USD 0.57 trillion
Report ID:
SQMIG45J2122 |
Region:
Global |
Published Date: September, 2024
Pages:
197
|Tables:
101
|Figures:
80
Homeland Security Market size was valued at USD 628.86 Billion in 2023 and is poised to grow from USD 685.46 Billion in 2024 to USD 1084.3 Billion by 2032, growing at a CAGR of 9.00% during the forecast period (2025-2032).
The primary driver fueling the growth of the homeland security market in the projected period of 2022-2029 is the rise in cyberattack threats against the information and technology industries and recent significant damages. In addition, it is anticipated that increasing instances of terrorist attacks, border conflicts, illegal immigration, smuggling, human trafficking, and the occurrence of multiple natural disasters would propel the expansion of the homeland security market from 2022 to 2029. The homeland security market, however, is constrained in the forecast period of 2022–2029 by expensive goods and services. The market will be hampered in the forecast period of 2022-2029 by national financial crises. However, during the period covered by the forecast, the growth of the homeland security market would be hampered by the lack of trained labor in developing nations.
Demand is anticipated to increase as a result of terrorist threats and a number of government attempts to contain growing cross-border insurgency. Additionally, rising drug trafficking, human trafficking, and illegal immigration are pressuring governments in numerous nations to make significant investments in the acquisition of homeland security systems. The market category that is expected to grow the fastest is cybersecurity. Regions like North America and Europe, which are investing heavily in cyber defenses and so propelling the homeland security market, might be blamed for this growth.
Three scenarios—realistic, upbeat, and pessimistic—have all been used to analyze the COVID-19 impact. For future calculations, the realistic scenario has been taken into account. The production of complex sensors and associated component lines has been somewhat hampered. However, the issue of multiple product development contracts between January 2020 and July 2020 has led to ongoing demand for surveillance and information collecting systems in homeland security and disaster management.
Demand is anticipated to increase as a result of terrorist threats and a number of government attempts to contain growing cross-border insurgency. Additionally, rising drug trafficking, human trafficking, and illegal immigration are pressuring governments in numerous nations to make significant investments in the acquisition of homeland security systems. The market category that is expected to grow the fastest is cybersecurity. Regions like North America and Europe, which are investing heavily in cyber defenses and so propelling the homeland security market, might be blamed for this growth.
Three scenarios—realistic, upbeat, and pessimistic—have all been used to analyze the COVID-19 impact. For future calculations, the realistic scenario has been taken into account. The production of complex sensors and associated component lines has been somewhat hampered. However, the issue of multiple product development contracts between January 2020 and July 2020 has led to ongoing demand for surveillance and information collecting systems in homeland security and disaster management.
Many nations, notably the US and China, have cut back on their budgetary allotments for disaster management and homeland security while shifting some cash for pandemic preparedness. Additionally, there is a significant impact on both the demand and supply sides of the supply chain, which causes delays or cancellations in order fulfillment.
Advanced technologies like cloud computing, social media, and next-generation mobile computing are fundamentally transforming how organizations leverage information technology for information sharing and online operations. Unmanned aircraft systems (UAS) are increasingly used in national safety missions worldwide. As unmanned systems become more affordable, proficient, and easier to operate, the industry is poised for significant growth. This growth is driven by the rising demand for security solutions and equipment across various sectors, including maritime, aviation, and border and cyber security.
The proliferation of social networking and advancements in information technology bring numerous benefits to both living and working environments. However, these advantages also pose challenges, creating various cyber exploitation threats. Advances in Cyber Security compile the expertise of cyber security professionals from academia, government, and industry, both nationally and internationally, to develop strategies that protect and sustain the cyberspace ecosystem.
The proliferation of social networking and advancements in information technology bring numerous benefits to both living and working environments. However, these advantages also pose challenges, creating various cyber exploitation threats. Advances in Cyber Security compile the expertise of cyber security professionals from academia, government, and industry, both nationally and internationally, to develop strategies that protect and sustain the cyberspace ecosystem.
Global Market Size
USD 0.57 trillion
Largest Segment
Public Sector
Fastest Growth
Private sector
Growth Rate
9.00% CAGR
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The homeland security market is segmented based on type, end-user, technology, and region. Based on type, the market is segmented into border security, aviation security, maritime security, critical infrastructure security, cyber security, mass transport security, law enforcement, CBRN security, and others. Based on end-user, the market is segmented into public sector and private sector. By technology, the market is segmented into recognition and surveillance systems, AI-based solutions, security platforms, and others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Homeland Security Market Analysis by Type
The border security category dominates the Homeland Security market. This is due to the increasing prevalence of unlawful cross-country smuggling of commodities that are outlawed in many countries around the world, which has increased border security.
The fastest-growing segment of global Homeland Security is cybersecurity. The development of several cyber security programs by international organizations for continuously lowering the risk placed on aviation systems by cyber-attacks is responsible for the anticipated large expansion of the aviation security segment soon. Industry pioneers and international groups are working together to create innovative programs and solutions. This is then anticipated to promote the segment's growth.
Homeland Security Market Analysis by End-User
The Public Sector dominated the market for Homeland Security. Government organizations and the defense departments of many nations are predicted to adopt more homeland security goods and services, which will lead to the public sector dominating the global market. The technologies, goods, and services utilized by the public sector to safeguard people and property include antivirus software, naval systems, fighter jets, and surveillance and security equipment. This segment's growth is probably going to be supported by the increasing usage of these systems.
The Private sector is the fastest-growing segment of the global Homeland Security market. Due to the expanding use of a variety of homeland security products by several private companies, including the use of maritime security services by private shipping companies and security systems for oil and gas pipeline production by the oil and gas industry to ward off damage, theft, and terrorist attacks.
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North America dominated global homeland security market. As a result of the numerous military modernization and improvement programs planned in the region, North America is among the regions expected to experience significant growth. Additionally, it is anticipated that increased investments by the nations in this region to strengthen national security against a variety of threats will encourage the development of advanced instruments in the region.
Asia-Pacific is the fastest-growing region in the global Homeland Security market. This is brought on by an increase in the rate of police force modernization, an increase in yearly budgetary spending on homeland security, and a rise in the number of terrorist incidents in the area. Better maritime security is becoming more and more in demand throughout the area from nations like Japan, Sri Lanka, India, and Bangladesh. Additionally, regional governments' efforts to improve public and property safety are anticipated to support the expansion of the worldwide homeland security market in the Asia Pacific region in the foreseeable future.
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Homeland Security Market Drivers
Increasing government efforts to preserve the country from civil wars and cross-border conflicts
Increasing instances of smuggling and trafficking around the world to propel the market
Homeland Security Market Restraints
Action plans for disaster management are given little priority
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The market for homeland security on a worldwide scale is very competitive. This is related to the continual R&D activities and launches of new technologies by value chain participants. Additionally, major businesses are implementing a variety of corporate expansion methods in order to increase their footprint on a regional and international scale.
Homeland Security Market Top Player’s Company Profiles
Homeland Security Market Recent Developments
In October 2022, International Business Machine Corporation announced the expansion of its cyber security Centre footprint as it opened a cutting-edge cyber security facility aimed at assisting federal agencies in addressing present and potential cyber security threats.
In October 2022, L3Harris Technologies, Inc. unveiled the RF-7850D, the world's smallest multi-channel, multi-mission vehicle radio at the international defense expo & conference.
According to the Congressional Research Service Report of July 2022, More than 95 countries reportedly operated some unmanned military aircraft in 2021. The most advanced UAS are built in the United States. Iran, Israel, China, and Turkey, however, have shown rising degrees of competence in their approaches to unmanned technologies in recent years, with Iranian, Chinese, and Turkish UAS playing a notable role in recent military actions.
In March 2022, Teledyne FLIR Defense, a subsidiary of Teledyne Technologies Incorporated announced launch of Lightweight Vehicle Surveillance System (LVSS) with innovative air domain awareness (ADA) and expanded counter-unmanned aerial system (C-UAS) features. LVSS ADA C-UAS is a better version of Teledyne FLIR's field-proven LVSS structure, including dependable, easy deployment, and cutting-edge technology to detect and defeat the growing threat of micro drones.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Homeland Security market analyses, the market growth is driven by increased government spending on Homeland Security, rising threats of terrorism, and cyber-attacks, and growing demand for advanced security solutions to protect critical infrastructure. However, the market faces challenges such as high installation costs of security systems, privacy concerns, and the lack of skilled professionals.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 576.94 Billion |
Market size value in 2031 | USD 994.77 Billion |
Growth Rate | 9.00% |
Base year | 2023 |
Forecast period | 2024–2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Homeland Security Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Homeland Security Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Homeland Security Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Homeland Security Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG45J2122
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