0

Homeland Security Market Expected to Reach $898.2 Billion by 2032—Allied Market Research

 
2022
Homeland Security Market

Report Code : A01380

quote By type, the cyber security segment dominated the global market in 2022, in terms of revenue. The cyber security segment is expected to lead the homeland security market throughout the forecast period. By end user, the public sector segment accounted for a major share in 2022. Based on technology, the AI-based solutions segment is anticipated to witness lucrative growth over the forecast timeframe. At present, North America is the highest revenue contributor, followed by Europe. quote

Shantanu Barad - Lead Analyst
Aerospace and Defense at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a recent report published by Allied Market Research, titled, “Homeland Security Market by Component, End-User, and Technology: Global Opportunity Analysis and Industry Forecast, 2023–2032,” the global homeland security industry was valued at $531.40 billion in 2022, and is estimated to garner $898.20 billion by 2032, registering a CAGR of 5.6% from 2023 to 2032.

Border security remains an important policy area as nations aim to regulate immigration and combat cross-border crimes. Emerging technologies like sensors and analytics may aid authorized monitoring at official ports of entry. Any border security measures should uphold international laws, treat all people with dignity, and balance enhanced enforcement with pathways for lawful entry. The report could explore security solutions that align with ethical values of justice, compassion and shared responsibility.

Moreover, home security solution providers received contracts from government agencies to improve border security. For instance, in September 2023, Customs and Border Protection (CBP) granted contracts to three companies to supply new and improved surveillance towers, enhancing border security. The awarded companies are Advanced Technology Systems Company (ATSC), General Dynamics Corporation, and Elbit Systems Ltd. The contracts, known as Integrated Surveillance Towers (IST) Consolidated Tower & Surveillance Equipment (CTSE) awards, involve the provision of medium- and long-range surveillance towers with various subsystems and sensors. These enhancements aim to enable U.S. Border Patrol agents to consistently detect, identify, classify, and track items of interest for border security. Such developments further support the growth of the segment.

In addition, European countries have collaborated with technology solutions providers to further improve national security. For instance, in February 2022, Europe Airbus and the Organization for Joint Armament Co-operation (OCCAR) signed the Eurodrone global contract. This contract covers the development and manufacturing of 20 systems and five years of initial in-service support. OCCAR signed the contract on behalf of the four launch nations Germany, France, Italy, and Spain. Eurodrone is a Medium Altitude Long Endurance (MALE) Remotely Piloted Aircraft System (RPAS) designed for Intelligence, Surveillance, Target Acquisition, and Reconnaissance (ISTAR) missions and homeland security operations.

Moreover, Maritime security threats like piracy and smuggling compel investments in authorized monitoring and deterrence technologies that align with international maritime laws. Sensors and autonomous vehicles may aid safety and domain awareness if developed transparently and deployed accountably by democratic institutions.

Also, bilateral agreements on issues like illegal fishing illustrate that maritime security involves complex economic, environmental and geopolitical factors. Balanced policy discussions could explore multi-stakeholder solutions that empower coastal communities, promote sustainable fisheries, and foster regional stability. Therefore, surge in threats in maritime, coupled with government collaboration, fuel growth of homeland security market.

The rapid proliferation of smart city projects across municipalities globally has emerged as a key prospect area for homeland security solution providers to cater to the enlarged security and public safety requirements of modernizing urban zones. Smart cities ambition to deploy sensors, Internet-of-Things (IoT) connectivity, big data, and analytics to enhance livability, sustainability and efficiencies of civic operations including law enforcement and emergency response through hyper-connected capabilities. This necessitates robust cybersecurity protocols be installed.

For instance, pervasive deployment of surveillance cameras, gunshot detectors require backhaul capacity upgrades, data centers investments and video analytics software adoption by public safety agencies as part of bridging security infrastructure to support such expansive monitored coverage. Hence as more mid-sized cities embrace smart city concept, significant market scope gets generated for homeland security vendors to provide complementary security and integrity protection software, identity management as well as managed security services essential for smooth smart cities functioning without vulnerabilities.

Managed security services are gaining traction as they continuously track threats across the expanded government digital attack surface, spanning public safety agencies to utilities and transportation providers. The rise of ransomware and nation state threats underscores the necessity for proactive cyber surveillance. The shortage of in-house staffing further emphasizes the reliance on outsourced 24/7 specialized monitoring to ensure comprehensive coverage. The automation of response workflows through security orchestration tools further provides opportunities for companies to expand their presence. This automation enhances the efficiency and effectiveness of cybersecurity measures in the face of evolving threats.

In addition, increasing global threats from terrorist organizations is a major driving factor of this market segment. Developing effective emergency response plans and protective equipment is vital for responsible preparedness against various threats. The threat of CBRN incidents necessitates specialized security measures. The market observes an increased investment in detection and decontamination technologies.

The development of robust emergency response protocols and the adoption of protective equipment contribute to addressing the challenges posed by CBRN threats. Growing government expenditure on creating defenses and countermeasures against chemical, biological, radiological, and nuclear (CBRN) threats drive growth of CBRN Security.

Impact of Russia-Ukraine war in homeland security industry

On February 24, 2022, Russia commenced an invasion of Ukraine, escalating the long-standing Russo-Ukrainian War that began in 2014. This event has the capacity to disrupt global economies, impacting investor confidence and financial markets. The Russia-Ukraine conflict has understandably heightened border security concerns for European countries. Any policy responses should balance defense needs with diplomacy and human rights.

KEY FINDINGS OF THE STUDY

  • By type, the cyber security segment is anticipated to exhibit significant growth in the near future.
  • By end user, the private sector segment is anticipated to exhibit significant growth in the near future.
  • By technology, the AI-based solutions segment is anticipated to exhibit significant growth in the near future.
  • By region, LAMEA is anticipated to register the highest CAGR during the forecast period.

Key players operating in the global homeland security market include IBM Corporation, Lockheed Martin Corporation, General Dynamics Corporation, Northrop Grumman Corporation, L3Harris Technologies, Inc., Unisys Corporation, Elbit Systems Ltd., and Science Applications International Corporation(SAIC). Companies are adopting strategies such as contracts, acquisitions, agreements, and others to improve their market positioning.

 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Homeland Security Market by Type (Border Security, Aviation Security, Maritime Security, Critical Infrastructure Security, Cyber Security, Mass Transport Security, Law Enforcement, CBRN Security, Others), by End User (Public Sector, Private Sector), by Technology (Recognition and Surveillance Systems, AI-based Solutions, Security Platforms, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 

Buy Full Version
"Homeland Security Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers