North America and Europe reflect worthwhile opportunities for CBRN protection equipment manufacturers, owing to investment upheaval in military sector.
LONDON, UK / ACCESSWIRE / February 11, 2020 / The global chemical, biological, radiological, and nuclear (CBRN) protection equipment market is projected to grow at a healthy CAGR of 5.4% through 2029-end. As concluded by a recent Future Market Insights (FMI) study, manufacturers of CBRN protection equipment should emphasize product customizations to stay competitive in global landscape.
'Rise in cross-border political conflicts between first-world nations is critically shaping global CBRN protection equipment market. The market growth will also be influenced by the upswing in nuclear power plants in the recent past,' opines the FMI report.
CBRN Protection Equipment Market: Key Findings
- Surging adoption of CBRN protection equipment in military applications continues to attract investments
- Personal protection equipment remains bestselling category, owing to rise in preventative training practices and personnel safety
- North America leads in CBRN protection equipment market, with over one-third revenue share
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Key Growth Drivers - CBRN Protection Equipment Market
- Increasing military expenditure of governments is the key factor bolstering CBRN protection equipment market
- Upsurge in production and testing of nuclear weapons and hydrogen bombs are driving adoption
- Advent of biotechnology and synthetic biology are creating multiple white space opportunities for market players
Key Impediments - CBRN Protection Equipment Market
- Limited manufacturing facilities in developing regions continues to pose threat for manufacturers
- Regulatory framework regarding nuclear devices and other radioactive materials will remain an impediment for market growth
The global CBRN protection equipment market is fragmented, with stronger presence of a number of small- and large-scale manufacturers. A majority of key players are aiming to extend their product portfolios through strategic collaborations, partnerships, and acquisitions. Leading players are focused on acquiring new contracts from respective governments as well as from developing economies. Some of the leading companies in CBRN protection equipment market include, but are not limited to, 3M (Scott Safety), Ansell LTD, Honeywell, AirBoss of America Corp., Indra Systemas SA, MSA Safety Inc., HDT Global, Drägerwerk AG & Co. KGaA, and Avon Protection Systems.
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About the Report
This 200+ page study offers readers with a comprehensive market forecast on the CBRN protection equipment market. Global, regional, and country levels analysis of the latest industry trends impacting the CBRN protection equipment market. The study provides compelling insights on CBRN protection equipment market on basis of product type (mobile/transportation CBRN protection, unhardened collective protection system, personal protection equipment, decontamination shelter systems), end use (military, civil defense and security, nuclear power plants, disaster management) and category (C decontamination, B decontamination, RN decontamination) across 30 countries spanning seven key regions - North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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