Dublin, April 29, 2021 (GLOBE NEWSWIRE) -- The "Research Department Explosive Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type and Application" report has been added to ResearchAndMarkets.com's offering.
Increased Spending on Defense and Military Applications to Escalate Research Department Explosive Market Growth during 2020-2027
Research Department Explosive (RDX) Market was valued at US$ 8,061.38 million in 2019 and is projected to reach US$ 10,363.27 million by 2027; it is expected to grow at a CAGR of 3.3% from 2020 to 2027.
Research department explosive (RDX) is hard, dissolvable in different solvents such as ethanol and ether, and insoluble in water. The manufacturing process of RDX comprises multiple stages, such as nitration, raw materials storing and feeding, filtration, disintegration, and transport.
Various manufacturers are investing comprehensively in research & development activities to build up pioneering products to support the defense forces and fulfill ever-escalating product demand. RDX is used in various military and typical applications such as fireworks and cast PBX charges.
The growing safety concerns and increasing need to protect the national borders and boundaries are inclining the government of different nations to spend more on their respective military, defense arms, and ammunition. In 2021, the Stockholm International Peace Research Institute mentioned that the global spending on military and defense is US$1,917 billion, which mostly accounts for 2.2% of the global gross domestic product (GDP).
The US, India, China, Russia, and Saudi Arabia are the top five spenders on defense and military applications and contribute to more than 60% of the global military spending. RDX is mostly used as an explosive in the military industry that can use with explosives such as TNT to make cyclotrons that produce bursting charges for mines, aerial bombs, and torpedoes well, as it can be used as a base charge for detonators.
The manufacturers are spending more on R&D activities to make innovative products to help the defense industry. RDX is used in a wide range of military applications such as bombs, munition of all calibers, plastic explosives, and missile warheads. Furthermore, the increase in the number of instances of terror attacks in different countries has led them to increase the spending on military and defense applications, which drives the growth of the research development explosives (RDX) market.
BAE Systems; Chemring Group PLC; Mil-Spec Industries Corporation; Nitro-Chem SA; Eurenco; PRVA ISKRA - NAMENSKA A.D.; Austin Powder; Dyno Nobel; Ensign-Bickford Industries, Inc.; and Orica Limited are among the well-established players in the global research department explosive (RDX) market.
Key Topics Covered:
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
4. Research Department Explosive Market Landscape
4.1 Market Overview
4.2 PEST Analysis
5. Research Development Explosive (RDX) Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increased Spending on Defense and Military Applications
5.1.2 Usage of RDX in Mining and Construction Industry
5.2.1 Stringent regulatory framework
5.3.1 Growing demand for RDX in Europe
5.4 Future Trend
5.4.1 Innovations in Developing Energetic Materials
5.5 Impact Analysis of Drivers and Restraints
6. Research Department Explosive - Global Market Analysis
6.1 Research Department Explosive Market Overview
6.2 Research Department Explosive Market -Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Global Market Players
7. Research Department Explosive Market Analysis - By Type
7.2 Research Department Explosive Market, By Type (2019 and 2027)
8. Research Department Explosive Market Analysis - By Application
8.2 Research Department Explosive Market, By Application (2019 and 2027)
9. Research development explosive (RDX) Market - Geographic Analysis
10. Overview- Impact of COVID-19
11. Key Company Profiles
Chemring Group PLC
Mil-Spec Industries Corporation
PRVA ISKRA - NAMENSKA A.D.
Ensign-Bickford Industries, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/3yqa06
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