Counter-IED Market: Overview
- According to the latest research report on the global counter-IED market for the historical period 2022–2031 and the forecast period 2022-2031, rise in adoption of counter-IEDs in military and law enforcement applications for evaluating and adjusting measures to discover, prevent, mitigate, and recover from IED incidents and their consequences is anticipated to drive the growth of the global counter-IED market
- In terms of revenue, the global counter-IED market is estimated to reach value of US$ 2.9 Bn by 2030, expanding at a CAGR of ~3% during the forecast period
Increasing Focus on Counter-IED Developments: Key Drivers
- The importance of improving IED detection and prevention has been gaining importance for security forces, as terrorists prefer to plant IEDs, cause casualties, and escape
- Security forces across the globe are carrying out a large number of changes and modifications in order to contain such IED activities. These changes and modifications include bringing new counter-IED (Improvised Explosive Devices) equipment, improve field-test IED detection capabilities, and provide training to troops as well as conduct mock drills for bomb disposal squads, and provide training to dogs to detect IEDs.
- Thus, an increase in the demand for improved counter-IED systems in the military and homeland security field across the globe is projected to boost the global counter-IED market during the forecast period
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Demand from Emerging Countries: Latest Market Trends
- Rise in conflicts and territorial disputes between various nations in the Middle East and Asia Pacific has increased the demand for electronic warfare measures
- Modern land systems are increasingly depending on information systems comprising communications & information systems, and networks & sensors. These systems have the potential to produce significant changes in the behavior of warfare.
- The Asia Pacific C-IED Fusion Center (APCFC) provides training programs, intelligence products, and supports C-IED training to security forces in partner nations, such as Australia, Indonesia, South Korea, and Thailand
- Thus, a rise in the use of information-age systems has led to a significant change in the nature of battlefields. Consequently, the demand for technologically advanced counter-IED in emerging countries is expected to rise significantly during the forecast period.
Protectionist Policies Leading to Limited Access to Counter-IED Technologies: Major Challenges for Global Market
- Superpower countries that are developing counter-IEDs have imposed various restrictions on supply, sharing, selling, and proliferation of technologies
- Protectionist policies are employed to limit the access of advanced technology to other nations due to security concerns and geopolitical issues
- Imposition of these protectionist policies by the U.S. has led to limited access to counter-IED solutions, and it is considered a major restraint to the counter-IED market, as the U.S. shares its expertise, solutions, and technologies with only NATO countries
- Thus, imposition of protectionist policies for limited access to counter-IED technology by superpower countries is projected to have a moderately negative impact on the global counter-IED market during the forecast period
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Counter-IED Market: Competition Landscape
- Detailed profiles of providers of counter-IED have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global counter-IED market are
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Raytheon Company
- Sierra Nevada Corporation
- General Dynamics Corporation
- Harris Corporation
- L3 Technologies, Inc
- Thales Group
- Parnisari Arms
- Chemring Technology Solutions
- Elbit Systems Ltd
Counter-IED Market: Key Developments
- Key providers of counter-IED, such as Sierra Nevada Corporation and L3Harris Technologies, Inc., are focusing on the development of innovative and reliable counter-IED. Some key developments in the global counter-IED market are as follows:
- In June 2020, Sierra Nevada Corporation (SNC) was awarded a production contract with multiple delivery orders to procure, deliver, and support the Degraded Visual Environment Pilotage System (DVEPS) on the U.S. Special Operations Command (SOCOM) and select U.S. Army aircraft
- In August 2018, L3Harris Technologies, Inc. secured a US$ 400 Mn increase to the single-award IDIQ contract to supply electronic warfare (EW) systems for international F-16. These strategic developments are likely to help the company expand sales.
- In the report on the global counter-IED market, we have discussed individual strategies, followed by company profiles of providers of objective lenses. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global counter-IED market
Counter-IED Market – Scope of the Report
A new study on the global counter-IED market presents detailed information on key market dynamics, including drivers, trends, and challenges for the global counter-IED market as well as its structure. The study offers valuable information on the global counter-IED market in order to illustrate how the market is expected to expand during the forecast period i.e. 2020–2030.
Key indicators of market growth, which include value chain analysis and Compound Annual Growth Rate (CAGR) have been elucidated in the study in a comprehensive manner. This data can help readers interpret the quantitative growth aspects of the global counter-IED market.
An extensive analysis of business strategies adopted by leading market players has also been featured in the study on the global counter-IED market. This can help readers understand key factors responsible for growth of the global counter-IED market. In this study, readers can also find specific data on avenues for qualitative and quantitative growth of the global counter-IED market. This data would guide market players in making apt decisions in the near future.
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Key Questions Answered in the Study of Counter-IED Market
- What would be the Y-o-Y growth trend of the global counter-IED market between 2020 and 2030?
- What is the influence of the changing trends in solutions on the global counter-IED market?
- Would North America continue to be the most dominant regional market for providers of counter-IED over the next few years?
- Which factors would hinder the global counter-IED market during the forecast period?
- Which are the leading companies operating in the global counter-IED market
A unique research methodology has been utilized to conduct comprehensive research on the global counter-IED market and arrive at conclusions on future growth prospects for the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the conclusions drawn.
Secondary research sources referred to by analysts during production of the report on the global counter-IED market include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and market white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who have contributed to production the study on the global counter-IED market as a primary research source.
These primary and secondary sources provided exclusive information during interviews, which served as a validation from leading players operating in the global counter-IED market. Access to an extensive internal repository as well as external proprietary databases allowed this report to address specific details and questions about the global counter-IED market with accuracy. The study also uses a top-down approach to assess the numbers for each segment and a bottom-up approach to counter-validate them. This has helped in making estimates on future prospects for the global counter-IED market more reliable and accurate.