Counter-IED Market

The global counter-IED market is estimated to expand at a CAGR of ~3% during the forecast period

ALBANY, NEW YORK, UNITED STATES, October 1, 2020 /EINPresswire.com/ -- Transparency Market Research delivers key insights on the global counter-IED market. In terms of revenue, the global market is estimated to expand at a CAGR of ~3% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global counter-IED market.

Counter-IED (improvised explosive device) is part of a broader counter-terrorism, counter-insurgency, or law enforcement effort. Counter-IED is an interdisciplinary process for evaluating and adjusting measures to discover, prevent, mitigate, and recover from IED incidents and their consequences. These systems are largely utilized in military and law enforcement applications. Counter-IED systems include anti-tank, anti-personnel mine, and IED detection systems. Thus, an increase in trend of making counter-IED systems quicker, reliable, and safer is projected to boost the demand for counter-IED across the globe in the near future.

The global counter-IED market has been broadly segmented by solution, deployment, and end user. Based on solution, the market has been divided into detection [ads-above-surface detection system, mids-underground mine and IED detection system, stand-off IED detector, and remote IED detection equipment], and countermeasure [jammer and neutralization {NEID, and EOD}]. Based on deployment, the market has been segmented into vehicle mounted [manned and unmanned], ship mounted, airborne mounted [aircraft, aerostat, and UAV], and handheld. In terms of end user, the market has been bifurcated into military and law enforcement. Based on deployment, the vehicle mounted segment holds significant market share and is anticipated to expand at a rapid pace during the forecast period.

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Counter-IED Market: Dynamics

The rise in use of IEDs to conduct terrorist and insurgency activities across the globe is a matter of concern for military and security forces of multiple countries, as it hinders the political, social, and economic development of a country. Threat of IED attacks is a global issue, which is compelling multiple government organizations to focus on the development of technologically advanced IED detection systems such as vehicle mounted early warning of indirect indicators of IEDs. This technology is based on remotely operated unmanned ground vehicle (UGV) platforms with multi-camera head to detect indicators of IED presence even if the vehicle is moving at a speed of 20-30km/h. The use of semi-autonomous robots for detection of mines and IEDs plays an important role in IED detection systems. Thus, a rise in technological advancements in IED detection systems is anticipated to have a positive impact on the global counter-IED market during the forecast period.

Moreover, rise in conflicts and territorial disputes between various nations in the Middle East and Asia Pacific has increased the demand for electronic warfare measures. Modern land systems are increasingly depending on information systems comprising communications & information systems, and networks & sensors. These systems have the potential to produce significant changes in the behavior of warfare.

IEDs can be hidden anywhere- on animals, planted in roads, or strapped to a person. They can be detonated via cell phones or trip wires, among other methods. Furthermore, IEDs can be deployed in a combat environment or in the middle of a busy city. IEDs are adaptable to almost any situation that makes them difficult to detect and neutralize, which is a highly challenging aspect about IEDs. The Department of Homeland Security in several countries is increasingly adopting counter-IEDs in order to reduce the threat of explosive attacks, and protect their citizens and country’s infrastructure against IEDs. These factors have led to a significant increase in the demand for counter-IEDs in homeland security agencies across the globe, which, in turn, is expected to boost the global counter-IED market during the forecast period.

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Counter-IED Market: Prominent Regions

According to regional analysis, North America is the dominant region of the global counter-IED market. The growth of the market in the region can be attributed to the significant manufacturing capability of players operating in North America to produce counter-IEDs for military and law enforcement use. The U.S. has proved to be the most diversified and dynamic market. A majority of vehicle mounted counter-IEDs are used by the military for evaluating and adjusting measures to discover, prevent, mitigate, and recover from IED incidents and their consequences. The increasing adoption of technologically advanced counter-IEDs in the defense field to reduce the threat of explosives is anticipated to drive the counter-IED market in North America in the next few years. The U.S. held a major share of the North America counter-IED market, in terms of revenue, followed by Canada, in 2019. However, in terms of revenue, the market in Mexico is anticipated to expand at a substantial CAGR during the forecast period. Additionally, Asia Pacific is focusing on the adoption of counter-IED to strengthen its defense sector. China is projected to hold larger share of the counter-IED market in the region during the forecast period. Thus, rising demand for counter-IED to reduce the broader counter-terrorism and counter-insurgency in the military field is anticipated to boost the counter-IED market in Asia Pacific during the forecast period. The market in Europe is estimated to witness prominent growth during the forecast period. The counter-IED market in Middle East & Africa and South America is expected to witness moderate growth in the near future.

Counter-IED Market: Key Players

Key players operating in the global counter-IED market are Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, Sierra Nevada Corporation, Allen-Vanguard, General Dynamics Corporation, Harris Corporation, L3 Technologies, Inc., Thales Group, Parnisari Arms, Chemring Technology Solutions, and Elbit Systems Ltd.

Mr Rohit Bhisey
Transparency Market Research
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