Homeland Security & Emergency Management Market to Exhibit 4.43% CAGR by 2027; Rising Terrorist Attacks to Aid Growth

The global homeland security and emergency management market size is projected to reach USD 777.0 billion by 2027. It is set to gain traction from the ever-increasing number of border security issues and terrorist attacks occurring worldwide. Fortune Business Insights™ provided this information in a recent report, 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 report further mentions that the market stood at USD 549.40 billion in 2019. However, it is set to exhibit a CAGR of 4.43% during the forecast period between 2020 to 2027.

Leidos Begins Work on a USD 450 Million Contract Given by the U.S. Air Force

In April 2020, Leidos, a scientific research company based in the U.S., restarted work on a contract from US Air Force (USAF) worth USD 450 million. It would enable the company in delivering IT services to those users within the National Capital Region (NCR). This contract was provided to Leidos last year. But, the work was suspended owing to several protests. The indefinite-quantity, indefinite-delivery contract requires the company to offer unclassified and classified IT services and support to the Joint Chiefs of Staff (JCS), National Military Command Center (NMCC), USAF, and other organizations and agencies present in the NCR. Work consists of cybersecurity, system engineering, enterprise IT operations, and IT programme management for a period of five years.

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

Rising Concerns about Critical Emergencies to Drive Growth

Nowadays, the rate of instability has upsurged across the globe because of the increasing number of criminal activities and terrorist attacks. It is further causing the military sector to be highly concerned about the emergencies. The plan of action consists of procedures that would be capable of dealing with critical situations, such as civil unrest, chemical attacks, and hazardous material accidents. Also, intentional attacks, namely, nuclear attacks, radiological attacks, pandemic attacks, local attacks, and biological attacks are included. Nowadays, the act of bioterrorism is also rising. It refers to the act of releasing human-modified harmful agents, toxins, viruses, and bacteria that would severely affect infrastructure and people. However, slow implementation of the security system may hamper the growth of the homeland security and emergency management market growth during the forthcoming years.

Key Players Focus on Bagging Contracts to Intensify Competition

The market consists of several companies that are presently focusing on the latest homeland security and emergency management market trends to cater to the demand for their large consumer bases. They are mainly engaging in mergers and acquisition strategy or are striving to gain new contracts for delivering their in-house products to the well-known organizations.

Fortune Business Insights™ lists out the names of all the companies operating in this market. They are as follows:

• BAE Systems


• CACI International Inc.


• SAAB AB


• Elbit Systems Ltd.


• General Dynamics Corporation


• IBM


• Collins Aerospace


• L3Harris Technologies Inc.


• Lockheed Martin Corporation


• Northrop Grumman Corporation


• Thales Group


• Other key market players

A Notable Industry Development-

• August 2018: Lockheed Martin, a global aerospace, defense, security, and advanced technologies company based in the U.S., chose Honeywell, a multinational company headquartered in North Carolina, to deliver its control actuation system. It will be used in Lockheed’s Guided Multiple Launch Rocket System Extended Range. This new multiyear contract would allow rockets from Lockheed’s unique missile system to steer and control their way to the battlefield efficiently. It would also provide less collateral damage while removing mission-critical targets at growing distances.

Further Report Findings-

• North America procured USD 208.77 billion in 2019 in terms of market revenue. This growth is attributable to the rising initiative in the U.S. for upgradation of its airborne, land, and naval systems.


• Asia Pacific would stand in the second position owing to the increasing number of military modernization programs and expenditure in military in the developing countries, such as China, South Korea, and India.


• Based on system, the detection and monitoring system segment held 25.87% homeland security & emergency management market share in 2019. It is extensively used in most of the military systems and equipment.

This market can be segmented into: