The Explosive Ordnance Disposal (EOD) Equipment Market is expected to grow at CAGR of 4.1% during 2020-2025, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Explosive Ordnance Disposal (EOD) Equipment Market
Explosive ordnance disposal equipment market is likely to witness a steady CAGR of 4.1% during the forecast period. The growth is attributed to increasing demand for military ground robots which are programmed to diffuse bombs and other explosives as it is safer to diffuse bombs through robots than manually. Increasing number of militancy groups across the globe is further resulting into increase in demand for the explosive ordnance disposal equipment market.
In terms of regions, North America is estimated to be the largest market for explosive ordnance disposal equipment during the forecast period due to huge investment in soldier modernization through warfare training and advanced defense equipment.
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Market Scope & Segmentation
Explosive Ordnance Disposal Equipment Market Share: By Equipment Type
Based on the equipment type, the explosive ordnance disposal equipment market is segmented as portable X-ray systems, projected water disrupters, bomb containment chambers, EOD suits and blankets, EOD robots, Explosive Detectors, search mirrors, and others. The explosive detector segment is estimated to grow with the highest CAGR during the forecast period. Growing use of explosive detectors in public places such as malls and airports due to safety concerns with increasing threats from terrorists and militants across the globe is resulting into high growth in demand for EOD explosive detectors during the forecast period.
Explosive Ordnance Disposal Equipment Market Share: By Application Type
Based on the application type, the explosive ordnance disposal equipment market is segmented as defense and law enforcement. The defense industry segment is expected to remain the largest segment by application over the forecast period, owing to increasing deployment of soldier modernization programs that employ EOD robots as well as the use of other counter-terrorism equipment and strategies.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
- What is the impact of COVID-19 on the market forecast?
- What are the trends, drivers, and challenges?
- How competitive is the market? Who are the market leaders?
- What are the key strategies adopted by the market players?
- Which segments offer the greatest opportunities?
- Which are the most attractive regions?
- What are the key success factors for the market players?
- How does the business environment impact the market?
- Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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