Improvised Explosive Device (IED) Countermeasures are devices used in battle operations, primarily formed by homeland security and military forces, the devices are used to detect explosives components. It includes countering the threat networks that employ IEDs, and it is a part of broader counter-terrorism and law enforcement effort. The development of the IED countermeasures market is due to the growing incidences of terror attacks, which involve improvised explosive device blasts across the globe.
MARKET SCOPE
The "Global IED Countermeasures Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an type, mounting type, end-users type, material, and geography. The report provides key statistics on the market status of the leading IED countermeasures market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of type, the market is segmented as jamming and neutralization.
- Based on mounting type, the market is segmented vehicle mounted and man-portable.
- On the basis of end-users, the market is segmented as military and homeland security.
MARKET DYNAMICS
Drivers:
- Factors such as external and internal security threats, territorial disputes, technological innovations, and modernization initiatives are driving the growth of the global IED countermeasures market.
- Furthermore, the growing investments for producing technologically advanced counter IED equipment is expected to create business opportunities.
Restraints:
- However, the high cost of R&D for making the final product might hinder the growth of the global IED countermeasures market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The IED countermeasures market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 17 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive porter's five forces analysis affecting the IED countermeasures market.
IMPACT OF COVID-19 ON IED COUNTERMEASURES MARKET
The COVID-19 Pandemic has presented the military sector with various unique obstacles, including higher COVID-19-related costs, supply chain disruptions, travel restrictions, production halts, labour shortages, and the effects of remote and altered work schedules. Since April, about 279 defence contracting facilities in the United States have been forced to close for an average of 20 days due to the pandemic. The pandemic has had an impact on several countries' budget allocation and funding, which could have a trickle-down effect on the C-IED industry.
However, defense companies' preemptive strategy development is assisting them in mitigating the loss of margins and sales caused by the Pandemic. Furthermore, under these extraordinary market conditions, the surge in important economies' military spending, combined with advantageous contract timing, proves to be game-changing for defense industries.
MARKET PLAYERS
The report covers key developments in the IED countermeasures market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from IED countermeasures market are anticipated to lucrative growth opportunities in the future with the rising demand for IED countermeasures in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the IED countermeasures market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Enterprise Control Systems
- L3Harris Technologies, Inc.
- Kirintec Ltd.
- Lockheed Martin Corporation
- Netline Communications Technologies
- Northrop Grumman
- Raytheon Technologies Corporation
- Roshel Inc.
- SRC, Inc.
- Thales Group