Counter IED Market Share

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.

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.

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of counter IED is estimated at USD 2.59 billion.

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. The market growth is impelled by rising focus on the developments of counter-IEDS and increasing incidences of terror attacks all across the world.

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.

The major players in the market are Lockheed Martin Corporation, Northrop Grumman Corporation, Thales Group, Elbit Systems Ltd, Chemring Group PLC, and others.

Counter IED Market Share