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.
Full research report on homeland security market analysis: 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.
View more reports of this category by Grand
View Research at: https://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
Full Press Release of this Report:
https://www.grandviewresearch.com/press-release/global-homeland-security-market
https://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.
