EOD Equipment Market is driven by defense forces modernization programs, EOD Equipment Market grows as there are rising number of instances of terrorist attacks
Online PR News – 24-May-2016 – Albany New York – Explosive Ordnance Disposal (EOD) equipment refers to the tools and equipments used to detect, dispose and provide protection during explosive disposal operations. A number of defense agencies globally have been striving to equip their forces with advanced equipment. Additionally, a number of law enforcement organizations have also introduced military EOD robots. Thus, the defense modernization as well as police force modernization programs in several countries are predicted to fuel the demand for EOD equipment globally.
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The rising focus on global EOD equipment market procurement from a number of government agencies is also raising the demand for EOD equipment globally. Furthermore, the rising count of terrorist attacks in the Middle East and Africa by terrorist outfits such as ISIS and Boko Haram has also raised the demand for EOD equipment in the region. A number of countries such as the U.S., France, and Russia have taken collaborative efforts to curb terrorism. This factor will also impact the EOD equipment market positively.Defense forces modernization programs is one of the major factors responsible for the growth of the EOD equipment Market. The governments across various countries are opting for EOD equipment as a result of the increasing bomb attacks. Moreover, defense organizations across the globe are focusing on providing defense forces with modern equipment so as to counter any form of intrusion. In addition, modernization of police forces is also expected to have a positive impact on the demand for explosive ordnance disposal equipment during the forecast period. In addition, increasing number of instances of terrorist attacks is also expected to boost the demand for explosive modernization disposal equipment globally. Africa and the Middle East have experienced a number of terrorist attacks in the recent past especially from the terrorist outfits such as Boko Haram and ISIS.
Factors such as police forces modernization programs and defense modernization programs are also expected to drive the demand for Explosive Ordnance Disposal (EOD) equipment. Various defense agencies across the globe are striving to equip their forces with modern equipment in order to counter terrorist intrusions. For example, large numbers of military organizations and law enforcement organizations have adopted military EOD robots. These robots can be programmed according to a given situation and can also be repurposed in a short time. Moreover, recent surge in number of terrorist attacks have also boosted the demand for EOD in recent years. The rise of various terrorist outfits such as ISIS and Boko Haram are constantly conducting coordinated country-wide attacks against the governments across the globe.
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These organizations are targeting malls, schools and embassies among others. As a result of these factors, defense organizations are increasingly adopting EOD equipment to counter the terrorist attacks. Furthermore, the joint efforts taken by various countries such as the U.S., Russia and France among others to curb terrorism have further resulted in an increased demand for EOD equipments. These factors in combination are expected to propel the demand for EOD equipment throughout the forecast period.
New Advanced Products Launched By Chief Manufacturers to Boost EOD Equipment Market
The prime EOD manufacturers have been continuously engaged in a number of research and development activities for gaining a competitive advantage in the market. As a result, a number of new products are being launched by the chief manufacturers operating in the market, along with modifications and advancements being implemented on the already existing products. For instance, in January 2014, DetectaChem introduced an explosive detector called as SEEKERe. This detector has been developed and designed in accordance with specifications that were requested by the U.S. Department of Defense. This will also impact the market positively. On the other hand, the cuts in defense budget across numerous nations are amongst the chief factors that may restrain the growth of the EOD equipment market. For instance, there was a 31% defense budget cut in U.S. military spending between 2010 and 2016.
Extensive Utilization in Defense Sector to Fuel EOD Equipment Market
On the basis of equipment type, the EOD equipment market is segmented into portable x-ray systems, bomb containment chambers, projected water disruptors, EOD robots, EOD suits and blankets, search mirrors, explosive detectors, and others. In terms of application, the market is segmented into two prime segments, namely law enforcement and defense. Amongst these, the defense application segment constituted the largest share of over 70% in the market in 2014. This segment is predicted to maintain its superiority in the market in the coming years. On the other hand, owing to the rising focus on homeland security, the segment of law enforcement is also anticipated to grow exponentially in forthcoming years.