Homeland Security Market Report

Homeland Security Market Analysis By Type (Aviation, Maritime, Border, Critical Infrastructure, Cyber, CBRN and Mass Transit) And Segment Forecasts To 2024

  • Published Date: May, 2016
  • Base Year for Estimate: 2015
  • Report ID: 978-1-68038-877-0
  • Format: Electronic (PDF)
  • Historical Data: 2013-2015
  • Number of Pages: 76

Report Overview

The homeland security market size was USD 279.64 billion in 2015. The increase in demand for safety equipment and solutions across several industries such as aviation, maritime, cyber, and border security is anticipated to drive market growth over the forecast period. The industry is highly competitive, and manufacturers invest heavily in R&D operations to offer innovative products. For example, Harris Corporation invests its R&D funds in providing new mission-critical communications at a faster pace and lowering cost.

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

Asia Pacific Homeland Security Market

Several government initiatives were undertaken to restrict increasing cross-border insurgency and terrorist threats are expected to drive demand. Also, growing human trafficking, drug smuggling, and illegal immigration are persuading the government of various countries to invest profoundly in the procurement of homeland security solutions. Cybersecurity is anticipated to be the fastest-growing market segment. This growth can be attributed to regions such as North America, and Europe that is investing immensely in cyber defenses, hence, driving the homeland security market.

Advanced technologies such as cloud, social, and next-generation mobile computing in the business environment are fundamentally altering the way organizations exploit information technology for sharing information and conducting online commerce. Presently, more than 80 percent of total commercial transactions are made online, which seeks high quality of safety for transparent transactions.

Unmanned systems are being used extensively in national safety missions across the world. For instance, as of October 2014, the U.S. Army and U.S. Air Force (USAF), unmanned aerial systems (UAS) had flown over three million flight hours. Recently, the U.S. Navy has increased its experimentation in an assortment of unmanned maritime systems (UMS). Unmanned systems are becoming more affordable, proficient, and easier to operate which is expected to drive the industry growth further.

Type Insights

Cyber security has accounted for over 20% of the overall revenue share, which is expected to grow at a CAGR of over 5.5% from 2016 to 2024. The significant cyber protection risks occur from the widespread and increasing dependence on information and communication technology infrastructure and e-services, which has led the key focus on ensuring safety by combating cybercrime more efficiently and advancing national defense capabilities.

Aviation segment is expected to witness significant growth at a CAGR of nearly 5% owing to the advances in technologies such as biometric identification, handheld screening, and RFID technology.

CBRN segment is estimated to grow at a CAGR of nearly 4.5% over the forecast period. Technological innovations, such as nanotechnology, networked video cameras, and software design, to identify critical intelligence information have become powerful tools for counter-terrorism operations, increasing the effectiveness of anti-terrorism countermeasures. However, diffusion of advanced technological capabilities could facilitate terrorist access to CBRN materials, as well as guided missiles which could harm the homeland safety.

Regional Insights

The Asia-Pacific homeland security market is expected to grow at a CAGR of over 6.0% from 2016 to 2024. Emerging economies such as China and India are expected to drive regional growth over the future. In India, safety concerns about domestic law and terrorist attacks have prompted the state and central government to focus on the modernization of the country’s security and defense infrastructure. This has led to the increase in budgetary allocation for homeland security expenditure and other initiatives such as National Security Agency, providing a Unique Identification (UID) number to all citizens of the country and establishment of the Crime and Criminal Tracking Network and Systems (CCTNS). North America dominated the industry with over 25% of the revenue share in 2015 and is expected to grow at a CAGR of nearly 3.5% from 2016 to 2024. The number of cyber-attacks has increased exponentially in the U.S. that has led to an increased focus on cyber safety across the region.

Key Companies & Market Share Insights

Key participants include Elbit Systems Ltd., FLIR Systems Inc., General Dynamics Corporation, Harris Corporation, L-3 Communications Holding Inc., Megal Security Systems Ltd., Raytheon Company, Safran SA, Thales SA, and Unisys Corporation. Manufacturers in the industry continuously focus on cost reduction of advanced next-generation solutions and technologies such as sensor technology for evolving customer needs. For example, FLIR Systems continues to lower the cost of advanced sensing products as the cost of thermal technology continues to decline.

Homeland Security Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 355.4 billion

Revenue forecast in 2024

USD 452.4 billion

Growth Rate

CAGR of 5.4% from 2016 to 2024

Base year for estimation

2015

Historical data

2013 - 2015

Forecast period

2016 - 2024

Quantitative units

Revenue in USD million/billion and CAGR from 2016 to 2024

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Application, type, region

Regional scope

North America; Europe; Asia Pacific; Rest of the World

Key companies profiled

lbit Systems Ltd.; FLIR Systems Inc.; General Dynamics Corporation; Harris Corporation; L-3 Communications Holding Inc.; Raytheon Company; Safran SA; Thales SA; Unisys Corporation

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Frequently Asked Questions About This Report

Pricing & Purchase Options

Service Guarantee

  • Quality assurance

    Insured Buying

    This report has a service guarantee. We stand by our report quality.

  • Information security

    Confidentiality

    We are in compliance with GDPR & CCPR norms. All interactions are confidential.

  • grand view research PCI DSS complaint grand view research gdpr verified
  • Custom research service

    Custom research service

    Design an exclusive study to serve your research needs.

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert.

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities