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(Transportation-News.com, December 10, 2019 ) The homeland security and emergency management market is projected to grow from an estimated USD 557.14 billion in 2018 to USD 742.06 billion by 2023, at a CAGR of 5.90% from 2018 to 2023.
Increasing terrorist threats and biohazard attacks and occurrence of unpredictable natural disasters due to ever-changing climatic conditions worldwide are key factors driving the growth of the homeland security and emergency management market.
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The law enforcement and intelligence gathering segment is expected to lead the homeland security and emergency management market during the forecast period
Based on end use, the homeland security and emergency management market has been segmented into law enforcement and intelligence gathering, risk and emergency services, border security, maritime security, aviation security, cyber security, critical infrastructure security, and CBRNE security. The law enforcement and intelligence gathering segment is expected to lead the homeland security and emergency management market from 2017 to 2023 due to the increase in zero-day attacks that harm organizations’ critical assets. Law enforcement agencies enforce laws by detecting, deterring, rehabilitating, or punishing people violating the rules and norms governing a country. Agencies engage in patrol or surveillance to dissuade and detect criminal activity.
The intelligence and surveillance segment is expected to lead the homeland security and emergency management market during the forecast period
Based on systems, the homeland security and emergency management market has been segmented into intelligence and surveillance system, detection and monitoring system, weapon system, access control system, and platforms, among others. The intelligence and surveillance segment is expected to lead the homeland security and emergency management by system market. Increasing global threats have forced governments to employ high levels of security at borders, airports, public institutions, ports, and transportation systems. Intelligence and surveillance systems help detect, track, and recognize unauthorized intruders, namely, terrorists, illegal immigrants, and smugglers, who can endanger the lives of citizens.
The Asia Pacific region is projected to hold high growth potential for homeland security and emergency management during the forecast period.
The Asia Pacific region is estimated to lead the homeland security and emergency management market in 2018 as there is a high trend towards an increase in security spending, owing to the ever-growing threats. In recent years, the Asia Pacific region has undergone significant economic growth, political transformations, and social changes.
Major players in the homeland security and emergency management market are Lockheed Martin (US), Raytheon Company(US), Northrop Grumman(US), Thales Group(France), IBM(SU), FLIR Systems(US), BAE Systems(UK), General Dynamics(US), Unisys(US), Elbit Systems(Israel), SAIC(US), Harris Corporation(US), Boeing(US), Leidos(US), CACI International (US) and Honeywell International(US) among others.
Study Coverage
The report on the homeland security and emergency management market provides an analysis of the market from 2018 to 2023. It discusses industry and technology trends currently prevailing in the market, along with the drivers, restraints, challenges, and opportunities that influence the growth of the market. This study also includes an in-depth competitive analysis of the key players operating in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Additional Customization Available
• Global analysis of the homeland security and emergency management market, by vertical, end use, and system.
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