Homeland Security Market Size To Expand at a CAGR Of 6.5% During 2022 - 2028

22 March 2022/ Research Report on Homeland Security Market.

Market Highlights

Homeland Security Market Size Is Expected To Grow at a US$ 275 Billion By 2028 & at CAGR Of 6.5% From 2022 To 2028.

Homeland security refers to countermeasures undertaken by the government of specified countries to curb terrorist attacks. Factors such as the increasing number of terrorist attacks and cyber-crimes are propelling the Homeland Security Market growth. Furthermore, activities undertaken by various governments for the upgrade of outdated infrastructure and equipment is also boosting the market growth. is also propelling the market growth. Homeland security solutions offer features such as biometrics, data analytics, and intelligence and linguistic services that assist officials in offering enhanced safety and security to the citizens. These features enable officers in receiving real-time information about potential threats and keep track of suspicious activities and people.

Key Players

The key players in the global homeland security market are Lockheed Martin Corporation (US), Honeywell International Inc. (US), Raytheon Company (US), Northrop Grumman Corporation (US), Thales Group (France), IBM (US), FLIR Systems, Inc. (US), BAE Systems (UK), General Dynamics Corporation (US), Unisys (US), Elbit Systems Ltd. (Israel), Harris Corporation (US), CACI International Inc (US), Boeing (US), and Leidos (US).

On the basis of system, the global homeland security market has been segmented into weapon system, communication system, access control system, platforms, intelligence and surveillance system, detection and monitoring system, modeling and simulation, command and control system, countermeasure system, rescue and recovery system, and others. The command and control segment is expected to account for the largest market share during the forecast period from 2018 to 2023. Features offered by command and control systems include operational control centers, aircraft mission planners, and strategic mission planning systems, which assist military commanders in decision making, support collaborative working. Therefore, the market is expected to grow significantly over the forecast period.

On the basis of end use, the global homeland security market has been classified as aviation security, maritime security, border security, cyber security, critical infrastructure security, law enforcement and information gathering, risk and emergency services, and chemical, biological, radiological, and nuclear (CBRNE) security. The law enforcement and information gathering segment is likely to witness a higher growth rate during the forecast period due to the increasing need for surveillance, and information systems by various government organizations and intelligence agencies are fueling the growth of the segment. Additionally, homeland security solutions offered by companies such as FLIR Systems, Inc. offer features and capabilities such as panoramic security camera and video management system that enable public safety officers to receive real-time updates. Hence, the segment is expected to grow over the forecast period.

Based on region, the global homeland security market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As per the report, Asia-Pacific held the largest market share and is expected to witness the highest growth over the forecast period. Factors such as increasing defense expenditures of developing economies such as China and India are boosting the market growth. Furthermore, the increasing cross-border conflicts and cybercrime is also fueling market growth. The growing demand for cybersecurity solutions from small and medium-sized (SMEs) enterprises in China is also driving the market growth in Asia-Pacific. Additionally, increased adoption of homeland security solutions by the government of countries such as India is also driving the market growth in the region. 

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