Counter IED Market Growth to Witness 3% CAGR due to the Adoption of IED by Insurgents

Pune, India, July, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Counter IED Market Research Report.

Market Synopsis:

Counter-Improvised Explosive Device (IED) has become a quintessential effort to counter threat networks that employ IEDs. The military, intelligence agencies, etc. devise proper approaches to tackle the threat network and not just the devices themselves. The accelerating developments in the adoption of IEDs by various terrorist organizations are acting as a catalyst for counter IED market growth. In the latest report published by Market Research Future (MRFR) on counter IED market, it has been highlighted that the market is set to grow at 3% CAGR from 2018 to 2023.

The use of IED dates back to the time of First World War, and, have seen technological developments across the years such as incorporating toxic attributes of chemical, infusing radioactive materials for more destruction, improvized nuclear explosives, etc. The advancements implemented on these explosives have opened up avenues for innovation in counter IED market. However, the market for counter IED has already been penetrated on a large-scale. Therefore, average growth is expected across the forecast period.

The demand for counter IED is poised to exhibit a steady growth which can be ascribed to the accelerating utilization of IEDs by insurgents globally- Taliban in Pakistan, Boko Haram in Nigeria, Al Shabaab in Somalia, ISIS in Syria, Houthis in Yemen, Al-Qaeda in Arabian Peninsula, etc. According to a report published by the Homeland Security Market Research in the U.S., the number of IEDs used in Afghanistan have increased by 400 percent since 2007. The constant threat posed by IEDs is a key factor responsible for driving the counter IED market. The major restraints to the market expansion are huge research & development costs involved, declining budget allocations in the defense sector, etc.

Global Counter IED Market Segmentation:

By end user, global counter IED market has been segmented into military, and, homeland security.

By capability, the market for counter IED is segmented into detection, and, countermeasure. The detection segment has been further sub-segmented into ADS-above-surface detection system, MIDS-underground mine and IED Detection system, remote IED inspection equipment, and, stand-off IED detectors. The countermeasure segment is sub-segmented into jammers, and, neutralization. The Remote Controlled Improvised Explosive Device (RCIED) will drive growth in jammers segment for countering remote-controlled improvised explosive devices.

By deployment, the market has been segmented into vehicle mounted, ship mounted, airborne mounted, handheld, and, others. The vehicle mounted segment has been sub-segmented into armored vehicles, Unmanned Ground Vehicles (UGVs). The ship mounted segment has been further sub-segmented into naval vessels, and, Unmanned Maritime Vehicles (UMVs). The Airborne mounted segment is sub-segmented into aircraft, aerostats, and, Unmanned Aerial Vehicles (UAVs). The vehicle mounted segment is expected to lead the segment, and airborne mounted segment will be witnessing technological advancements during the assessment period.

Access Report @ https://www.marketresearchfuture.com/reports/counter-ied-market-5988

Regional Analysis

By region, the global counter IED market has been segmented into North America, Asia Pacific, Europe, Middle East & Africa, and, South America. Asia Pacific market will account for a significant share of the market due to the presence of countries such as India, Pakistan, Afghanistan, etc. which are frequently targeted by terrorist organizations. The demand for counter IED in such countries will drive growth in Asia Pacific region. The market in China will also exhibit an upward shirt during the projection period. The markets in North America and Europe might have to face restraints owing to factors such as huge investments in research & development, budget cuts in military expenses, etc., especially in the U.S., the U.K., Germany, and, France.

The Middle East & Africa region will witness moderate growth owing to the need for countering IEDs used in countries such as Egypt, Syria, etc. Furthermore, Israel will play a major role in developing counter IED equipment. South America market has potential for steady growth due to internal conflicts going on in many of the countries.

Competitive Dashboard:

The key players of counter IED market profiled by MRFR in its report are Lockheed Martin Corporation (U.S.), Allen-Vanguard (Canada), Northrop Grumman Corporation (U.S.), Thales Group (France), Sierra Nevada Corporation (U.S.), General Dynamics Corporation (U.S.), Raytheon Company (U.S.), Chemring Group (U.K), Harris Corporation (U.S.), and, L3 Technologies, Inc. (U.S.). The players strive to minimize the gap between demand and supply in the market as well as develop products to meet the changing security needs through innovation, expansion of product portfolio, collaborations, agreements, research & development activities, etc.

Allen-Vanguard Corporation, a pioneer in counter IED market, has launched its newest product, ANCILE™, to safeguard the attendees of the G7 summit held in Canada. The new product developed is a counter-drone capability that provides an electric shield for defeating Unmanned Aerial Systems (UAS) or commercial drones. ANCILE™ can be integrated into suite or electronic asset, or can be used on a stand-alone basis, or can also be customized based on the requirement to prevent attacks and other nefarious activities by utilizing Allen-Vanguard’s battle-proven Radio Frequency (“RF”) inhibition technology.