15 November 2021
Visiongain has published a new report entitled the Chemical, Biological, Radiological & Nuclear (CBRN) Defence Market Report 2022-2032: Forecasts by Type (Chemical, Biological, Nuclear, Radiological), by End-use (Commercial, Government), by Equipment (Detection, Protection, Respiratory Systems, Simulation & Training, Information Management Software) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
The global CBRN defense market was valued at US$xx million in 2021 and is projected to grow at a CAGR of xx% during the forecast period 2022-2032. Ongoing CBRN defense projects; rise in defense spending of the countries; and alarming terrorism activities are some of the major factors that boosting the growth of global CBRN defense market.
How has COVID-19 had a negative impact on the CBRN defense market?
In the year 2020, the COVID-19 pandemic had a negative impact on growth of the global CBRN defense market. Along with the production irregularities, the sector is also facing rising costs of raw materials. On the other hand, logistical and economic hindrances have disrupted s development, ales, and manufacturing of chemical, biological, radiological, and nuclear (CBRN) products.
However, the decline in the market growth is short term and the market is expected to witness significant growth rate in post pandemic. This is due to rise in number of collaboration agreement among the defense agencies and private CBRN defence companies as a countermeasure against CBRN threats.
How this Report Will Benefit you?
Our new study is suitable for anyone requiring commercial, in-depth analyses for the global CBRN defense market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for CBRN defense systems. Get the financial analysis of the overall market and different segments including type, end use, and equipment. We believe that high opportunity remains in this fast-growing CBRN defense market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the current market drivers?
Continuing defense cooperation among the governments or defense departments with CBRN defense solution providers; significant technological advancement across the global defense systems industry; and rise in governments inclination towards investigating a number of ways to ensure the safety of their citizens are among the current drivers boosting the global CBRN defense market.
According the Stockholm International Peace Research Institute (SIPRI), military expenditure across the globe has increased to $1,981 billion in 2020 with the growth of 2.6% as compared with 2019. This trend of rising defence spending boosts demand for CBRN defense systems.
Where are the market opportunities?
There is rising trend of military modernization initiatives. This creates lucrative growth opportunities for the market as such initiatives includes procurement of innovative CBRN defense solutions for enhancing the defense capabilities for the country. For example, under the Chinese Military Modernization Program 2027, the Chinese Army is projected to witness introduction of big-ticket items, such as additional aircraft carriers, a redesigned long-range bomber, and advanced CBRN defense systems.
Further, ongoing technological advancements and emergence of innovative products in the field of CBRN defence is anticipated to be opportunistic for the market.
The major players operating in the CBRN defense market are AirBoss of America Corporation, Argon Electronics, Avon Rubber, BioFire Defense, Bioquell, Bruker Corporation, Chemring Group PLC, CNIM Group, FLIR Systems, Leidos, Environics Oy, Smiths Group plc, Thermo Fisher Scientific, Kärcher Futuretech GmbH, MSA Safety, 3M Scott Fire & Safety, Thales Group, and HDT Global.
These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new products launch. For instance, in May 2021, BioFlyte, launched the Sentinel Airborne COVID-19 Detection System for real-world surveillance of airborne coronavirus as well as other respiratory pathogens. On the other hand, in June 2019, Bioquell launched High Performance Mobile Room Bio-Decontamination System. This launch offers cost benefits, a modular, upgradeable design along with innovative features.
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