2014-02-04 03:45:04 - The CBRN Defense Market 2013-2023 - a new market research report on companiesandmarkets.com
The global CBRN defence market is suggested to have reached a value of around $9 billion at the beginning of 2013, and is forecast to grow to a total of $13.7 billion by 2023. This would suggest a CAGR growth rate of 4.2% between 2013 and 2023. The market consists of CBRN protection, detection, decontamination, disposal, and simulation equipment, and is expected to witness a marginal increase during the forecast period, primarily due to modernization initiatives planned in North America and Europe, and threats from terrorism and hostile neighbouring countries in the Asia Pacific and Middle Eastern regions.
CBRN protection equipment is expected to account for the major share of the global CBRN defence market by 2023, followed by detection and
Despite a number of developed countries, mostly in Europe, having called for a complete shutdown of nuclear reactors in all countries around the world, global nuclear energy generation is expected to increase significantly over the forecast period. Rapidly increasing demand for electricity, along with increasing fossil fuel prices, are making nuclear power an increasingly attractive option for many countries, especially in those where large-scale alternative energy generation such as wind and solar are not feasible.
It has also been reported that over 60 power reactors are currently being constructed in 13 countries including Turkey, Taiwan, China, South Korea, Poland, Bangladesh, Russia, the UAE, and India. All of these countries will have to spend on CBRN incident protection in order to ensure that tragedies such as the Fukushima spill-over are avoided.
One of the key issues facing the industry is to develop technically advanced and cost effective prototypes that can be transferred to mass production without much difficulty. The major impact is currently felt in developing advanced protective suits that need to counter changing threats while at the same time being light so as to minimize the physical load on the wearer. Specifically, companies are trying to address the heat load stress issue by aiming for a balance between a generic outfit and a highly technological garment. These innovations require significant funding and with the global economy just emerging from the economic crisis and defence budgets being cut, companies are hard pressed to get the required funding.
Since the CBRN protection industry is currently in its nascent stage, it requires considerable funding from the public and private sectors to develop effective counter measures against potential threats. However, recent years have witnessed various instances of neglect towards the CBRN sector; cancelled programs, cutbacks in research funding, and a focus on other defence sectors threaten to plague the industry. In 2004, the US Congress passed the Project BioShield Act in a bit to get the private sector to develop medical countermeasures against CBRN terrorism agents and to provide a mechanism for the government to acquire these countermeasures.
Click for report details: www.companiesandmarkets.com/Market/Defence/Market-Research/The-C ..
Browse all Defence Market Research Reports www.companiesandmarkets.com/Market/Defence/Market-Research?aCode ..
Browse all Defence Company Profile Reports www.companiesandmarkets.com/Market/Defence/Company-Profile?aCode ..
Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.comâs online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.