Counter IED Industry - Regional Synopsis
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 industry is poised to account for largest revenue share by 2037, 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.
APAC Market Analysis
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.
