Market for tech systems to fight terror bombs on track to top $2 billion by 2022

on Jul20

A US Marine of 2nd Marine Expeditionary Brigade runs to safety moments after an IED blast in Garmsir district of Helmand Province in Afghanistan on July 13, 2009.

Manpreet Romana | AFP | Getty Images

A US Marine of 2nd Marine Expeditionary Brigade runs to safety moments after an IED blast in Garmsir district of Helmand Province in Afghanistan on July 13, 2009.

The global war on terror is fueling demand for robotic and other technology that can defeat or detect improvised explosive devices, or IEDs.

The counter-IED market is forecast to reach $2.03 billion by 2022, up from an estimated $1.78 billion at present, according to Research and Markets, a European research company. That will put it at a compound annual growth rate of just under 3 percent during the five-year forecast.

One major area has been UAVs deployed by militaries in conflicts for surveillance of IEDs, while another is handheld technology or systems designed on armed vehicles to defeat the bombing devices. There’s also been increasing use of bomb detection and disposal robots.

The IEDs used by the Islamic State terrorists have targeted both soldiers and civilians. Deadly bomb attacks by the terror group sympathizers also have rocked major cities in Western Europe.

Large U.S. defense firms active in the counter-IED space include Lockheed Martin, General Dynamics, Northrop Grumman and Raytheon. There also are foreign companies, including Israel’s Elbit Systems and France’s Thales.



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