Immense Investment in Defense Sector Propelling the Growth of Counter IED Market
According to a new report published by Reports Monitor titled, “Global Counter-IED Market, Growth Opportunities, Innovations and Forecast, 2017-2025,” the Counter-IED market was valued at XX million in 2017, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Counter-IED is primarily designed to detect, mitigate and dispose of landmines and IEDs. This equipment can include various body armors to standard counter-explosive vehicles. The importance of this equipment lies in the fact that they can considerably reduce casualties.
The major factors driving the growth of global Counter IEDs market are increasing regional disputes, advancement in technology and growing internal security threats. Increased adoption by major defense forces is also facilitating the market growth. However, high research and development cost involved in the manufacturing of technology may significantly affect the market growth in a negative manner.
This report provides a detailed analysis of Counter-IED market, which includes current industry situations such as market size, growth and demands, market outlook, major players with their key strategies such as investment, mergers and acquisitions, value chain analysis and swot analysis. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth analysis along with important inputs from the various industry experts. The research is carried out with both extensive primary and secondary data sources with bottom-up and top-down approaches.
Global counter IED market is mainly segmented on the basis of operation, deployment and end-user. On the basis of operations, market is bifurcated into: detection and countermeasures, while based on deployment it is segmented into: vehicle mounted, ship mounted, air-mounted and others. Based on adoption by end-user market is bifurcated into: military and home land security. Based on geographical areas covered, market is studied across: North America, Europe, Asia-Pacific and Others. Immense investment in the defense sector by the developing economies is mainly influencing the Asia Pacific market, while advancement in technology and major companies is driving the growth of North America and Europe.
The major players operating in the market are: Lockheed Martin Corporation (U.S.), General Dynamics Corporation (U.S.), Allen-Vanguard (Canada), Raytheon Company (U.S.), Northrop Grumman Corporation (U.S.), Chemring Group (U.K), Thales Group (France), Harris Corporation (U.S.), Sierra Nevada Corporation (U.S.), and L3 Technologies, Inc. (U.S.).
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