Counter IED Market size was valued at USD 2.53 billion in 2023 and is likely to reach USD 3.62 billion by 2036, registering around 2.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of counter IED is estimated at USD 2.59 billion.
The key drivers behind the growth of the market are internal and external security threats, technological innovations, modernization initiatives and territorial innovations for detection of improvised explosive devices (IEDs). Some other major forces which are expected to boost the counter IED market growth in the coming years are allocation of military expenditure for the equipment which help to combat the threat from IEDs and increasing attacks of improvised explosive devices. According to a report by the United Nations, in the recent years more than 4300 improvised explosive devices events have resulted to an evaluated 65,400 casualties. In the last decade, more than 360 humanitarian workers have been injured by IEDs. Moreover, IEDs are relatively cheaper as they are made of the materials which are commonly available. These devices are predicted to be heavily used in future encounters, which in turn is expected to raise the government expenditure on counter IED systems. This in turn is estimated to expand the market in the upcoming years.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
2.8% |
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Base Year Market Size (2023) |
USD 2.53 billion |
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Forecast Year Market Size (2036) |
USD 3.62 billion |
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Regional Scope |
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The counter IED market is segmented by deployment 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 on the back of rising use of airborne platforms by militaries of different countries in order to detect improvised explosive devices which are planted underground. Furthermore, the growth of this segment is also assessed to increase over the forecast period as these platforms are added with several types of payload and sensors to detect IEDs at different ranges. Additionally, on the basis of end users, the military segment is projected to occupy the largest market share during the forecast period owing to the increasing usage of counter IED equipment by military to tackle with the threats posed to public and private properties.
Our in-depth analysis of the global counter IED market includes the following segments
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By Deployment
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By Capability
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By End Users
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North America Market Statistics
On the basis of regional analysis, the global counter IED market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. North America is predicted to hold largest revenue share by 2036, on the back of presence of nations such as the United States where the threats from IEDs has been continuously increasing. This is also expected to lead to the country invest millions of dollars in order to combat these threats.
Moreover, Asia Pacific is anticipated to lead the counter IED market in terms of share in the future owing to the rising usage of improvised explosive devices in terror attacks and increasing defense spending in the region. For instance, China’s military spending increased from 2018 to 2019 by almost USD 8 billion. The calculated value amounted to be more than USD 260 billion in 2019. In addition, the growing emphasis of China to become a major trade hub in the world is also evaluated to drive market growth in APAC by the end of 2030.
February, 2021: Northrop Grumman received a contract worth $329.9 million from the U.S. navy to provide electronic warfare technology to Australia to help mitigate the risk from materials that can be detonated by radio signals.
Author Credits: Dhruv Bhatia
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