In 2015, the global homeland security market was worth USD 279.64 trillion. Market growth is expected to be driven by the increased demand for safety solutions in many industries, including aviation, cyber and border security. To offer new products, the industry is competitive. Manufacturers invest heavily in R&D. Harris Corporation, for example, invests in R&D to provide mission-critical communications at a faster rate and lower cost.
Asia Pacific Homeland Security Market Revenues by Type, 2015-2024 (USD billion)
Numerous government initiatives were taken to curb growing cross-border insurgency. Terrorist threats will drive demand. The government of different countries is urging them to make significant investments in homeland security solutions. This includes reducing human trafficking, drug smuggling and illegal immigration. Cybersecurity is expected to be the fastest growing market segment. This is due to the fact that cyber defenses are being developed in North America and Europe, which have a significant impact on the growth of the homeland security market.
Cloud, social and next-generation mobile computing are fundamentally changing the way businesses use information technology to share information and conduct online commerce. Currently, more than 80 per cent of all commercial transactions are conducted online. This ensures that transactions are safe and transparent.
In many countries, unmanned systems are used extensively for national safety missions. As an example, in October 2014, U.S. Army (USAF) unmanned aerial system (UAS), had flown more than three million hours. The U.S. Navy recently increased its experiments in a variety of unmanned maritime system (UMS). The industry is set to grow further as unmanned systems become more cost-effective, efficient, and simpler to use.
Cyber security accounts for more than 20% of total revenue. This share is expected to increase at a CAGR exceeding 5.5% between 2016 and 2024. Cybersecurity risks are high due to the increasing dependence on information technology infrastructure and e services. This has led to a key focus on safety and improving national defense capabilities.
The advancements in technology such as RFID, handheld screening and biometric identification will allow for significant growth in the aviation segment at a rate of almost 5%.
CBRN is expected to grow at an estimated 4.5% CAGR over the forecast period. The use of technological innovations such as nanotechnology and networked cameras to identify crucial intelligence has made them powerful tools in counter-terrorism operations. This will increase the effectiveness of antiterrorism countermeasures. The diffusion of advanced technology capabilities could allow terrorists to gain access to CBRN material and guided missiles, which could pose a threat to homeland safety.
From 2016 to 2024, the Asia-Pacific homeland security market will grow at a rate of 6.0%. In the future, emerging economies like India and China will drive regional growth. India's safety concerns over domestic law and terrorist attacks led the central government and state to concentrate on modernizing the country's defense and security infrastructure. This has resulted in an increase in budgetary allocations for homeland security and other initiatives, such as the National Security Agency, which provides a Unique Identification number (UID) to all citizens of India, and the Crime and Criminal Tracking Network and Systems. North America was the dominant industry, accounting for more than 25% of the industry's revenue share in 2015. This sector is expected to grow at an estimated 3.5% CAGR from 2016 to 2024. Cyber-attacks have increased exponentially in America, which has led to increased attention on cybersecurity across the region.
Elbit Systems Ltd. and FLIR Systems Inc. are key participants. The industry's manufacturers are constantly focused on cost reduction for advanced technologies and next-generation solutions. FLIR Systems, for example, continues to reduce the cost of advanced sensors products while the price of thermal technology continues its decline.
b. Global homeland security market size was USD 339.4 Billion in 2019, and is forecast to rise to USD 355.4 Billion by 2020.
What is the growth rate of the homeland security market?b. Global homeland security market will grow at a compound annual rate of 5.4% between 2016 and 2024, reaching USD 452.4 million in 2024.
Which segment had the largest share of the homeland security market?b. With a 28.5% share in 2019, Asia Pacific was the dominant player on the homeland security market. This can be attributed to an increase in homeland security spending budgets.
Who are the major players in the homeland security market?b. Among the key players in the homeland security market are lbit Systems Ltd. and FLIR Systems Inc., General Dynamics Corporations Harris Corporations, L-3 Communications Holding Inc. Raytheon Companys, Safran SA, Thales SA and Unisys Corporation.
What are the main factors that drive the homeland security marketb. The market growth is being driven by a rise in safety equipment and solutions across many industries, including aviation, maritime and border security.
Up Market Research published a new report titled “Homeland Security Market research report which is segmented by Type (Maritime, Critical Infrastructure, Mass Transit, Cyber, Border, CBRN, Aviation), By Players/Companies lbit Systems Ltd, Thales SA, Safran SA, FLIR Systems Inc, Unisys Corporation, General Dynamics Corporation, Harris Corporation, L-3 Communications Holding Inc, Raytheon Company”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Homeland Security Market Research Report |
By Type | Maritime, Critical Infrastructure, Mass Transit, Cyber, Border, CBRN, Aviation |
By Companies | lbit Systems Ltd, Thales SA, Safran SA, FLIR Systems Inc, Unisys Corporation, General Dynamics Corporation, Harris Corporation, L-3 Communications Holding Inc, Raytheon Company |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 203 |
Number of Tables & Figures | 143 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type (Maritime, Critical Infrastructure, Mass Transit, Cyber, Border, CBRN, Aviation).
Homeland Security Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Homeland Security Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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