Forecasted Revival of the Tomographic Explosives Detection (EDS) Market
According to a new market report, published by the Washington D.C. based Homeland Security Research Corp., the EDS industry revenues are forecasted to triple, from less than $0.9 billion in 2008, to more than $2.5 Billion by 2014, at a double-digit CAGR.
Washington, DC (PRWEB) June 25, 2009 -- The U.S. Tomographic Explosives Detection (EDS) Market, which declined during the past several years, is forecasted to experience a revival. According to a new market report, published by the Washington D.C. based Homeland Security Research Corp. (HSRC), the EDS industry revenues are forecasted to triple, from less than $0.9 billion in 2008, to more than $2.5 Billion by 2014, at a double-digit CAGR.
According to HSRC's analysts, the EDS, which uses a medical CT like technology to detect explosives in checked luggage at airports will experience an unexpected market surge for two main reasons:
| | - In this recessional economy, the Obama administration favors new job creation by providing long term federal funding to the American EDS industry . As one of the first actions to follow the signing of the "2009 American Recovery and Reinvestment Act", the administration earmarked $700 million to be invested in checked baggage screening facilities at 17 airports. According to the White House this funding will create 7000 new jobs.
- Congressional pressure to attain 100% screening of Air-Cargo on scheduled passenger flights. With no other reliable Air- cargo technology on the horizon, EDS-based screening is forecasted to constitute about 50% of the EDS industry revenues by 2014 .
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DHS Secretary, Janet Napolitano, who refrained since her nomination from expressing her Homeland security strategy in most sectors of the DHS, went out of her way with regards to the issue of EDS. she said: "Risks to transportation security could be reduced. Resources such as Explosives Detection Systems and transit, rail, and port security personnel contained in the recently passed American Recovery and Reinvestment Act of 2009 will enable the Department to accelerate the mitigation of risk in these areas"
About HSRC
Homeland Security Research Corp. (http://www.homelandsecurityresearch.net) provides premium market, technology and industry expertise that enable clients around the world gain critical insight into the business opportunities that exist within the Homeland Security market. Some of our government clients include U.S. Congress GAO, DHS, U.S. Army, U.S. Navy, EU, UK Ministry of Defence and NATO, among others. In addition, HSRC serves nearly 300 private clients including many Fortune 500 companies, as well as security decision makers worldwide
More information:
http://www.homelandsecurityresearch.net/2009/06/03/us-tomographic-explosives-detection-systems-eds-technologies-markets-2010-2014/
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