Technavio Releases New Report on the Global Defense Counter IED Systems Market

LONDON--()--Technavio’s latest aerospace and defense report covers the present scenario and growth prospects for the global defense counter IED systems market 2016-2020.

In this report, Technavio’s aerospace and defense research experts announce their key market highlights for the global defense counter improvised explosive device (IED) systems market. Their findings include:

By 2020, unmanned systems will observe rapid growth with a market share of close to 20%

One of Technavio’s lead analysts Abhay Singh, who specializes in defense research said, “The market is expected to grow rapidly compared to other IED systems. Such systems help military troops counter IED threats easily in the battlefield. As these devices are portable and easy to operate, it also helps access IEDs in dense and inaccessible areas, while it collects insightful information required in the battlefields. Also, as these devices are capable of doing long-distance surveillance activities and capture high-definition images, it has attracted substantial investments in the market.”

“For example, in August 2015, RE2 Inc. of Pennsylvania announced the development of underwater dexterous manipulation systems for the US Navy. This contract is worth USD 2.7 million. These systems are capable of remotely and effectively addressing waterborne IEDs, which include ports and on bridge pilings,” states Abhay.

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The market is expected to witness an increase in the number of investments from the Middle East and APAC over the next 10 years

Rising tensions in the Middle East and African countries (i.e., Saudi Arabia, Iraq, Syria, Lebanon, Nigeria, Cameroon, Ethiopia, and Eritrea) have driven up defense budgets substantially. It is estimated that the growth in their defense will continue to drive the market over the forecast period. In 2013, Saudi Arabia was ranked fourth with USD 67 billion, Turkey 14th with USD 19.1 billion, and UAE 15th with USD 19 billion in defense spending. Middle East defense spending is expected to grow at an estimated 3.48% contributing to revenues worth USD 920 billion by 2020. Ballistic anti-missile systems, new generation warplanes, military electronics, cyber systems, helicopters, and light tactical armored vehicles with weapons systems are some of the popular items countries in the Middle East region are expected to procure during the forecast period.

It is also anticipated that APAC will overtake the US in terms of defense spending by 2021. China and other countries in the region are also expected to increase the spending on weapons by 35% by 2021. India, one of the biggest arms importers in the world, has also increased its spending to USD 5.3 billion in 2013, and this trend is expected to attract new investments in the APAC market over the next four years.

Introduction of unmanned systems will emerge as a key driver for this market until 2020

Unmanned systems are gaining immense popularity in the global military market. These systems have provided army troops with the means to locate the enemy, build new strategies, and collect insights. Hence, such systems are likely to be implemented for autonomous convoy and counter-IED efforts in the modern war field scenarios.

Robotic and unmanned systems are expected to aid various field operations which include neutralizing roadside bombs and IED, screening vehicles, and searching buildings, bunkers, caves and tunnels. It is playing a key role in enhancing safety of military troops by consenting army personnel to inspect perilous objects from a safe distance.

The Army Tank Automotive Research Development and Engineering (TARDEC) is pursuing autonomous mobility applique systems (AMAS) in tactical vehicles developed by Lockheed Martin. These vehicles are capable of driving by themselves, using radar and lidar to access road surface, lanes, curves, and moving obstacles. Also, in a key development, the Robotic Systems Joint Program Office of the US Army made a USD 30-million worth indefinite delivery/indefinite quantity (IDIQ) contract with iRobot in 2013 to supply PackBot FasTac robotic systems. There are many similar contracts in the pipeline that due to materialize over the course of the forecast period, and it is a significant emerging trend expected to positively impact the global defense counter IED systems market until 2020.

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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com

Release Summary

Technavio’s latest aerospace and defense report covers the present scenario and growth prospects for the global defense counter IED systems market 2016-2020.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com