Explosive Ordnance Disposal (EOD) Equipment Market

According to a new market report published by Transparency Market Research “Explosive Ordnance Disposal (EOD) Equipment Market by Equipment Type (portable X-ray systems, projected water disruptors, bomb containment chamber, EOD suits and blankets, EOD robots, explosive detectors, search mirrors and others), & by Application (Defense and Law Enforcement) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2023” was valued at US$ 5.74 bn in 2014 and is estimated to exhibit a CAGR of 4.6% and reach US$ 8.56 bn by 2023.

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The Explosive Ordnance Disposal (EOD) Equipment includes tools such as bomb containment chamber, portable X-ray systems, EOD suits and blankets, EOD robots, projected water disruptors, search mirrors and explosive detectors among others. Defense and law enforcement are the two areas where Explosive Ordnance Disposal (EOD) Equipment are extensively used. Recent trends have shown, major manufacturers of EOD equipment are constantly engaged in research and development activities in order to gain competitive advantage. The research and development activities are directed towards the development of new products and also modifications and advancements of existing products.

In terms of revenue, North America held the largest share in the regional market for EOD equipments accounting for more than 40% during the forecast period. U.S. is expected to be the most attractive regional market for EOD equipment throughout the forecast period and the country held the largest share in the North America. Increasing focus of the U.S. government to fight against terrorism is one of the major factors driving the market for EOD equipment in the region. The increasing demand for EOD robots is impacting the market for EOD equipment positively.

The EOD equipment market in Europe is expected to show a steady growth during the forecast period. Presence of large number of EOD equipment manufacturers in this region is one of the major factors supporting the growth in this region There has been an increasing focus on the part of the defense organizations in Europe to equip its military forces with the latest and most advanced EOD equipment. Increasing instances of bomb threats is also fuelling the demand for EOD equipment in Europe.

Increasing instances of terrorist attacks in the Asia-Pacific is one of the major factors contributing to the demand of the EOD equipment. Countries such as Pakistan and Afghanistan have witnessed terrorist attacks very frequently. However, due to economical restraints these countries are not investing heavily in defense but in future are expected to provide huge growth opportunities for EOD equipment manufacturers. China and India are major markets supporting the demand for EOD equipment in Asia Pacific. Internal and external security threat is another factor which impacts the demand for EOD equipments positively in Asia Pacific.

Middle East and Africa is expected to be one of the major markets for EOD equipment providing huge growth opportunities. These regions are home to some of the most violent terrorist organizations in the world such as ISIS, Al Qaeda and Boko Haram among others. The usage of EOD equipment at malls and airports is one of the major factors driving the growth of EOD equipment in Middle East and Africa.

Brazil is one of the major markets in the Latin America region. Various defense modernization programs and police modernization programs are boosting the growth of the EOD equipment market in the region. Moreover, Brazil being the host country for the 2016 Olympic Games is also expected to impact the EOD equipment market in the region positively.

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Some of the major players in the market are iRobot Corporation, Safariland, LLC, Northrop Grumman Corporation, Scanna Msc Ltd., NABCO, Inc., United Shield International Ltd, Reamda Ltd., API Technologies Corp., Du Pont (E.I.) De Nemours and Cobham plc among others.

This report provides a comprehensive highlight of the global Explosive Ordnance Disposal (EOD) Equipment market along with the market values, in terms of revenue for the forecast period from 2015-2023. Additionally, the market has also been segmented on the basis of equipment type and application. The cross sectional analysis of Explosive Ordnance Disposal (EOD) Equipment market across five geographical regions has also been covered under the purview of the report.

Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.