12-21-2016 10:50 AM CET - IT, New Media & Software

Chemical, Biological, Radiological, and Nuclear (CBRN) Security Market - High Cost of CBRN Systems Limits their Deployment across Under-developed Nations

Press release from: TMR

Both investments and the prevailing competition in the global chemical, biological, radiological, and nuclear (CBRN) security market are rapidly increasing. According to a new report by Transparency Market Research (TMR), the increasing budget allocation for defense and rising investments by security contractors will make the CBRN security market progressively more attractive in the long-term. This will in turn attract new players with innovative CBRN devices into the market.

Some of the established players such as Argon Electronics (U.K.) Ltd., Blücher GmbH, Bruker Corporation, and FLIR Systems, Inc., have collaborated with armed forces and government organizations to design and develop advanced CBRN devices. The companies boasting strategic collaboration with government bodies currently enjoy a stronger presence in the global CBRN market. TMR forecasts that investments by companies operating in emerging economies such as India, Japan, China, Brazil, and Israel in novel technologies will intensify the existing competition.

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Rising Threat of Terror Attacks Makes Investments in CBRN Security Imperative

The growing frequency of terrorist strikes worldwide has compelled governments and armed forces to invest in advanced military devices that will allow them to prevent potential CBRN attacks. Such increasing threats of terror attacks have obliged military organizations around the world to train themselves for CBRN attack response operations.

“The existing geopolitical issues between neighboring countries has increased the possibility of CBRN attacks. This is a primary factor fuelling demand for adequate CBRN security,” observed the TMR report’s author. Besides this, various countries are taking initiatives to reduce their weaponry and military strengths in line with international disarmament treaties.

Consequently, demilitarization requires the deployment of advanced systems capable of performing the designated tasks accurately and offer protection to army personnel as well as civilians. This is expected to emerge as a key driver of the global CBRN security market. “The market is also expected to gain impetus from the rising demand for radiopharmaceuticals from around the world,” said a TMR analyst.

High Cost of CBRN Systems Limits their Deployment across Under-developed Nations

The cost of installation and maintenance of CBRN security systems is quite high. A CBRN security system includes devices with varied structure and functionalities. A huge investment is required for procuring and maintaining these devices. Furthermore, robust technological advancements are rendering many of these devices obsolete at a faster rate.

This creates a major bottleneck for CBRN security system manufacturers. Due to their high cost, several under-developed nations across the Middle East, Asia Pacific, South America, and Africa lack the ability of affording them despite facing repeated security threats. Factors such as these are limiting the sales of CBRN security systems.

However, this drawback is mitigated to some degree by the investments made by emerging nations in improving their readiness against terror attacks. This will attract higher investments in the CBRN security systems market.

The global CBRN market is expected to report a positive CAGR of 3.8% between 2015 and 2021. It was valued at US$9.13 bn in 2014 and is expected to reach US$11.92 bn by the end of 2021. According to TMR, the arms race witnessed in key economies in Asia Pacific such as India, China, and Pakistan has been indirectly fuelling demand for CBRN security in the region. Hence, Asia Pacific is expected report the fastest growth in the CBRN security market, based on geography. It is likely to exhibit 4.6% CAGR between 2015 and 2021. By type, the nuclear security segment accounted for over 36.09% of the overall revenue generated by the global CBRN market in 2014.

This review is based on findings published by Transparency Market Research in a report, titled “Chemical, Biological, Radiological, and Nuclear (CBRN) Security Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021”

About Us

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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