Homeland Security Market Outlook and Shares Up to 2020

The global homeland security market is expected to grow at a CAGR of 5.6% during the forecast period from 2014 to 2020 and reach a market size of $364.44 billion by 2020. The market was once valued at $245.72 billion in 2013.

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Homeland Security Market Overview

The array of homeland security technologies and equipment is as varied as the perceived risks and threats to national security. The threat of piracy, cross border terrorism, human trafficking, drug trade, cybercrime, separatist movements, internal dissent – are some of the most critical driving factors of the homeland security sector.

The homeland security products include equipment used for protecting the nation from threats by terrorists and other anti-social organizations. These products provide recovery options and resilience in case of any unprecedented and unforeseen attacks. The homeland security market is highly competitive with number of key participants vying for contracts and financial condition that would increase competition in the global market.

Western countries are spending more on surveillance systems, cyber security, General IT modernization equipment, and other communications systems that has effectively improved the record keeping across various internal security departments. Such aspects have gained wide acceptance across different sectors of the world, and are yet seen as growth drivers in the homeland security segment.  

The market study on homeland security market recognizes various drivers and restraints affecting the industry in the years to come.

Major Growth Factors

One of the major growth factor driving the market is the initiatives taken by several governments to restrict the increasing terrorist activities and cross border insurgency. The initiatives undertaken by governments are bolstering the market for homeland security...