Homeland security are the plans and initiatives taken by the government to safeguard the country from various types of threats. Sectors such as aviation, mass transit, marine, threat of terrorist and other illegal activities (such as drug trafficking, human trafficking among others) fall under the homeland security.
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Since it is important for the safety of a nation, taking care of homeland security is one of the prime concerns t for any government. The threat of terrorism all around the world, demand for tough patrolling on border and human trafficking has led to a rise in the market for homeland security.
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The increasing cyber-attacks apart from other physical threats is a new add to the market for homeland security. As a result of advancement in internet technology, hacking has increased, leading to increase in threats of cyber-attacks.
Failure to limit a cyber-attack may pose significant threat to any nation, as it could lead to leakage of confidential information for illicit purposes.
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Government initiatives to diminish cross border insurgency and terrorist activities has increased the market for homeland securities. Also, surging cases of drug smuggling, illegal immigration and human trafficking is forcing the government to invest into homeland security products creating a growth for global homeland securities market.
Along with this, the increase in demand for solutions and products to handle the risk of cyber-attacks also adds to the demand for the homeland securities market. Furthermore, the growth is also influenced by the use of unmanned aerial vehicles (UAVs) for border surveillance by armed forces.
North America dominates the market for homeland securities due to advancement of technology and vast expenditure in defense. Replacement of traditional equipment of homeland securities is also a reason of growth for homeland security market.
Asia Pacific being the second leading market for homeland security. Some of the challenges faced by the homeland security market is lack of controlled measures, lack of awareness, slow adoption and unskilled workforce.
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Homeland security market is bifurcated by security type that includes border security, mass transit security, cyber security, critical infrastructure security, aviation security, CBRN security and maritime security among others. The segmentation is also based on the basis of end users that includes public sector and private sector.
The homeland security market is further segmented on the basis of regions into North America, Europe, Asia Pacific, South America and Middle East & Africa.
Some of the chief players in the market are Elbit Systems, Accenture, Boeing Bruker, L-3 Communications Holdings Inc., Textron Marine & Land Systems, General Atomics Aeronautical Systems, Unisys Corporation, GE Aviation, IBM, Booz Allen Hamilton, Safran S.A., AeroVironment Inc., General Dynamics Corporation, OSI Systems, Inc, Thales Group, Unisys Corporation, Magal Security Systems Ltd., Harris Corporation, Finmeccanica S.p.A, FLIR Systems, Inc., Raytheon Company and DRS Technologies.
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