|Market Research A to Z | Company Profiles A to Z | Register | Contact Us | Shopping Basket|
|+44 (0) 203 086 8600 Call us on|
The global homeland security market has been forecast to increase at a compound annual growth rate (CAGR) of 3.55% over the next decade, increasing from a valuation of US$197.9 billion in 2012, to reach its peak of US$280.6 billion by 2022.
Key factors driving growth within the industry include internal security threats such as terrorism, illegal border infiltration, piracy, drug trafficking, cyber espionage and critical infrastructure security.
One of the primary functions of the homeland security initiatives taken by various countries includes the protection against terrorist activities, minimising the damage and recovering quickly from attacks. Currently, the major driver of the global homeland security market is the rise in terrorist activities across the world.
The wars against Afghanistan and Iraq have increased the threat of terrorist attacks against countries all across the world including the US, the UK, Israel, India, Pakistan and Indonesia. Moreover, recent years have witnessed advancement in technologies used by terrorists and this has fuelled research and development activities by various countries in an endeavour to develop effective and advanced counter measures.
The market is expected to be dominated by Asia Pacific, followed by North America and Europe. The Asia Pacific region accounts for the highest expenditure in the homeland security sector as emerging economies such as India and China execute extensive modernisation programs for their respective police forces and other security infrastructure which were neglected in the past few decades.
India, for example, is set to see its homeland security market increase at a CAGR of 35%, to be worth a total value of $16 billion by 2018.
Asia-Pacific is expected to be the largest and one of the fastest-growing markets for homeland security infrastructure and equipment, driven primarily by China's mammoth expenditure. Of all countries, China is expected to constitute the largest share of the homeland security market in the region, followed by India, Australia, Japan, South Korea, and Thailand. Moreover, China leads the global HLS expenditure with a share of 50% and is the only country which spends more on internal security than on national defence.
Companies such as; Science Applications International Corporation (SAIC), Saab, CACI, Northrop Grumman, ITT Exelis, Raytheon, BAE Systems, L-3 Communications, CSC, Smiths Detection, EADS, Thales, Elbit Systems, Lockheed Martin and General Dynamics, dominate the market.
For more information on the homeland security market, see the latest research: Homeland Security Market
Follow us on Twitter @CandMResearch
Free Research Support: Let us do the work for you and find information from public and private sources of information. Contact us now and we can save you time and money.......Free Research Support
eBrandPromote: Let us promote your brand online through article writing, press release distribution, social media and search engine marketing services. Click here to download our eBrandPromote brochure.