aerial bombs, and homemade bombs made from fertilizers, TNT, and radiological, chemical, or biological components. EDEs are essential for securing ports, airports, border control points, and public spaces. New technologies like Spaser, graphene, and portable X-rays are being developed to improve EDE capabilities. OSI Systems, laser spectroscopy, thermal neutron activation, artificial intelligence, ground penetration radar, vehicle-mounted devices, and flammable materials detection are key areas of focus. Defense spending and transportation, including aviation, remain significant markets for EDEs.

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Segment Overview 

This explosive detection equipment market report extensively covers market segmentation by  

Type 1.1 Hand-held detectors1.2 Ground-mounted screeners1.3 Vehicle-mounted mobile detectorsGeography 2.1 North America2.2 APAC2.3 Europe2.4 Middle East and Africa2.5 South America

1.1 Hand-held detectors-  The Explosive Detection Equipment (EDE) market is experiencing significant growth due to heightened security concerns worldwide. Governments and businesses invest heavily in EDE to ensure safety. Advanced technologies like X-ray systems, metal detectors, and trace detection equipment are driving market expansion. Manufacturers focus on innovation to improve accuracy and efficiency. The market is expected to continue growing, driven by increasing demand for reliable and effective EDE solutions.

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Research Analysis

The Explosive Detection Equipment (EDE) market encompasses a range of technologies designed to detect and identify explosive materials in various sectors. Portable X-ray devices, thermal neutron activation analyzers, and laser spectroscopy are among the advanced technologies used for explosive detection. The growing threat of terrorism has led to a significant increase in demand for EDE in transportation and aviation sectors. Military applications are also a major market for EDE, particularly for vehicle-mounted devices and robotics. EDE is used to detect flammable materials in public spaces, including LCD/LED screen monitors and bulk detection systems. Other technologies include handheld detectors, Spaser, and graphene-based sensors. EDE is essential in securing ports, airports, border control points, and other critical infrastructure from potential threats.

Market Research Overview

The Explosive Detection Equipment (EDE) market encompasses a range of technologies designed to identify and neutralize explosive threats in various sectors. Portable X-ray machines, laser spectroscopy, thermal neutron activation, and ground penetration radar are among the key technologies used for explosive detection. The market is driven by the heightened threat of terrorism, with a focus on transportation and aviation security. Military applications and law enforcement agencies also utilize EDE for defense spending and safety in public spaces. Laser spectroscopy and thermal neutron activation are non-destructive testing methods used for detecting explosives. Robotics and vehicle-mounted devices are used for bomb disposal and bulk detection in public places. Flammable materials, nitroaromatics, nitrate esters, nitramines, chlorates, and peroxides are common explosive components. EDE also includes Li-Ion batteries, LCD/LED screens, and LED indicator lights for user-friendly operation. EDE is essential for detecting IEDs, homemade bombs, and other explosive threats in public places, military equipment, and defense and security applications. War and terrorist activities, as well as anti-social activities, are major drivers of the market. EDE technologies are also used for detecting radiological and chemical components in explosives. Ongoing research in artificial intelligence, Spaser, and graphene is expected to advance the capabilities of EDE in the future. Ports, airports, and border control points are critical infrastructure that require advanced EDE systems for security. The market for EDE is expected to grow significantly due to the increasing demand for safety and security in public places and transportation. The use of EDE in defense and security applications, including military equipment and territorial disputes, is also expected to drive market growth.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeHand-held DetectorsGround-mounted ScreenersVehicle-mounted Mobile DetectorsGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Massive Gaming, Neowiz, and Kangwon Land Launched ‘Shen Shou Wan fu’ Slot Machine Offline

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‘Shen Shou Wan fu’ is an online slot game that features three powerful guardians, symbolizing immense wealth

Now available as physical slot machines in offline casinos through a collaboration with Kangwon Land

MVG plans to expand distribution with exclusive B2B rights to online channels for slot games

SYDNEY, Jan. 16, 2025 /PRNewswire/ — Massive Gaming(“MVG”) announced that it has launched the ‘Shen Shou Wan fu (神兽万福)’ slot game, co-developed with Neowiz, MVG’s parent company, and Kangwon Land, which hosts the only casino in South Korea open to locals. The game is now available in offline venues as slot machines.

‘Shen Shou Wan fu’ is an online slot game featuring motifs of the Golden Dragon (JIN LONG), Phoenix (FENGHUANG), and Haetae (XIEZHI), which symbolize luck and prosperity.

The slot machine debuted in offline casino venues. Key personnel from MVG and Neowiz worked closely on the art resources and software design of ‘Shen Shou Wan fu’, ensuring a seamless integration of creative and technical expertise. Kangwon Land managed the slot machine’s hardware design and manufacturing. This launch marks the first commercialization of software-based products through public-private collaboration in South Korea’s casino market.

After successfully establishing ‘Shen Shou Wan fu’ in the Korean market, MVG is ready to leverage this success for aggressive global sales. Holding exclusive rights to the slot game, MVG plans to expand its presence in the regulated gaming market by targeting key regions with strategic marketing and distribution.

A representative stated, “We are pleased to showcase our slot game in offline casinos with Kangwon Land,” adding plans to introduce diverse content for global markets.

Massive Gaming(MVG), a prominent B2B iGaming content provider and a subsidiary of Neowiz (KOSDAQ:095660), offers a diverse range of slot, table, and crash games, as well as an advanced Casino Management System and Live Streaming Services. With brands like Whale House, known for its unique slot games, and Blitzcrown, focused on non-traditional gaming experiences, MVG leads in innovative gaming solutions. Committed to high-quality service and technological excellence, MVG continues to expand its global presence. Learn more at: https://massivegaming.io/

 

 

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SOURCE Massive Gaming Pty. Ltd.

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LG Display Unveils 4th-Generation OLED Panel Optimized for AI Era

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SEOUL, South Korea, Jan. 15, 2025 /PRNewswire/ — LG Display, the world’s leading innovator of display technologies, continues to lead the way in large-sized OLED technology by unveiling its fourth-generation OLED TV panel. 33% brighter than the previous generation and optimized for the AI TV era, it is the industry’s first-ever OLED display to achieve a maximum brightness as high as 4,000 nits (1 nit is the brightness produced by a candle).

Panels with both high brightness and energy efficiency are essential for AI TVs, as they use upscaling that analyzes content in real time to deliver ultra-high picture quality of up to 8K. The industry also considers higher brightness to be a key picture quality factor because it enables more vivid images that are akin to natural human vision.

LG Display’s fourth-generation OLED TV panel meets the performance demands of the most advanced AI TVs, interacting in real-time with the TV’s on-device AI to deliver the perfect picture in any environment.   

The new panel’s innovation centers on a Primary RGB Tandem structure, which is LG Display’s proprietary technology that uses independent stacks of RGB elements to produce light. It had previously used a three-stack light source, with two layers of blue elements emitting relatively short energy wavelengths alongside red, green, and yellow elements in a single layer.

The Primary RGB Tandem structure applied to the fourth-generation OLED TV panel organizes the light source into four stacks by adding two layers of blue elements and independent layers of red and green elements. It improves maximum brightness by increasing the amount of light produced by each layer compared to the previous structure.

As well as increasing maximum brightness, LG Display has raised the latest OLED panel generation’s color brightness. Color purity is enhanced by separating the red, green, and blue elements – the three primary colors of light – into distinct layers, resulting in a color brightness of 2,100 nits, a 40% improvement over the previous generation (1,500 nits).

In addition, energy efficiency has been maximized in line with the significantly higher expected power consumption of AI TVs. By enhancing the fourth-generation OLED TV panel’s structure and power supply system, LG Display has reduced its temperature and achieved around 20% greater energy efficiency than the previous generation (in the case of a 65-inch panel).

It also delivers a customer experience that pushes the limits of display with stunning picture quality featuring perfect blacks and rich colors in any environment.

In general, a display’s color reproduction is affected by external light. As the screen reflects ambient light in a bright room, black may appear gray or overlapping reflections of nearby objects might disrupt the viewing experience. For example, while watching content featuring a night sky in a living room in the middle of the day, any sense of immersion would be broken if the sky appears foggy or if reflected furniture overlaps on the screen.

To solve this customer inconvenience, LG Display has developed a special film that offsets both light reflected from the display’s surface and light absorbed and reflected inside the panel. With the advantage of this ultra-low reflection technology, the company’s fourth-generation OLED TV panel blocks 99% of internal and external light reflections, realizing perfect black just like in a movie theater with the lights off even in a midday living room setting (500 lux).

A display’s color gamut and accuracy also decrease dramatically as the viewing environment gets brighter. However, this TV panel sees virtually no change in color gamut and offers 100% color accuracy at 500 lux. It is therefore the only display to overcome the viewing environment limitations of conventional displays.

Meanwhile, the fourth-generation OLED TV panel provides differentiated customer value through human-friendly technologies, such as by emitting only 45% blue light compared with the 70-80% level that would typically be produced by an LCD screen. Blue light is known to negatively affect users’ vision and circadian rhythms.

It additionally stands out as a sustainable display by adopting eco-friendly methods in the entire product life cycle from development to mass production, including using more than 90% fewer plastic raw materials than LCDs and improving the recycling rate of end-of-life product parts to over 92.7%.

LG Display will apply its fourth-generation OLED TV panel to its top-of-the-line mass-produced lineup this year to consolidate its dominance in the premium TV market.

The company then plans to gradually apply its Primary RGB Tandem technology to its Gaming OLED lineup, targeting the high-end gaming market with a diverse range of panels. This already includes the world’s fastest monitor panel equipped with the industry’s highest response speed and refresh rate, which are important specifications for gaming monitors, as well as bendable panels that adjust their curvature according to the gaming content.

“The fourth-generation OLED panel is the essence of innovation that exceeds the limits of existing displays by applying LG Display’s unique technologies such as Primary RGB Tandem and ultra-low reflection technology,” said Hyeon-woo Lee, Senior Vice President and Head of the Large Display Business Unit at LG Display. He added, “We will provide an unprecedented customer experience along with superior picture quality and user-friendly technology while strengthening our OLED technology leadership.”

About LG Display

LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is the world’s leading innovator of display technologies, including thin-film transistor liquid crystal and OLED displays. The company manufactures display panels in a broad range of sizes and specifications primarily for use in TVs, notebook computers, desktop monitors, automobiles, and various other applications, including tablets and mobile devices. LG Display currently operates manufacturing facilities in Korea and China, and back-end assembly facilities in Korea, China, and Vietnam. The company has approximately 70,707 employees operating worldwide. For more news and information about LG Display, please visit www.lgdisplay.com.

Media Contact:
Joo Yeon Jennifer Ha, Manager, Communication Team
Email: hjy05@lgdisplay.com

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SOURCE LG Display

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Agoda: Tokyo crowned top international destination for welcoming ‘The Year of the Snake’

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SINGAPORE, Jan. 16, 2025 /PRNewswire/ — As the Lunar New Year approaches, digital travel platform Agoda reveals the top 10 most sought-after cities in Asia to celebrate the start of ‘The Year of the Snake’. Japanese cities emerged as tourist favorites for the holiday period with Tokyo taking the top spot.

Tokyo is followed by Bangkok (Thailand), Osaka (Japan), Fukuoka (Japan), and Seoul (South Korea) rounding out the top five based on accommodation search data on Agoda. The list continues with Hong Kong, Sapporo (Japan), Singapore, Phuket (Thailand), and Hat Yai (Thailand) completing the top ten.

Asian travelers are drawn to celebrate the Lunar New Year in metropolitan hubs such as Tokyo, Bangkok, and Seoul. These cities offer an exciting array of festivities and cultural experiences, making them attractive destinations for a festive getaway. The rankings also reveal that travelers seeking international destinations enjoy a mix of climates, from the cooler weather in Osaka and Sapporo to the warmer temperatures in Phuket and Hat Yai.

Hiroto Ooka, Associate Vice President North Asia at Agoda shared, “The Lunar New Year is a special time for travelers, and it’s exciting to see Japanese cities like Tokyo and Osaka being such sought-after destinations during the holiday. Agoda is thrilled to be part of this journey, helping travelers welcome a prosperous ‘Year of the Snake’ and celebrate in style with great deals on flights, accommodations and activities.”

The Lunar New Year holiday marks new beginnings and the arrival of Spring, making it a popular travel period as people look to reunite with family and friends. ‘The Year of the Snake’ symbolizes rebirth and transformation and is said to present an auspicious opportunity for embracing self-discovery and exploring new horizons. Known for their association with good fortune, snakes inspire travelers to shed the old and welcome the new — whether by rediscovering familiar places or venturing abroad during this festive season. 

As travelers prepare for their Lunar New Year holidays, Agoda offers exceptional deals on over 5 million holiday properties, more than 130,000 flight routes, and over 300,000 activities available on the platform. Travelers can find the latest deals on the Agoda app or at agoda.com/deals.

–ENDS–

 

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SOURCE Agoda

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