Albany - New York, Oct. 6, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Chemical, Biological, Radiological, and Nuclear (CBRN) Security Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2021," global chemical, biological, radiological, and nuclear (CBRN) security market was valued at US$9.13 bn in 2014, expanding at a CAGR of 3.8% from 2015 to 2021 to account for US$11.92 bn in 2021.
The CBRN security market is primarily driven by escalating demand for effective CBRN incident combat equipment globally. The increasing importance for the security and safety of civilian lives during CBRN incidents caused either naturally, artificially, or intentionally is boosting the demand for CBRN security worldwide. The CBRN security systems and equipment facilitate the armed troops and civilians by providing effectiveness and accuracy in protection, detection and decontamination of the harmful agents during CBRN attack situations.
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In terms of segmentation by types, the nuclear security segment held the highest revenue share accounting for more than thirty percent of the overall market in 2014. With the increasing threats from terrorist organizations, the requirement for chemical and biological security is also escalating at substantial rate globally. In terms of functions, the decontamination equipment segment, detection equipment segment and protection equipment segment are evaluated to be growing at significant rates worldwide. The simulation systems segment is currently growing at a slower pace; however, this segment is expected to gain pace over the forecast period from 2015 to 2021.
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Geographically, North America lead the global CBRN security market with market revenue share more than thirty percent in 2014 and is expected to continue its dominance throughout the forecast period. Growing interest for effective CBRN control and increasing adoption of enhanced security systems to prevent CBRN incident are the major factors driving the growth of the CBRN security market in North America. Moreover, the initiatives undertaken by the governments and military to minimize threats from terrorist organizations are further contributing to the growth of CBRN security market in North America. The U.S. is presently estimated to be the largest market for CBRN security in the world and is expected to continue holding the position throughout the forecast period. Europe and Asia Pacific trails behind North America in the global CBRN security market to collectively account for more than fifty five percent of the global market revenue share. Asia Pacific currently accounts to be the fastest growing region in the global CBRN security market with a CAGR of 4.6% from 2015 to 2021. The report includes the market revenues of 18 major countries in the CBRN security market.
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The report provides company market share analysis of the various industry participants and a brief snapshot of the leading CBRN security contractors. Key players have also been profiled on the basis of company overview, financial overview, business strategies, historical roadmap and recent developments in the field of CBRN security. Major market participants profiled in this report include Argon Electronics (U.K.) Ltd., Bruker Corporation, FLIR Systems, Inc., Blücher GmbH, HDT Global, AirBoss Defense, Inc., General Dynamics Corporation, MSA Safety, Inc., Kärcher Futuretech GmbH and Thales Group among others.
Global Chemical, Biological, Radiological and Nuclear (CBRN) Security Market, 2015 - 2021: By Type
Global Chemical, Biological, Radiological and Nuclear (CBRN) Security Market, 2015 - 2021: By Function
- Simulation Systems
Global Chemical, Biological, Radiological and Nuclear (CBRN) Security Market, 2015 - 2021: By Geography
- Rest of Europe
- Rest of APAC
Rest of the World
Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
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