PUBLISHER: The Business Research Company | PRODUCT CODE: 1409489
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409489
“Homeland Security Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on homeland security market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for homeland security? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The homeland security market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Homeland security refers to a program that focuses on the recovery from and mitigation of all emergencies and disasters. The primary goal of the homeland security program is to prepare people to respond effectively in the event of local, statewide, or national disasters and emergencies.
The main types of homeland security include border security, aviation security, maritime security, critical infrastructure security, cybersecurity, mass transport security, law enforcement, CBRN (chemical, biological, radiological, and nuclear) security, and others. Border security involves the measures a government takes to manage and monitor its boundaries, regulating the movement of people, animals, and goods across a country's borders. The technologies involved encompass recognition and surveillance systems, AI-based solutions, security platforms, and others, utilized by both the public and private sectors.
The homeland security market research report is one of a series of new reports from The Business Research Company that provides homeland security market statistics, including homeland security industry global market size, regional shares, competitors with a homeland security market share, detailed homeland security market segments, market trends and opportunities, and any further data you may need to thrive in the homeland security industry. This homeland security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The homeland security market size has grown strongly in recent years. It will grow from $483.21 billion in 2023 to $521.18 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth observed during the historical period can be attributed to various factors, including terrorist threats, concerns related to cybersecurity, initiatives in border security, responses to natural disasters, geopolitical tensions, and government investments in infrastructure.
The homeland security market size is expected to see strong growth in the next few years. It will grow to $696.8 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The anticipated growth in the forecast period can be attributed to factors such as global health security, the impact of climate change, international collaboration efforts, the protection of critical infrastructure, considerations of data privacy and ethics, and concerns related to political and social instability. Key trends expected in the forecast period include the increasing dominance of cybersecurity, integration of artificial intelligence (AI) and machine learning, the adoption of biometric technologies, upgrades in border security, and the promotion of public-private partnerships.
The anticipated increase in terrorist attacks is set to drive the growth of the homeland security market. Homeland security, encompassing collective efforts to ensure the safety and resilience of the homeland against terrorism, is expected to expand globally due to the rising threat of terrorist activities. As per the 2023 'Global Terrorism Index' report, terrorist attacks became deadlier in 2022, with an average of 1.7 people killed per attack, compared to 1.3 deaths per attack in 2021. This data underscores the destructive impact of terrorism on both people and the economy, emphasizing the necessity for widespread implementation of homeland security measures. Therefore, the escalating threat of terrorist activities is poised to fuel the homeland security market's growth.
The homeland security market is projected to receive support from the rapid growth in defense spending during the forecast period. Defense expenditure, representing the total government spending on military forces and activities, is directed towards enhancing capabilities, including border surveillance, critical infrastructure protection, and advanced technologies for threat detection and response. The increased emphasis on military readiness and protection against evolving security threats is expected to propel the homeland security market. For example, the Ministry of Defence (MOD) departmental resources 2022, published by gov.UK in December 2022, reported a defense spending increase for 2021-2022, reaching $76.25 billion (71.4 Euros), a $46.88 billion (43.9 euros) rise from the previous year. Consequently, the surge in defense expenditure is a driving force behind the market's growth.
A prominent trend in the homeland security market is the adoption of technological advancements. Major market players are actively engaged in developing new technological solutions to fortify their market position. In July 2022, Elbit Systems, an Israel-based company operating in homeland security, introduced a helicopter vision suite integrating fifth-generation aircraft technology for military helicopters. This suite includes a sophisticated sensor array, an Artificial Intelligence (AI)-powered mission computer, and a unique Helmet Mounted Display (HMD) system, providing real-time, clear, wide-field visibility in challenging weather and visibility conditions.
Leading players in the homeland security market are directing their focus towards leveraging artificial intelligence (AI) to enhance security. AI applications in homeland security encompass threat detection, predictive analytics, and decision support, allowing for the analysis of extensive datasets and overall improvement in security effectiveness. In April 2023, the Department of Homeland Security (DHS) in the United States established a task force dedicated to artificial intelligence (AI) and initiated a 90-day sprint to address threats from the People's Republic of China (PRC). The AI task group is aimed at assisting DHS in navigating the security implications of rapidly advancing AI technology, focusing on applications to enhance critical homeland security missions.
In April 2021, Elbit Systems Ltd., an Israel-based international defense electronics company, acquired BAE Systems Rokar International Ltd. for USD 31 million. This acquisition is expected to contribute to Elbit Systems Ltd.'s portfolio expansion and the enhancement of existing platforms in defense, homeland security, and commercial applications. BAE Systems Rokar International Ltd., based in Israel, specializes in the design, production, integration, and maintenance of modern GPS receivers and guiding systems for defense applications and homeland security.
Major companies operating in the homeland security market report are General Dynamics Corporation, L3Harris Technologies Inc., Leonardo S.p.A., Northrop Grumman Corporation, Thales Group, Unisys Corporation, FLIR Systems Inc., Raytheon Company, Leidos Holdings Inc., Boeing Company, Rafael Advanced Defense Systems Ltd., Elta Systems Ltd., Accenture plc, Lockheed Martin Corporation, BAE Systems plc, Elbit Systems ltd., Inter-Con Security Systems Inc., NetCentrics Corporation, Stealth Power, Adams Communication & Engineering Technology, ZeroEyes Inc., Evolv Technology, Uveye Inc., Red Balloon Security Inc., Aptima Inc., VideoRay LLC, Alphacore Inc., City Labs Inc., Fujitsu Limited, FJC Security Services Inc
North America was the largest region in the homeland security market in 2023. The regions covered in the homeland security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the homeland security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The homeland security market includes revenues earned by entities by providing aviation security, border control, emergency response and cybersecurity. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.