Counter-IED Market to Reach Valuation of US$ 2.9 Bn by 2030; Advantages to Minimize Damage Associated with IED Incidents to Drive Global Market, states TMR

Characteristic of an interdisciplinary approach for end-to-end assistance from IED incidents spurs demand

Availability of a range of solutions to be deployed in various vehicles used in the armed forces and other vulnerable areas stirs growth of the counter-IED market

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Transparency Market Research

Sep 16, 2021, 10:04 ET

ALBANY, N.Y., Sept. 16, 2021 /PRNewswire/ --

Counter-IED Market – Overview

The growing incidence of modern warfare that is related with massive destruction has necessitated law enforcement and military agencies to be equipped with effective counter acting capabilities, which is in the scope of the counter-IED market.

Large budgets of governments around the world to improve national security has led to equipping their respective defense sector with data-driven intelligence. The extensive processes deployed for automated data collection are combined with data integration methods for a single interface of intelligence that helps to reliably assess threat of improvised explosive device (IED) attacks. This magnitude of threat and its associated damage necessitates the deployment of counter-IED solutions as a preventive measure, particularly for the law enforcement and military sectors.

The characteristic of counter-IED solutions wherein several programs are bundled to suit various vulnerable areas is creating opportunities in the counter-IED market. At the back of these factors, the counter-IED market is estimated to cross US$ 2.9 Bn by 2030.

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Counter-IED Market: Key Findings of Report

Key Role Played by Governments to Equip Armed Forces Creates Demand; Changing Mode of IED Attacks to Drive Research for Innovative Solutions

The surge in the number terrorist activities in various parts of the world, particularly in conflicted zones is a concern for governments for national and civilian security. This has led to dedicated research and data collection to assess vulnerabilities and adopt solid measures to prevent damage and human loss as much as possible. Thus, law enforcement departments and military agencies collaborate with behavioral and computational scientists to gauge potential attacks and their severity, if possible.

The compelling need to mitigate IED threats for the armed forces is leading to the deployment of an array of preventive solutions that comprise detection, protection, and neutralization measures categorized as counter-IED solutions. This has led to the evolution of military vehicles for armored personnel carriers (APCs) and modified infantry fighting vehicles (IFVs) from the traditional ones. Counter-IED measures are adopted at various vulnerable areas such as anti-tanking, anti-personnel mining, and IED detection systems.

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The emergence of new types of IED attacks has necessitated innovative and effective counter-IED solutions. The deployment of new type of IED detection kit and ground-piercing radar systems in vehicles in Afghanistan to detect metallic buried objects is an example of this. This has accelerated the development of models that help assess nearly failsafe information for action against potential threats.

Massive Destruction Caused Due to Territorial, Economic Conflicts in Parts of Asia Pacific Drives Adoption

The incidence of terrorist activities and political and economic disputes in some parts of Asia Pacific over the past three decades have caused massive destruction leading to long-term impact experienced till date. Some countries in the region used modern warfare that depend on next-gen communication and information systems. The use of IEDs is an extension of information-age systems that are deployed based on accurate intelligence obtained from these systems. Moreover, IEDs can be placed anywhere on animals, planted on roads, or strapped on individuals. This has led to the increasing demand for counter-IED solutions in several parts of Asia Pacific.

The U.S. accounts for leading revenue contribution for North America to dominate the counter-IED market. Military vehicles in the country in large numbers are mounted with counter-IEDs to evaluate and adjust measures to discover, prevent, alleviate, and recover from IED attacks and their consequences.

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Counter-IED Market – Growth Drivers

Rising need to equip armed forces with advanced combat solutions to counter border threats and modern warfare fuels the counter-IED market
Risk of massive damage associated with IED that is characteristic of multiple technologies and new-age information systems propels demand for counter-IED systems

Counter-IED Market – Key Players

Some of the key players operating in the counter-IED market are Lockheed Martin Corporation, Raytheon Company, Allen-Vanguard, Harris Corporation, Thales Group, Chemring Technology Solutions, Northrop Grumman Corporation, Sierra Nevada Corporation, General Dynamics Corporation, L3 Technologies Inc., Parnisari Arms, and Elbit Systems Ltd.

Global Counter-IED Market: Segmentation

Counter-IED Market, by Solution

Detection

Ads-Above-Surface Detection System
Mids-Underground Mine and IED Detection System
Stand-Off IED Detector
Remote IED Detection Equipment

Countermeasure

Jammers
Neutralization

NIED
EOD

Counter-IED Market, by Deployment

Vehicle Mounted

Manned
Unmanned

Ship Mounted
Airborne Mounted

Aircraft
Aerostat
UAV

Handheld

Counter-IED Market, by End User

Military
Law Enforcement

Counter-IED Market, by Region

North America
South America
Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)

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