“CBRN Defence market to total USD 16.4 billion in 2030”, says new Visiongain report
24 February 2020
Visiongain has published a new defence report entitled, Chemical, Biological, Radiological & Nuclear (CBRN) Defence Market Forecast 2020-2030.
The CBRN Defence market is estimated to witness a Compound Annual Growth Rate of 6.7 per cent from 2020 to 2030.
Several factors are having a profound, driving effect on the industry, particularly chemical attacks by terrorists, criminals and cults; the increasing threat of bioterrorism; and the fact that several non-state groups have demonstrated an interest in acquiring a nuclear weapon or have attempted to buy material on the black market.
Visiongain anticipates that global investment and consolidation will be robust and stable over the next decade. The market's strong health is due to the factors listed above, as well as the presence of established companies.
The leading players currently developing CBRN Defence equipment and services are AirBoss of America Corporation, Argon Electronics, Avon Rubber, BioFire Defense, Bioquell, Blücher GmbH, Bruker Corporation, Chemring Group PLC, CNIM Group, Cristanini SpA, Environics Oy, FLIR Systems, NBC-Sys, OWR GmbH, Paul Boyé Technologies, Proengin, Smiths Group plc and Thermo Fisher Scientific.
The senior Defence Analyst said: "The global Chemical, Biological, Radiological and Nuclear Defence market is expected to generate sales of USD 9.46 billion in 2020.
"The CBRN Defence industry aims to deliver capabilities that will severely reduce the likelihood of a chemical, biological, radiological or nuclear attack. Members of this sector also offer an effective response to successful CBRN threats, helping to minimise the risk to the public, surrounding environment and critical infrastructure.
"A CBRN attack differs from a hazardous material incident not only in the malicious intent behind it but also in the scale of the damage, the number of victims affected and coordinated, multi-agency response.
"Today, the CBRN Defence industry is a prosperous worldwide business and is being driven forward by the increasing accessibility of materials to non-state actors thanks to advancements in technology and the expansion of commercial channels; capability gaps and limitations in existing CBRN defence structures which have been highlighted by recent crises; and trafficking of nuclear and radioactive material across inconsistently implemented controls at international border points.
"Indeed, by 2030, visiongain predicts that the Chemical, Biological, Radiological & Nuclear Defence market will have surpassed the 15 billion-dollar mark, achieving a total sales figure of USD 16.4 billion."
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