New York, USA, Nov. 17, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global homeland security market is expected to generate a revenue of $2,91,598.9 million and grow at a noteworthy CAGR of 6.1% over the estimated timeframe from 2021-2028.
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As per our analysts, due to the increasing threats from terrorism activities all across the world, the market is expected to experience striking growth during the analysis period. The growing adverse impact of terrorism on the global population and the economy is the major factor expected to boost the implementation of homeland security measures worldwide. Besides, the increasing prominence of robotics and nanotechnology is further expected to foster the growth of the market during the analysis period. However, the high investment required for the implementation of homeland security services may hamper the growth of the homeland security market during the forecast period.
Covid-19 Impact on the Global Homeland Security Market
With the rise of the Covid-19 pandemic, the market has faced a negative impact on its growth rate. Due to the spontaneous spread of the deadly coronavirus, governments of many countries across the world have turned their focus from counter-terrorism operations and given complete attention to the public health crisis. This led to the disruption in the supply chain, which caused the unavailability of critical components in the manufacturing industry to assemble the equipment used for homeland security systems. However, the implementation of IIOT helped in the manufacturing process of the homeland security products, which is expected for aiding the gradual growth of the homeland security market.
Check out How COVID-19 impacts the Global Homeland Security Market: https://www.researchdive.com/connect-to-analyst/8489
Segments of the Global Homeland Security Market
The report has been divided the market into several segments based on type, technology, end-user, and region.
Type: Cyber-Security Sub-Segment to be Most Lucrative
The cyber security sub-segment is predicted to garner a revenue of $2,27,201.8 million during the analysis timeframe. This is mainly due to the increasing threat of cybercrime such as counterfeiting forgery, identity theft, and many more. Moreover, the continuous developments by key market players of developed countries to protect companies and individuals from ransomware, malicious insider attacks, and data theft activities are the major factors expected to boost the growth of the homeland security market’s sub-segment over the analysis timeframe.
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Technology: Security Platform Sub-Segment to be Most Profitable
The security platform sub-segment is projected to generate a revenue of $3,84,144.6 million throughout the estimated period. This is mainly because of the growing necessity of integrating solutions in counter-terrorism operations in different domains of security. In addition, the increasing usage of technology such as AI in security platforms for providing real-time information, helping in quick assessments, and protecting people from all possible odds are the factors expected to fortify the growth of the homeland security market’s sub-segment during the analysis period.
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End-User: Public Sector Sub-Segment to Have Largest Market Share
The public sector sub-segment is predicted to garner a revenue of $5,18,643.4 million throughout the analysis time period. This is mainly due to the increasing defense expenditure all across the world. Moreover, making more investments by the governments of various countries in ensuring national security is the major factor expected to fortify the growth of the market’s sub-segments over the estimated period.
Region: North American Region to Have Extensive Growth Opportunities
The North American Region is expected to garner $2,91,598.9 million in revenue over the analysis timeframe. This is mostly because, the existence of the most developed defense companies and the most established framework of security in the commercial and public sectors of this region. Moreover, the high expenditure of major countries for the internal security in this region is the key factor expected to fuel the regional growth of the homeland security market over the analysis timeframe.
Key Players of the Global Homeland Security Market
1. Northrop Grumman.
2. L3Harris Technologies INC.
3. General Dynamics Corporation
4. BAE Systems.
5. Thales Group
6. Leonardo S.p.A.
7. Elbit Systems Ltd.
8. Rohde & Schwarz
9. Leidos Holdings, Inc
10. Unisys Corporation.
These players are majorly working on the development of new business tactics and strategies to acquire the leading positions in the global industry.
For instance, in April 2021, Elbit Systems, a leading Israel-based international defense electronics company, has announced its acquisition with BAE Systems, a renowned British multinational arms, security, and aerospace company. Elbit Systems has made this agreement for $31 million to expand its business of providing optimum security solutions and strengthen its position in the global market.
Furthermore, the report also presents other important aspects such as SWOT analysis, latest strategic developments, product portfolio, and the financial performance of the key players. Click Here to Get Absolute Top Companies Development Strategies Summary Report
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