Volatile Geopolitical Scenarios and Rising Terrorism to Augment Demand for Chemical, Biological, Radiological, and Nuclear (CBRN) Security Systems

With the increase in terrorist activities worldwide and unfavorable geopolitical situation in many countries, governments and security agencies across the world are focusing on reducing nuclear and chemical stockpiles and prevent extreme weapons destruction from attacks by terrorist organizations. As a result of this, the adoption of chemical, biological, radiological, and nuclear (CBRN) security systems has increased substantially globally. Moreover, the shift in military tactics and implementation of modernizing programs for the military to curb hostile geopolitical situations in many countries are likely to provide manufacturers of CBRN security systems with lucrative growth opportunities. 

According to a report published by Transparency Market Research, the global CBRN security market is projected to expand at a 3.8% CAGR between 2015 and 2021. In 2014, the global chemical, biological, radiological, and nuclear security market was worth US$9.13 bn and is likely to touch a valuation of US$11.92 bn by 2021. 

What are the leading causes behind the increasing deployment of CBRN security systems? 

The increasing number of terrorist activities has impelled governments and security agencies worldwide to deploy CBRN security systems in their military bases, research laboratories, chemical industries and areas where nuclear and chemical weapons are stores. The rising concerns over minimizing intimidations from terrorist groups has increased the demand for CBRN security systems. Moreover, the rising initiatives by governments and security agencies across the world to train armed troops to protect citizens during CBRN attacks is likely to propel the demand for CRBRN security systems globally. 

Recently, during his Washington visit, the Prime Minister of India announced the investments and initiatives taken up by the Indian government to curb risks relating nuclear security. He announced the adoption of vitrified forms of weak radioisotopes like cesium-137 for strengthening nuclear threat detection techniques. 

What factors are likely to hamper the demand for CBRN security systems? 

The cost of installation of CBRN security systems and their maintenance and refurbishment is a major reason behind their low demand. CBRN security systems require large initial investments by the organization deploying it. Moreover, the expensive maintenance and refurbishment of CBRN security systems makes it unaffordable for many organizations. Emerging economies often find it difficult to invest in enhanced CBRN security systems due to their economic conditions. However, developed nations are at the forefront in terms of deployment of CBRN devices in their military warehouses and industries. 

Research Sample: 

Which regions can provide lucrative growth opportunities to manufacturers of CBRN security systems? 

The increasing demand for CBRN security systems from Asia Pacific, Africa, and the Middle East is expected to boost the growth of the global CBRN security systems market in the coming years. As a result of a rise in terrorist activities in these regions and concerns over CBRN weapons security, the governments of countries in these regions are considering the adoption of CBRN security systems as a potential option for securing their CBRN weapons warehouses and industries. 

Leading players operating in the global CBRN security systems market such as Bruker Corporation, Argon Electronics, Blucher GmbH, FLIR Systems, AirBoss Defense, Inc., HDT Global, MSA Safety, and General Dynamics are focusing on the manufacturing of more technologically advanced CBRN security systems. To maintain their position in the global CBRN security market, the leading companies are also aiming at business expansion through collaborations with regional CBRN security systems manufacturers. 

0 comments:

Post a Comment

Note: only a member of this blog may post a comment.

Latest Post

Market Research Reports