Counter-IED Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

The Business Research Company’s Counter-IED Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 2, 2024 /EINPresswire.com/ -- The global counter-IED market is projected to grow from $1.42 billion in 2023 to $1.45 billion in 2024 at a CAGR of 1.7%. The market is expected to reach $1.57 billion by 2028, driven by factors such as military modernization programs, urban warfare challenges, critical infrastructure protection, and the adoption of unmanned systems.

Increase in Military Spending Propels Market Growth
The increase in military spending is a significant factor contributing to the growth of the counter-IED market. Military spending includes investments in armed forces, including peacekeeping troops, and covers both current and capital spending. For instance, according to the Stockholm International Peace Research Institute, global military expenditure increased by 0.7% in real terms in 2021, reaching $2,113 billion. This investment is driving the demand for counter-IED equipment, which is crucial for identifying and destroying IEDs from a distance.

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Key Players and Market Trends
Major companies operating in the counter-IED market include Raytheon Company, Lockheed Martin Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Thales Group, L3Harris Technologies Inc., Leonardo SpA, BAE Systems Land & Armaments Inc., Oshkosh Defense LLC, and Rheinmetall AG. These companies focus on developing innovative solutions to enhance their market position.
For example, in November 2023, Netline Communications Technologies Ltd. launched the ‘C-Guard Modular Manpack,’ an electronic warfare system designed to address challenges posed by both IEDs and adversarial drones. This compact and portable electronic countermeasure unit offers comprehensive jamming capabilities for military and law enforcement applications.

Segments:
• By Capability: Detection, Counter Measures
• By Deployment Type: Vehicle Mounted IED Detection System, Ship Mounted IED Detection System, Aircraft Mounted IED Detection System, Handheld IED Detection System, Other Deployment Types
• By Application: Military, Homeland Security

Geographical Insights: North America Leading the Market
North America was the largest region in the counter-IED market in 2023, with Asia-Pacific expected to be the fastest-growing region in the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Counter-IED Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Counter-IED Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on counter-IED market size, counter-IED market drivers and trends, counter-IED market major players, competitors' revenues, market positioning, and market growth across geographies. The counter-IED market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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