Increasing concerns about nuclear terrorism and expanding use of medical imaging continue to fuel the need for accurate radiation detection equipment. Beyond traditional military and medical applications, industrial applications are also providing growth opportunities over the next eight years. This includes enhanced safety for nuclear power plants, as well as emerging applications such as monitoring of food irradiation.

Demand for radiation-detection devices in domestic security applications will grow from $1.35 billion currently to $1.92 billion by 2022. Military demand for radiation detector devices, meanwhile, will grow from $617 million currently to $731 million by 2018, and then to $868 million by 2022.

The military and security sectors are two of the fastest-expanding areas for radiation detection and attracting heavy investments. The bulk of radiation detection demand is centered in health care and medical applications, but those markets also represent the sector’s slowest growth rates.

One factor driving growth in the military and domestic security radiation-detect markets is the supposed increase in terrorist activity, and a need for radiation monitoring and control to help in confiscating illicit radioactive materials, maintaining tabs on emitted rays from known sources, and measuring radiation in the aftermath of terrorist activities.

The analysis identifies where the opportunities will be found in the radiation detection equipment market over the next eight years and it quantifies analysis in the form of an eight-year shipments and revenue forecast. These forecasts are broken down by type of equipment, end application, and geography. A broad range of radiation detection equipment, from personal dosimeters and handheld devices to radiation detection portals and aerial surveillance is analyzed.

The commercial implications of how the latest radiation detection equipment is speeding up detection, reducing false alarms, and offering better software support to enable more accurate detection and data tracking are acknowledged. And it examines the trend toward smaller and less-expensive devices. The analysis also examines how regulatory regimes in nuclear power and healthcare are shaping the need for radiation detection equipment.