The global Improvised Explosive Devices (IEDs) market size was USD 8.0 Billion in 2022 and is expected to reach USD 12.41 Billion in 2032, and register a revenue CAGR of 5% during the forecast period. The global threat of terrorism and insurgent activity is a major factor driving the market revenue growth. A major factor driving revenue growth of the market is the rising demand from military organizations and law enforcement agencies for counter-IED tools and systems to identify and destroy IEDs.

To keep one step ahead of their enemies, militaries across the globe are making major investments in cutting-edge counter-IED technologies. The creation of sophisticated Explosive Ordnance Disposal (EOD) robots and IED detecting systems is expected to drive market revenue growth. These technologies can identify and locate explosive devices from a safe distance while neutralizing them using cutting-edge sensors and Machine Learning algorithms.

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by growing use of Unmanned Aerial Vehicles (UAVs) and other unmanned systems in military operations. These systems' abilities to identify, track, and neutralize IEDs as well as detect and neutralize UAVs and other unmanned systems are driving market revenue growth. The demand for counter-IED and counter-UAV technologies is expected to rise in the future years as the usage of unmanned systems in military operations increases.

A further factor creating a high demand for counter-IED systems and equipment for use by law enforcement agencies is the escalating threat of terrorism and insurgent activity in urban areas. Law enforcement authorities are very concerned about the growing use of IEDs by terrorist organizations and criminal gangs in urban areas, which is increasing the need for cutting-edge counter-IED devices. Law enforcement organizations utilize these technologies, such as portable IED detection systems and handheld explosives detectors, to find and destroy IEDs in metropolitan settings.

In addition, the mining industry's rising demand for counter-IED technology is driving market revenue growth. Given that mining activities frequently include the use of explosives, the mining sector is one of the major end-users of counter-IED devices. The mining industry is expanding because of the rising demand for minerals and metals, which is expected to increase the need for counter-IED technologies in the upcoming years.

Competitive Landscape:

• Lockheed Martin Corporation
• General Dynamics Corporation
• Rheinmetall AG
• Israel Aerospace Industries Ltd.
• Chemring Group PLC
• BAE Systems plc
• L3Harris Technologies, Inc.
• Thales Group
• Northrop Grumman Corporation
• Cobham plc

The global market is further segmented into type and application:

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
• Latin America (Brazil, Rest of LATAM)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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