PUBLISHER: The Business Research Company | PRODUCT CODE: 1425776
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425776
Research Department Explosive (RDX) Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on research department explosive (rdx) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for research department explosive (rdx)? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The research department explosive (rdx) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Research Department Explosive (RDX) is a robust, white, crystalline substance characterized by its solubility in select solvents while remaining insoluble in water. This explosive finds primary use in non-military applications within research departments, notably in blasting caps due to its responsiveness to percussion.
The key categories of research department explosives encompass explosives, pyrotechnics, and other related variations. Explosives, broadly defined as substances or devices capable of generating a rapid expansion of gas within an extremely brief period, are distributed through diverse sales channels including direct channels and distribution networks. They serve a dual purpose, being utilized by both military entities and civilians
The research department explosive (RDX) market research report is one of a series of new reports from The Business Research Company that provides research department explosive (RDX) market statistics, including research department explosive industry global market size, regional shares, competitors with a research department explosive market share, detailed research department explosive (RDX) market segments, market trends and opportunities, and any further data you may need to thrive in the research department explosive industry. This research department explosive (RDX) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The research department explosive (rdx) market size has grown strongly in recent years. It will grow from $10.01 billion in 2023 to $10.55 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. During the historic period, growth can be attributed to several factors including heightened application across military and civil industries, the influence of regulatory policies, market segmentation strategies, and a heightened emphasis on public safety concerns. These elements collectively contributed to the observed growth during that period.
The research department explosive (rdx) market size is expected to see strong growth in the next few years. It will grow to $12.9 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The anticipated growth in the forecast period is driven by expanding market opportunities, worldwide economic resurgence, industry demand, regulatory influences, and increased military and defense spending. Key trends expected during this period encompass advancements in explosive technologies, a transition towards less sensitive munitions, ongoing research into energetic materials, international cooperation in defense research and development, and the effects of global events.
The expansion of mining activities is anticipated to drive the future growth of the research department explosive (RDX) market. Mining activities involve the extraction of industrial rock resources, valuable non-metallic minerals, or metallic mineral deposits from the earth. The use of explosives is a common practice in almost all mining operations to break up or remove rock and other solid materials. As an illustration, the U.S. Geological Survey reported that U.S. mines generated approximately $90.4 billion in mineral commodities in 2021, marking a $9.7 billion increase from the 2020 total of $80.7 billion. Consequently, the upsurge in mining activities is a key factor propelling the growth of the research department explosive (RDX) market.
The anticipated rise in military expenditure is poised to be a significant driver for the growth of the research department explosive (RDX) market. Military expenditure represents the financial resources allocated by a government or nation to fund its military forces, defense infrastructure, and related activities. Increased military spending results in a heightened demand for research department explosives (RDX), crucial for the development and production of advanced military munitions and weapons. For example, the Stockholm International Peace Research Institute reported in April 2023 that global military expenditure reached a record high of $2,240 billion in 2022, reflecting a 3.7% increase in real terms compared to the previous year. The United States, China, and Russia were the top three spenders, collectively accounting for 56% of the world total, with the United States maintaining its position as the largest military spender at $877 billion, constituting 39% of the total global military spending. Consequently, the escalating military expenditure is a driving force behind the growth of the research department explosive (RDX) market.
In the research department explosive (RDX) market, strategic partnerships and collaborations are gaining prominence among major industry players. These alliances aim to enhance market share and effectiveness. For instance, in June 2022, EURENCO, a France-based company in the research department of explosives, collaborated with ARESIA, a France-based aviation and aerospace component manufacturing company. This partnership facilitated the French Ministry of Defense in addressing military concerns through a unified point of contact, streamlining the handling of a variety of export requests. Additionally, in April 2022, Raytheon Australia, an Australia-based defense and space manufacturing company, formed a partnership with Lockheed Martin Australia, an Australia-based company in the research department of explosives. This collaboration significantly bolstered their capacity to maintain and produce guided weapons and components, positioning them as major providers of guided weapons to the defense sector, with parent corporations based in the U.S. These strategic collaborations underscore the growing trend of partnerships within the research department explosive (RDX) market.
Prominent enterprises in the Research Department Explosive (RDX) market are intensifying their focus on the introduction of explosive detectors, exemplified by innovations like NanoSniffer, to establish a competitive advantage. An explosive detector is a specialized device or system designed for the identification of explosive materials or substances. Notably, in April 2021, IIT Incubates, an India-based research startup, achieved a milestone by launching NanoSniffer, recognized as the world's first microsensor-based explosive detector. This cutting-edge device boasts the capability to detect explosives in less than 10 seconds, showcasing remarkable speed and efficiency. Furthermore, NanoSniffer demonstrates versatility by identifying and categorizing various classes of military, conventional, and homemade explosives. The device provides visible and audible alerts and is designed to be sunlight-readable, enhancing its practicality in diverse environments.
In a strategic move in November 2022, Rheinmetall, a Germany-based military equipment manufacturer, completed the acquisition of Expal Systems for $1.24 billion. This acquisition is positioned to fortify Rheinmetall's core businesses related to weapons, ammunition, and propellants. Expal Systems, a specialized weapons company, is renowned for providing comprehensive services to the defense and security sectors. The acquisition aligns with Rheinmetall's strategic objectives, aiming to enhance its capabilities and offerings in the defense industry, contributing to its position as a key player in the Research Department Explosive (RDX) market.
Major companies operating in the research department explosive (rdx) market report are BAE Systems PLC, Chemring Group PLC, Mil-Spec Industries Corporation, Chemical Plant NITRO-CHEM SA, Nippon Oil & Fats Co.Ltd., Austin Powder Company, Dyno Nobel, Explosifs Produits Chimiques S.A., Eurenco, Nitro-Chem SA, Orica Limited, PRVA ISKRA - NAMENSKA A.D., General Dynamics Ordnance and Tactical Systems, Rheinmetall AG, Svenska Aeroplan Aktiebolaget, Thales Group, Nammo AS, Poongsan Corporation, Hanwha Corporation, MAXAMCorp Holding S.L., Solar Industries India Limited, Ensign-Bickford Industries Inc., Chemring Energetics UK Ltd., Energetics Technology Center, HEXPOL Compounding LLC, ATK Thiokol, Chemico Group, AECI Limited, Arsenal Inc., Enaex S.A.
North America was the largest region in the research department explosive (RDX) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the research department explosive (RDX) market report during the forecast period. The regions covered in the research department explosive (rdx) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the research department explosive (rdx) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The research department explosives (RDX) market consists of sales of PBX-9007, PBX-9010, PBX-9205, PBX-9407, PBX-9604, and other types. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.