Homeland Security and Emergency Management Market - Growth, Trends, and Forecast (2019 - 2024)
The homeland security and emergency management market is anticipated to grow at a CAGR of above 6% during the forecast period.
The homeland security and emergency management market includes the study of all the government and federal agencies that make effort to prevent, reduce, and minimize the damage from terrorist attacks as well as the first responders for natural disasters and man-made events.
The market is segmented into by End-use to Border Security, Cybersecurity, Law Enforcement, and Intelligence Gathering, Risk and Emergency Services, Other End-uses. The Other End-uses segment includes CBRNe security, aviation security, maritime security, etc.
Other End-uses Segment to Experience the Highest Growth During the Forecast Period
Other End-uses segment of the market currently has the highest share and is expected to grow at the highest CAGR during the forecast period. Currently, there is a significant increase in the number of terrorist attacks worldwide using CBRNe agents for carrying out the attacks. The increase in the number of threats has led to the strengthening of security at airports and seaports using better scanning and screening equipment. This is acting as a major growth factor for the development of this segment during the forecast period. Recently, in April 2019, Smiths Detection received an order to upgrade the ECAC Standard 3 explosives detection systems (EDS) at Linate and Malpensa Airports in Milan. The contract includes delivery and installation of at least 13 HI-SCAN 10080 XCT scanners. Also, tensions in the South China Sea and dispute between the United States and China have escalated the need for coastal surveillance in the Asia-Pacific region. The integration of advanced technologies for detection and protection against terrorists in support of law enforcement and intelligence gathering agencies is anticipated to boost the security of the countries during the forecast period.
North America Region Registered the Highest Market Share in 2018
North America region currently has the highest share in homeland security and emergency management market. This is majorly due to the investments in homeland security and public safety by the governments of the United States and Canada. The government of the United States has increased its budget allocation for homeland security by approximately 24% fiscal year 2020 compared to the previous fiscal year and allocated USD 92.07 billion for the fiscal year 2020. Also, the US National Oceanic and Atmospheric Administration (NOAA) stated that in 2018, the country experienced total damage of USD 91 billion from hurricanes, wildfires, floods and other disasters. To take appropriate measures in such disaster events, the country is investing in various first responders and agencies through the Disaster Relief Fund (DRF). Similarly, Canada has been increasing its investments in national security and public safety over the past few years. For instance, in May 2019, the government announced a grant of USD 13,55,250 under the National Disaster Mitigation Program (NDMP), to support four projects in New Brunswick, designed for mitigation of damages caused by flooding. As the country is susceptible to earthquakes, avalanches, tsunamis, hurricanes, and other natural hazards, such investments are anticipated to support the risk and damage, thereby, supporting the growth of the market in this region during the forecast period.
The market of homeland security and emergency management is a highly fragmented market with many suppliers who provide various types of equipment to various agencies involved in national and defense security. Some of the prominent players in the market are Lockheed Martin Corporation, Elbit Systems Ltd., Northrop Grumman Corporation, Raytheon Company, and Thales Group. The different equipment used by homeland security includes C4ISR equipment, CBRNe detectors, non-lethal weapons, riot control equipment, firearms, and related ammunition, etc. The brand value of the companies helps them receive contracts or orders from the governments or national security agencies, due to which the entry of new players into the market is difficult. Also, the development of new equipment and technology for better detection of the hostile entities at borders, airports, maritime patrol or cyber networks is anticipated to help the companies gain new customers and expand their geographic presence.