Global Handheld Counter IED Market Research Report—Forecast till 2025
Global Handheld Counter IED Market is anticipated to exhibit 2.74% CAGR during the forecast period 2025. The Handheld counter improvised explosive devices (IEDs) are mainly used for detection and countermeasures of military and law enforcement agencies. The increasing prevalence of counter IED is expected to grow the global market during the study period.
The global market of handheld counter IED is expected to grow at a rapid pace due to the utilization of advanced technologies in it such as ground-penetrating radar. Moreover, the global market growth is propelled by the growing military expenditure and increasing terrorist attacks and focus on counter operations. However, the increase in the use of countermeasure systems may restrain the global market in the upcoming years. However, the increasing prevalence of counter IED blast has been rising for the past few years is expected to increase the demand for Handheld Counter IEDs during the review period. Additionally, military organizations are concentrating on counter operations are expected to boost the global market.
The Global Handheld Counter IED Market has been classified by end-use and region. Based on the end-user segment, the global market has been classified into military and homeland security. The homeland security sector is expected to witness a tremendous market hike and is projected to register a CAGR of 2.29% during the study period.
Depending on the region, the market has been spread across North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
Region-specific analysis of Global Handheld Counter IED Market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
North America is expected to drive the global handheld counter IED market with a 31.35% share in 2019, followed by Europe. Asia-Pacific is expected to be the fastest-growing market for handheld counter IED during the review period owing to third-largest market in 2019. The regional market growth is propelled by the growing demand for handheld counter IEDs by the military forces and homeland security agencies due to rising territorial disputes. Additionally, the increasing number of conflicts around the India-Pakistan border, the India-China border, the Himalayas, the Indian Ocean, and the South China Sea are fuelling the market growth during the study period. There is a high requirement for IED systems in these countries to resist and counteract the rise in cross-border attacks.
The companies covered in the global handheld counter IED market are Chemring Group PLC (UK), Rapiscan Systems (US), PKI Electronic Intelligence GmbH (Germany), and Guartel Technologies Ltd (UK).
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