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.
Full research report on homeland security market : http://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.
To Get Sample Copy of Report visit
@ http://www.grandviewresearch.com/industry-analysis/homeland-security-market/request
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, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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