(MENAFN- America News Hour) Global Chemical, Biological, Radiological, and Nuclear (CBRN) Security Market is forecasted to reach $14 billion by 2024; growing at a CAGR of 3.7% from 2016 to 2024. CBRN security includes the various procedures and equipment, which are used to protect, detect, and decontaminate chemical, biological, radiological, and nuclear agents. CBRN incidents can occur accidentally, intentionally, or naturally. Growing worldwide concern over the prevention of CBRN attack has driven the growth of the CBRN security market. Several developing nations such as India and China are increasing their expenditure in suitable security structure to prevent the incidence of nuclear accidents.
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Demilitarization initiatives adopted by various nations, increasing threat from terrorist organizations, and rise in worldwide demand for radiopharmaceuticals are the major factors driving the global CBRN security market. However, high installation and maintenance cost may hinder the market growth. Technological advancement in CBRN security equipment would provide several growth opportunities for the market in the coming years.
The global CBRN security market has been segmented on the basis of type and function. By type, the market is segmented into chemical, biological, radiological, and nuclear. The nuclear segment accounted for the largest market share in 2016, driven by increasing usage of nuclear power as a source of renewable energy in electricity generation its huge demand in developing nuclear weapons.
By function, the market is further divided into detection, protection, simulation and decontamination. The protection equipment segment accounted for the largest market share in the overall function segment in 2016, owning to its extensive usage during severe injury caused by contact with chemical, biological, radiological, and nuclear hazards.
Geographically, the market has been categorized into North America, Europe, Asia-Pacific and Rest of the world (RoW). Based on geography, the global CBRN security market has been segmented into North America, Europe, Asia-Pacific and (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers Germany, UK, France, Russia, Scandinavia, and others. Asia-Pacific covers China, India, Japan, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Major companies operating in the CBRN security market are Bruker Corporation, Argon Electronics Ltd., FLIR Systems, Inc., HDT Global, Blucher GmbH, AirBoss Defense, Inc., General Dynamics Corporation, MSA Safety, Inc., Thales Group and Karcher Futuretech GmbH, among others.
The key takeaways from the report:
The report will provide detailed analysis of CBRN Security Market with respect to major segments such as type, and function
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
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Comprehensive analysis of market dynamics including factors and opportunities of the global CBRN Security Market
An exhaustive regional analysis of CBRN Security Market from 2015 to 2024 has been included in the report
Profile of the key players in the CBRN Security Market, will be provided, which include key financials, product & services, new developments and business strategies
Scope of CBRN Security Market
Type Segments
Chemical
Biological
Radiological
Nuclear
Function Type Segments
Decontamination
Protection
Detection
Simulation
Geographical Segments
North America
US
Canada
Mexico
Europe
Germany
France
United Kingdom
Spain
Others
Asia-Pacific
China
India
Japan
South Korea
Others
RoW
South America
Middle East
Africa
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