A new study suggests that the global CBRN (Chemical, Biological, Radiological and Nuclear) protection equipment market will exhibit a healthy compound annual growth rate (CAGR) of more than 5% during the forecast period of 2019 – 2029.
The greater emphasis of governments on enhancing safety of military forces constitutes a major push to global sales of CBRN protection equipment, a new study suggests.
Increasing production of bioweapons, bio-agents, as well as chemical weapons has strengthened the demand for CBRN filtration systems, integrated COLPRO (collective protection) systems, and decontamination shelter systems. Demand for personal protective equipment such as gloves, boots, body suits, masks, and hoods is also rising, in line with rise in precautionary training practices.
Personal protection equipment will continue to be bestselling throughout the forecast period. The rising focus on safety among military personnel has enhanced demand in countries such as the U.S., Canada, Germany, France, Italy, Spain, and the U.K.
Demand for integrated COLPRO systems is anticipated to multiply, with rising requirement from developed economies such as the U.S., the U.K., and Germany.
Decontamination shelter systems will gain significant traction, which will drive CBRN protection equipment market growth.
With increasing CBRN attacks in developing economies, especially at airports, the demand for immediate response has enhanced the mandate for frequent CBRN protection training. Such CBRN training practices will further drive the global CBRN protection equipment market growth in following years.
Rising investments in nuclear reactor projects, especially in countries like Russia, India, UAE, Turkey, China, and South Korea are expected to bolster demand for CBRN protection equipment.
Rapid growth in production of chemicals and bio agents has resulted in greater demand for safety awareness. Regulatory bodies have formed numerous regulations to improve safety awareness among public, which is expected to fuel the growth of the CBRN protection equipment market.
CBRN threats are rising as a result of amplifying tensions between nations such as the U.S., Iran, and Syria, creating an opportunity for investments in CBRN protection equipment. The rising need for customized CBRN protection equipment is expected to drive market growth positively in the coming years.
Some key participants in the CBRN protection equipment market are 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, among others.
The global CBRN protection equipment market is competitive due to the presence of regional and large-scale players. However, it has been moving towards competitiveness, with contract acquirements and ongoing mergers and acquisitions of prominent players. Additionally, regional players in emerging markets are focusing on increasing value-addition in their product offerings at competitive pricing.
Political and geographical unrest between certain nations are increasing due to nuclear and bio threats, resulting in increased awareness of CBRN attacks as well as precautionary and preventive measures. The deployment of safety measures and investments in training practices are projected to enhance the demand for CBRN protection equipment over the forecast period.