Radiation detectors market to grow

Radiation detectors market to grow

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Glen Allen, VA-based industry analysis firm, NanoMarkets, announced Wednesday that it believes the radiation detector equipment market “is projected to grow from $25 billion in 2013 to $33 billion in 2020, and that homeland security and defense needs are driving the market.

10719882_s“The threat of nuclear terrorism will drive the need for radiation monitoring tools in the US and abroad,” Robert Nolan, Principal of NanoMarkets, told Homeland Security Today.

Nolan said “NanoMarkets believes … the market for radiation detectors for homeland security [purposes] will grow from approximately $1.3 billion this year [fiscal year 2013] to over $1.750 billion in 2020.”

NanoMarkets broke down the markets for radiation detection equipment in its newest market analysis report released Wednesday, Markets for Radiation Detection Equipment.

“Upheavals and instability in the Middle East, nuclear development in Iran, an erratically aggressive North Korea and violence and terrorism throughout the world demonstrate that, post-Usama Bin Laden, we still live in a world fraught with danger,” the report stated, adding, “Western nations continue to develop devices for use by their militaries and their citizens to be vigilant against the threat of nuclear terrorism.”

Thus “The need for sensitivity, certainty and portability in detectors is driving the development of new products,” the NanoMarkets analysis concluded.

i-HLS ISRAEL Homeland Security 

“Despite the gloomy forecasts for the world’s economic engines, most of the markets that employ radiation detection equipment are experiencing and will experience growth above that projected in the macro forecasts,” the company said in a statement announcing its analysis.

The firm said its analytical research indicated that there will be a high market demand for “radiation detectors used for homeland security, including systems for early detection at ports and locations and for emergency responders,” and “radiation detectors for military applications, including threat assessment and soldier safety.”

“Since 9/11, [the] Department of Homeland Security [DHS] has been primarily procuring portal monitors that employ plastic scintillation technology,” but “The lifetime of these devices is only about ten years, and thus many of these portal monitors will need to be replaced over the coming years,” stated a portion of the analysis provided to Homeland Security Today. “While monitor lifetimes can be extended by refurbishment to some extent, doing so would require some additional investment.”

“Replacement and maintenance of these devices will continue to be a key driver for homeland security within our forecast period,” the NanoMarkets analysis said.

“A second driver for homeland security is its need for improved technology. DHS’ technology programs are designed to address signal-to-noise issues in order to improve the spectroscopic interrogation of potential radioactive threats,” the analysis said. “Additional technology drivers include larger area scanners for better searching of large vehicles, the need for networked detectors systems covering larger geographic areas and increasingly mobile and remote scanners.”

“A final driver for homeland security, as demonstrated by the recent bombing of the Boston Marathon, is the need for detectors at public events,” the analysis said. “Although not a nuclear event, had the perpetrators obtained access to nuclear materials, their shrapnel bombs could have been converted to dirty bombs and caused much more havoc. There are several human portal scanners that are modular and mobile that can be set up at public events, and it appears that this application will be a lucrative market over the next decade.”

NanoMarkets said it “expects the market for radiation portal monitors to remain vibrant and grow rapidly over the forecast period. Replacement costs for portal monitors, changes to address the gaps in rail and air security, technology drivers toward spectroscopic instruments and the changing needs in public security seem to show no signs of slowing down.”