SkyQuest projects that the homeland security market will attain a value of USD 912.64 billion by 2030, with a CAGR of 9.00% over the forecast period (2023-2030). The homeland security market is experiencing robust growth, primarily attributed to the escalating cyberattack threats targeting the information and technology sectors, which have caused substantial damages recently.
Westford, USA, Feb. 06, 2024 (GLOBE NEWSWIRE) — According to SkyQuest, growing public safety concerns, particularly in urban environments, have spurred a notable uptick in investments directed towards innovative technologies and comprehensive solutions to bolster situational awareness, emergency response capabilities, and effective disaster management in the homeland security market.
Browse in-depth TOC on the “Homeland Security Market”
- Pages – 157
- Tables – 101
- Figures – 80
The escalating frequency and growing sophistication of cyberattacks targeting critical infrastructure, government networks, and private organizations have ignited a surge in demand homeland security market.
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Prominent Players in Homeland Security Market
- Lockheed Martin Corporation
- Raytheon Company
- Northrop Grumman Corporation
- Thales Group
- FLIR Systems, Inc.
- BAE Systems
- General Dynamics Information Technology, Inc.
- Elbit Systems Ltd.
- Harris Corporation
- CACI International Inc.
- Ernst & Young Global Limited
- IBM Corporation
- Deloitte Touche Tohmatsu Limited
- KPMG International Cooperative
- Booz Allen Hamilton Inc.
- Honeywell International Inc.
Border Security Segment is Expected to Grow the Market Due to its Pivotal Role in Regulating Critical Engine Functions
Border security segment has emerged as a dominant force within the global homeland security market, driven primarily by the escalating incidence of unlawful cross-country smuggling activities involving prohibited commodities in many nations.
The market in North America has asserted its dominance in the global homeland security market, primarily owing to its sustained commitment to military modernization and improvement programs. The region’s strategic focus on bolstering its defense capabilities has positioned it as a key driver of growth within the industry.
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Cybersecurity Segment is Expected to Dominate the Market Due to the Proliferation of Cyber Threats
Cybersecurity segment has surged to become the fastest-growing component within the global homeland security market. This remarkable growth can be attributed to the proliferation of cyber threats and the critical need for safeguarding sensitive digital infrastructure.
Regional markets in the Asia-Pacific region have emerged as the fastest-growing hub within the global homeland security market, driven by a confluence of factors. One significant catalyst for this growth is the accelerating pace of police force modernization initiatives across many regional countries.
A comprehensive analysis of the major players in the homeland security market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Homeland Security Market
- In 2022, the International Business Machines Corporation (IBM) announced its commitment to bolstering cybersecurity efforts. IBM revealed its plan to expand its cyber security Centre footprint by inauguring a state-of-the-art cyber security facility. This facility is strategically designed to provide critical support to federal agencies, aiding them in effectively mitigating both existing and potential cybersecurity threats. This move by IBM underscores the growing significance of advanced cybersecurity solutions in safeguarding sensitive data and digital infrastructure.
- L3Harris Technologies, Inc. recently made waves in the defense industry by introducing the RF-7850D, a groundbreaking innovation. This cutting-edge creation is the world’s smallest multi-channel, multi-mission vehicle radio.
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Key Questions Answered in Homeland Security Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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