According to the latest report by IMARC Group, titled “Homeland Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global homeland security market size reached US$ 353.1 Billion in 2020. Homeland security assists in safeguarding a nation against illegal immigration, terrorism, smuggling, cyber frauds, and natural and human-made calamities. It relies on cameras, radars, weapons, explosives and detectors, and thermal imaging devices to identify anti-social threats. At present, there is a rise in the adoption of homeland security solutions worldwide to ensure trade and economic security, protect speech and protests, and prevent terrorizing tactics by domestic terrorists and violent extremists.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Homeland Security Market Trends:
With the increasing terrorist activities and subsequently growing concerns for cyber, maritime, aviation and border security, there is a widespread rise in the adoption of homeland security solutions across the globe. These solutions help public and private organizations in protecting their operations and preventing criminal and illegal activities. The market is further driven by the implementation of stringent government policies to minimize cross-border insurgencies. Apart from this, there is an increase in the deployment of homeland security forces to control riots, political unrest, and domestic tensions, which, in turn, is fueling the market growth. Furthermore, numerous players are introducing technologically advanced weapons and security solutions, which are integrated with machine learning (ML), cloud, and the Internet of Things (IoT) for identifying threats and taking actions timely. This, in confluence with the extensive research and development (R&D) activities, is anticipated to contribute to the market growth. Looking forward, the market value is projected to reach US$ 503.2 Billion by 2026, expanding at a CAGR of 6.1% during the forecast period (2021-2026).
- Based on the type, the market has been segmented into aviation, maritime, border, critical infrastructure, cyber, CBRN, mass transit security, and others.
- On the basis of the system, the market has been divided into intelligence and surveillance system, detection and monitoring system, weapon system, access control system, modeling and simulation, communication system, rescue and recovery system, command and control system, countermeasure system, platforms, and others.
- Based on the end user, the market has been bifurcated into the public and private sector.
- Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Accenture PLC, The Boeing Company, Booz Allen Hamilton Inc., General Dynamics Corporation, The General Electric Company, International Business Machines (IBM) Corporation, L3Harris Technologies, Inc., Lockheed Martin Corporation, SAIC Motor Corporation Limited, and Unisys Corporation.
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