The Explosive Ordnance Disposal Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Explosive Ordnance Disposal Equipment Global Market Report 2024, The explosive ordnance disposal equipment market size has grown steadily in recent years. It will grow from $5.85 billion in 2023 to $6.13 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to global security concerns, increasing ied threats, homeland security initiatives, humanitarian mine clearance, military modernization programs, improvements in training programs.
The explosive ordnance disposal equipment market size is expected to see steady growth in the next few years. It will grow to $7.31 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to multi-functional eod systems, focus on lightweight materials, global demining and clearance efforts, public safety applications, modular and interoperable system. Major trends in the forecast period include technological advancements in robotics, integration of artificial intelligence (ai), portable and lightweight equipment, detection and imaging technologies, remote sensing and reconnaissance.
The increase in terrorist activity is expected to propel the growth of the explosive ordnance disposal equipment market going forward. Terrorism activity is the intentional use of violent means or threats to achieve political, religious, or ideological objectives by inducing fear or coercion among civilians. To counteract terrorist activity, specialists use explosive ordnance disposal (EOD) equipment for the safe detection, removal, and destruction of dangerous weapons like landmines and other explosive remnants. For instance, according to the Global Terrorism Index (GTI), which is published by the Institute for Economics and Peace (IEP), an Australia-based global think tank, terrorist attacks increased by 17% in 2021, with a total of 5,226 recorded attacks. Therefore, the increase in terrorist activity is driving the growth of the explosive ordnance disposal equipment market going forward.
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The explosive ordnance disposal equipment market covered in this report is segmented –
1) By Equipment Type: Portable X-Ray Systems, Projected Water Disrupters, Bomb Containment Chambers, EOD Suits And Blankets, EOD Robots, Explosive Detectors, Search Mirrors, Other Equipment Types
2) By Technology: Trace, Bulk
3) By Application: Defense, Law Enforcement
Major companies operating in the explosive ordnance disposal equipment market are concentrating their efforts into developing innovative solutions such as chemical agent identifier. A chemical agent identifier refers to a device or instrument designed to detect and identify chemical agents or hazardous substances. For instance, in March 2023, Smiths Detection, a UK-based global leader in screening technologies announced the launch of ‘Lightweight Chemical Detector (LCD) 4’. It is the latest body worn toxic chemical detector that allows to identify traces of super toxic chemical agents. It is designed to enables the mobile detection of explosives, narcotics, and highly toxic chemicals.
The explosive ordnance disposal equipment market report table of contents includes:
1. Executive Summary
2. Explosive Ordnance Disposal Equipment Market Characteristics
3. Explosive Ordnance Disposal Equipment Market Trends And Strategies
4. Explosive Ordnance Disposal Equipment Market – Macro Economic Scenario
5. Global Explosive Ordnance Disposal Equipment Market Size and Growth
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26. South America Explosive Ordnance Disposal Equipment Market
27. Brazil Explosive Ordnance Disposal Equipment Market
28. Middle East Explosive Ordnance Disposal Equipment Market
29. Africa Explosive Ordnance Disposal Equipment Market
30. Explosive Ordnance Disposal Equipment Market Competitive Landscape And Company Profiles
Top Major Players:
- Northrop Grumman Corporation
- Reamda Limited
- NABCO Incorporated
- Scanna MSC Limited
- iRobot Corporation
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