Explosive Ordnance Disposal Equipment Market Size, Share, Revenue, Trends And Drivers For 2024-2033

Explosive Ordnance Disposal Equipment Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 23, 2024 /EINPresswire.com/ -- The explosive ordnance disposal equipment market has experienced robust growth in recent years, expanding 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, and improvements in training programs.

Strong Future Growth Anticipated
The explosive ordnance disposal equipment market is projected to continue its strong growth, reaching $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, and modular and interoperable systems.

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Growth Driver Of The Explosive Ordnance Disposal Equipment Market
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.

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Major Players And Market Trends
Key players in the explosive ordnance disposal equipment market include Northrop Grumman Corporation, Reamda Limited, NABCO Incorporated, Scanna MSC Limited, iRobot Corporation, API Technologies Corp.
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.

Segments:
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

Geographical Insights: North America Leading The Market
North America was the largest region in the explosive ordnance disposal equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global explosive ordnance disposal equipment market during 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, Africa

Explosive Ordnance Disposal Equipment Market Definition
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.

Explosive Ordnance Disposal Equipment Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Explosive Ordnance Disposal Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on explosive ordnance disposal equipment market size, explosive ordnance disposal equipment market drivers and trends, explosive ordnance disposal equipment market major players, explosive ordnance disposal equipment competitors' revenues, explosive ordnance disposal equipment market positioning, and explosive ordnance disposal equipment market growth across geographies. The explosive ordnance disposal equipment market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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