Global Counter IED Market Trends, Demand and Forecast to 2023

Posted November 19, 2018 by monicanerkar31

Market Research Future added New Report Named "Global Counter IED Market Research Report- Forecast 2023" to its Database
Global Counter IED Market Report Information by End User (Military and Homeland Security), by Capability (Detection and Countermeasure), by Deployment (Vehicle Mounted, Ship Mounted, Airborne Mounted, Handheld, and Others), and by Region - Forecast Till 2023

Market Scenario

Counter-Improvised Explosive Devices (IEDs) are crucial systems in battle operations, mainly formed for military forces and law enforcement with assistance from financial and diplomatic groups. These equipment are used to sense explosives and to defeat IEDs as a part of broader counter-insurgency, counter-terrorism, and efforts on the part of law enforcement organizations. This involves a broad approach to counter threat networks which employ IEDs, defeating these systems themselves while training others. Counter-IED equipment is not only used against IEDs but also against enemies, such as terrorist groups and rebels, as these devices are a subset of many classes of asymmetric warfare. For instance, lightweight vehicles and battle tanks are some devices for countering IED threats.

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The key drivers of the global counter-IED market comprise regional disputes, modernization initiatives, external and internal security threats, and technological innovations. The modified explosive devices are effectively and extensively employed by insurgent groups. Growing IED attacks and the expansion of counter-IED usage in the global peacekeeping missions is going to be continued over the next decade. Many major army forces around the globe are spending on counter-IED equipment such as unmanned aerial vehicles and robots, mine-resistant vehicles, jammers blocking radio signals for IED detonation, and detection and disposal devices. Meanwhile, IEDs are relatively cheaper for making with commonly accessible materials; these devices will continue to threaten in future encounters. Hence, the expenditure on counter-IED systems continues to be a very important factor in future.

The rise in the usage of IEDs leads to counter-IEDs development, generating a new kind of arms race. Counter-IED equipment refers to equipment designed to detect, mitigate and dispose of landmines and IEDs. This equipment can include various body armors to standard counter-explosive vehicles. The importance of these equipment lies in the fact that they can considerably reduce casualties.

By capability segment, the counter-IED market is segmented into detection and countermeasures. The detection capability sub-segment of the counter-IED market has been additionally segmented into ADS-above-surface detection system, MIDS-underground mine and IED Detection system, remote IED inspection equipment, and stand-off IED detectors. The countermeasures capability segment of the market is categorized into jammers and neutralization. Remote Controlled Improvised Explosive Device (RCIED) jammers are the best possible deterrent in contradiction of remote-controlled improvised explosive devices.

Based on the deployment segment, the counter-IED market has been segmented into ship mounted, airborne mounted, vehicle-mounted, handheld, and others. The vehicle-mounted deployment segment is expected to lead the counter-IED market in next few years. Furthermore, the airborne platforms are changed with the addition of different types of payloads to carry out counter-IED operations by militaries of various countries of the globe.

End-users in the defense counter IED systems market are moved their focus from quantity to quality of the components, as well as highlighting on cost-efficiency in the military processes. Consequently, keeping a balance between cost and quality and at the same time providing an upgrade and retrofit solutions to encounter modern military needs is becoming a challenge for vendors in counter IED market.

The counter IED market is projected to witness a CAGR of more than 3% during the forecast period from 2018 to 2023

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The growth of the counter-IED market is driven by numerous factors, which increasing incidences of terrorist attacks across the globe, growing use of offensive weapons for tactical operations by militaries of different countries, and includes changing nature of modern warfare, rising instances of asymmetric warfare. Though, high costs involved in the R&D activities of technologies counter-IED equipment and the declining defense budgets of the developed countries are the issues that may confine the growth of the counter-IED market in the U.S., the U.K, Germany, and France.

China, Israel, and India, are anticipated to be the major counter-IED markets in the upcoming years. In 2016, India observed the major number of IED blasts in the world. This, in turn, led to the increased in purchase of counter-IED equipment for the military as well as homeland security operations in the country. Israel has the existence of several companies such as Elbit Systems Ltd., which will lead to grow advanced IED countermeasure and detection equipment.

Key Players

The key players in Counter IED market are Lockheed Martin Corporation (U.S.), General Dynamics Corporation (U.S.), Allen-Vanguard (Canada), Raytheon Company (U.S.), Northrop Grumman Corporation (U.S.), Chemring Group (U.K), Thales Group (France), Harris Corporation (U.S.), Sierra Nevada Corporation (U.S.), and L3 Technologies, Inc. (U.S.).

Scope of Report

The report for Global Counter IED Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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Last Updated November 19, 2018