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Global Defense Spending Patterns: Counter IED Market to Shrink to $3.6 billion by 2022
By: PR Newswire
Feb. 20, 2013 11:34 PM
FARMINGTON, Conn., Feb. 20, 2013 /PRNewswire-iReach/ -- Global Information (GII) has partnered with premium defense research publisher Strategic Defence Intelligence to provide an unrivalled source of information on the latest developments in the defense industry.
The global counter improvised explosive device (IED) market, estimated at a value of $6.4 billion in 2012, will decrease at a CAGR of 5.59% during the forecast period to reach $3.6 billion by 2022. The market consists of five categories: counter IED vehicles, electronic countermeasures, detection systems, unmanned systems, and counter IED training.
The demand for counter IED equipment is anticipated to be driven by internal and external security threats, territorial disputes, modernization initiatives, technological innovations and a substantial demand for counter IED systems for coalition forces in Afghanistan. Cumulatively, the global market is expected to value US$46.7 billion during the forecast period. The market is expected to be dominated by North America, followed by Europe and Asia-Pacific.
Leading companies participating in the global counter IED market include: Lockheed Martin, Chemring Group, NIITEK, Iveco, Allen Vanguard, General Dynamics Land Systems, Navistar Defense, Force Protection, BAE Systems, L3 CyTerra, Northrop Grumman, iRobot Corporation, Thales, and Qinetiq.
A full table of contents for "The Global Counter IED Market 2012-2022 – Market Size and Drivers: Market Profile" report can be found here. Two additional reports highlighted below will help executives and defense industry participants gain insight into various defense modernization initiatives around the world , gain insight into sub-sector markets, and obtain detailed information on leading counter IED programs of major defense spenders.
A shrinking counter IED market means that its associated programs will also come under budget cuts. "The Global Counter IED Market 2012-2022 - Major Programs: Market Profile" report discusses the various programmes conducted by key players in the market, by dividing them into the main types of Counter IED. The report offers detailed information regarding quantity procured, country supplying the equipment, delivery period and total contract value.
For details of the key markets in each region, "The Global Counter IED Market 2012-2022 - Country Analysis: Market Profile" is a strategic choice. The report offers an analysis of the top segments of Counter IED, expected to be in-demand. It also investigates the top three expected Counter IED programs, in terms of demand in the key markets in each region.
For more market research highlights, technical research news and industry updates, please visit http://www.giiresearch.com/press/
About Global Information Inc. Global Information (GII) (http://www.giiresearch.com) is an information service company partnering with over 300 research companies around the world. Global Information has been in the business of distributing technical and market research for more than 25 years. Expanded from its original headquarters in Japan, Global Information now has offices in Korea, Taiwan, Singapore, Europe and the United States.
SOURCE Global Information, Inc.
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