New York, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Explosive Ordnance Disposal Equipment Global Market Report 2023" - https://www.reportlinker.com/p06479831/?utm_source=GNW
I. du Pont de Nemours and Company (DuPont), Cobham Plc., Chemring Group Plc., United Shield International Limited, Armtrac Limited, Med-Eng. Holdings ULC, Westminster International Limited, ALCOR System Inc., and API Microelectronics Limited.
The global explosive ordnance disposal equipment market is expected to grow from $5.58 billion in 2022 to $5.85 billion in 2023 at a compound annual growth rate (CAGR) of 4.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The explosive ordnance disposal equipment market is expected to reach $6.95 billion in 2027 at a CAGR of 4.4%.
The explosive ordnance disposal equipment market consists of sales of equipment used to neutralize explosive threats including blast containers, and hook and line kits.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Explosive ordnance disposal equipment refers to equipment of military ammunition used by all three services by armies, navies and air forces. It allows operations to be conducted successfully and for real threats to be eliminated.
North America was the largest region in the explosive ordnance disposal equipment market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the explosive ordnance disposal equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main equipment types of explosive ordnance disposal equipment are portable X-ray systems, projected water disrupters, bomb containment chambers, EOD suits and blankets, EOD robots, explosive detectors, search mirrors, and others.A portable X-ray machine refers to a type of X-ray equipment that is designed to be smaller and more lightweight than a fixed unit and is capable of being easily transported and relocated as needed.
An entirely dependable X-ray system can enable bomb squads, military forces, and special forces to rapidly determine the potential level of threat posed by suspicious objects, allowing them to make quick and informed decisions. The various technologies include trace and bulk that are applied in defense, and law enforcement.
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.
Technological advancements are a key trend gaining popularity in the explosive ordnance disposal equipment market.EOD equipment manufacturers are introducing next-generation bomb disposal suits to maintain their position in the market.
For instance, in December 2020, NP Aerospace, a UK-based company specializing in the design, development, and manufacture of advanced protective equipment and materials, launched the 4030 ELITE Bomb Disposal Suit and Helmet System.This next-generation EOD protection system offers superior survivability, advanced ergonomics, and reduced weight.
The suit is designed to be scalable, allowing for the integration of communication and cooling systems into the base suit without requiring full-scale upgrades. This provides a cost-effective benefit for defense and security organizations.
In May 2022, Cadre Holdings Inc., a US-based provider of safety and survivability equipment for first responders, acquired Cyalume Technologies for $35.0 million. The acquisition enables expand its product portfolio and further enhance its business. Cyalume Technologies is a US-based manufacturer of chemical light products for military and other industries.
The countries covered in the explosive ordnance disposal equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.
The explosive ordnance disposal equipment market research report is one of a series of new reports that provides explosive ordnance disposal equipment market statistics, including explosive ordnance disposal equipment industry global market size, regional shares, competitors with an explosive ordnance disposal equipment market share, detailed explosive ordnance disposal equipment market segments, market trends and opportunities, and any further data you may need to thrive in the explosive ordnance disposal equipment industry. This explosive ordnance disposal equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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