“Increasing incidences of terrorist attacks across the globe and technological advancements in the IED detection systems are the major factors driving the growth of the counter-IED market.”
The counter-IED market is projected to grow from USD 1.78 billion in 2017 to USD 2.03 billion by 2022, at a CAGR of 2.64% from 2017 to 2022. The growth of the counter-IED market is driven by several factors, which include changing nature of modern warfare, increasing incidences of terrorist attacks across the globe, rising instances of asymmetric warfare, and growing use of offensive weapons for tactical operations by militaries of different countries. However, high costs involved in the R&D activities of counter-IED equipment and technologies and the declining defense budgets of the developed countries are the factors that may restrain the growth of the counter-IED market in the US, the UK, France, and Germany.
“The countermeasures capability segment of the counter-IED market is projected to grow at the highest CAGR during the forecast period from 2017 to 2022.”
Based on the capability, the counter-IED market has been segmented into detection and countermeasures. The countermeasures capability segment of the counter-IED market is projected to grow at the highest CAGR during the forecast period from 2017 to 2022. This high growth of this segment of the market can be attributed to the increasing demand for various countermeasure systems that are deployed by the militaries and other agencies of different countries to neutralize the improvised explosive devices (IEDs).
“The Asia Pacific counter-IED market is projected to grow at the highest CAGR during the forecast period.”
The Asia Pacific counter-IED market is projected to grow at the highest CAGR during the forecast period. In the Asia Pacific region, the India counter-IED market is projected to grow at the highest CAGR during the forecast period, owing to increasing technological advancements in counter-IED equipment and devices, rising incidences of terrorist attacks, and growing instances of asymmetric warfare. The increasing demand for advanced military equipment from the emerging economies and rising terrorist activities in the Southern Asia are some of the factors fueling the demand for counter-IED equipment and devices in the Asia Pacific region. The tremendous increase in the military expenditure of different countries, rise in the number of improvised explosive device (IED) attacks, and modernization of armed forces of various countries, such as China, India, and Australia are the major factors leading to the growth of the Asia Pacific counter-IED market.
Break-up of the profiles of the primary participants of the counter-IED market:
- By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
- By Designation: C level – 45%, Director level – 25% , and Others – 30%
- By Region: North America – 10%, Europe – 20%, Asia Pacific – 40%, and RoW – 30%
Major companies profiled in the report on the counter-IED market are Lockheed Martin Corporation (US), Allen-Vanguard (Canada), Chemring Group (UK), General Dynamics Corporation (US), Raytheon Company (US), Elbit Systems Ltd. (Israel), and Northrup Grumman Corporation (US).
This report presents a complete analysis of the counter-IED market during the forecast period from 2017 to 2022. The counter-IED market has been classified on the basis of end user (military and homeland security), deployment (vehicle mounted, ship mounted, airborne mounted, handheld, and others), capability (detection and countermeasures), and region (North America, Europe, Asia Pacific, Middle East & Africa, and rest of the world).
Reasons To Buy the report:
From an insight perspective, this research report on the counter-IED market focuses on various levels of analysis ?industry analysis, vendor dive analysis, company profiles, and business strategies of the top players in the market. These insights together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the counter-IED market, high-growth regions and countries, and their respective regulatory policies, government initiatives, and drivers, restraints, opportunities, and challenges influencing the counter-IED market.
The report provides insights into the following pointers:
- Market Penetration: Comprehensive information on the counter-IED products and solutions offered by the top 10 players of the counter-IED market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the counter-IED market.
- Market Development: Comprehensive information about lucrative markets - the report analyzes markets for counter-IED solutions and products across different regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the counter-IED market.
- Competitive Assessment and Vendor Dive Analysis: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the counter-IED market.