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(IT-NEWSWIRE.COM, June 30, 2020 ) The CBRN Defense Market was $14.68 Billion in 2016 and is projected to reach $19.15 Billion by 2022, at a CAGR of 4.65% from 2017 to 2022. Various factors, such as growing regional conflicts among nations have led to stockpiling of various Weapons of Mass Destruction (WMD) by various countries, and threats from terrorist groups and hostile neighboring countries are expected to drive the market.
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Among types, the chemical segment is estimated to account for the largest share in the CBRN defense market in 2017 and is projected to grow at the highest CAGR during the forecast period. The main users of chemical defense equipment include first responders in the police, fire safety department, and Hazmat safety officers in the commercial and civil sectors. Military users include CBRN response teams in armed forces.
Among equipment, the protective wearables segment is estimated to account for the largest share in the CBRN defense market in 2017 and is projected to grow at the highest CAGR during the forecast period. Protective wearables are equipment designed for the protection of first responders from CBRN material exposure, such as firefighters and counter terrorism teams. This equipment includes protective clothing, protective gloves, protective footwear, and protective masks & hoods. Growth of this segment can be attributed to the mandatory requirement of protective wearables for field CBRN officers and Hazmat professionals across the world.
Among end users, the defense segment is projected to grow at the highest CAGR during the forecast period. Growth of this segment can be attributed to the increased requirement of efficient tools and equipment for homeland security personnel that use CBRN defense equipment, including first responders in the police, fire safety department, and Hazmat safety officers.
North America is projected to grow at the highest CAGR from 2017 to 2022. Countries in this region include the US and Canada. Substantial investments by the US in defense and advancements in military capabilities of the US and Canada are some of the factors driving the CBRN defense market in North America.
Key Market Players
Major players in the CBRN defense market are Flir Systems, INC, Thales Group, Chemring Group Plc, Bruker Corporation, MSA Safety, Inc., and Smiths Group Plc, among others.
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