Market for tech systems to fight terror bombs on track to top $2 billion by 2022
The global war on terror is fueling demand for robotic and other technology that can defeat or detect improvised explosive devices, or IEDs.
The counter-IED market is forecast to reach $2.03 billion by 2022, up from an estimated $1.78 billion at present, according to Research and Markets, a European research company. That will put it at a compound annual growth rate of just under 3 percent during the five-year forecast.
The IEDs used by the Islamic State terrorists have targeted both soldiers and civilians. Deadly bomb attacks by the terror group sympathizers also have rocked major cities in Western Europe.