Gunshot Detection Systems Market worth $1,443 million by 2027 – Exclusive Report by MarketsandMarkets™

CHICAGO, Oct. 16, 2023 /PRNewswire/ — The Gunshot Detection Systems market size is projected to grow from USD 824 million in 2022 to USD 1,443 million by 2027, at a CAGR of 11.8% from 2022 to 2027 according to a new report by MarketsandMarkets™. To efficiently detect and track threats, advanced technologies like artificial intelligence will merge optical and acoustic data. In the upcoming years, these innovations are anticipated to accelerate market expansion.

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Browse in-depth TOC on “Gunshot Detection Systems Market”
192 – Tables46 – Figures186 – Pages
Gunshot Detection Systems Market Report Scope:
Report Coverage
Details
Market Revenue in 2022
$ 824 million
Estimated Value by 2027
$ 1,443 million
Growth Rate
Poised to grow at a CAGR of 11.8%
Market Size Available for
2018–2027
Forecast Period
2022–2027
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Installation, End User, Solution, Application and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
High rate of false alarms
Key Market Opportunities
Focus of law enforcement agencies to suppress gun-related crimes
Key Market Drivers
Need to track shooters and protect defense establishments effectively
 
In US, major towns have started tracking gunfire or gunshots near schools, colleges, and universities, as educational institutes are increasingly facing gunshot attacks that have threatened the security of students and staff. According to an analysis of CDC Fatal Injury-2019 and HCUP Non-Fatal Injury-2019, gun violence incidents cost US about USD 557.2 billion in revenue losses, of which taxpayers pay around 2.3%. As per the data released by CDC, around 15,889 people fall victim to gun homicides each year in US. As per statistics, 39% of all gun deaths in the country are homicides. A gunshot detection system can be installed indoors or outdoors and provides coverage in the event of an active shooting attack. When a gun is fired, the loud explosive noise triggers a network of sensors, cameras, or both, which instantly send summarized data about the acoustic event to a review center where acoustics experts review and classify the sound. Gunshot location technology can be used in buildings of any size with any number of floors. The area of incident detection is the coverage range within which shots fired will register with the technology and trigger an alert.
Soldier Mounted Systems segment is expected to account for the largest share in 2022.
Based on Installation, Soldier Mounted Systems segment is projected to lead the Gunshot Detection Systems industry during the forecast period. Soldier mounted systems are lightweight and easy to carry, and these features help in situational awareness for soldiers without reducing agility in movement. Militaries of several countries have invested in systems such as EARS (QinetiQ) and Pearl (ACOEM Group), which are a few types of wearable gunshot detection systems. Countries such as India, South Korea, and the US have decreased their defense spending and are focusing on strategically important military products. The adoption of solider mounted gunshot detection systems has increased over the last three years under the various soldier modernization program by countries like US and UK.
The System is projected to dominate market share in the solution segment during the forecast period.
Based on Solution, the system segment is projected to dominate the market share during the forecast period. The system includes the sensors and hardware required to detect gunshots. Numerous sensors, including display systems and acoustic sensors, are used in gunshot detection systems.
The Outdoor segment is projected to dominate market share in the system segment during the forecast period.
Based on application, the outdoor segment is projected to dominate the market share during the forecast period. The need for gunshot detection systems is rising due to an increase in firearm events throughout the world. The outdoor segment is forecasted to hold the highest market share for the segment.
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North America is expected to account for the largest share in 2022.
The Gunshot Detection Systems market industry has been studied in North America, Europe, Asia Pacific, Middle East & Africa and Latin America.  North America accounted for the largest market share in 2022. Law enforcement agencies are also increasingly using the technology, particularly in the North American region. Market growth in the upcoming years is probably going to be driven by increased spending in border security. These tools can aid border patrol agents in detecting and stopping smuggling, infiltration, and illegal immigration.
Prominent companies include Shot spotter, Inc., (US) and Shooter Detection Systems LLC (US). Key players offering gunshot detection systems companies for the defence sector are Raytheon Technologies Corporation (US), QinetiQ Group (US), ACOEM Group (France), THALES (France), and Elta Systems Ltd. (Israel), among others.
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