The global homeland security and emergency management market size was valued at USD 590.66 billion in 2022. The market is anticipated to expand from USD 631.42 billion in 2023 to USD 914.07 billion by 2030, exhibiting a CAGR of 5.4% over the analysis period.

The rise can be attributed to the increasing concerns of data security among nations. The deployment of big data analytics for data mining and processing is an additional factor favoring industry expansion.

Fortune Business Insights™ provides this information in its research report, titled “Homeland Security and Emergency Management Market, 2023-2030”.

Informational Source:

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

List of Key Players Mentioned in the Report:

• BAE Systems Plc (U.K.)
• CACI International Inc. (U.S.)
• Collins Aerospace (U.S.)
• Elbit Systems Ltd. (Israel)
• General Dynamics Corporation (U.S.)
• L3Harris Technologies Inc. (U.S.)
• Lockheed Martin Corporation (U.S.)
• Northrop Grumman Corporation (U.S.)
• SAAB AB (Sweden)
• Thales Group (France)

Segments:

Detection and Monitoring Segment to Gain Traction Driven by Increasing Product Adoption in Military Systems

On the basis of system, the market is subdivided into communication system, modeling and simulation, intelligence and surveillance system, rescue and recovery systems, weapon system, detection and monitoring system, command and control, and others. The detection and monitoring system segment accounted for a dominating share in the market in 2022. The rise can be credited to the increasing deployment of these solutions in military equipment.

CBRNE Segment to Lead Impelled by Surge in Defense Expenditure

By service, the market is classified into cyber security, aviation security, CBRNE security, maritime security, law enforcement and intelligence gathering, critical infrastructure security, risk and emergency services, border security, and others. The CBRNE security segment held the largest market share in 2022. The segment’s expansion is driven by the escalation in defense spending on protection and planning of modern warfare systems.

Homeland Security Segment Held Key Share Owing to Rising Security Spending

By end-user, the market is categorized into emergency medical services, firefighting services, homeland security, private & perimeter security, and search and rescue. The homeland security segment held a dominant share in the homeland security and emergency management market in 2022. The rise is due to the soaring security expenditure by emerging economies.

Based on geography, the homeland security and emergency management market has been studied across North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

Report Coverage:

The report provides an insight into the major trends in the market. It further delves into the prominent steps undertaken by leading companies for strengthening their industry footings. These include merger agreements, acquisitions, and the launch of new products.  

Drivers and Restraints:

Market Value to Rise Due to Increasing Biohazard Warfare and Terrorist Threats

The homeland security and emergency management market growth is being propelled by the surging number of terrorist attacks across the globe and increasing concerns pertaining to emergencies. The actions lead to the provisions of emergency management services by industry players for critical situations such as chemical explosions, accidents involving hazardous materials, and others.

However, the implementation of the procedures occurs at a slow pace, which may hamper industry expansion to a considerable extent.

Regional Insights:

North America Dominates due to Rising Expenditure on Upgradation of Security Solutions

North America held a key position in 2022 as it held the largest homeland security and emergency management market share. The regional market is poised to expand at a substantial rate over the projected period. The surge is impelled by the growing demand for communication systems and the escalating deployment of advanced technologies in security solutions.

Europe is anticipated to expand at an appreciable pace over the study period. The expansion is driven by Ukraine’s invasion of Russia and the increase in home security budgets of Poland, Germany, France, the U.K., and Italy.

Competitive Landscape:

Leading Companies Ink Strategic Deals to Strengthen Industry Position

Major industry players focus on formulating and implementing new strategies for strengthening their market positions. These include increasing investment in research and development activities and the rollout of new homeland security and emergency management solutions. Other steps comprise collaborations, partnerships, and merger activities.

Key Industry Development:

June 2023 – Dynamo Technologies and Alpha Omega were awarded a USD 70 million five-year contract award with the USDA (U.S. Department of Agriculture) Office of the Chief Information Office (OCIO) Information Security Center Program and Security Management (ISC). The contract was centered on providing support for mission-critical cyber security operations across USDA agencies.