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NORTH AMERICA- The Largest Regional Consumer Market of Homeland Security Devices and Technologies

Homeland security is an umbrella term for safeguarding the nation against any anti-social groups and threats by terrorist organizations. The market is chiefly driven by various government initiatives undertaken to prevent cross border insurgency and increasing terrorist threats around the world. Some of the government initiatives include TECS Mod program undertaken by the U.S., Sisfron program undertaken by Brazil, and Project Cytoon undertaken by South Africa. Homeland security products consist of all equipment used for protecting threats, crime, or illegal activities worldwide.

Origin: http://www.transparencymarketresearch.com/homeland-security-market.html

Due to its crucial nature to a nation’s safety and integrity, homeland security is among the highest priorities for any government. The global homeland security market is rising steadily owing to the high threat of terrorism in various parts of the world. Growing human trafficking and consequent demand for stricter border patrol has also aided the global homeland security market. Drug trafficking is also a serious concern for many countries around the world and also necessitates tough homeland security measures.

Apart from the various physical threats to a country, the rising threat of cyberattacks has added a new dimension to the global homeland security market. Cyber security held a share of more than 39% in the global homeland security market in 2013 and is expected to expand at a higher-than-average CAGR of 5.8% over the forecast period. Due to proliferation of advanced Internet resources, hacking has gained immense importance today, with both illicit and lawful cyber branches beefing up in recent years. Failure to contain a cyberattack poses a serious challenge to a nation’s integrity, as confidential information about virtually every aspect of a country could then be used for illicit purposes.

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“The defense cuts have another angle to them,” says a TMR analyst. “Many countries, particularly developed countries, are looking to trim down their defense forces to make them more efficient and effective.”This helps countries achieve the same level of protection at reduced costs. This bodes well for the global homeland security market in the long run, as this will lead to smart homeland security options, such as unmanned drones and other high-tech products.

This represents a defining opportunity for major players in the global homeland security market such as:

> Harris Corporation

> Elbit Systems Ltd.

> General Dynamics Corporation

> Thales Group

> FLIR Systems, Inc

> SafranS.A.

> L-3 Communications Holdings, Inc

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