Homeland Security and Emergency Management Market Players, Regional Outlook and Forecast 2022-2030
Homeland Security and Emergency Management Market Revenue
Homeland Security and Emergency Management Market Revenue is projected to reach USD 1,181.6 Billion and register a CAGR of 5.8% between 2020 and 2030.
As riots and natural disasters threaten the United States, so do terrorist attacks and other threats, and so do agencies responsible for homeland security and emergency administration. There is also less risk of Terrorism and less damage in a terrorist strike.
An increase in terrorist attacks and trespassing across international borders Terrorism and the number of people killed because of Terrorism have increased dramatically over the last decade. Global Terrorism Index research found that the number of fatalities from Terrorism grew by 67% between 2006 and 2016. In addition, border trespassing has increased significantly in Europe, Asia-Pacific, and North America during the previous several years.
The influence of COVID-19 has been studied under three different cases: optimistic, realistic, and pessimistic. As a basis for future estimates, a more realistic situation was considered. Sophisticated sensor manufacturing has been influenced to some degree by this. From January 2020 to July 2020, multiple product creation contracts have been issued for national defence and emergency preparedness systems that need surveillance and intelligence collecting technologies.
Market USP
Growing need to upgrade Homeland Security and Emergency Management
Key Players
Following are the Homeland Security and Emergency Management Market Players
· Lockheed Martin Corporation (US)
· Raytheon Company (US)
· Northrop Grumman Corporation (US)
· Thales Group (France)
· Leidos (US)
· IBM (US)
· FLIR Systems (US)
· BAE Systems PLC (UK)
· General Dynamics Corporation (US)
· Elbit Systems Ltd (Israel)
Market Segmentation
According to the reports, the global homeland security and emergency management market is segmented based on solutions, end-users, and regions.
The system segment accounted for the greatest Homeland Security and Emergency Management Market Trend and is predicted to grow fastest during the forecast period. This is because homeland security and emergency management organizations worldwide are expanding their need for homeland security systems, including intelligence and surveillance systems, weapon systems, detection and monitoring systems, and telecommunication networks for command, direction, and increased spatial awareness.
There are professional and managed services in this critical infrastructure market. There was a substantial amount of money spent on managed services in 2019. Many areas of a firm's security requirements may be covered via management services.
Regional Classification
The North American area now has the largest proportion of the global market for homeland security and emergency management products and services. This is partly due to the u.s and Canada investing heavily in the market. The United States government has earmarked USD 92.07 billion for homeland security in 2020, an increment of nearly 24 per cent over the previous financial year. It was estimated that in 2018, natural catastrophes such as storms, earthquakes, floods, and other natural disasters cost the United States an estimated $91 billion in damages.
As part of the Disaster Relief Fund, the government makes investments in different first responders and organisations that can help in such situations (DRF). As in the United States, Canada has increased its national security and public safety spending during the last several years. Natural disasters, including earthquakes, rockslides, and other calamities, are expected to be supported by these investments, resulting in a positive impact on the industry in this area throughout the projected period.
Industry News
The US Air Force awarded Raytheon a USD 197 million contract in January 2020 to develop a ground system for collecting and processing data from missile warning satellites.
One of the United States Department of Homeland Security's data centers in Mississippi will be maintained by General Dynamics in January 2020. The USD 2.8 million agreement will continue through the year's finish to provide ongoing assistance for operations and maintenance.
Growth Opportunities in the Homeland Security and Emergency Management Market
The systems segment is expected to register the highest growth in the market: The systems segment accounted for the largest market share in 2019 and is expected to register the highest CAGR during the review period. This is due to the increasing demand for homeland security systems such as intelligence and surveillance system, detection and monitoring system, weapon system, and communication system.
The security segment is expected to grow at the highest rate: The security segment accounted for the largest Homeland Security and Emergency Management Market Revenue share in 2019 and is expected to register the highest CAGR during the forecast period, 2019 to 2026. The growth can be attributed to the high utilization of homeland security systems for border security, cybersecurity, and public security.
The homeland security segment accounted for the largest share in 2019: The homeland security segment accounted for the largest share in 2019. This is due to the increasing need for homeland security for various applications such as intelligence, tracking, surveillance, and command and control, among others.
The emergency management segment is expected to register the highest CAGR during the forecast period.
Homeland Security and Emergency Management Market Revenue Research Report: Information by Installation Base (Fixed Command Centers and Deployable Command Centers), Component (Solution and Services), Platform (Land, Maritime, Airborne and Space), Application (Military, Homeland Security & Cyber Protection and Commercial) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2030
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