Counter IED Market Outlook

The counter-IED market, valued at USD 1.5 billion in 2022, is projected to grow from USD 1.53 billion in 2023 to USD 1.79 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 2.63% during this forecast period. Counter improvised explosive devices (IEDs) are specialized systems crucial for military forces and law enforcement in detecting and defusing explosives, particularly during counterinsurgency operations and emergency response scenarios involving simulated IEDs.

The global counter-IED market has experienced consistent revenue growth, primarily driven by the increasing need to mitigate the rising threat of IEDs against security forces and the public, leading to their greater adoption in military and counter-terrorism operations. Market Research Future (MRFR) noted the impact of COVID-19 on the market, estimating a 2.92% CAGR during the 2018-2023 forecast period, with technological advancements identified as a key driver. The increasing prevalence of cross-border conflicts, such as those along the India-Pakistan-China border and in the Middle East, is also contributing to the rise in military budgets and the deployment of counter-IED systems.

The frequent use of IEDs by insurgent groups in conflict zones like Pakistan, Afghanistan, and Syria further fuels market growth. Technological advancements have led to significant evolution in counter-IED systems, with newer generations capable of covering broader frequency ranges and performing specific operations, exemplified by the Indian Army's initiative in November 2019 to develop an artificial intelligence-based e-tool, the IED Database Management and Analytical Platform (IDMAP), to enhance counter-IED capabilities. The global counter-IED market is segmented by capability (detection and countermeasure), deployment (vehicle-mounted, ship-mounted, airborne, handheld, and others), end user (military and homeland security), and region (Americas, Europe, Asia Pacific, and Rest-of-the-World). North America currently dominates the market, holding the largest share due to high military expenditure and technological advancements, with the US being a key driver due to its focus on developing new systems and ongoing military operations. The Asia Pacific region holds the second-largest market share, driven by increasing military investments to counter terrorist activities and cross-border issues, particularly in regions with border conflicts.

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The counter-IED market is competitive, with key players focusing on innovation, mergers and acquisitions, and product launches to strengthen their market positions. Major companies in the market include Chemring Group PLC, BAE Systems, Elbit Systems Ltd, Harris Corporation, General Dynamics Corporation, L3 Technologies, Northrop Grumman Corporation, Lockheed Martin Corporation, Thales Group, and Raytheon Company. Recent industry news, such as Northrop Grumman Corporation's USD 29.9 MN foreign military sale to Australia for counter-IED equipment in June 2020, highlights ongoing developments and contracts within the market.