The homeland security offer products and services related to aviation security, cyber security, border security, among others to protect public and private national assets.
Global Homeland Security Market Report, published by Variant Market Research, forecast that the global market is expected to reach $479.3 billion by 2024 from $295 billion in 2016; growing at a CAGR of 6.3% from 2016 to 2024.
Factors such as, threat of cybercrime, piracy, drug trade, cross border terrorism, internal dissent, and separatist would show an attractive homeland security market trend.
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Major factors driving the growth of global homeland security market are the threat of cybercrime, piracy, drug trade, cross border terrorism, internal dissent, and separatist movements.
Increasing demand and needs for information security or data security in public and private sector organization such as energy, utilities, IT & telecom, railways, military, and others are anticipated to develop various opportunities for the homeland security market.
Type and geography are the major segments of global homeland security market. Type segment includes aviation security, border security, maritime security, CBRN security, critical infrastructure security, cyber security, mass transit security, and others.
Cyber Security accounted for the largest market share in 2016, and is expected to continue its dominance during the forecast period 2016-2024.
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Based on geography, the global homeland security market has been segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). Asia-Pacific is expected to attain the fastest CAGR of 7% during the forecast period 2016-2024.
The growth is attributed to expanding needs for cybercrime control and also due to increasing focus on security services in the region.
The major key players operating in the market are IBM Corporation, General Dynamics Corporation, L-3 Communications Holdings, Inc., Unisys Corporation, Northrop Grumman Corporation, Finmeccanica spA, Harris Corporation, Elbit Systems Ltd, Lockheed Martin Corporation, and SAIC, among others.
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Scope of the Global homeland security Market
- Aviation Security
- Maritime Security
- Critical Infrastructure security
- Cyber Security
- CBRN Security
- Mass transit Security
- Border Security
- North America
- Asia- Pacific
- South Korea
- South America
- Middle East
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