Market Growth for Tech, Robots to Fight IEDs to Exceed $2B by 2022

The war on terror has sparked a demand for technology — including robotics — that can counter or detect deadly improvised explosive devices, CNBC reported Wednesday.

Research and Markets, a European research company, is forecasting the "counter-IED market" will grow to $2.03 billion by 2022, up from an estimated $1.78 billion currently.

According to CNBC, areas that've taken off include unmanned aerial vehicles, which have been deployed by militaries for surveillance of IEDs, and handheld technology and systems on armed vehicles used to combat IEDs. There's also been increasing use of bomb detection and disposal robots.

U.S. defense firms active in counter-IED space technology include Lockheed Martin, General Dynamics, Northrop Grumman and Raytheon, CNBC reported.

"The military segment is expected to lead the counter-IED market in 2017," according to the report, CNBC reported. "Militaries of different countries are the major end user of different types of counter-IED equipment and devices as they continuously face the threats of improvised explosive device blasts."

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