The CBRN defense market is projected to grow from USD 14.68 Billion in 2016 to USD 19.15 Billion by 2022, at a CAGR of 4.65% during the forecast period. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.
TheCBRN defense market is projected to grow from an estimated USD 15.26 billion in 2017 to USD 19.15 billion by 2022, at a CAGR of 4.65% from 2017 to 2022. Key drivers for the growth of the CBRN defense equipment market include threats from terrorist groups, hostile neighboring countries, and increasing transnational disputes among nations.
The CBRN defense industry is driven by the development of new and improved technologies. Some of the technological trends include developments in gamma ray spectroscopy and electrochemical luminescense biological detection technology.
Various upcoming technologies include gas chromatography/mass spectrometry and ion-mobile spectrometry. These technologies are used for new portable and laboratory based detection systems.
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The CBRN defense market is segmented on the basis of equipment, type, end user, and region. On the basis of type, the CBRN defense market has been segmented into chemical, biological, radiological, and nuclear.
Among type, the chemical segment is expected to lead the market during the forecast period due to the rising threats from various Chemical Warfare Agents (CWA) and stringent industrial safety norms. Among equipment, the protective wearables segment is expected to be the fastest-growing market during the forecast period due to an increase in the acquisition of this equipment from various countries during the forecast period.
The second-largest market is for respiratory systems. Among end users, the defense segment is projected to be the fastest-growing market during the forecast period.
Defense users include various armed forces, police, and firefighters. The rise in demand from various nations for defense against CBRN attacks has led to increase in investments in defense systems.
North America is projected to be the fastest-growing market during the forecast period. Countries in this region include the US and Canada.
The threat from nuclear or radiological, chemical and biological agents from weapons possessed by other countries have led to an increase in research and development of various CBRN defense equipment. These countries have invested in the procurement of various CBRN systems and detection systems to respond to threats.
Key players in the CBRN defense market include FLIR Systems, Inc. (US), Chemring Group PLC (UK), Bruker Corporation (US), Smiths Group plc.
(UK), and Argon Electronics (UK) Ltd., among others.
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