London, UK. 25 July 2011. Homeland security (HLS) is a burgeoning market that offers a vast number of opportunities for private sector entities. Despite a spate of budget cuts and fiscal austerity measures implemented across advanced economies, visiongain calculates that the value of the HLS industry will reach as much as $194.3bn in 2011
Visiongain's latest report, The Homeland Security Market 2011-2021 expects this strong growth to continue over the next 10 years as governments in the West largely insulate HLS expenditure from cuts and as emerging markets pour unprecedented funds into defensive measures against threats such as terrorism, cyber attack, natural disasters and piracy.
Since the paradigm shift in the HLS sector triggered by the September 11 2001 attacks, expenditure in the internal security industry has proven to be remarkably resilient. Despite the killing of al-Qaeda chief Osama bin Laden in May 2011, governments are unlikely to feel sufficiently comfortable to reduce HLS spending by any meaningful degree. Visiongain's The Homeland Security Market 2011-2021 report shows that, although counter-terror activity remains a key element of the market, the HLS sector has expanded far beyond anti-terrorism spending and is now underpinned by a strong nexus of factors.
The growth in aviation security, for example, will be driven by considerable expansion in airport capacity throughout the developing world, as well as demand for increasingly sophisticated screening technology in advanced economies. Countries such as China, India and the UAE have initiated programmes to construct airports on a scale previously unseen, and the concomitant security demands of handling such large numbers of passengers will drive the market for aviation security measures there. Moreover, in developed countries a plethora of new technologies is slowly gaining approval.
Opportunities for private maritime security firms have soared in recent months as shippers have been forced to explore private security solutions. International and state bodies including the International Maritime Organisation (IMO) have been compelled to concede tentative approval, further boosting the demand and supply of private sea and port security equipment and services.
Visiongain is particularly bullish on the global cyber security market, with demand set to jump exponentially as cyber attacks on both government agencies and private firms grow bolder and more frequent. Cyber security has come to form a much larger share of IT firms' revenue mix in recent years, triggering a wave of acquisitions of IT security firms by defence companies. Indeed, visiongain anticipates competition in the IT security sector to grow strongly over the medium- and long-term as established companies and start ups eye increasing friction between states and non-state agents in cyberspace as a bellwether for the market's growth.
Meanwhile, the remarkable speed and scale of the anti-government uprisings across the Middle East and North Africa (MENA) that reached a climax in late 2010 and early 2011 have spurred HLS spending among some emerging markets governments. This is a particularly important factor for HLS spending in China, where authorities that have long been wary of public unrest were alarmed by the unrest.
Companies that are able to offer solutions to these vulnerabilities - whether traditional or technologically advanced - will find strong demand among governments worldwide. Visiongain's latest report on homeland security is a key document for companies interested in aviation security, mass transit security, maritime security, infrastructure security, telecommunications, data and cyber security, border security, counter-terror intelligence, CBRN security and emergency response. The Homeland Security Market 2011-2021 report also offers global and country-level market size and growth forecasts of 10 leading markets over the 10 year period, providing over 110 tables and charts quantifying the market.
If you would like more details on this report please visit http://www.visiongain.com/Report/649/The-Homeland-Security-Market-2011-2021
For an executive summary of The Homeland Security Market 2011-2021 report please contact Sara Peerun on:
Email: sara.peerun@visiongainglobal.com
Tel: +44 (0) 207 336 6100
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Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongainglobal.com or call her on +44 (0) 207 336 6100
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