PUBLISHER: Grand View Research | PRODUCT CODE: 1405053
PUBLISHER: Grand View Research | PRODUCT CODE: 1405053
The global homeland security market size is expected to reach USD 868.65 billion by 2030 , registering a CAGR of 5.8% from 2023 to 2030, 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 segment 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 providers 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.