(MENAFN- America News Hour) Research Nester published a report titled“ Counter IED Market : Global Demand Analysis & Opportunity Outlook 2030 ” which delivers detailed overview of the counter IED market in terms of market segmentation by deployment, capability, end users, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global counter IED market is anticipated to record a CAGR of ~2.5% throughout the forecast period, i.e., 2022-2030. Based on deployment, the market is bifurcated into airborne mounted, ship mounted, vehicle mounted, handheld and others, out of which, the airborne mounted segment is anticipated to grow at the highest CAGR owing to increasing use of airborne mounted platform by military of several countries, so as to detect improvised explosive devices (IEDs) which are planted underground.
In 2021, governments of various countries are increasing focus on the development of counter IEDs by training homeland security personnel to come up with new solutions for EOD operations to tackle with improvised explosive devices. This is expected to be the major factor operating as a key opportunity for the growth of the counter IED market in the upcoming years.
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Based on regional analysis, the counter IED market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in North America is anticipated to hold the largest share owing to the increasing number threats from IEDs. This is projected to generate large investments from several government agencies in the region, which in turn is estimated to drive market growth in the coming years.
Rising Terror Attacks Incidents Worldwide to Boost Market Growth
With the increase in the incidences of terror attacks and asymmetric warfare globally, there is an increase in the investments for producing technologically advanced counter IED equipment. This will ultimately result in higher military budget allocation, which in turn is assessed to fuel the growth of the market in the upcoming years.
However, concerns regarding the inadequate access to counter IED technologies due to the application of the protectionist policies is expected to operate as a key restrain to the growth of counter IED market in the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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This report also provides the existing competitive scenario of some of the key players of the counter IED market which includes company profiling of Lockheed Martin Corporation, Northrop Grumman Corporation, Thales Group, Elbit Systems Ltd, Chemring Group PLC, L3Harris Technologies, Inc, Allen-Vanguard Corporation, Netline Communications Technologies, Sierra Nevada Corporation, SRC, Inc, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global counter IED market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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