According to a new market research report published by Acute Market Reports “Countermine and Counter-IED Equipment Market (Equipment Type – Countermine and Counter-IED Vehicles, Body Worn Protection, Electronic Countermeasures, Detection Systems and Unmanned Systems; End-users – Military and Law Enforcement)– Growth, Future Prospects and Competitive Analysis, 2021 – 2029”, the global countermine and counter-IED equipment market is estimated to hit US$ 3.45 Bn by 2029.
Browse the Countermine And Counter-IED Equipment Market full report at https://www.acutemarketreports.com/report/countermine-and-counter-ied-equipment-market
Market Insights
Landmines and Improvised Explosive Devices (IED) are among the most preferred arsenals of terrorist groups. They have become a bigger threat in unconventional warfare considering the paramount damage they can cause. As the name suggests, countermine and counter-IED equipment helps in countering landmines and IED by detecting, mitigating and disposing them. IEDs are manufactured in large scale by non-state armed groups such as the Islamic State in Iraq and Syria (ISIS), causing enormous civilian harm. According to a research conducted by Policy Institute at King’s College London and Chatham House, IEDs were responsible for a total of 105,071 civilian casualties between 2011 and 2015. This was a staggering 59% of all casualties caused from explosive violence worldwide. Considering the magnitude of landmine and IED casualties, the detection and destruction/removal of these explosives becomes immensely important. However, these operations are time consuming with high risk of casualty. Subsequently, countermine and counter-IED equipment have been gaining significant adoption over the period of time.
The countermine and counter-IED equipment market is majorly governed by the increasing instances of terror attacks involving IEDs. According to a report published by the Landmine Monitor 2016, deaths and injuries caused by landmines and IEDs recorded a 10-year high in 2015. The report claims, 6,461 people fell victim to landmines and IEDs in 2015, which was an increase of 75% as compared to that in 2014. Terrorist groups such as ISIS in Iraq and Boko Haram in Nigeria have a history of constantly using landmines and IEDs. Therefore, in order to counter these attacks, countermine and counter-IED equipment are continuously being procured by defense organizations of various countries. In addition, defense modernization programs across various countries such as India and China have created an environment favorable for countermine and counter-IED equipment market growth over the forecast period.
The countermine and counter-IED equipment market is expected to witness rapid research & development activities on part of various defense agencies and manufacturers. These activities are directed towards developing more efficient, reliable and faster technologies and equipment. For example, the European Defense Agency (EDA) started various IED projects in 2015 that are expected to run through 2020. The project will be responsible for developing one UGV-based (unmanned ground vehicle) stand-off detection system, one UGV-based early warning project and one UAV-based early warning project among others.
The overall countermine and counter-IED equipment market is categorized on the basis of equipment type and end-users. Based on equipment type, the market is classified into countermine and counter-IED vehicles, body worn protection, electronic countermeasures, detection systems and unmanned systems. In terms of end-users, the market has been categorized into military and law enforcement. In 2016, the market was led by military segment, accounting for more than 75% of the total market value generated worldwide.
Key Trends
