The North America research department explosive (RDX) market is expected to grow from US$ 1,596. 31 million in 2019 to US$ 2,087. 01 million by 2027; it is estimated to grow at a CAGR of 3. 5% from 2020 to 2027.
New York, April 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Research Department Explosive Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type, Application" - https://www.reportlinker.com/p06065019/?utm_source=GNW
Rise in safety concerns, and surge in need to protect the national borders have been compelling the government of different countries to spend significantly on their respective military forces and ammunition. Increase in the number of terror attacks in different countries has led them to increase the spending on military and defense applications and led to the development of the research development explosives (RDX) market. According to the Stockholm International Peace Research Institute, North American countries are spending on US$1,917 billion on military and defense, which accounts for ~2.2% of the gross domestic product of the region. The US is among the top 5 spenders on defense and military applications in the world, and it accounts for more than 60% of the North American military spending. RDX is used in a wide range of military applications, including bombs, caliber munition, plastic explosives, and missile warheads. It can be used with explosives such as TNT to make cyclotrons that produce charges for mines, aerial bombs, and torpedoes well as can be used as a base charge for detonators. Manufacturers are allocating greater amounts for R&D activities to make innovative products for the defense industry.
The North America research department explosive (RDX) market, based on type, is segmented into explosives, pyrotechnics, and others.The pyrotechnics segment led the market in 2019.
Pyrotechnics include signaling flares, illuminating flares, white and colored smoke generators, tracers, photo-flash, and fuse compounds.Pyrotechnics such as safety matches, oxygen candles, fasteners, and explosive bolts are used for entertainment purposes.
Various countries conduct large-scale pyrotechnic festivals. During the COVID-19 pandemic, the research department explosive (RDX) market has experienced slow growth due to the lockdown in countries such as US, Canada and Mexico, which resulted in less labor footfall in factories.
The North America research department explosive (RDX) market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the North America research department explosive (RDX) market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic.
The participants typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the North America research department explosive (RDX) market. Bae Systems; Chemring Group PLC; Austin Powder Company; Nitro-Chem SA; Ensign-Bickford Industries, Inc.; Eurenco, Orica Limited; and Prva Iskra Namenska AD are among the key companies serving the market in this region.
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