Global Mechanical Mine Clearance System Market Will be Valued at US$ 51.7 Mn by 2024-end, PMR Forecast

NEW YORK, March 8, 2017 /PRNewswire/ --

While the need for safe demining action is gradually becoming a necessity, the world awaits the arrival of affordable mechanical mine clearance systems. Demining action continues to gain traction across the globe, driving the adoption of mechanical mine clearance systems and reducing the casualty incidence rate while planting active landmines. Furthermore, the urgency of clearing landmines for rehabilitation purposes is also prompting the use of mechanical mine clearance systems. Persistence Market Research's recently published report estimates the global market for mechanical mine clearance systems to be presently valued at US$ 38.2 Mn, and anticipates it to bring US$ 51.7 Mn by the end of 2024.

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According to the report, titled "Global Market Study on Mechanical Mine Clearance Systems: Mine Flail Product Type Segment Projected to Hold Significant Market Value Share Through 2024 (http://www.persistencemarketresearch.com/market-research/mechanical-mine-clearance-system-market.asp )," the global market for mechanical mine clearance systems is projected to grow at a moderate pace, registering 3.9% CAGR over the forecast period. Factors that restrain the adoption of mechanical mine clearance systems include:

• High Installation Costs: Initial costs of setting up mechanical mine clearance systems, through rent or outright purchase, adds further complications to the end-user. Costly rentals apprehend operators from using the mechanical mine clearance vehicle in unreliable territories. Purchasing them becomes impractical as the cost of even a single unit is likely to add quite a lot of liability on the owner.
• Expensive Maintenance: The most crucial liability after purchasing mechanical mine clearance systems is maintaining them. Maintenance of mechanical mine clearance systems puts extra burden on the customers that will benefit from demining activities.
• Safety Concerns: Using mechanical mine clearance vehicles is hazardous for industrial workers. Complex operational mechanism and the risk of damaging vehicle from abrupt demining mishaps is also restraining their use in the mechanical demining market. Since mechanical mine clearance systems were developed to reduce onsite casualty rate in demining activities, such safety concerns depict a reversing image of these vehicles before potential buyers.
• Lack of Skilled Professionals: Despite of having remote control, operators face challenges in maneuvering mechanical mine clearance vehicles through cameras and display assistance. The operator is guarded in a safe armored area, but a risky line of work as such could easily scare millions of professional equipment operators.

A sample of this report is available upon request@ http://www.persistencemarketresearch.com/samples/13216

The report reveals that in 2016, not more than fifty-five mechanical mine clearance systems were sold in the world, and that this number is expected to reach 71 by 2024-end. These systems are available at an average price per unit of US$ 675,000. So, spending half a million dollars on a demining vehicle serves as a deterrent for active consumption of mechanical mine clearance systems. Regardless, more than 60% of global mechanical mine clearance system market is dominated by costly mine flail systems. The demand for mine flails has been projected to grow in the years to come, while combine mechanical mine clearance vehicles will register revenue growth at more than 4% CAGR.

Seven out of ten mechanical mine clearance systems sold in the world are put to use through manual operation. However, concerns regarding operator's safety has driven the adoption of robotic or remotely-controlled mechanical mine clearance vehicles, revenues from which are projected to reach US$ 15.9 Mn by 2024-end. The report also identifies Europe as the world's largest market for mechanical mine clearance systems. With over 40% stake in global revenues, nearly 30 mechanical mine clearance vehicles are expected to be sold in European countries by the end of 2024. Second-in-line is the Middle East & Africa (MEA) region, which will consume over fifteen mechanical mine clearance systems by the end of forecast period.

View Report Table of Contents, Figures, and Tables

Leading manufacturers of mechanical mine clearance systems include Hydrema Holdings ApS, Rheinmetall AG, Armtrac Limited, Aardvark Clear Mine Ltd., Digger DTR - Demining Technologies, CEFA, Way Industries a.s., DOK-ING d.o.o., MineWolf Systems AG, and Scanjack AB.

Queries regarding these research findings can be addressed to Persistence Market Research's analysts at media@persistencemarketresearch.com

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SOURCE Persistence Market Research