Counter Improvised Explosive Devices (IED) systems are utilized by law enforcement and military to detect and counter explosive components and explosives comprise IEDs. The IEDs can be triggered remotely with the help of mobile phones and wristwatches which creates a challenge for the defense agencies. Mine-resistant, lightweight vehicles and battle tanks are key systems employed in IED detection systems. Mainly, counter IEDs is used to overcome the IED threats network for law enforcement, counter-insurgency and counter-terrorism. Besides, counter IEDs provide advanced countermeasure and reduce damage to private properties, public properties and casualties.
COVID-19 scenario analysis:
Adverse effects were caused by COVID-19 on the manufacturing and supply chain of the counter-IED market.
Rapid spread of COVID-19 created unusual challenges for the defense sector and adversely impacted the counter-IED market.
Obstacles such as reduction of defense expenditure gave rise to downfall in the revenue of counter-IED market
Adoption of new strategies such as improvisation of business models helps counter-IED market in reduction of loss owing to the pandemic.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Surge in incidences of terror attacks globally, increase in use of airborne platforms for improvised detection of IEDs by militaries worldwide, and rise in focus toward development of counter-IED are the factors that drive the counter-IED systems market. However, limited access of counter-IED and regulated use policies related to counter-IED are hurdles in the market growth. Contrarily, rise in defense budgets globally, increasing demand of homeland security agencies for counter-IEDs and geo-political instability offers new opportunities for the industry.
The counter-IED systems market trends are as follows:
Surge in incidences of terror attacks globally
Use of IEDS by terrorists to target public and civilian assets and confinement of these attacks turn outs pose a major challenge for defense agencies and homeland security forces. Procurement of counter-IED technologies by the security agencies of various countries namely Iran, India, Turkey, France and the UK is rising. For instance, in October 2018, Indra Sistemas S.A. was selected for a deal worth $36 million to design and manufacture a system with advanced capability including Counter Improvised Explosive Devices (CIED) a level 2 deployable forensic lab. Surge in terror incidences globally have provoked governments around the world to procure counter-IED systems, which increased the demand for the industry.
Rise in focus towards development of counter-IED
Governments have prioritized on enhancement of counter-IED capabilities for development of new solutions in Explosive Ordnance Disposal (EOD) operations, training of homeland security personnel and others. Governments have focused on acquisition, development and standardization of advanced technologies such as IED and EOD technologies, for peacekeeping and assurance of public safety. For instance, in 2017, Consolidated Analysis Center, Incorporated (CACI) was awarded a contract of $1.7 billion by the U.S. to provide training & intelligence services and deployable analytical operations to Joint Improvised-Threat Defeat Organization (JIDO). Rise in focus toward development of counter-IED to combat terrorist activities escalates market demand of counter-IED systems.
Key benefits of the report:
- This study presents the analytical depiction of the counter-IED systems industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the counter-IED systems market share.
- The current market is quantitatively analyzed to highlight the counter-IED systems market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed counter-IED systems market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the counter-IED systems market research report:
- Which are the leading market players active in the counter-IED systems market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Defense Counter-IED Systems Market Report Highlights
By Deployment Type
By End Users
Key Market Players
Rheinmetall Aktiengesellschaft, Allen-Vanguard Corporation, Thales Group, Lockheed Martin Corporation, Chemring Group Plc, Elbit Systems Ltd., Northrop Grumman Corporation, BAE Systems Land & Armaments Inc., L3 Technologies Inc., Sierra Nevada Corporation