Global Chemical, Biological, Radiological, and Nuclear (CBRN) Security Market: D
According to the latest report published by Variant Market Research, the global CBRN market size is projected to reach $14 billion by 2024 from $10 billion in 2016. In this report, CBRN market forecast says that the global market is growing at 3.7% CAGR from 2016 to 2024.
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Increased threat from terrorist organizations to drive the global market
The global CBRN market trend includes increased threat from terrorist organizations, demilitarization initiatives adopted by various nations, and rise in worldwide demand for radiopharmaceuticals. Though, high installation and maintenance cost may hinder the chemical, biological, radiological, and nuclear (CBRN) security market growth. Moreover, Technological advancement in CBRN security equipment would provide an opportunity for players of market.
The global chemical, biological, radiological, and nuclear (CBRN) security market is classified into type, function, and geography. Type segment includes chemical, biological, radiological, and nuclear. Further, the market is classified on basis of function into protection, detection, decontamination, and simulation. North America (U.S., Mexico, and Canada), Europe (France, Russia, Scandinavia, Germany, UK, and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in this market.
Nuclear segment, by type dominated the global market in 2016
Nuclear segment held for the highest market share in 2016 and expected to continue its dominance over the forecast period, 2016– 2024, owing to its huge demand in developing nuclear weapons and increased usage of nuclear power as a source of renewable energy in electricity generation.
Protection equipment, by function dominated the global market in 2016
Protection equipment held for the highest market share in 2016 and expected to continue its dominance over the forecast period, 2016– 2024, due to its extensive usage during severe injury caused by contact with chemical, biological, radiological, and nuclear hazards.
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North America dominated the global market in 2016
North America held for the highest market share in 2016 and expected to continue its dominance over the forecast period, 2016– 2024. Increased threat from terrorist organizations and rise in applications of radiopharmaceuticals in medical treatments is the driving factor for the growth of the market in North America. Asia-Pacific (including countries such as Guam, South Korea, among others) is to attain the fastest CAGR during the forecast period 2016-2024.
Key players are offering innovative products and services to increase their chemical, biological, radiological, and nuclear (CBRN) security market share. Major players of the market are FLIR Systems, Inc., Argon Electronics Ltd., Bruker Corporation, Blücher GmbH, HDT Global, AirBoss Defense, Inc., Thales Group, General Dynamics Corporation, MSA Safety, Inc., and Kärcher Futuretech GmbH, among others.
Scope of CBRN Security Market
Function Type Segments
- North America
- United Kingdom
- South Korea
- South America
- Middle East
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