According to a new market research report published by Credence Research “Explosive Ordnance Disposal (EOD) By Equipment Market Type– Body Armors and Anti-mine Boots, Portable X-Ray Machines, Bomb Containment Chambers, EOD Robots, Mine Detectors, Demining Tools and Projected Water Disruptors; By Application: Defense and Law Enforcement) – Growth, Future Prospects, Competitive Analysis and Forecast 2017 – 2025”, the global explosive ordnance disposal (EOD) market was valued at US$ 6,199.6 Mn in 2016 and is expected to grow at a CAGR of 4.8% during the forecast period from 2017 to 2025.
The complete report is available at http://www.credenceresearch.com/report/explosive-ordnance-disposal-eod-equipment-market
Explosive ordnance disposal (EOD) industry has witnessed sustainable growth in the recent years on account of various factors such as continued regional conflicts across the world. Rising geopolitical tensions in the Asia Pacific, Middle East and Africa region have led to the growing concerns pertaining to border security and safety of people residing in such areas. Moreover, rising instances of cross-border conflicts in numerous regions across the world have led to the increasing usage of explosives across the border. Furthermore, terror agents have been increasingly making use of mines and explosives on critical routes and passages along the borders to disrupt enemy’s transportation and logistics. Thereby, it has become imperative for the armed forces to make use of effective EOD equipment in order to ensure minimal casualties and continued transport services along the borders.
With increasing terror activities across the world coupled with rising bomb threats in some of the major countries, explosive ordnance equipment (EOD) has been gaining a higher adoption in the law enforcement and homeland security segment. Various terror attacks involving usage of explosives in the recent years have resulted in the higher demand for EOD equipment. Numerous local and state agencies have been engaged in equipping local authorities with state-of-the-art EOD equipment in order to ensure prompt and effective action in case of any bomb threats. Thereby, the explosive ordnance disposal (EOD) equipment market is expected to witness continued growth during the forecast period from 2017 to 2025.
The global explosive ordnance disposal (EOD) market is fragmented with several leading providers of EOD equipment catering to various countries across the world. Some of the key players in the explosive ordnance disposal (EOD) market include Northrop Grumman Corporation, E. I. du Pont de Nemours and Company, Armtrac Limited, Chemring Group PLC, Safariland, LLC, iRobot Corporation, Scanna MSC Ltd., United Shield International LLC, NABCO Systems, LLC., API Technologies Corp., Cobham plc and Reamda Ltd.
– Increasing adoption of robots in order to ensure minimal casualties
– Rising investments towards anti-terror agencies leading to increasing adoption of EOD equipment
– Growing demand in some of the major countries in the Western European region on account of increased terror threats