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Homeland Security and Emergency Management Market Growth, Size, Share, Demand, Trends and Forecasts to 2027

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Prapti Hinge
Homeland Security and Emergency Management Market Growth, Size, Share, Demand, Trends and Forecasts to 2027

The global homeland security and emergency management market is likely to gain momentum from the rising utilization of cloud-based services and applications. Besides, the outdated equipment and infrastructure are being upgraded persistently. This information is published by Fortune Business Insights™ in a recent study, titled, Homeland Security and Emergency Management Market Size, Share and Industry Analysis, By System (Modeling And Simulation, Communication System, Rescue And Recovery Systems, 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 and Intelligence Gathering, Critical Infrastructure Security, Risk and Emergency Services, and Border Security), and Regional Forecast, 2020-2027 The study further mentions that the homeland security and emergency management market size was USD 549.40 billion in 2019 and is projected to reach USD 777.0 billion by 2027, thereby exhibiting a CAGR of 4.43% during the forecast period.

Worldwide COVID-19 Impact Analysis:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.      

Market Driver:

High Demand for Situational Awareness to Propel Growth

There is a high demand for situational awareness as it is capable of analyzing and identifying complex data regarding the battlefield scenarios. It is very helpful for 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 for providing access to the real-time database. However, in the field of cybersecurity, lack of proactive measures may obstruct this market growth in the coming years.

Segmentation:

Rising Usage in Military System to Favor Growth of Detection and Monitoring System Segment

In terms of 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, and others. Out of these, the detection and monitoring system segment held 25.87% homeland security and emergency management market share in 2019. This growth is attributable to their increasing usage in various military equipment and systems.


Regional Analysis:

Upgradation of Conventional Equipment to Favor Growth in North America

Based on geography, the market is fragmented into South America, the Middle East and Africa, Asia Pacific, Europe, and North America. Amongst these, North America procured USD 208.77 billion homeland security & emergency management market revenue in 2019. This growth is attributable to the rising military expenditure and up-gradation of airborne, air, and land systems in the U.S. In addition to that, the country houses several prominent companies, namely, Lockheed Martin Corporation, Raytheon Company, and Northrop Grumman Corporation. It would also contribute to the growth of the market in this region.

Asia Pacific, on the other hand, would remain in the second position owing to the military modernization programs and spendings in the developing countries, such as South Korea, India, and China. Also, the increasing rates of cybercrime and cross-border conflicts would boost growth. Europe is set to hold the third position backed by the presence of many renowned homeland security manufacturers in this region.

Competitive Landscape:


Key Companies Aim to Win New Contracts to Strengthen Positions

The companies are following inorganic and organic strategies, such as novel product launches and mergers and acquisitions to intensify competition. They are also trying to get new orders and contracts from reputed firms to deliver their products and gain a competitive edge. Below are a couple of the key industry developments:

Browse Detailed Research Insights with Table of Content:

https://www.fortunebusinessinsights.com/homeland-security-and-emergency-management-market-102743

 

 

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