Homeland Security Market Research Reports, Analysis & Trends
Homeland security industry comprises companies that operate by providing security services in terms of different areas, and it is mostly a generic term that encompasses areas from aviation, mass transit, marine, IT and cyber security, CBRN and border security. The global homeland security market across the next five years, is expected to grow at a rapid pace, and the factors driving the market and the challenges faced by the industry are somewhat limited to smaller size in comparison as the current scenario is such that the homeland security are some of the organizations that firms seek majorly for protection and to provide utmost security. Across the globe, the major countries that are either developed or are developing have been heavily investing in analysis of the market size by its region and also accumulating data on the spending patterns by sub-sector for each region. In addition, the competition in this industry is very high given the budget and market size for all the players to sustain, the bigger the player the better is the chances of survival in this industry and in the market.
The global homeland security market is estimated to reach $415.53 billion by the end of 2013 and with CAGR 5.54% for the five year period, this industry is expected to reach $544.02 billion by the end of 2018. The threat of cross border terrorism, cyber crime, piracy, drug trade, human trafficking, internal dissent, separatist movements has been a driving factor for the homeland security sector. The sector is highly competitive with a host of industry participants vying for contracts and the tightening financial situation in most western countries is expected to increase competition. Budget cuts in most of the western countries are anticipated to have minimal impact on this market; however, spending on cyber security, surveillance systems, IT and communications systems is set to increase. The industry is fragmented and most of the tier-1 players are from US and Europe. These firms have the required know-how and technology and have an active presence across the globe thus making the major share holders in this growing market. Increase in merger and acquisition, technology transfer, joint development and production and partnerships and offset agreements between western and other developing nations are anticipated.
Homeland Security Current Trends
According to MarketLine, the global security services market exceeded $174 billion in 2010. Market growth is expected to accelerate to exceed a yearly rate of 4.5% between 2010 and 2015 to reach almost $220 billion. The security services industry refers to the electronic, managed and outsourced personnel security solutions. According to Freedonia, security services demand is being fueled by an increasing rate of urbanization, a growing middle class owning assets they wish to protect, a lack of faith in public safety measures and fear of terrorism and crime. Developed nations will record the strongest market growth, fueled by foreign investment, economic recovery following the economic crisis, unreliability or overloading of public security services and higher personal incomes.
Homeland Security Research is expecting that the global x-ray security screening industry, covering systems sales, upgrades and service, will exceed 10% yearly growth through 2016 to reach almost $2 billion, up from $1 billion in 2010. The market’s cost-performance is challenged by a lack of competitive modality in the industry. Market expansion will be led by China, the US and India. The global security services industry continues to grow across various sectors. An expanding middle class will continue to fuel demand for private sector security services, while developed countries will pay increasing attention to data protection at government level. The financial and defense sectors in particular will avail of security in the face of mounting cyber attacks and more sophisticated hacker activity. As the nature of security threats becomes more complex, the industry will have to concentrate on streamlining operations and making more effective use of technological tools.
Major Homeland Security Players
Major players in the homeland security industry include Hewlett-Packard, IBM, BT Global Services, Dell Inc, Lockheed Martin, Siemens, Security Consultants Group, Booz Allen Hamilton Inc, and Symantec