Radiation Detection Monitoring and Safety Market to record USD 1.48 Bn growth; Driven by increasing military expenditure -- Technavio

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Oct 10, 2022, 05:30 ET

NEW YORK, Oct. 10, 2022 /PRNewswire/ -- The "Radiation Detection Monitoring and Safety Market by Application and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.

Technavio has announced its latest market research report titled Global Radiation Detection Monitoring and Safety Market 2022-2026

The potential growth difference for the radiation detection monitoring and safety market between 2021 and 2026 is USD 1.48 billion. Technavio expects the market growth to be driven by increasing military expenditure. The report provides a comprehensive analysis of the key growth drivers, new product launches, vendor landscape, current market scenario, and much more. Understand the scope of the report. Download PDF Sample Report

Key Market Dynamics:

Market Driver
Market Challenges

The increasing military expenditure is driving the growth of the segment. Defense organizations across the world are making significant investments in R&D for the development of next-generation technologies. The market is also witnessing increased investments by countries in the defense sector. For example, in 2021, China allocated about USD 293 billion for military and defense in the budget, which was 4.7% more than the budget allocated by the country on defense in 2020. Such increased investments are expected to have a positive impact on the growth of the global radiation detection monitoring and safety market during the forecast period.

In addition, the increasing demand from the healthcare industry will further drive the growth of the market. However, the high cost of manufacturing radiation detection, monitoring, and safety devices will challenge market growth.

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The radiation detection monitoring and safety market report is segmented by application (healthcare, nuclear power plants, homeland security and defense, and industrial applications) and geography (North America, Europe, APAC, the Middle East and Africa, and South America).

By application, the market growth will be significant in the healthcare sector over the forecast period. The increasing use of radiation-based equipment in the diagnosis and treatment of several health conditions and diseases and the increasing adoption of diagnostic nuclear medicine equipment are driving the growth of the segment.

By region, North America will have a significant share of the market. About 34% of the market growth is expected to originate from this region over the forecast period. Factors such as the strong presence of key vendors, the increasing adoption of technologically advanced radiation detection, monitoring, and safety devices, and growing demand from various end-users, such as healthcare facilities and nuclear power installations are contributing to the growth of the radiation detection monitoring and safety market in North America.

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Key Companies in Radiation Detection Monitoring and Safety Market:

Baker Hughes Co.
ECOTEST
Fuji Electric Co. Ltd.
Honeywell International Inc.
International Medcom Inc.
Mirion Technologies Inc.
Polimaster LLC
Rapiscan Systems Inc.
Teledyne FLIR LLC
Thermo Fisher Scientific Inc.

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Radiation Detection Monitoring and Safety Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 7.21%
Market growth 2022-2026	USD 1.48 billion
Market structure	Fragmented
YoY growth (%)	6.12
Regional analysis	North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution	North America at 34%
Key consumer countries	US, China, Japan, Germany, and France
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	Baker Hughes Co., ECOTEST, Fuji Electric Co. Ltd., Honeywell International Inc., International Medcom Inc., Mirion Technologies Inc., Polimaster LLC, Rapiscan Systems Inc., Teledyne FLIR LLC, Thermo Fisher Scientific Inc., AMETEK Inc, Amray Medical, Arktis Radiation Detectors Ltd, Bar Ray Products Inc., Centronic Ltd, John Caunt Scientific Ltd., LANDAUER, Ludlum Measurements Inc., S.E. International Inc., and Unfors RaySafe AB
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
Exhibit 06: Executive Summary – Chart on Incremental Growth
Exhibit 07: Executive Summary – Data Table on Incremental Growth
Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 09: Parent market
Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 17: Five forces analysis - Comparison between2021 and 2026

4.2 Bargaining power of buyers

Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

5.1 Market segments

Exhibit 24: Chart on Application - Market share 2021-2026 (%)
Exhibit 25: Data Table on Application - Market share 2021-2026 (%)

5.2 Comparison by Application

Exhibit 26: Chart on Comparison by Application
Exhibit 27: Data Table on Comparison by Application

5.3 Healthcare - Market size and forecast 2021-2026

Exhibit 28: Chart on Healthcare - Market size and forecast 2021-2026 ($ million)
Exhibit 29: Data Table on Healthcare - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Chart on Healthcare - Year-over-year growth 2021-2026 (%)
Exhibit 31: Data Table on Healthcare - Year-over-year growth 2021-2026 (%)

5.4 Nuclear power plants - Market size and forecast 2021-2026

Exhibit 32: Chart on Nuclear power plants - Market size and forecast 2021-2026 ($ million)
Exhibit 33: Data Table on Nuclear power plants - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Chart on Nuclear power plants - Year-over-year growth 2021-2026 (%)
Exhibit 35: Data Table on Nuclear power plants - Year-over-year growth 2021-2026 (%)

5.5 Homeland security and defense - Market size and forecast 2021-2026

Exhibit 36: Chart on Homeland security and defense - Market size and forecast 2021-2026 ($ million)
Exhibit 37: Data Table on Homeland security and defense - Market size and forecast 2021-2026 ($ million)
Exhibit 38: Chart on Homeland security and defense - Year-over-year growth 2021-2026 (%)
Exhibit 39: Data Table on Homeland security and defense - Year-over-year growth 2021-2026 (%)

5.6 Industrial applications - Market size and forecast 2021-2026

Exhibit 40: Chart on Industrial applications - Market size and forecast 2021-2026 ($ million)
Exhibit 41: Data Table on Industrial applications - Market size and forecast 2021-2026 ($ million)
Exhibit 42: Chart on Industrial applications - Year-over-year growth 2021-2026 (%)
Exhibit 43: Data Table on Industrial applications - Year-over-year growth 2021-2026 (%)

5.7 Market opportunity by Application

Exhibit 44: Market opportunity by Application ($ million)

6 Customer Landscape

6.1 Customer landscape overview

Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation

Exhibit 46: Chart on Market share by geography 2021-2026 (%)
Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison

Exhibit 48: Chart on Geographic comparison
Exhibit 49: Data Table on Geographic comparison

7.3 North America - Market size and forecast 2021-2026

Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.4 Europe - Market size and forecast 2021-2026

Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.5 APAC - Market size and forecast 2021-2026

Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.6 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.7 South America - Market size and forecast 2021-2026

Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026

Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026

Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 Germany - Market size and forecast 2021-2026

Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.11 Japan - Market size and forecast 2021-2026

Exhibit 82: Chart on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 83: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
Exhibit 84: Chart on Japan - Year-over-year growth 2021-2026 (%)
Exhibit 85: Data Table on Japan - Year-over-year growth 2021-2026 (%)

7.12 France - Market size and forecast 2021-2026

Exhibit 86: Chart on France - Market size and forecast 2021-2026 ($ million)
Exhibit 87: Data Table on France - Market size and forecast 2021-2026 ($ million)
Exhibit 88: Chart on France - Year-over-year growth 2021-2026 (%)
Exhibit 89: Data Table on France - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography

Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges

Exhibit 91: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape

Exhibit 92: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption

Exhibit 93: Overview on factors of disruption

9.4 Industry risks

Exhibit 94: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered

Exhibit 95: Vendors covered

10.2 Market positioning of vendors

Exhibit 96: Matrix on vendor position and classification

10.3 Amray Medical

Exhibit 97: Amray Medical - Overview
Exhibit 98: Amray Medical - Product / Service
Exhibit 99: Amray Medical - Key offerings

10.4 Fuji Electric Co. Ltd.

Exhibit 100: Fuji Electric Co. Ltd. - Overview
Exhibit 101: Fuji Electric Co. Ltd. - Business segments
Exhibit 102: Fuji Electric Co. Ltd. - Key offerings
Exhibit 103: Fuji Electric Co. Ltd. - Segment focus

10.5 Honeywell International Inc.

Exhibit 104: Honeywell International Inc. - Overview
Exhibit 105: Honeywell International Inc. - Business segments
Exhibit 106: Honeywell International Inc. - Key news
Exhibit 107: Honeywell International Inc. - Key offerings
Exhibit 108: Honeywell International Inc. - Segment focus

10.6 LANDAUER

Exhibit 109: LANDAUER - Overview
Exhibit 110: LANDAUER - Product / Service
Exhibit 111: LANDAUER - Key offerings

10.7 Ludlum Measurements Inc.

Exhibit 112: Ludlum Measurements Inc. - Overview
Exhibit 113: Ludlum Measurements Inc. - Product / Service
Exhibit 114: Ludlum Measurements Inc. - Key offerings

10.8 Mirion Technologies Inc.

Exhibit 115: Mirion Technologies Inc. - Overview
Exhibit 116: Mirion Technologies Inc. - Product / Service
Exhibit 117: Mirion Technologies Inc. - Key offerings

10.9 Polimaster LLC

Exhibit 118: Polimaster LLC - Overview
Exhibit 119: Polimaster LLC - Product / Service
Exhibit 120: Polimaster LLC - Key news
Exhibit 121: Polimaster LLC - Key offerings

10.10 S.E. International Inc.

Exhibit 122: S.E. International Inc. - Overview
Exhibit 123: S.E. International Inc. - Product / Service
Exhibit 124: S.E. International Inc. - Key offerings

10.11 Teledyne FLIR LLC

Exhibit 125: Teledyne FLIR LLC - Overview
Exhibit 126: Teledyne FLIR LLC - Business segments
Exhibit 127: Teledyne FLIR LLC - Key offerings
Exhibit 128: Teledyne FLIR LLC - Segment focus

10.12 Thermo Fisher Scientific Inc.

Exhibit 129: Thermo Fisher Scientific Inc. - Overview
Exhibit 130: Thermo Fisher Scientific Inc. - Business segments
Exhibit 131: Thermo Fisher Scientific Inc. - Key news
Exhibit 132: Thermo Fisher Scientific Inc. - Key offerings
Exhibit 133: Thermo Fisher Scientific Inc. - Segment focus

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist

Exhibit 134: Inclusions checklist
Exhibit 135: Exclusions checklist

11.3 Currency conversion rates for US$

Exhibit 136: Currency conversion rates for US$

11.4 Research methodology

Exhibit 137: Research methodology
Exhibit 138: Validation techniques employed for market sizing
Exhibit 139: Information sources

11.5 List of abbreviations

Exhibit 140: List of abbreviations

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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.

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