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.
 |
| Asia Pacific Homeland Security Market Revenue by Type, 2015 - 2024 (USD Billion) |
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: 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: 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: 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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