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Global ECBN monitoring market: $388 billion industry forecast by 2019

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Surveillance and Monitoring of Explosive, Chemical, Biological and Nuclear Hazards - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-18 11:41:03
The global ECBN monitoring market was valued at $148.3 billion in 2012 and is expected to reach $169.5 billion during 2013. The industry is forecast to surpass $387.9 billion by the end of 2019, after increasing at a five-year compound annual growth rate of 14.9%.

The demand for radiation/nuclear hazard monitoring equipment increased dramatically after the Chernobyl disaster in Russia in 1986. The industry for monitoring these hazards continued to grow after a number of significant global hazard events. Some of the major events that impacted the growth of the industry include the terrorist acts of September 11, 2001 and the earthquake and tsunami-induced disaster at the Fukushima nuclear power plant in Japan in 2011.

The employment or threat of explosives, chemical, biological, radiological, and nuclear weapons including toxic industrial materials presents serious challenges to peaceful countries worldwide. The deadly, destructive, and disruptive effects of these weapons and materials demand continuous vigilance by all concerned, and every country must train for and remain prepared to face the threat they pose.

The past few years have seen enormous advances in exciting and promising new technologies designed to detect and monitor ECBN hazards and to protect the personnel who must deal with them. The ECBN industry is characterized by equipment production that is moving steadily towards one size fits all and combination equipment that can detect a growing number of substances in the ECBN hazard spectrum.

Market influencers include the rise in public and private funding outlay for research and development, improving technology and function, government legislation of areas such as airports, embassies, oil fields and nuclear power plants. Additionally, the government is also encouraging the demand for hazard protection by implementing biometric markers in passport.

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Mike King
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