The global homeland security market size is
expected to reach USD 452.46 billion by 2024 according to a new report by Grand
View Research, Inc. Technological advances in homeland security across the
globe are expected to drive the market over the forecast period. Asia Pacific is
anticipated to witness considerable growth owing to the advancements across
emerging economies such as China and India. Currently, police modernization
along with tackling terrorism is the largest growing segments in India with the
increasing annual spending.
Manufacturers in the homeland
security market are increasingly adopting mergers & acquisitions as a part
of their growth strategy. For example, in 2015, Harris Corporation acquired
Exelis Inc., which brings a strong portfolio of complementary technologies. The
acquisition also significantly enhances the company’s position as one of the
primary provider of mission-critical solutions while expanding channels and
product offerings to the growing customer base.
The Homeland Security Advanced
Research Projects Agency (HSARPA), established by the Homeland Security Act of
2002, supports fundamental research to create revolutionary changes in new
capabilities, technologies and risk & threat assessments for the Homeland
Security Enterprise (HSE). It uses modernization and innovation for scientific
progress and produces front-line products. These products support DHS
components such as the U.S. Secret Service, U.S. Customs and Borders
Protection, the U. S. Coast Guard, and the Transportation Security Administration.
Browse full research report on Homeland Security Market: http://www.grandviewresearch.com/industry-analysis/homeland-security-market
Further key findings from the report suggest:
- Cyber security is anticipated to grow at a CAGR of
over 5.5% from 2016 to 2024, owing to the increasing number of cyber
crimes and rising privacy concerns. Cyberspace and its essential
infrastructure are vulnerable to a wide range of risk increasing from both
physical and cyber threats & hazards.
- The maritime segment accounted for over 8% of overall
revenue share in 2015, which is expected to grow over the forecast period.
It has become critical due to the rising number of maritime threats,
sabotage, piracy and unlawful acts. During recent years, maritime
terrorism has drawn considerable attention in the marine sector. Incidents
of maritime terrorism are very few as compared to piracy. However, it
attracts more media attention due to the involvement of greater loss of
life, property and consequential economic losses.
- Aviation segment is expected to witness substantial
growth at CAGR of nearly 5% over the period of 2015 to 2024. Airport
safety has undergone enormous transformations after the terrorist activities
across the globe. Also, it has endured significant improvements regarding
protection. Several airports such as ODG (Paris), Munich, Chhatrapati
Shivaji Airport (India) and Narita (Tokyo) are the examples
of the change in airport protection technologies.
- Stringent government guide lines worldwide are
expected to regulate the global homeland security market over the future.
North America dominated the industry contributing to over 25% of the
global revenue in 2015. The presence of several prominent homeland safety
solutions manufacturers in the region is expected to generate high demand
over the forecast period.
- Key industry participants include FLIR Systems
Inc.,Elbit Systems Ltd., General Dynamics Corporation, L-3 Communications
Holding Inc., Harris Corporation, Megal Security Systems Ltd., Safran SA,
Raytheon Company, Thales SA and Unisys Corporation. Manufacturers are
steadily adopting innovative production techniques to gain a competitive
advantage over others.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/network-security-software-and-services
Grand View Research has segmented the global homeland
security market on the basis of application, type and region:
Homeland Security Type Outlook (Revenue, USD Billion,
2015 - 2024)
- Aviation
security
- Maritime
security
- Border
security
- Critical
infrastructure security
- Cyber
security
- CBRN
security
- Mass
transit security
- Others
Homeland Security Regional Outlook (USD Billion, 2015 -
2024)
- North
America
- Europe
- Asia
Pacific
- RoW
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/global-homeland-security-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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