Homeland Security and Emergency Management Market by Solution (Intelligence and Surveillance System, Detection and Monitoring System, Weapon System, Access Control System, Modeling and Simulation, Communication System, and Others), End Use (Cyber Security, Aviation Security, Maritime Security, Law Enforcement and Intelligence Gathering, Critical Infrastructure Security, Border Security, and Others): Global Market Size Estimates and Forecast (2019-2030)
The market is expected to cross US$ 188.99 billion in 2022 and is projected to hit US$ 352.84 billion by 2030, recording a CAGR of 8.1% during the forecast period.
Rise in Strategic Initiatives by Global Players to Driving the Market Growth
Homeland security plays a crucial role in ensuring the safety of both the private and public sectors of nations. Thus, the rise in spending by state and regional government bodies to procure and indicate security solutions is influencing the global homeland security market players to undertake various strategic initiatives such as new product development, strategic partnerships, and mergers & acquisitions. For instance, IBM has engaged itself in the acquisition of various cyber security and threat detection solution providers to enhance its product portfolio. In November 2021, the company acquired ReaQta to integrate its automated technology for identifying and managing threats. Similarly, in June 2022, the company acquired Randori, which provides attack surface management and offensive cyber security solutions. Similarly, in December 2021, Leidos announced its contract with the US Department of Homeland Security (DHS) Cybersecurity and Infrastructure Security Agency (CISA) for the Priority Services Scientific, Engineering, and Technical Assistance (PS-SETA). Such initiatives are driving the homeland security and emergency management market growth.
The European countries such as Belgium, France, Germany, Italy, Spain, and the UK do not have any agency overlooking the homeland security department of the countries like that in the US. Several departments are responsible for different aspects of homeland security to ensure safety across nations. This requires different budget proposals and high coordination between the teams during an emergency, thereby increasing the cost of homeland security. Additionally, developing, and underdeveloped nations have a low budget for homeland security. Countries such as Bangladesh, Sri Lanka, and Africa are economically backward countries focusing on improving the standard of living of their population and have a low budget for homeland security and emergency management expenditures. These factors are contributing to the low adoption rate of security solutions, thereby restraining the growth of the homeland security and emergency management market.
Within the report, the market is segmented into system, technology, platform, end use, and geography. By system, the market is segmented into reconnaissance system, targeting system, search and track system, surveillance system, and countermeasure system. Based on technology, the market is bifurcated into multispectral and hyperspectral. Based on platform, the market is segmented into fixed wing, rotary wing, and unmanned aerial vehicles (UAVs). Based on end use, the market is bifurcated into commercial and military. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Increase in Number of Airports and Passenger Traffic Worldwide to Provide Future Opportunities for Market Vendors During the Forecast Period.
The growing number of airports and air passenger traffic globally is influencing the demand for aviation security solutions. According to International Civil Aviation Organization (ICAO), the number of air passengers traveling between January to April 2022 showcased an increase of 65% compared to the same period in 2021. The total flight departures also increased by 30% across the globe. The rise in air traffic is directly influencing the need for more efficient aviation security solutions to ensure safety across all airports. Moreover, stringent government regulations on airport security to ensure proper checks of all individuals entering and leaving the nation are also enhancing the demand for aviation security solutions.
Rise in Severe Cyberattacks is Boosting Homeland Security and Emergency Management Market Growth.
Rise in Severe Cyberattacks to Driving the Market Growth. Developing and developed nations have experienced a rise in cyber-attacks over the years. The adoption of digitalization across all industries and commercial sectors across the globe has resulted in organizations adopting cloud storage solutions, which have led to the easy availability of important business documents on the internet. This has influenced the rise in cyber-attacks across the globe. For instance, in May 2021, the colonial pipeline, which is the largest fuel pipeline in the US, faced a cyber-attack that disrupted fuel supplies to 12 US states for several days. This attack made the company shut down its entire operations for damage control and to stop further severity. The rise in cyberattacks is putting various important documents of private and public enterprises at risk. The loss of such information to illegal hacking groups is imposing severe losses on the enterprises and impacting the nations' economies. Thus, the rise in cyber-attacks across the globe is influencing both public and private sectors to invest in the integration of advanced cyber security solutions. The regional government bodies are increasingly investing in security solutions. For instance, the US state and federal funding for cyber security is experiencing a rise over the years. The federal agency in November 2021 announced a budget of US$ 1 billion to enhance the local, tribal, state, and territorial government cyber security. These factors are thereby driving the homeland security and emergency management market.
Recent Strategic Developments in Homeland Security and Emergency Management Market
The homeland security and emergency management market has undergone several significant developments, and a few of these have been mentioned below:
- In November 2021, the US Department of Homeland Security (DHS) awarded a contract to North-eastern University worth US$ 36 million to develop surveillance systems for protecting the country's schools, churches, and stadiums in November 2021.
- In July 2022, Swish Data Corporation (Swish) received a contract from the Department of Homeland Security (DHS) Continuous Diagnostics and Mitigations (CDM) program to supply advanced security information and event management (SIEM) to the US Coast Guard department.
- In May 2021, AT&T received a homeland security contract from the US Department of Homeland Security to upgrade the nation's telecommunication infrastructure and IP-based networking services.
The homeland security and emergency management market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Elbit Systems Ltd., Teledyne FLIR LLC, General Dynamics Information Technology Inc., IBM, Leidos, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, Thales Group, and ECA Group are among the prominent players operating in the market.
Target audience for the report:
- Intelligence and Surveillance System Manufacturers
- Detection and Monitoring System Manufacturers
- Weapon System Manufacturers
- Access Control System Manufacturers
- Modeling and Simulation Manufacturers
- Communication System Manufacturers
- Government, emergency management, and homeland security related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Solution:
- Intelligence and Surveillance System
- Detection and Monitoring System
- Weapon System
- Access Control System
- Modeling and Simulation
- Communication System
- Others
- End Use:
- Cyber Security
- Aviation Security
- Maritime Security
- Law Enforcement and Intelligence Gathering
- Critical Infrastructure Security
- Border Security
- Others
- Region
- North America
- US
- Canada
- Mexico
- Europe
- Asia Pacific (APAC)
- Middle East & Africa
- South America
- North America
- Companies profiled
- Elbit Systems Ltd.
- Teledyne FLIR LLC
- General Dynamics Information Technology Inc.
- IBM
- Leidos
Companies profiled
- Elbit Systems Ltd.
- Teledyne FLIR LLC
- General Dynamics Information Technology Inc.
- IBM
- Leidos