Global Chemical, Biological, Radiological, and Nuclear (CBRN) Security Market size is projected to be valued $14 Billion by 2024; with a CAGR of 3.6% from 2017 to 2025. Growing concern over the prevention of CBRN attack has propelled the growth of the CBRN security market globally. Various developing countries such as China and India are increasing their expenditure in adequate security structure to prevent the occurrence of nuclear accidents.
Increased threat from terrorist organizations, demilitarization initiatives adopted by various nations, and rise in worldwide demand for radiopharmaceuticals are the major factors driving the global CBRN security market. However, high installation and maintenance cost would restrain the market growth in coming years. Technological advancement in CBRN security equipment would provide several growth opportunities for the market in coming years.
The global CBRN security market has been segmented on the basis of type and function. By type, the market is segmented into chemical, biological, radiological, and nuclear. The nuclear segment accounted for the largest market share in 2016, owing to its huge demand in developing nuclear weapons and increased usage of nuclear power as a source of renewable energy in electricity generation.
By function, the market is further divided into protection, detection, decontamination, and simulation. The protection equipment segment accounted for the largest market share in the overall function segment in 2016, due to its extensive usage during severe injury caused by contact with chemical, biological, radiological, and nuclear hazards. Geographically, the market is categorized into North America, Europe, Asia-Pacific and Rest of the world (RoW).
Based on geography, the global CBRN security market has been segmented into North America, Europe, Asia-Pacific and (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers Germany, UK, France, Russia, Scandinavia, and others. Asia-Pacific covers China, India, Japan, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Major companies operating in the CBRN security market are Argon Electronics 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.
The report covers
Scope of CBRN Security Market
Function Type Segments