⁇ demographics & how many detectors are sold ⁇

ManInTheWaLL

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Like I would tell you, so you can find the 500 mil
Does anyone have any data on how many detectors are sold every year?

For example, care to guess how many Deus2's or CTX's have been sold?

I'm guessing it's a small market.


Any breakdown into what countries, or even states buy the most? Who buys what is always interesting, I have a product I sell, I've maybe sold 2 into NY CITY in the last 5 years, yet I've sold 35 into small areas of Indiana.
 
Or you could ask how many people pull pics of 3-4 detectors off the internet and claim they metal detect.
 
Google makes available a powerful image search engine. :roll:

Yeah , I know. When I saw his pics , I just couldn't do it.....Lol. I knew what I was gonna find and I am afraid I was gonna have to open my pie hole and spout off ! So this was more subdued since he asked a question.
 
Does anyone have any data on how many detectors are sold every year?

For example, care to guess how many Deus2's or CTX's have been sold?

I'm guessing it's a small market.


Any breakdown into what countries, or even states buy the most? Who buys what is always interesting, I have a product I sell, I've maybe sold 2 into NY CITY in the last 5 years, yet I've sold 35 into small areas of Indiana.

Garrett Ace series were top sellers, now Equinox.
 
I think the metal detector market is much like the tennis racket market.
Many different manufacturers making a variety of their products ranging from the cheap sold in big box stores like wally world to the very expensive sold at detector only retailers. Consumers buy the cheap, get disgusted and the racket or detector sits in the closet never to see the light of day again. Then there are the quality rackets and detectors that are used many times a week for hours on end by the dedicated people who can suffer through failure after failure and never quit.
I cannot understand how these manufacturers make enough profit to survive producing such a huge variety of low quality detectors and rackets.
 
Only numbers I've ever heard were from Gary Storm, the brain child of the Minelab Excalibur. He said in 2011 there were 27,000 excaliburs sold since 1997 and the reason he had this number was because he said he got a small percentage of each sale from Minelabs.
 
Just Minelab in 2021 had 346 million in worldwide sales. They sell a lot of detectors. Add in XP, Nokta/Makro, Garrett, and Fisher and it's hard to fathom where are these detectors are. I only know 3 other guys I detect with on a regular basis. My guess the hobby is at it's highest worldwide popularity ever right now despite not seeing a lot of people in my area detecting.
 
Just Minelab in 2021 had 346 million in worldwide sales. They sell a lot of detectors. Add in XP, Nokta/Makro, Garrett, and Fisher and it's hard to fathom where are these detectors are. I only know 3 other guys I detect with on a regular basis. My guess the hobby is at it's highest worldwide popularity ever right now despite not seeing a lot of people in my area detecting.

Can I ask where you got this info?

I'm thinking 85% was to military use.

And as a #, im going to guess 90 percent of the sales nowadays go to people buying low end stuff off amazon, etc.

Except for Gov sales, I don't see how they can even afford to do any research into the market. And.. most of these manufactures have other businesses where they are making the majority of their $. It's not the MD market.
 
Can I ask where you got this info?

I'm thinking 85% was to military use.

And as a #, im going to guess 90 percent of the sales nowadays go to people buying low end stuff off amazon, etc.

Except for Gov sales, I don't see how they can even afford to do any research into the market. And.. most of these manufactures have other businesses where they are making the majority of their $. It's not the MD market.
A lot of people buy multiples. I have 8 or 9 Minelabs. Aussies have no problem paying 20 grand for Minelab nugget detecting equipment.
 
I got it from the 2021 Codan annual report. In 2021 the Minelab segment was 80% of the companies sales. That would include military metal detecting sale along with recreational and gold detecting. I think I saw 40 million in engineering investment for 2022 company wide.
 
worldwide popularity now

Just Minelab in 2021 had 346 million in worldwide sales. They sell a lot of detectors. Add in XP, Nokta/Makro, Garrett, and Fisher and it's hard to fathom where are these detectors are. I only know 3 other guys I detect with on a regular basis. My guess the hobby is at it's highest worldwide popularity ever right now despite not seeing a lot of people in my area detecting.

I would think a lot of detectors are being sold in Europe now, especially with the great finds being discovered in United Kingdom by the general public. Articles all the time in the papers about one neat find after another. Australia is a big market for gold detectors as there is still a lot of gold to be found there. Many in Europe are big in relic hunting with all the wars fought there.
 
I got it from the 2021 Codan annual report. In 2021 the Minelab segment was 80% of the companies sales. That would include military metal detecting sale along with recreational and gold detecting. I think I saw 40 million in engineering investment for 2022 company wide.

I guess that means 40 million in research?

How many detectors do you think you would have to sell, to recoup 40 million?

I don't know anything about international sales, or military sales. All I know is, where I live, and my limited travels, the last time I saw someone with a metal detector was probably 30 years ago.

From
https://growjo.com/company/Minelab_Metal_Detectors

Competitor Name Revenue Number of Employees Employee Growth Total Funding Valuation
#3Minelab Metal D... $28.9M 118 8% N/A N/A

Estimated Revenue & Valuation
Minelab Metal Detectors's estimated annual revenue is currently $28.9M per year.

from:
https://www.konaequity.com/company/minelab-usa-4860311626/
Minelab USA's annual revenue
$4,134,000
 
Codan sales data (Minelab parent company) up to June 30 2021 which includes sales of military, commercial and hobby metal detector related products. Minelab is the metal detection division of Codan.

Metal detection revenue has almost doubled since the release of the Equinox, Vanquish, GPX 6000 (gold prospecting) and MF5 (countermine) starting in 2018.
 

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I guess that means 40 million in research?

How many detectors do you think you would have to sell, to recoup 40 million?

The $40 million is for the whole of Codan corporation and it is a goal rather than a budget, it is not for just the Minelab business segment.

On their last annual report, Codan stated that the Minelab division had $327 million in sales. They also show that their Engineeing Expenses (for the whole corpration) was $26.234 million, How could they possibly invest $40 million into R&D into just Minelab?

https://codan.com.au/wp-content/uploads/2022/05/Institutional-Investors-Presentation_Corporate.pdf

https://codan.com.au/wp-content/uploads/2021/09/Codan-Limited-Annual-Report-2021.pdf
 
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Yhe $40 million is for the whole of Codan corporation and it is a goal rather than a budget, it is not for just the Minelab business segment.

On their last annual report, Codan stated that the Minelab division had $327 million in sales. They also show that their Engineeing Expenses (for the whole corpration) was $26.234 million, How could they possibly invest $40 million into R&D into just Minelab?

https://codan.com.au/wp-content/uploads/2022/05/Institutional-Investors-Presentation_Corporate.pdf

https://codan.com.au/wp-content/uploads/2021/09/Codan-Limited-Annual-Report-2021.pdf

wow...

Care to guess what percentage is military/commercial sales?

I take it minelabs is the biggest company , at least selling these type of detectors? Or Garrett? or?
 
The 40 million was across the whole company. Looks like they were shooting for half billion in sales this year company wide.

Bottom line is a company is going to make a profit or they won't won't stay in business. Minelab has way more resources than anybody else from what I've seen. They are a big player in gold detection. counter-mine detection, and recreational detectors. They sell plenty of detectors to stay viable. 3 buddies and including myself= 10 Minelab detectors purchased in a small area of N.E. Arkansas. There is a officer in town that stopped and talked to me. He said he had an Equinox. I went to a golf course refurb in Memphis 4 etracs there and 2 Equinoxes, and we were there at the tail end of it.
 
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