Global Counter IED Market Development Status, Emerging Technologies, Regional Trends and Comprehensive Research Study 2023
Counter improvised explosive devices (IEDs) are crucial systems in battle operations, mainly formed for military forces and law enforcement. These systems are used to detect explosives and dispose of IEDs for counter-insurgency, counter-terrorism, and efforts on the part of law enforcement organizations. Counter IED systems such as handheld, vehicle mounted, naval vessel mounted, and airborne counter IED systems are globally used by the militaries and homeland security agencies.
The nature of warfare has changed significantly over the past decade. It is transforming from being weapon centric to technology-centric. Currently, the use of advanced technology is a key determining factor for the success rate of military missions. It helps in enhancing the situational awareness and reducing the number of casualties. As a result, the defense authorities around the world are focusing on procuring various equipment such as communication devices, navigation gadgets, upgraded weapon sights systems, counter systems, and exoskeleton systems which transforms common soldiers into high-tech warriors. The counter IEDs are one such system. Meanwhile, the companies are also focused on making new counter IED systems that are small, weighs less, consumes less power, and can detect IEDs more efficiently, which will help the soldiers to enhance their performance and help in delivering effective military operations.
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The global counter IED market is expected to register a 2.92% CAGR during the forecast period from 2018 to 2023. In 2017, the market was led by North America with a 31.24% share, followed by Asia-Pacific and Europe with shares of 25.28% and 22.80%, respectively. The growth of the global counter IED market can be attributed to the increase in military spending, rising terrorist attacks and focus on counter operations, and increased use of unmanned systems for countering IEDs.
Lockheed Martin Corporation (US), Thales Group (France), Northrop Grumman Corporation (US), and General Dynamics Corporation (US) are the leading players and together accounted for over 42.02% of the market share in 2017. BAE Systems (UK), Chemring Group (UK), Elbit Systems (US), Harris Corporation (US), L3 Technologies, Inc. (US), and Raytheon Company (US) are some of the other companies operating in the market.
Objective of the Global Counter IED Market Report – Forecast to 2025
• To provide insights into factors influencing the market growth
• To provide historical and forecast revenue of the market segments and sub-segments with respect to regional markets and their key countries
• To provide historical and forecast revenue of the market segments based on capability, deployment, end-user, and region
• To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market
• Component Manufacturers
• Government and Regulatory Authorities
• Defense Organizations
• Original Equipment Manufacturers (OEMs)
• Other Service Providers
• In this report, the global counter IED market has been segmented on the basis of capability, deployment, end-user, and region
• The global counter IED market has been segmented, by capability as detection and countermeasure. The detection segment market is projected to register the highest CAGR of 3.06% during the forecast period.
• The global counter IED market has been segmented, by deployment as vehicle mounted, ship mounted, airborne mounted, handheld, and others. The airborne mounted segment market is projected to register the highest CAGR of 3.25% during the forecast period.
• The global counter IED market has been segmented on the basis of end-user into military and homeland security. The military segment market is projected to register the highest CAGR of 3.10% during the forecast period.
• North America would dominate the counter IED market by 2025. It is expected to register a CAGR of 3.03% during the forecast period.
The regional analysis also includes:
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
• Middle East & Africa
o Saudi Arabia
o Rest of the Middle East & Africa
• Latin America
o Rest of Latin America
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This post was originally published on Aerospace Industry