Theglobal homeland security andemergency management market is likely to gain momentum from the rising utilization ofcloud-based services and applications. Besides, the outdated equipment andinfrastructure are being upgraded persistently. This information is publishedby Fortune Business Insights™ in a recent study, titled, “HomelandSecurity and Emergency Management Market Size, Share and Industry Analysis bySystem (Modeling And Simulation, Communication System, Rescue And RecoverySystems, Intelligence And Surveillance System, Detection And Monitoring System,Weapon System, Command And Control, And Others), By End Use (Cyber Security,CBRNE Security, Aviation Security, Maritime Security, Law Enforcement andIntelligence Gathering, Critical Infrastructure Security, Risk and EmergencyServices, and Border Security), and Regional Forecast, 2020- 2027.” Thestudy further mentions that the homeland security and emergency managementmarket size was USD 549.40 billion in 2019 and is projected toreach USD 777.0 billion by 2027, thereby exhibiting a CAGR of4.43% during the forecast period.
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BrowseComplete Report Summary: https://www.fortunebusinessinsights.com/homeland-security-and-emergency-management-market-102743
ThisReport Answers the Following Questions:
- What are the homeland security and emergency management market trends, growth drivers, and hindrances?
- How will the market be affected in the near future?
- Which vital strategies are implemented by key companies to boost sales?
- Which region is likely to remain in the dominant position in terms of revenue?
- Which segment would lead the market by generating the largest share?
Drivers& Restraints-
HighDemand for Situational Awareness to Propel Growth
There isa high demand for situational awareness as it is capable of analyzing andidentifying complex data regarding the battlefield scenarios. It is veryhelpful of the decision makers and hence, a significant factor in land, naval,and air-based operations. Cutting-edge technologies also provide maritime,ground, and air solutions with unique command, control, communication, computers,combat, intelligence, surveillance and reconnaissance (C5ISR) services forproviding access to real-time database. However, in the field of cybersecurity,lack of proactive measures may obstruct the homeland security and emergencymanagement market growth in the coming years.
Segment-
RisingUsage in Military System to Favor Growth of Detection and Monitoring SystemSegment
In termsof system, the market is divided into intelligence and surveillance system,modeling and simulation, command and control, rescue and recovery systems,weapon system, communication system, detection and monitoring system, andothers. Out of these, the detection and monitoring system segment held 25.87%homeland security and emergency management market share in 2019. This growth isattributable to their increasing usage in various military equipment andsystems.
RegionalAnalysis-
Upgradationof Conventional Equipment to Favor Growth in North America
Based ongeography, the market is fragmented into South America, the Middle East andAfrica, Asia Pacific, Europe, and North America. Amongst these, North Americaprocured USD 208.77 billion homeland security and emergency management marketrevenue in 2019. This growth is attributable to the rising military expenditureand upgradation of airborne, air, and land systems in the U.S. In addition tothat, the country houses several prominent companies, namely, Lockheed MartinCorporation, Raytheon Company, and Northrop Grumman Corporation. It would alsocontribute to the growth of the market in this region.
AsiaPacific, on the other hand, would remain in the second position owing to themilitary modernization programs and spending in the developing countries, suchas South Korea, India, and China. Also, the increasing rates of cybercrime andcross-border conflicts would boost growth. Europe is set to hold the thirdposition backed by the presence of many renowned homeland securitymanufacturers in this region.
CompetitiveLandscape-
KeyCompanies Aim to Win New Contracts to Strengthen Positions
Thecompanies are following inorganic and organic strategies, such as novel productlaunches and mergers and acquisitions to intensify competition. They are alsotrying to get new orders and contracts from reputed firms to deliver theirproducts and gain a competitive edge. Below are a couple of the key industrydevelopments:
- January 2019: General Dynamics Information Technology (GDIT) bagged the Navy Cyber Mission Engineering Support contract from the U.S. Navy’s Space and Naval Warfare Systems Center. The total value of this contract is worth USD 898 million. It consists of one six-month option-to-extend-services option, one two-year option ordering period, and a five-year base ordering period. GDIT will be able to provide innovative solutions catering to the warfighting needs of the Navy and Marine Corps.
- January 2018: Serco Inc. acquired BTP Systems, a technology services contractor for USD 20 million. It would help the former in broadening its defense sector and include new federal consumers.
FortuneBusiness Insights™ provides a list of all the organizations present in thehomeland security and emergency management market. They are as follows:
- BAE Systems
- CACI International Inc.
- Collins Aerospace
- Elbit Systems Ltd.
- General Dynamics Corporation
- IBM
- L3Harris Technologies Inc.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- SAAB AB
- Thales Group
