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: https://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:
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
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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