(MENAFN- GlobeNewsWire - Nasdaq) The global chemical, biological, radiological, and nuclear (CBRN) security market is growing due to an increase in global threat, increase in focus on biosecurity, international corporation and collaboration, and rise in awareness and regulatory compliance.
Wilmington,Delaware, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, " Chemical, Biological, Radiological, and Nuclear (CBRN) Security Market by Type (Chemical Security, Biological Security, Radiological Security and Nuclear Security), Function (Decontamination, Protection, Detection and Simulation), and Application (Military, Law Enforcement, Commercial and Industrial and Healthcare): Global Opportunity Analysis and Industry Forecast, 2024-2033" . According to the report, the chemical, biological, radiological, and nuclear (CBRN) security market was valued at $18.7 billion in 2023, and is estimated to reach $29.9 billion by 2033, growing at a CAGR of 5.1% from 2024 to 2033.
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Prime Derminants of Growth
The rise in global terrorism, geopolitical tensions, and the proliferation of CBRN materials significantly drive the demand for advanced CBRN security solutions. The need to protect against both state and non-state actors who may use CBRN agents has heightened the focus on security measures. Furthermore, continuous innovation in detection, monitoring, and decontamination technologies enhances the effectiveness and efficiency of CBRN security solutions. Advances in sensors, artificial intelligence, and data analytics enable more accurate threat detection and quicker response times. Moreover, the need to protect critical infrastructure, industrial facilities, and public spaces from potential CBRN incidents drives the demand for comprehensive security measures. Sectors such as healthcare, pharmaceuticals, energy, and transportation are particularly sensitive to CBRN threats.
By Type
The chemical security segment is expected to grow faster throughout the forecast period.
The chemical security segment is anticipated to experience faster growth in the chemical, biological, radiological, and nuclear (CBRN) security market due to the widespread use of chemicals in various industries such as manufacturing, pharmaceuticals, agriculture, and energy necessitates robust chemical security protocols. Ensuring the safe production, storage, transportation, and disposal of chemicals is critical to prevent accidents and deliberate attacks.
By Function
The protection segment is expected to grow faster throughout the forecast period.
The protection segment is anticipated to experience growth in the chemical, biological, radiological, and nuclear (CBRN) security market, due to fact that protection includes personal protective equipment (PPE) such as suits, masks, gloves, and respiratory gear designed to safeguard individuals from CBRN threats. Ensuring the safety of first responders, military personnel, and healthcare workers in hazardous environments is paramount, driving high demand for protective gear.
By Application
The military segment is expected to grow faster throughout the forecast period.
The military segment is anticipated to experience growth in the chemical, biological, radiological, and nuclear (CBRN) security market as the military forces operate in environments with elevated risks of CBRN threats, whether from state actors, terrorist groups, or non-state entities. The high level of threat perception necessitates substantial investment in CBRN security measures to ensure the safety and operational readiness of military personnel.
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By Region
North America to maintain its dominance by 2033.
North America is expected to maintain its dominance in the chemical, biological, radiological, and nuclear (CBRN) security market by 2032 as North America, particularly the U.S., faces significant threats from terrorism, geopolitical tensions, and industrial accidents involving CBRN agents. This high threat perception drives the demand for comprehensive CBRN security measures to protect national security and public safety. Furthermore the U.S. government allocates substantial funding to CBRN defense through various agencies, including the Department of Defense (DoD), the Department of Homeland Security (DHS), and the Department of Health and Human Services (HHS) . These funds support research, development, procurement, and implementation of advanced CBRN security solutions.
Players:
AirBoss of America Corp Argon Electronics Ltd. Avon Rubber PLC BioFire Defense, LLC Blucher GmbH Bruker Corporation FLIR Systems, Inc. HDT Global MSA Safety Incorporated Thales Group
The report provides a detailed analysis of these key players in the global Chemical, Biological, Radiological, and Nuclear (CBRN) Security market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Industry News
In February 2024, Avon Protection, renowned for its pioneering CBRN personal protective equipment, introduced the EXOSKIN-S1 CBRN protective suit, a crucial addition to its lineup of protective wear, signifying a notable advancement in safeguarding individuals operating in CBRN threat environments globally. In October 2023, Thales and Bertin have strengthened their partnership in CBRN defense by successfully testing biological sampling and identification capabilities for the PIABC PELICAN project. This partnership leverages the strengths of both companies to develop innovative solutions for detecting and managing CBRN threats. In June 2023, the European Union (EU) and India have enhanced security cooperation through Chemical, Biological, Radiological, and Nuclear (CBRN) training initiatives. This collaboration aims to strengthen preparedness and response capabilities against CBRN threats through knowledge exchange, capacity-building, and joint training exercises.
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