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%
NEW YORK, May 31, 2018 /PRNewswire/ -- Increasing political dissent and separatist movements across the world are major factors that drive the growth of the homeland security and emergency management market
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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% during the forecast period. Many separatist movements across the world are still very active and armed, creating hazardous situations for nations where these are taking place. Countries in the Middle East, Europe, and the Asia Pacific are increasingly facing separatist movements. Governments are spending millions of dollars to equip their homeland security and emergency management personnel. Slow adoption of homeland security solutions and lack of proactive measures is one of the key restraints to the growth of the homeland security and emergency management market.
Based on end use, 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 2018 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.
Among all regions, the Asia Pacific is expected to lead the homeland security and emergency management market 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.
Due to the increasing sophistication levels of the threats, countries such as China, India, Japan, and Singapore have updated or launched new national cyber security policies.China is considered to be a major market for homeland security and emergency management in this region.
For instance, in February 2018, China's Xinjiang Uyghur Autonomous Region (XUAR) revealed a 92.8 % increase in its domestic security spending from USD 4.76 billion in 2016 to USD 9.19 billion in 2017.
Breakup of the profile of primary participants for the homeland security and emergency management market:
• By Company Type - Tier 1 – 35 %, Tier 2 – 45%, and Tier 3 – 20%
• By Designation – C Level – 35%, Director Level – 25%, and Others – 40%
• By Region – North America - 45%, Europe – 20%, Asia Pacific – 30%, and RoW – 5%
Key companies profiled in this report include include Lockheed Martin (US), Raytheon (US), Northrop Grumman (US), IBM (US), Elbit Systems (Israel), BAE Systems (UK), Thales Group (France), FLIR Systems (US), Unisys Corporation (US), SAIC (US), Leidos (US), Harris Corporation (US), General Dynamics (US), CACI International (US), Hewlett-Packard (US), Booz Allen Hamilton (US), and Boeing (US).
Research Coverage:
This report presents a comprehensive overview of the homeland security and emergency management market during the forecast period. The homeland security and emergency management market has been segmented on the basis of vertical (homeland security, emergency management), end use (law enforcement and intelligence gathering, risk and emergency services, border security, maritime security, aviation security, cyber security, critical infrastructure security, CBRNE security), system (intelligence and surveillance system, detection and monitoring system, weapon system, access control system, modeling and simulation, communication system, platform, rescue and recovery system, command and control system, countermeasure system, others), and region.
Reasons to buy the report:
From an insight perspective, this research report has focused on various levels of analyses—industry analysis, rank analysis of top players, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the homeland security and emergency management market, high-growth regions, as well as countries and their respective regulatory policies, government initiatives, and market drivers, restraints, and opportunities.
The report provides insights into the following pointers:
• Market Penetration: Comprehensive information on the homeland security and emergency management market offered by the top 19 players
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the homeland security and emergency management market
• Market Development: Comprehensive information about lucrative emerging markets - the report analyses the markets for homeland security and emergency management across various regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the homeland security and emergency management market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing and solution providers, and capabilities of leading players in the homeland security and emergency management market
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