Counter IED Market, Projected To Achieve A Robust Compound Annual Growth Rate (CAGR) Of Approximately 2.63% From 2023 To 2030.

Market Research Future Insights

According to MRFR analysis, the Global Counter IED Market is expected to register a CAGR of~2.63% from 2023 to 2030 and hold a value of over USD 1.79 billion by 2030.

The Global Counter IED (Improvised Explosive Device) Market refers to the market for products and services aimed at countering the use of improvised explosive devices by terrorists, insurgents, or other non-state actors. Counter-IED solutions include technologies and equipment such as explosive detection and disposal systems, mine-resistant vehicles, jammers, electronic warfare systems, and counter-IED training programs for military and law enforcement personnel. The market is driven by the increasing threat of terrorism, insurgency, and organized crime, which has led to a growing demand for counter-IED solutions worldwide.

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The COVID-19 pandemic had a mixed impact on the Global Counter IED Market. The pandemic has led to a surge in demand for counter-IED solutions as countries around the world face an increased threat of terrorism and insurgency. The pandemic has created conditions that are conducive to the growth of these threats, such as economic hardship, social unrest, and political instability. As a result, many governments and security agencies have increased their spending on counter-IED solutions to protect their citizens and infrastructure.

Key Players

Some of the key market players are Chemring Group PLC (UK), BAE Systems (UK), Raytheon Company (US), General Dynamics Corporation (US), Elbit Systems Ltd (Israel), Northrop Grumman Corporation (US), L3 Technologies (US), Thales Group (France), Harris Corporation (US), Lockheed Martin Corporation (US)

Market Segmentation

The Global Counter IED Market has been segmented into deployment and end user.

Based on the deployment, the market has been segmented into airborne, vehicle-mounted, handheld and ship-mounted.

Based on the end user, the market has been segmented into homeland and security military.

Regional Analysis

The largest region of the Global Counter IED Market is currently North America, which includes the United States and Canada. The region is home to some of the world’s leading defense contractors, such as Lockheed Martin, Raytheon, and General Dynamics, who have a significant presence in the counter-IED market.

The North American market is driven by the high level of spending on defense and security by the U.S. government, which has a substantial budget for counter-IED initiatives.

Other regions that are expected to experience significant growth in the counter-IED market include Europe, Asia-Pacific, and the Middle East and Africa. These regions are also facing increasing threats from terrorism and insurgency, and governments are ramping up their spending on counter-IED solutions to address these challenges.

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