Counter IED Market – Segmentation, Growth Factor, Future Trends, Shares, Key Findings, Competitive Landscape, Regional Analysis, Forecasts to 2023

Jun 6, 2019

Global Counter IED Market Size, Share, Growth: Information by Capability (Detection and Countermeasure), Deployment (Vehicle-Mounted, Ship-Mounted, Airborne, Handheld, and Others), End User (Military and Homeland Security), and Region—Forecast till 2023

Pune, India - June 6, 2019 /MarketersMedia/ —

In recent years, there has been a rising demand for counter IED systems due to the changing nature of warfare and development of robust counter IED systems by key players such as Lockheed Martin Corporation and Northrop Grumman Corporation. Concurrently, an increase in military spending is expected to drive investments in counter IED systems.

The global counter IED market is expected to reach a value of USD 2,053.0 million by 2023 at a CAGR of 2.92% during the forecast period of 2018 to 2023.

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The global counter IED market is expected to witness substantial growth during the forecast period. Counter improvised explosive devices (IEDs) are crucial systems in battle operations, mainly formed for military forces and law enforcement. These systems are used to detect explosives and dispose of IEDs for counter-insurgency, counter-terrorism, and efforts on the part of law enforcement organizations.

Regional Analysis:

The global counter IED market has been segmented, by region, into Asia-Pacific, North America, Europe, the Middle East & Africa, and Latin America. North America accounted for the largest market share in 2018. The region leads in global military expenditure and technological advancements, and thus, showcases a very high demand for counter IEDs. Although Canada invests in the development of counter IEDs, the market is primarily dependent on the US. Moreover, the current military operations in the Middle East will also result in the US focusing on developing new counter IED systems, which is expected to fuel market growth in the region. Hence, it is estimated that the counter IED market in North America would register a CAGR of 3.09% during the forecast period.

Market Segmentation:

• By Capability: Detection and Countermeasure
• By Deployment: Vehicle-Mounted, Ship-Mounted, Airborne,
Handheld, and Others
• By End User: Military and Homeland Security
• By Region: North America, Europe, Asia-Pacific, the Middle East &
Africa, and Latin America
The detection segment accounted for the larger market share of 67.53% in 2017, with a market value of USD 1,172.5 million.

Competitive Analysis:

The key players profiled in the global counter IED market include BAE Systems (UK), Chemring Group PLC (UK), Elbit Systems Ltd (Israel), General Dynamics Corporation (US), Harris Corporation (US), L3 Technologies (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Raytheon Company (US), and Thales Group (France).

Key questions addressed by the report
• What was the historic market size (2017)?
• Which segmentation (Capability/Deployment/End User) is driving
market growth?
• What will be the growth rate from 2018 to 2023?
• Who are the key players in this market?
• What are the strategies adopted by the key players?

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Source URL: https://marketersmedia.com/counter-ied-market-segmentation-growth-factor-future-trends-shares-key-findings-competitive-landscape-regional-analysis-forecasts-to-2023/521139

Source: MarketersMedia

Release ID: 521139

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