Homeland Security Systems Led by Cyber Security, at 5.60% CAGR from 2014 to 2020

2024-11-08 05:30:49 News & Society

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Homeland security is an umbrella term for safeguarding the nation against any anti-social groups and threats by terrorist organizations. The market is chiefly driven by various government initiatives undertaken to prevent cross border insurgency and increasing terrorist threats around the world. The government initiatives are boosting the market for homeland security products. Some of the government initiatives include TECS Mod program undertaken by the U.S., Sisfron program undertaken by Brazil, and Project Cytoon undertaken by South Africa, among many others. Homeland security products consist of all equipment used for protecting threats, crime, or illegal activities worldwide.

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The report analyzes the homeland security market on a regional, as well as a global level, providing estimates in terms of revenue (USD Billion) from 2014 to 2020. It also covers in-depth details of the growth drivers and restraining factors affecting the industry, and evaluates the impact of these factors over the forecast period.

For gaining a better approach on the homeland security market, the report is designed in the effort to give detailed analysis of the value chain segment, and identify significant opportunities for market growth in the near future. Moreover, with Porter?s five forces analysis and SWOT analysis it is easier to understand the degree of competition and recent developments in the market for homeland security. The study report also comprises market attractiveness analysis, where security equipment is benchmarked based on their growth rate, market scope, and general attractiveness.

The research report on homeland security segments the market on the basis of geography into Asia-Pacific (APAC), North America, Europe, and Rest of the World (RoW). All these regional markets are estimated in terms of revenue (USD Billion).

Overview of the Homeland Security Market

In 2013, the global homeland security market was valued at USD 245.72 billion, however is expected to grow at a CAGR of 5.6% during the forecast period, 2014 to 2020 to reach a market size of USD 364.44 billion by 2020.

Homeland security operations provide resilience in case of any threat or terrorist attack. Against this backdrop, the market witnesses an increasing demand for security equipment to avert sensitive national issues such as cross border insurgency, terrorist threats, human and drug trafficking, illegal immigration, and cyber threats, which in turn are fuelling the growth of this market.

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Apart from the fact that the homeland security market is primarily driven by government initiatives to prevent threats and crimes, rising incidences of drug smuggling, illegal immigrations, and human trafficking are compelling governments of different nations to invest considerably in procurement of homeland security products.

On the basis of security type, the market can be categorized into eight major segments including maritime security, critical infrastructure security, aviation security, cyber security, border security, mass transit security, CBRN security, and others (C3I, public safety, and counter terror intelligence).

The rise and risk of terrorist attack has boosted the aviation security spending. Similarly, the need to provide access control to critical infrastructure and effective identification and security checking in public and private network places has gained wide acceptance of security products across different sectors in the world.

The cyber security segment amongst all other segments was the largest sector accounting for 39.31% of the global market in 2013. Owing to rising incidences for security solutions and products to counter cyber threats, the market is expected to grow at a CAGR of 5.8% in the forecast period.

North America and Asia Pacific are expected to maintain its leading position in the global market for homeland security. Asia-Pacific owing to its heavy investments in military technologies by emerging countries such as India and China are likely to remain as the top industry participants catering maximum growth to this sector. Europe and other countries in RoW such as, UAE, Brazil, and Turkey have shown a rapid inclining growth for homeland security products for averting terrorist threats.

Companies Mentioned in the report

Some of the key market players profiled in the research report are on the basis of financial overview, company overview, business strategies, and SWOT analysis in the field of homeland security. These major market participants include Magal Security Systems Ltd., Raytheon Company, Finmeccanica S.p.A, FLIR Systems, Inc., Elbit Systems Ltd., L-3 Communications Holdings, Inc., Safran S.A., General Dynamics Corporation, Harris Corporation, Thales Group, Unisys Corporation, and OSI Systems, Inc. among others.

Browse the full Press Release of Homeland Security Market at:
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